AWC is an investment firm seeking to partner with existing ownership, management and employees for mutual long-term growth opportunities through mezzanine and equity investments.  We seek investments in businesses with enduring and attractive economics that present opportunities to collaborate with highly capable management and employee interests.  Our investment structures typically provide unique opportunities to enhance business performance and investment returns, and enable broader-based participation in the rewards of ownership and value creation.

AWC is exclusively focused on investing in middle market privately-held companies. With over 150 years of collective experience, AWC partners have worked with hundreds of business owners and management teams running businesses at critical inflection points in terms of their ownership, growth and strategic development. We understand the issues and have the flexibility to structure an investment that best meets those needs. AWC has the flexibility to invest any combination of subordinated/subordinated debt, preferred and/or common equity in either minority (non-control) or majority (control) ownership positions, generally in companies with enterprise values between $25 million and $250 million.

Investment Criteria

We pursue investments in privately-held businesses typically with enterprise values between $25 and $250 million with:

    • Current and sustainable competitive advantages or defensible market positions
    • Collaborative and proven management
    • Strong and durable economics
    • Typically headquartered in the United States 

Investment Size

    • $5 to $50 million of junior capital – both structured equity and mezzanine/subordinated debt with warrants

Deal Type

We focus on ownership transition and growth capital investments.

  • Management buyouts • ESOP buyouts
  • Later stage growth / expansion • ESOP recapitalizations*
  • Acquisition financing • ESOP acquisition financing
  • Recapitalizations* • Corporate divestitures
  * Including partial liquidity for entrepreneurs, family, management teams, ESOP Trusts or sponsors

Targeted Industries

We seek investments across of range of sectors including, but not limited to:

  • Business Services • Government Services
  • Consumer Products/Services • Healthcare Services
  • Defense • Logistics / Transportation
  • Distribution • Niche / Specialty Manufacturing

Form of Investment

Equity, preferred equity, structured equity, convertible debt/equity, subordinated, mezzanine debt or mezzanine debt with warrants in control and non-control investments.

AWC seeks to develop strong multi-faceted partnerships with our clients and with our commitment to an ongoing partnership we deliver results and value beyond the initial transaction. Please contact us to learn more about AWC.