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Criteria

CRITERIA

Consistent with our business strategy, we have identified the following general criteria and guidelines that we believe are important in evaluating prospective targets for our initial business combination.

We will use these criteria and guidelines in our evaluation, but we may decide to enter into our initial business combination with a target business that does not meet all of these criteria and guidelines. We generally intend to focus on the following characteristics in our evaluation of potential target businesses:

criteria and guidelines in our evaluation
  • Size: Companies that alone, or through a strategic combination with another company, have an equity valuation between $1.0 billion to $2.5 billion
  • Sector: Targets in large, growing markets with favorable end market dynamics such as high fragmentation and secular tailwinds. We may target companies that operate in industries that can potentially benefit from scale and synergies from consolidation. As part of our consideration, we may also target ESG-oriented companies that seek to reduce company and/or societal carbon footprints, such as companies participating in the societal shift away from fossil fuels.
    We will seek to leverage our management team’s experience in the broader technology, healthcare, business services, and financial services domains to identify potential companies. We will also seek to leverage our management team’s experience in identifying targets that are either disruptors in their space or are faced with technological disruption.
  • Competitive Differentiation: Acquisition targets that have a unique value proposition and are leaders, visionaries or growing niche players in their respective industries. Demonstrated competitive advantages may include large and sticky customer base, global footprint, significant assets and/or IP, first mover advantage within a sector, or highly skilled labor.
  • Management Team: Companies with strong management teams with established track records who would further benefit from our network and expertise.
  • Financial Profile: Businesses that have growing revenue streams, recurring or highly visible revenue models, low levels of leverage, and already have, or have the potential to generate, stable and increasing free cash flow.
  • Value Creation Opportunities: We are seeking opportunities where our team’s experience can help facilitate a company’s smooth transition into the public market AND assist in accelerating the companies market value post the merger.