Philosophy

We believe in the following investment principles:

1. Invest in people we trust and strive to conduct our business at all times with honesty and integrity.
2. Invest in businesses where both capital and operating expertise are required to optimize the results. We invest in companies to build businesses in partnership with management.
3. Invest in businesses we understand. We do not take research, development or technology risks with products that are core to the financial performance of the business.
4. Use leverage prudently. Using debt is essential to optimize the capital structure but we are thoughtful about the downside of excessive leverage.