We focus exclusively in the lower middle market for growth-oriented investment platforms based in North America. Per the graphic below, the lower middle market has an abundance of potential target investments with EBITDA in the $3 to $15 million range. This continues to be a relatively “inefficient” part of the M&A market with lower multiples and limited intrusion from large funds. We have consistently experienced significant multiple arbitrage when applying our strategies to the appropriate business platforms.
fortune 1000
Upper middle market~ 22,000 Companies Revenues between $100M and $500M
Lower middle market~ 360,000 Companies Revenues between $5M and $100M
Small companiesMillions of companies Revenues less than $5M
Bunker Hill Capital invests in smaller lower middle market companies typically with $3 to $15 million in EBITDA
Industry Sectors
Our primary emphasis in sourcing potential investment platforms is focused in three specific industry sectors.