Wicks seeks to invest in mid-size and smaller privately held companies and non-core subsidiaries of large corporations that can benefit from strategic redirection, operational improvements, growth capital and additions to the management team. Wicks' strategy is to make initial platform acquisitions at attractive prices in partnership with exceptional industry executives, to substantially improve company profitability and grow revenues and to execute add-on acquisitions. Wicks believes that initially acquiring a platform company and making add-on acquisitions only after validating both the initial investment thesis and the management team serves to substantially mitigate investment risk. The firm also seeks executives who are incentivized by meaningful equity positions in the companies they manage and the resulting rewards for strong performance.
Wicks typically targets $20 - $50 million of equity per investment and controlling equity positions, which facilitate Wicks' hands-on investment approach and foster clear and simple governance. It seeks companies that have established operations and generate profits, generally with operating cash flow (EBITDA) of $5 - $25 million, with flexibility above or below that range for strong opportunities. Capital structures at Wicks companies often consist of Wicks equity and relatively conservative amounts of senior debt.
The Wicks team provides its investments with deep industry relationships, sector-focused operating experience, capital markets knowledge and an overall sense of urgency to achieve strategic and financial goals.