Juno's Investment Criteria

Juno typically invests $2 million - $25 million in middle market companies with annual revenues in the $10 million - $30 million range. On a case-by-case basis, we also make investments in emerging technology companies that may have considerably less revenue and operating history. Because we have the capital resources to fund an entire investment, regardless of the state of the capital markets, we offer a high degree of certainty in closing the deal. In addition, our capital resources and operating structure allow us to be patient investors with a long-term view to fundamental business building.

As active participants in our portfolio companies, we usually seek to take a controlling interest in the companies in which we invest. However, we do recognize the importance of creating an effective incentive structure; and therefore provide an equity stake or profit sharing program for management.

Juno seeks investment candidates, privately or publicly held, in a wide range of regulated industry categories. The following is a general description of our investment criteria (not all necessary in every acquisition):

	Leading manufacturing companies, selling to national accounts and operating in mature, fragmented markets with an evident barrier of entry from competition.
	An existing strong management team with a demonstrated ability and commitment to operate the company and continue leading the business to new growth opportunities following our investment.
	Established revenues of at least $5 million, with potential for internal growth and/or growth through acquisition or consolidation. Strategic add-on investments for our existing portfolio companies can be smaller.
	Historically profitable businesses with stable and predictable "normalized" cash flow and earnings before interest, taxes, depreciation and amortization (EBITDA) of at least $0.5 million.
	Juno will consider underperforming or turnaround situations due to over leverage or cyclical industry downturn as well as special situations, e.g. environmental or litigation issues.
	We will consider investments in emerging technology companies with a clear path to commercialization.
	We make equity investments between $2 million - $25 million and may consider larger investments in special circumstances.

Please contact us if you have questions about Juno Investments, its investments or acquisition criteria.