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Majority Equity
Mill Rock invests majority equity stakes in businesses with solid fundamentals in partnership with talented management teams with long-term strategic vision. We target leading companies within our core industry verticals through change-of-control transactions, which may arise from succession planning, management buyouts, corporate divestitures or other catalyst events. In particular, we seek businesses that are performing and highly defensible, yet which have untapped potential that Mill Rock may assist in accelerating.
Activ Capital®
Activ Capital® is structured capital, including debt, senior equity and hybrid investments that brings all the features of Mill Rock’s value-added partnership without requiring majority control.
Features of Activ Capital® are as follows:
The decision to bring in a financial partner is a significant one, with difficult choices to navigate along the way. Selecting the right financial partner can be daunting as you consider both cultural fit and economic implications. We take the time to get to know your business. Our partnership develops over time and is built on trust and straightforward communication. After nearly 30 years of partnering with management teams, the things we value most are the relationships we have forged. We operate with integrity, respect and professionalism in all situations and expect the same from our partners. We understand that we succeed only when our management partners succeed.
Intermediaries are critical to the success of our business. We value our relationships with referral sources. We pledge to be highly responsive to opportunities you share with us and to respect the confidentiality of our conversations. We appreciate that your time is valuable and will respond quickly and constructively with thoughtful questions and feedback. We have closed over 100 transactions as a team and have earned the confidence and trust of our intermediaries by holding ourselves accountable to the promises we make. Our goal is to operate with transparency and efficiency during the transaction process. We constantly seek to expand our network.
Mill Rock was founded based on the premise that the bottleneck in our industry is in operational know-how – not financial savvy. The success we have enjoyed as investors is predicated on our partnership with outstanding managers. We have spent our careers cultivating relationships with an extensive network of seasoned advisors. These visionary leaders have direct experience building businesses in the verticals we target, many of them entrepreneurs and business owners themselves. The entire Mill Rock team is involved in every facet of our investment process and participates in substantially everything that we do. We have the utmost flexibility in terms of how we can work with experienced industry professionals. If you have interest in working with us, please contact us.
Industrials, North American headquarters and B2B businesses in core verticals
Late stage only, minimum EBITDA
generally ~$10 million
Between $50 million and $200 million, greater in select situations
Control equity
Activ Capital®: non-control debt, senior equity or hybrid
Secondary debt purchase
Market leadership position
Demand relatively price inelastic
Opportunity for value enhancement
Strong free cash flow
No concentration risks
