Our Approach

Flexible capital. Patient horizon.

The right answer depends on the founder's situation and what they're trying to solve. Our structure is deliberately flexible.

What we target

Investment criteria.

Revenue
$10-100M
EBITDA
$1-10M
Check size
$3-25M
Hold period
Flexible
Investment structures

The right structure for the long term.

01

Majority Buyout

A control acquisition for owners ready to transition, whether fully or gradually as a continuing partner.

02

Minority Recapitalization

A minority investment that lets owners realize liquidity while keeping control.

03

Growth Capital

A minority investment to fund expansion or M&A, with owners retaining control.

04

Debt

Debt or hybrid capital for owners who need financing without giving up equity.

What we look for

A disciplined filter.

  • 01Founder- or family-owned businesses navigating growth, succession, or transition
  • 02Essential, mission-critical services with stable, recurring, or repeat demand and a long history of profitability
  • 03Physical, on-the-ground operations with resilience to AI and automation risk
  • 04Fragmented sectors that support a disciplined buy-and-build strategy
  • 05Clear path to value creation through operational improvement, organic growth, or M&A
Dramatic Sierra Nevada peaks above a mist-filled valley at sunrise
How we compare

A different kind of partner for your business.

Traditional private equity is built around a fund clock. We are built around the business.

Traditional private equity
Sierra Permanent
Why it matters to you
Ownership

Usually requires majority control

Flexible – full, majority, minority, or debt; you can keep meaningful equity

You decide how much of the company and its upside you keep. Liquidity doesn't mean selling 100%.

Investment hold

3-5 years, often dictated by the fund's life

No fixed timeline; we exit when it's right for the business and when timing and valuation align

We're never a forced seller. The hold period fits the business, which means value built to last and less disruption to your team.

Leverage

High, often 3-5x EBITDA

Conservative; only what the business can comfortably service

Less debt, less fragility. Cash funds growth instead of interest.

Source of returns

Maximum leverage and cost cutting

Operational growth, reinvestment, and multiple expansion

Returns come from building the business, not stripping it. Our interests and its health align.

Industry focus

Broad / opportunistic

Essential services only

You partner with people who know your sector and region.