Agawam Partners

Agawam's Investment Guidelines

*Industry Focus*	Business and information services Publishing, programming and content Subscription video and broadband services Broadcast radio and TV Communications infrastructure and services Telecommunications and wireless
*Agawam's Investment*	$2 million to $10 million; larger investments will be considered together with our network of co-investors
*Transaction Types*	Growth capital for developing companies Management buyouts and recapitalizations Corporate spin-offs and divestitures Underperforming companies Turnarounds and restructurings NO SEED ROUND INVESTMENTS
*Company Characteristics*	Proven management team At least 3 yrs operating history Proprietary or "franchise" businesses Enterprise value approx. $50 to $250 MM
*Ownership and Governance*	Agawam will make minority, non-controlling investments, although we must control our ability to monetize each investment. Agawam generally requires board representation, either directly or as part of an investing consortium.
*Investment Horizon*	Target period of three to five years.

AGAWAM · PARTNERS · LLC