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Formed 1989, North American Funds include partnerships with $120 million in equity capital that specialize in acquiring or making substantial equity investments in small businesses with significant growth potential. North American's focus is the acquisition of small businesses with annual revenues of approximately $5 million to $40 million, and EBITDA of $500,000 to $5 million, preferably reflected in the last twelve months results. The firm, however, will consider companies which can demonstrate a sustainable annualized EBITDA of at least $500,000. North American will consider the following industries: Manufacturing, Food & Beverage, Medical Services, Consumer Products or Services, Value Added Distribution/Logistics, Business Services, Education Services, and Financial Services. The industry may be either mature or fast-growing. North American's only limitation is that product life cycles be relatively stable. North American will not consider real estate-related investment opportunities. The Funds are managed by North American Business Development Companies, LLC, whose three founding principals have in excess of 70 years of combined experience in the business development process, and in managing and financing small businesses. Since 1990 the Chicago based team has acquired and exited from nine platform companies. Over an eight year average investment period, these platform companies grew from slightly more than $120 million revenue at acquisition to over $300 million revenue in the year of exit. Approximately one-third of this growth was driven by 14 add-on acquisitions. Shareholder value in these investments increased by over 300%.
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