Principles
Investment Criteria
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| Investment Philosophy |
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United Fence Contractors' investment philosophy is based on a number of core values
that have served as the foundation for the UFC organization's success. We "Invest" - that
is, we give money away; and, in turn, we look to acquire equivalent value.
Focus on proven talent - We take an active approach to investing; however, we
recognize that a great deal of our success as investors is driven by the management teams
in whom we invest. Given this, we focus on backing partners with a proven track record
of success and a commitment to enhancing the equity value of the company. To foster
this commitment, we stress the alignment of management's interests with our own interest
through management's participation in preformance-based compensation programs.
Long-term value creation - We look to work with our partners to build significant
business capable of sustaining their success and creating value for all stakeholders -
management, employees and shareholders -- over the long haul.
Value-added partner - We focus on opportunities to which we can bring strategic value
in addition to our capital, distinguishing United Fence Contractors from other financial
buyers.
Concentrated resources - While we remain opportunistic in terms of the businesses in
which we invest, we prefer to concentrate our efforts in a select number of investments.
This concentration enables us to focus our capital and the attention of our most
experienced people on the areas of greatest opportunity for the life of our investment.
Balanced capital structure - We are focused on working with our partners to build and
grow businesses over the long term, and we are committed to designing the business'
capital structure to support growth and enhance flexibility. As growth-oriented investors,
we believe it is critical to maintain a balanced capital structure in order to pursue both,
planned and unexpected growth opportunities.
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