Waveland’s strategy is to finance and partner with entrepreneurs and family-owned entities and to assist with building exceptional businesses in the lower middle market, which we define as companies with less than $75 million in annual revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) between $1 million and $10 million. We believe that the lower middle market is acutely underserved by existing investors and that a compelling opportunity exists to fill that void. In addition to other key criteria, Waveland intends to partner with seasoned management teams of companies that have strong business models and are market leaders of either an expanding or emerging industry. Our necessary transaction objectives include acquisition at attractive values, implementing efficient capital structures that enable our portfolio companies to increase market share and identifying achievable exit strategies that demonstrate compelling investment returns.