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Investment Process and Lifecycle

Initial contact

In addition to our outreach efforts, we frequently receive inbound calls from business brokers, investment bankers, consultants, attorneys, management teams seeking partners to sponsor MBOs, debtor advisors, special assets groups of banks and the like soliciting our assistance in solving capital needs of potential partner businesses.

Efficient evaluation of investment opportunities

When feasible, much of Balmoral’s due diligence can be conducted off-site, if necessary.

We have developed and refined our investment approach over the last decade so that we can move quickly and efficiently to complete a transaction on whatever timeline may be required by the parties with which we do business.

When we engage third-parties to assist us, we call due diligence experts with whom we have long-standing relationships, enabling us to investigate opportunities and make decisions in a streamlined fashion.

Discretion over the investment of capital resides in the principals of the firm who have worked together for nearly a decade. This allows for rapid decision-making that enhances our interactions and responsive with management teams and sellers.

Solving problems at the time we make our capital investments

We try to address the important and often complex needs of sellers and various stakeholders by challenging ourselves to always “be more than just a checkbook.”


We consider it of highest priority to tailor incentive and investment structure for management that align all of us together and reward management for their contributions to the success of the enterprise.

We have experience acquiring assets and businesses going through financial restructurings. We have closed several acquisitions of operating assets from banks and unsecured lenders in UCC Article 9, A.B.C. and/or Chapter 11 & 363 sales.

We have the ability and desire to invest in tax-advantaged pass-through entities like LLCs.

We enjoy good relationships with numerous traditional and non-traditional lenders who understand and finance companies that may have unique needs due to the complexities of every individual situation.

The companies we invest in will be capitalized with modest amounts or no leverage in order to maximize staying power and the availability of financial resources to invest in the business and realize the goals of our company partners’ business plans.  Our investors’ returns derive primarily from growth in free cash flow and only secondarily from the use of financial leverage.

Post-investment involvement

In every deal, where appropriate, we endeavor to work with our management partners to make companies better through constructive influence and optimization of the capital structure.


Our Operating Advisors bolster the resources and experience of the investment team [link to Team page] and offer both hands-on and board-level assistance to the management teams of the companies we invest in.  Thus, managers retain their independence in operating the business and enjoy the access to additional assistance when appropriate.

Additionally, Balmoral offers its partner companies the resources, relationships and experience to identify attractive strategic assets, collaborate on due diligence of those opportunities, negotiate and structure deals and, most importantly, close such “bolt-on” transactions.

Our board representatives offer managers additional bandwidth and expertise in resolving matters pertaining to leases, financing arrangements, insurance, litigation, and the like, which (particularly given the smaller size of the companies we work with, i.e. below $300 million in revenues) may be outside the core-competencies of our management partners.  This allows them to focus on doing what they know best – running the business.

We invariably work with companies’ and managers’ existing reporting packages to monitor the business.  Rather, early in our investment cycles, we work with management to ascertain whether any improvements are advisable with respect to financial and operational reporting in order to track progress toward business plans and as a means to detect and plan for any problems before they threaten the health of the business.

We support companies using our capital infusions to invest in people, systems, new capabilities and technology and working capital to assist our management partners in achieving their business goals.