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Investment Criteria

Kestrel seeks to make new investments in mainly Australian and New Zealand listed or unlisted growth companies that require capital and expertise, and with the following characteristics:

 

Non-Financial Characteristics

  • Australian and New Zealand listed and unlisted companies

  • Global operations, opportunities and/or aspirations

  • Core technology providing competitive advantage

  • Customer base comprising; anchor, multi-sector, and geographically spread customers

  • Scalable, cash positive, and "asset light" business model

  • Growing revenues and KPI's

  • Core leadership team in place

  • Clear strategy for growth (organic and acquisition)

  • Multi-path exit strategy

 

Initial Financial Chartacteristics

  • Revenue                           <$150m

  • EBITDA                             <$20m

  • Enterprise value             $5m - $100m

  • Capital requirement      $2m - $30m

  • Kestrel shareholding     >10%

 

Sectors Avoided

  • Bio-technology

  • Early stage R&D

  • Property

  • Retail

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