Fulton Equity [www.FultonEquity.com] is a Cleveland, OH-based holding company that invests in lower middle market businesses. We use a long-term, growth oriented approach that may be perfect for those owners who are searching for a liquidity event, but still care deeply about the long-term positioni…
Fulton Equity [www.FultonEquity.com] is a Cleveland, OH-based holding company that invests in lower middle market businesses. We use a long-term, growth oriented approach that may be perfect for those owners who are searching for a liquidity event, but still care deeply about the long-term positioning of their company, employees, as well as their legacy.
Our deal parameters are:
EBITDA range: $500,000 minimum
EBITDA percentage: minimum 15%
Geography: Cleveland, OH. Other markets considered: Atlanta, Charlotte, Raleigh, Houston
Industries of interest
Industrial
Value-added distribution
Light or niche manufacturing
Business services
Market Dynamics
High fragmentation
Predictability (low cyclicality)
Growing and steady
Company Dynamics
Predictable cashflow and healthy profit margins
Diverse customer base
Low CAPEX
Transition
No succession plan
Owner to retire
Slow transition
Proven management
Criteria that Fulton Equity seeks in partner companies include:
Recurring / reoccurring revenue business models
Unique attributes and differentiation - not competing on price
Barriers to entry / defensible market position
Modest CAPEX requirements
Healthy and attractive margins
Limited customer concentration
Non-cyclical and Economically resilient markets
Team (1)
Recent Transactions (6)
Fulton Equity
All Other Miscellaneous Manufacturing
invested in
Zeronox, Inc.
October 2023
Fulton Equity
All Other Miscellaneous Manufacturing
acquired
HandiCraft, Inc. (as part of LEFCO Worthington, LLC)
August 2018
Fulton Equity
All Other Miscellaneous Manufacturing
acquired
Hanlon Composites, LLC
March 2018
Fulton Equity
All Other Miscellaneous Manufacturing
acquired
Joint Venture with Worthington Steelpac, Inc. (formed LEFCO Worthington, LLC)
June 2008
Fulton Equity
All Other Miscellaneous Manufacturing
acquired
Int'l Container Systems, Inc. (Formed LEFCO Industries, LLC)