Private Equity

Jupiter’s private equity activities are focused on acquiring controlling interests in excellent middle market companies with strong management at fair valuations.

We are actively seeking new investments and encourage executives, investment banking firms, business brokers, attorneys, accountants and business owners/managers to contact us with investment opportunities, ideas or questions. We have no committees and respond rapidly as to whether we’re interested in a particular opportunity, typically within a few days.

Acquisition Criteria

Transaction Types

  • Management and Leveraged buyouts (MBO & LBO)
  • Recapitalizations
  • Corporate divestitures
  • Growth and expansion investments

Company & Business Characteristics

  • Established and defensible market position (unique or proprietary products, services or customers; or product, cost or other advantages)
  • Quality management in-place (we are prepared to augment, but not replace)
  • Established and profitable operating history with healthy operating margins and proven free cash flow generation
  • High returns on invested capital
  • Attractive growth prospects, both internal and external
  • Stable or growing markets with limited cyclicality
  • Limited risk of technological obsolescence
  • Simple, understandable businesses
  • Fair valuation
  • Headquartered in the U.S., with a preference to Western U.S.

Investment & Financial Charateristics

  • Total enterprise values ranging from $25 to $500 million
  • Controlling equity investments of $5 to $100 million
  • EBITDA of $5 million or greater
  • Company revenues of $25 million or greater

Industries

We are generalist investors, and industry segment is our least important criterion.

Industries of interest and experience include:

  • Consumer Products and Services
  • Retail & Restaurants
  • Franchisors/Franchisees
  • Business Services
  • Basic Manufacturing
  • Value-Added Distribution
  • Healthcare Services
  • Energy, Transportation & Distribution

Investment areas typically avoided include:

  • High technology
  • Biotechnology
  • Startups

Operating Management Philosophy

  • We provide active leadership in strategic planning, capital allocation, acquisition and financing opportunities, all with the goal of maximizing enterprise value.
  • Day-to-day operating decisions are made by company management.
  • We believe in structuring meaningful equity ownership for senior management to create valuable incentives and align shareholder interests.

Competitive Advantages

  • Frequently we don’t require third party debt financing to close a transaction, which typically provides:
    • Speed
    • Certainty
    • Structural flexibility
  • Experienced investor across a diverse range of industries