In the Business Services sector, Waveland seeks companies exhibiting strong cash flow and recurring-revenue models. We focus on identifying platform companies, which are, or can be, “solutions providers” with the opportunity to build vertical or national businesses and/or new business service models that possess strong infrastructure, consistent recurring revenue streams and low capital expenditure requirements. We believe that this industry vertical is attractive for our LP’s due to the low capital expenditure requirements, high profit margins and recurring revenue models. Combining those attributes with a strong, seasoned management team bodes well for investment success.