INDEPENDENT SPONSOR

AND

MIDDLE MARKET BUY-SIDE ADVISORY

Sand River Capital is a buy-side advisory practice that provides deal sourcing, structuring, diligence, execution and post-transaction consulting services to middle market private companies, private equity firms, management teams and independent sponsors.

FOCUS INDUSTRIES FOR ACQUISITION

(Q2 2020)

INDUSTRIALS

(North America)

Niche manufacturing
 
Safety equipment and supplies
 
Modular construction
Value added distribution
Specialty chemicals
Industrial coatings
Maintenance and repair

BUSINESS SERVICES

(Global)

Professional services
Tech-enabled services
Specialty Finance
Environmental Services
Facilities management and services
Transportation and Logistics

OILFIELD SERVICES

(focus on the Permian Basin)

Production chemicals
Oilfield safety equipment and services
Refinery and utility maintenance and repair
Industrial coatings
Skilled labor staffing
Mudlogging
Oilfield housing
Equipment rental
Saltwater disposal and water management services

AUTO SERVICES

(North America)

Car washes
 
Quick lube / oil change centers
 
Brake and muffler centers
 
Tire centers
 
Convenience stores
 
Travel centers
 
Truck stops

REAL ESTATE

(U.S. and Canada)

Qualified opportunity zone development
Sale-leaseback of owned and operated real estate
Build to suit real estate
Oil and gas royalties and mineral rights

INVESTMENT CRITERIA

Enterprise Value:
Between $3 million - $150 million
Revenue:  $10 million - $500 million
EBITDA:
No EBITDA requirements (negative EBITDA acceptable for companies of scale)

Form of Investment: 
Equity or Structured Debt / Equity

TRANSACTION TYPES

Dispositions by fund managers of platform or bolt-on portfolio company assets
 
Family succession or monetization of family or founder-owned, closely held companies or assets
 
Growth capital
 
Management buyouts (existing management seeking to buy out existing partners)
 
Management buy-ins (management team seeking to acquire and take an active management role)
 
Monetization of owned real estate (sale-leaseback)
 
Corporate divestitures
 
Consolidation
 
Turnarounds and special situations
 
Complex transactions

PREFERRED CHARACTERISTICS

U.S. focused, although open to contemplating strong assets or businesses in other developed markets
Experienced existing or proposed management teams with core expertise and skills in the sector
 
Proven franchises with leading market position or protected local economics
 
Recognized leader within a niche or region
 
High barriers to entry and/or recurring revenue
 
Historical & projected growth or a clear catalyst for turnaround
 
Free cash flow or a path toward free cash flow
Opportunity to drive value through enhanced operational excellence