Foundation is focused on making control investments in businesses at the smaller end of the middle market. The Foundation operating model focuses on partnering with management teams to bring the resources and strategic direction necessary to drive growth and margin expansion. Given the greater volatility that sometimes comes with a smaller business, capital structures tend to be very conservative to provide ample liquidity and flexibility. Targets will range from $1 to $10 million in EBITDA. Foundation is particularly interested in niche leaders in the following industries (defined broadly): • Industrial products and equipment• Test and measurement equipment and consumables • Printing and packaging• Infrastructure and commercial construction driven businesses (including related equipment and heavy truck parts)• Software and outsourced business processesWe will look at both healthy and distressed businesses.

Kirtland is a middle market, private equity firm investing in industrial focused businesses with EBITDA between $5 and $25 million.Deal SourcingDeveloped and implemented firm’s first formal deal sourcing strategy larger universe of potential referral sources. Increased the number of opportunities reviewed and number of deal sources by 10x.Value Added Portfolio ManagementDeveloped actionable strategic plans for several portfolio companies in partnership with management and external facilitators. Permanently reduced fixed costs in a portfolio company by over $24 million through a combination of plant consolidations and reductions in force. Established metrics on key expense items driving substantial improvements in purchasing, staffing and labor utilization. Identified and divested non-core assets and business units within portfolio companies. Introduced lean manufacturing resources into several portfolio companies yielding 2x improvements in capacity. Worked with distressed portfolio companies in managing cash and working capital, reducing costs, and communicating and negotiating with lender groups.Capital Raising & Debt RestructuringStructured and negotiated new equity issuances, new debt deals, refinances, and restructurings exceeding $200 million across five portfolio companies.Investment Thesis Development / Deal ExecutionDeveloped investment thesis to consolidate and transform segments of the truck equipment into sophisticated, more profitable businesses.Co-led acquisition team completing five acquisitions in 12 months.Identified synergies and profit enhancement opportunities in acquisition targets. Worked with management on integration plans to quickly realize synergies with the target of doubling EBITDA margins on tuck in acquisition within 6 months. Negotiated purchase prices, deal terms, and all purchase and debt documents.

Responsible for structuring transactions, presenting and negotiating proposals to sponsors and clients, conducting due diligence, negotiating and reviewing documentation, and closing transactions. Managerial responsibilities included the supervision, hiring and training of junior underwriters. Prior to joining Structured Finance Division in 1996, held a number of financial, operational, and management training positions.Reviewed in excess of 200 leveraged cash flow and asset based transactions during two year periodClosed 27 transactions in a thirty-month period with three additional transactions in documentation at the time of departure.