Flexible style,
institutional process
Private equity
Private Equity Investment Approach
We have over 25 years of experience as private equity investors. We focus on control buyouts, primarily of U.S. based businesses. We invest when we have a clearly defined angle– a sourcing angle, a value-creation angle or a combination of the two.
Target Industries
Niche Manufacturing
Business Services
Value-Added Distribution
Target Investment Profile
While every investment is different, we look for companies that fit these parameters:
Investment Range: $10-50mm
Revenue: $10-200mm
EBITDA: $4-20mm
An experienced and motivated management team
A product or service that provides a high value to customers and has strong barriers to entry
A diversified customer base and EBITDA margins over 10% within growing, sustainable industries
Significant free cash flow, with low capex and working capital requirements
Private Credit
Credit Investment Approach
In our credit funds, we invest in unitranche debt, subordinated debt, structured junior capital and minority equity. We provide capital to support management and leveraged buyouts, generational transfers, acquisitions, capital projects and general growth.
Target Industries
Industry agnostic
Target Size Profile
Investment Range: $10-50mm
Revenue: $10-300mm
EBITDA: $3-25mm
Private equity - ASCEND
Private Equity - Ascend Investment Approach
Leveraging our 25-year history investing in private equity, Ascend pairs the Graycliff approach with a focused small-cap strategy. We are expanding our reach in the lower middle market, targeting founder- and family-owned businesses with a continued focus on control buyouts, primarily of U.S. based businesses. Ascend is committed to investing in small businesses in partnership with exceptional management teams to drive growth, unlock potential and deliver strong returns.
Target Industries
Niche Manufacturing
Business Services
Value-Added Distribution
Target Investment Profile
While every investment is different, we typically look for companies that fit one or more of these parameters:
Investment Range: >$5mm
EBITDA: $1-4mm
Differentiated products or services that provide high value to customers and are defensible with meaningful barriers to entry
Situations that will benefit from investment to create value and a long-term sustainable competitive advantage
Well-positioned within addressable markets of sufficient size to support long-term growth
Significant free cash flow, with low capex and working capital requirements and the potential for increasing operating leverage