Investing Criteria

• Opportunities where a majority equity position can be acquired;

• Ability to scale or leverage the business’ brand position through additional channels, product or market penetration; and

• An engaged management team that knows their industry and who hold a keen interest in growing their business.

• Opportunities in underperforming businesses with development potential that require financial or operational improvement.

• Companies with a diversified supplier and customer base.

What We Typically Avoid

• Very Early-stage or ‘Start-up’ Businesses: PWG is not interested in investing in “start-ups”, making venture capital investments or acting as an “angel investor”.

• Real Estate Investments: We do not look at real estate on a stand-alone basis.

• Owner Dependent Businesses: We avoid businesses that are heavily dependent on a key person or a small group of people. (Any type of brokerage firms)

• Commodity-Centric Businesses: PWG avoids companies in areas such as mining, oil and gas, which are dependent on commodity prices.