N-Squared seeks to principally invest in businesses that meet the following criteria:

• Businesses generating revenue of $10 million to $200 million, and minimum EBITDA of approximately $2 million

• We seek to partner with management teams that have a strong desire to remain independent and share our vision of accelerating growth via a buy-and-build consolidation strategy

• Open to investing in a variety of prudently leveraged buyout or recapitalization transactions, including majority recapitalizations of founder-owned businesses (up to 90%, with continuing role for founder structured as desired), minority investments (with ability to gain control in distress), partnership buy-outs, corporate divestitures, roll-ups, and debt recapitalizations