Haymaker 4 intends to acquire and operate a business in the consumer and consumer-related products and services, retail, media and hospitality industries. However, we are not limited to these industries and we may pursue a business combination opportunity in any business or industry we choose and we may pursue a company with operations or opportunities outside of the United States. Our executives are experienced at recognizing and quantifying the value of brands, and creating strategies to reposition those brands so that they reach their full market potential.
Our management team’s careers have centered on identifying and implementing value creation initiatives within the consumer and consumer-related products and services industries. Steven, Andrew, and Christopher have combined 100+ year careers in the consumer and consumer-related products and services industries by relying on what we believe to be tried-and-true management strategies: cost management and productivity enhancement, and reinvesting the savings behind product innovation, marketing, channel development, and brand building.
Ideal Attributes of a Haymaker 4 SPAC Target
- Size: $500 million +
- Public equity investors prefer larger, more liquid companies
- Dilution from SPAC sponsor is less dilutive on a percentage basis when spread across a larger pro forma equity business
- Business Attributes
- Attractive market positioning and differentiation
- Asset-light with strong cash flow characteristics
- Non-seasonal, non-cyclical, or not regulated
- Growth
- Companies with strong growth prospects or platform to build from
- Our team brings experience and resources (not just capital) to identify and implement value creation initiatives
- Valuation
- Equivalent to a public markets exit without the cost, timing and risk of an IPO
- Same valuation validation as an IPO due to SPAC shareholder approval mechanism, but faster and more accurate feedback
- Appropriate Leverage
- We would seek pro forma leverage levels in line with the ability to service debt and execute growth and optimization plans and appropriate to public companies in industry
- Focus on operations, value creating extensions, and initiatives, not on financial engineering
- Strong Management Team
- Preferably a strong management team that is already in place
- We can supplement existing management with a vast network of executives at any level
- Target Shareholders Rolling Equity
- Minimizes necessity debt and PIPE equity
- Positive signal to market when existing holders, who know the company best, look to stay invested
- Flexible as to minority or majority stakes