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

Financial

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

Business

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

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.

Bison will also invest opportunistically in other sectors when they meet the following criteria:

  • Proven management with large retained stakes
  • Strong competitive position

  • Growth in an expanding market

  • Recurring revenues, low churn, high margins
  • Clear path to value creation

  • Well-defined exit opportunities

Investment Structures

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.

Investment Size

Investment Size

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

Growth capital
Debt recapitalization
Identifying and negotiating acquisitions
Management buyouts
Buyout of non-active partners
Partial shareholder liquidity
Private Investments in Public Entities (PIPEs)