Investment Criteria

We will consider opportunities with an investment size of $10 million or greater and support a wide range of transactions:

  • Growth capital
  • Acquisition financings
  • Debt recapitalization
  • Management buyouts
  • Buyout of non-active partners
  • Partial shareholder liquidity
  • Private Investments in Public Entities (PIPEs)
Bison Capital seeks to invest in proven lower middle market companies operated by strong, entrepreneurial management teams and owners who are seeking supportive capital to finance their companies’ growth, acquisition opportunities and recapitalizations
   
The principal characteristics of companies we seek to invest in include:

FINANCIAL

  • Revenues of $20 to $500 million
  • EBITDA of $5 million or greater
  • Strong historical performance
  • Attractive free cash flow dynamics​​

BUSINESS

  • Established businesses with history of profitability
  • Proven management teams with significant retained ownership stakes
  • Predictable or recurring revenues
  • Attractive growth opportunity
  • Defensible competitive position

INDUSTRY SECTORS

Bison Capital has focused principally on investments in the business services, healthcare services, tech-enabled businesses and distribution/logistics sectors. However, we are opportunistic investors and will pursue attractive opportunities in other sectors which meet our criteria. We do not invest in real estate or natural resource exploration. We also avoid industries which are subject to rapid technological change or rapidly changing consumer preferences.​

INVESTMENT STRUCTURES

We invest across the entire capital structure, tailoring the structure of each of our investments to the needs and goals of the businesses we are working with. While our investment approach is principally equity-oriented, some portion of our investment is often structured as subordinated debt or preferred stock.

We will consider opportunities with an investment size of $10 million or greater and support a wide range of transactions:

  • Growth capital
  • Acquisition financings
  • Debt recapitalization
  • Management buyouts
  • Buyout of non-active partners
  • Partial shareholder liquidity
  • Private Investments in Public Entities (PIPEs)