Investment Focus

Industries, Transaction Types & Investment Criteria

Industries with Mission-Critical Systems, Processes or Data

Sale-to-Service™ (“S2S”) candidates have server-based mission-critical systems, processes or data that are essential to the company’s business model. If the company would be challenged to replace its server-based assets over the course of a month or two, then the company is likely a fit for Leeward’s S2S.

Leeward is industry agnostic and S2S candidates can be found in all sectors, however, these industries are likely to have businesses with server-based assets that are a fit for Leeward’s S2S.

Business Services

Financial Services

Healthcare Services

Media & Telecom

Transportation & Logistics

Consumer Services

E-commerce & Digital Marketing

Education Services

Asset-Light Manufacturing

Transaction Types

Liquidity Events

Leeward delivers a low-cost source of capital for owners seeking to diversify their wealth but who do not want an investor sitting at their board table.

Shareholder Buyouts

Leeward provides capital to owners seeking to buyout a financial partner or a passive shareholder or for when the partnership is no longer working.

Management Buyouts

An S2S is well suited for owners who would like to sell their business to management rather than to private equity or a strategic investor.

Family Transitions

Leeward supports families seeking to transition ownership and control to the next generation while delivering fair value to the company’s founders.

Acquisitions & Growth

Leeward provides strategic acquisition and growth capital for owners seeking an alternative to higher-cost debt and equity dilution.

Independent Sponsors

Under certain circumstances, Leeward can provide all capital allowing independent sponsors direct equity at close without investment hurdles.

Investment Criteria

Investment Size

$10 million to $100 million

EBITDA

$5 million to $50 million

EBITDA Margin

Ideally 10% or higher

Location

U.S. Only

Excluded Categories

C-Corporations

Entities taxed as C-corporations are generally not a fit for an S2S.

SaaS Businesses

If the company’s revenue is largely license income, an S2S is not a fit.

Debt Recapitalization

If proceeds are used to exclusively payoff existing debt, an S2S is not a fit.