About us
Turnout Industries is a Chicago-based diversified holding company focused on acquiring companies with $5-50 million of revenue and at least $1 million of EBITDA.
Turnout Industries was formed in 2021 with committed capital in partnership with a strategic investor. Our flexible structure and indefinite holding period makes Turnout Industries a differentiated investor for lower middle market businesses.
We are committed to approaching each investment opportunity with the appropriate mix of humility and relevant experience. We prefer candor and believe in straightforward communications. We are an excellent partner to management teams and good stewards of our businesses.
Investment Criteria
New Platforms
U.S. and Canada
$5-50 million revenue
>$1 million EBITDA
Control and non-control
Complete junior capital solution, subordinated debt and equity
Situations
Healthy and underperforming
Growth financing through full buyout
Private seller preferred, although we will acquire from institutional owners
Industries
Business Services
Manufacturing
Distribution and Logistics
SUBSECTORS
Food Processing and Ingredients
Testing, Inspection and Certification
Specialty Treatments and Coatings
IT, HR and Marketing Services
