CW

Monday IC pack

Investment committee · Monday 12 October 2026 · 8:30am

New teasers this week 5

Open in queue
  • Project Orchard · Premium frozen desserts$9.1M EBITDA · Harbor & Vine PartnersPass
  • Project Lantern · Commercial janitorial – New England$3.4M EBITDA · Pinecrest M&A AdvisorsPass
  • Project Rivet · CNC machining – aerospace$4.6M EBITDA · Wexford Hall & Co.Flag
  • Project Dune · Restaurant franchisor$6.0M EBITDA · Marlow Street PartnersFail
  • Project Saffron · Specialty spice blends$3.3M EBITDA · Tidewell AdvisorsFlag

CIM screens ready for discussion 4

Open in queue
  • Project Summit · Medical device components – orthopedicNo deal-breakers foundPass
  • Project Keystone · Engineered hydraulic componentsLargest customer is 70% of revenue (CIM p. 23)Fail
  • Project Willow · Organic granola and barsTop retailer 28% – close to 30% thresholdFlag
  • Project Cedar · Records management – OntarioNo deal-breakers foundPass

Pass notes awaiting approval 4

Open in queue
  • Project Pebble · Harbor & Vine PartnersValuation guidance of 11x+ is well above where we can underwrite the business
  • Project Mosaic · Stonegate Advisory GroupOil and gas end markets are too cyclical – EBITDA fell 40% in 2020
  • Project Tundra · Larkspur Capital MarketsTwo municipal contracts are 58% of revenue and both rebid in 2027
  • Project Basalt · Wexford Hall & Co.$1.6M EBITDA is below our $3M minimum and there is no fit for an existing portfolio company

Upcoming IC, IOI and LOI dates 4