Jonathan Lewis

Lake Capital Management invests in leading service companies through organic and acquisition-enhanced growth. Investments typically range from $50-$75 million. They are particularly interested in marketing services, finance-related services, operational- and infrastructure-related services, specialty services, healthcare services, specialty consumer services, technology services and business process outsourcing services. Typically, opportunities fall into three categories: a buyout of an existing, solid, service-based business, a partnership with existing management in the acquisition and operation of a platform company or a specialized start-up where a significant market opportunity exists. The firm looks for companies with strong, motivated and scalable management teams. potential for revenue and earnings growth and potential for margin improvement driven by product or geographic expansion, operationally-experienced support of management, economies of scale or cross-selling opportunities from add-on acquisitions.

Operates as a holding company

Operates as a holding company with interests in manufacturing custom orthotics and footwear

William Blair Capital Partners (WBCP) focuses on private placements, PIPES and the investment of funds provided by partners of the firm. They invest in the following sectors: business services, financial services, consumer, healthcare services, healthcare products and technology. Within the business and financial services sectors, WBCP focuses on accounts receivable management, asset management services, data analytics, distribution services, education/educational services, interactive media, niche consulting, payment processing, payroll processing, research products/services, specialty insurance products and specialized marketing services. WBCP seeks investments in outstanding growth companies in the consumer sector. The firm looks for companies that need capital to expand through organic growth, regional expansion or through acquisition of other market players. They focus primarily on two niches within the consumer segment: (1) companies involved in the sale of new and novel products and services to the consumer and companies involved in the sale of well-established products in new and novel ways. WBCP seeks to invest in growing, well-managed companies with strong management teams that are, or have the potential to become, leaders in their market niche. Within the healthcare sector, WBCP invests primarily in the medical devices, biopharmaceuticals and healthcare services industries. The firm looks for innovative companies with products that address unmet medical needs. They are particularly interested in therapeutic areas in which relatively little capital has been historically deployed, including gastroenterology, neurology/neurosurgery and cosmetic surgery and aesthetics. They may also consider investment opportunities in the orthopedic, spine and cardiovascular segments. In the biopharmaceutical industry, WBCP invests primarily in companies that have late-stage (phase II clinical trials or later) compounds or that have approved products. The firm also pursues opportunities to start and nurture pharmaceutical companies in the dermatology, neurology, rheumatology and gastroenterology specialties. WBCP also invests in small market companies with annual revenues of $50 million to $300 million that have not generated strong commercial or development interest from large pharmaceutical companies. WBCP considers investments in healthcare companies that provide services to patients in the outpatient or short-stay settings and in companies that provide outsourced business services to larger healthcare providers such as hospitals or surgery centers. The firm is particularly interested in service companies that pursue segments of the healthcare economy in which the patient pays directly for the service or that provide business-to-business services to healthcare providers. They also invest in companies that provide medical services to governmental healthcare programs such as Medicare and Medicaid. WBCP invests technology companies primarily in the following areas: wireless semiconductors, consumer electronic semiconductors/software, wireless Internet and software as service (SaaS). They firm seeks to invest in companies with (1) platform technology including core technology can be applied to multiple markets across multiple product lines (2) scaleable and capital efficient business models (3) market opportunities that have been validated by customers (4) disruptive technology that is non-disruptive to implement (5) a defensible and sustainable technology lead (6) multiple exit opportunities including acquisition and IPO and (7) compelling growth rates appropriate for their business model. WMCP invests in companies that require funds for product development, sales, marketing and operations. They do not invest in technology development.

Functions as a College/University

Supplies plumbing accessories and hardware products

Provides investment banking services with a focus on the middle market

Incline Equity Partners focuses on investments in middle-market buyout and growth opportunities, targeting transactions of $20 million to $125 million. The firm typically serves as a lead investor and generally invests $10 million to $30 million per transaction. For larger investments, the often form investment syndicates. Incline Equity Partners seeks to invest in companies with proven business models and proven management teams. They focus on investments in niche manufacturing companies, outsourced services organizations and value-added distribution businesses. The firm prefers to invest in companies with significant market share that are operating in industries with attractive growth opportunities. Incline Equity Partners employs a flexible approach to structuring investments that considers future financing needs. They may take minority or a majority ownership positions in their portfolio companies.

Functions as a College/University