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
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Australian and New Zealand listed and unlisted companies
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Global operations, opportunities and/or aspirations
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Core technology providing competitive advantage
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Customer base comprising; anchor, multi-sector, and geographically spread customers
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Scalable, cash positive, and "asset light" business model
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Growing revenues and KPI's
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Core leadership team in place
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Clear strategy for growth (organic and acquisition)
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Multi-path exit strategy
Initial Financial Chartacteristics
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Revenue <$150m
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EBITDA <$20m
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Enterprise value $5m - $100m
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Capital requirement $2m - $30m
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Kestrel shareholding >10%
Sectors Avoided
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Bio-technology
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Early stage R&D
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Property
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Retail