Investment Strategy: Criteria

Investment Criteria

Transaction Value	~$5 million to ~$50 million

Company Size	~$1 million to $5+ million in EBITDA ~$5 million to $60+ million in Revenue

Sector	Firms involved in AEC, infrastructure, and the Built Environment Subsectors with high fragmentation and opportunity for growth and expansion

Company Type	Service, product, and technology providers with engrained cultures and focus on human capital management Strong, often long-standing, reputation in served markets

Management	Flexible, preference for teams that will want meaningful ownership going forward

Commitment	We engage a limited number of investments in each fund in order to dedicate time, attention, and resources to support management teams and optimize results

Equity Check	$3 million to $15+ million of equity with commitment to support follow-on investment funding

Management Buyout	We take a controlling stake to inject capital in partnership with management and aide in growth of the enterprise We create an active solution for all stakeholders to align interests at investment entry and going forward

Family Transition	We create value for family companies by helping them execute management transitions We utilize FMI’s expertise and contacts to help families transition and grow their businesses through our investment and partnership

Entrepreneur Capitalization/ Recapitalization	We are uniquely qualified to support entrepreneurs in the next phase of their business through our industry expertise and guidance We work hand in hand with entrepreneurs to achieve their goals

Growth Equity/ Minority Position	We selectively review and pursue opportunities to support new businesses and management We will also review opportunities where existing management retains majority ownership to achieve business milestones