Within the middle market, Blackbird focuses on the following core investment criteria:
- Middle market companies with enterprise values up to $500 million
- Business services and niche manufacturing companies
- Defensible market positions with strong macroeconomic or industry growth drivers
- Steady earnings and cash flow across all seasons and phases of the business cycle
- Companies in fragmented markets with multiple opportunities for growth
- Special situations or under-managed businesses
Blackbird will generally target companies with strong management teams, however its ability to leverage the operating expertise of its partners will enable it to invest in businesses in need of improved management.