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OUR ACQUISITION CRITERIA

TARGET MARKET

GEOGRAPHIC FOCUS

United States, Canada, United Kingdom, Puerto Rico, Spain and Mexico.

TARGET COMPANY SIZE

$2,000,000 to $50,000,000

TYPE OF TRANSACTIONS

Family buyouts, management buyouts, going privates, complementary acquisitions, internal growth, owner recapitalizations, and turnarounds (Informal reorganizations, preferred), real estate, financial services and transportation.

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EXCLUDED TRANSACTIONS

Startups, high tech, retail, media, and natural resources.

TARGET COMPANY CHARACTERISTICS

  • Dominant position with defensible competitive advantage in a mature industry.
  • Minimal exposure to dramatic cost and revenue cyclically.
  • High quality management with a proven track record in managing the company through business cycles.
  • Manageable R&D, capital expenditure and working capital requirements.
  • Proven historical earnings with consistency and predictability of cash flows.
  • Strong accounting and financial controls.
  • Strong balance sheet prior to new financing.
  • Limited access to capital markets and non-regional financial intermediaries.
  • Limited negative labor and environmental issues.

Fenner & Beane, LP. is willing to consider businesses with revenues as low as $3 Million provided there is a stand-alone management capability, or a “fit” with another entity.  We require that management (other than sellers) remain with employment contracts and incentive compensation.

INDUSTRIES

HEALTHCARE

All types considered, with special interest in behavioral health, addiction and recovery, urgent care, hospital, age management and regenerative health, with min. revenues of $5 Million.

AGRICULTURE / HEMP

All types considered, with special interest in hemp, and with min. revenues of $5 Million.

MANUFACTURING

Any product line including non-perishable, long shelf life food products with minimum revenues of              $5 Million. Consideration of smaller companies with strong second tier management in place.

PRINTING

Commercial printing, web (high-speed continuous roll paper) or sheet fed press (single sheet); financial printing, magazines, corporate printing, advertising specialty with minimum revenues of $5 Million.

PACKAGING

All types considered, with min. revenues of $5 Million.

AUTOMOTIVE

Parts re-manufacturing, distribution, and racing-related enterprises.  Min. revenues $5 Million.

WHOLESALE DISTRIBUTION

Distributors of any products, including non-perishable food, electrical, plastics, piping, plumbing and clothing with minimum revenues of $5 Million.