Owner Recapitalization & Family Succession
A recapitalization with ICV is an ideal solution for an owner who wants to monetize a portion of his ownership position while continuing to manage day-to-day operations. ICV also backs family management in buying ownership from other family members and/or outside shareholders. By working with ICV, active managers within the family can gain partial liquidity, increase their ownership in the company, continue running the business and provide an exit mechanism for non-operating family members.

Corporate Divestitures & Management Buyouts
We partner with managers in the acquisition of companies they run, but do not own. We look for: (i) noncore corporate asset, where we help managers acquire a division of their parent company; (ii) going private transactions, where we work with management to tender publicly owned shares and take the company private; or (iii) acquisitions of private companies where we partner with management and purchase shares from the controlling private shareholders.

Capital Structure

• ICV invests significant cash equity in each company, typically 40% to 50% of the acquisition price;
• The balance of the purchase price is funded with senior bank debt (no mezzanine debt)

Equity Ownership

• ICV takes the lead equity position or a controlling interest in the company;
• Management always has a meaningful equity position in the company;
• A performance-based stock option program is always instituted to allow the management team to receive disproportionate benefit from the equity appreciation they create.