Investment Criteria

Mill City Capital seeks to be the lead equity investor with control positions in companies that meet the following criteria:

Location: Companies headquartered in the Midwestern United States, with a particular focus on companies located in the Upper Midwestern states Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota
Type of Company: Established and profitable companies with defensible competitive advantages and which offer the potential for significant future growth, whether organic or through add-on acquisitions
Size – Platform Investments: Enterprise value of $30.0 million to $200.0 million

EBITDA of $5.0 million to $25.0 million; will occasionally consider somewhat larger businesses

Size – Add-on Acquisitions: No minimum size threshold
Equity Investment: Typically $10.0 million – $30.0 million of equity capital, with capability to invest substantially more through co-investment partners
Investment Hold Period: Typically 5-7 year time horizon
Type of Transactions:
  • Buyout of Closely-Held/Family-Owned Businesses
  • Buyout of Orphan/Non-Core Divisions
  • Owner Recapitalizations
  • Buyout of Public Companies
Selected Consumer and Industrial Sectors:
  • Engineered Industrial Products
  • Industrial Services
  • Transportation & Distribution
  • Agribusiness & Food Ingredients
  • Food and Consumer Products & Services
Not within our Investment Parameters: Banking, real estate, media, healthcare or technology companies