Target Investments

General Investment Parameters
Investment Size: Minimum investment of $10 million
Company SIze: Market Capitalization ranging from $25 - $250 million
Investment Focus: Traditional Media, New Media Technologies, Traditional Communications, Wireless Infrastructures, Business Services, etc.

Types of Transactions
1) Investments in Small Privately Held Companies
Avalon explores leveraged and management buyouts in smaller, privately held companies with stable revenue and cash flow. There is increasingly attractive deal flow in private media sectors.

2) Co-Investments with Funded Sponsors
Avalon seeks co-investment opportunities in transactions up to $250 million. This strategy has become increasingly important as credit markets remain difficult, presenting unique opportunities for equity investors.

3) Club Deals with Larger Funds
Avalon teams up with larger funds on club deals. Avalon's numerous relationships with larger funds gives us the ability to put large sums of money to work quickly.

4) Investments in Smaller Public Companies
Avalon targets undervalued public companies with significant upside potential. This opportunity is extremely important given the current state of the public markets.

5) Investments with Fundless Sponsors
Avalon welcomes the opportunity to team up with fundless sponsors to explore "below the radar" transactions in the broadly defined media space. If you are a fundless sponsor with an investment opportunity, please send information to dealflow@avalonequity.com.