Every part of ECP's model, how deals are financed, how businesses are run, how the portfolio is built, is structured around ownership without an exit date.
ECP's inaugural acquisition is currently underway on this model. See Current Activity for details.
No fund clock, no mandated exit. Real estate is purchased alongside the business so ECP owns its facilities rather than leasing them, and cash distributions, not a future liquidity event, are the primary return vehicle.
Debt is cross-collateralized against real estate and underwritten on true EBITDA, derisking the leverage rather than avoiding it. See Deal Structure below for the full capital stack.
Healthcare and industrials are economically uncorrelated: healthcare demand is demographically driven while industrial demand tracks manufacturing activity. A headwind in one rarely coincides with a headwind in the other.
Operating partners are on-site owners, not absentee managers. Every transition is designed to retain key staff and demonstrate that ownership has changed, but the commitment to the business has not.
Every deal is structured as a standalone LLC and capitalized deal by deal: there is no blind pool. Investors see each acquisition before committing capital, with terms negotiated for each transaction.
Preliminary financials reviewed and a valuation range shared early to test alignment before either party invests significant time.
The deal is matched to an operating partner. A site visit and pre-LOI diligence cover operations, HR, financials, real estate, and financing.
An LOI is signed with high confidence in price and structure. As ECP builds its LP base, existing investors will be offered the opportunity to participate first in future acquisitions.
Outside accountant, legal counsel, lender, and any sector-specific regulatory counsel are engaged to complete the transaction.
A seller consulting agreement ensures continuity. The operating partner is on-site from day one, and all employees are communicated to immediately.
Investors will receive regular reporting on business performance and outlook, with distributions communicated in advance.