For Capital Partners Who Want to Review Real Deals, Not Pitch Decks.
The platform is built before live deal work begins. No transaction is presented until the structure has survived a real stress test.
What Superposition Investments Is
Superposition is a focused lower-middle-market acquisition platform. We buy founder-owned businesses in five sectors and structure every deal around downside survival, not optimistic projections.
Target Sectors
| Sector | Primary Characteristic |
|---|---|
| IT Services: Vertical MSP / MSSP | Contracted recurring revenue, high switching costs |
| Metal Finishing & Surface Treatment | Certification moats, repeat aerospace and defense work |
| Niche Staffing & Recruiting | Branch-level process, repeat employer demand |
| Energy Services: Utility / Electrical / Grid Support | Non-discretionary maintenance, infrastructure dependence |
| Outsourced B2B Services | Embedded in client operations, strong retention |
Capital Structure
| Instrument | When We Use It |
|---|---|
| Private credit | Where normalized cash flow supports the debt service |
| Asset-based lending | Where collateral genuinely supports the structure |
| Passive minority equity | Where needed to complete a sound structure |
| SBA | Never |
The standard is sector fit, process clarity, and a real path to action when a live opportunity appears.
For Private Credit Lenders
We work with lenders who evaluate a lower-middle-market acquisition on normalized cash flow, customer concentration, management depth, liquidity, and downside survival — not on optimistic projections. Every serious opportunity is stress-tested before it reaches a lender conversation.
Stress Tests — Every Deal
| Scenario | Minimum DSCR |
|---|---|
| Base case | 1.50x |
| 20% revenue decline | 1.25x |
| 30% decline or covenant breach | Survival without rescue capital |
Default Underwriting Limits
| Metric | Limit |
|---|---|
| Senior leverage | 3.0x adjusted EBITDA |
| Total leverage | 4.0x |
| Top customer concentration | 15% |
| Top five customer concentration | 40% |
These are not targets. They are ceilings. A deal that requires a charitable reading of any one of them does not advance.
For Passive Minority Equity Partners
We work with passive partners, not shadow operators. Control-seeking capital, board-control demands, and venture-style return expectations do not fit this model.
What a Fit Partner Understands
| This Model Is | This Model Is Not |
|---|---|
| A cash-flow acquisition | A growth bet |
| Structured with replacement management cost included | Dependent on the founder staying |
| Built to work before synergies | Built because of them |
| Governed by written terms before money moves | A handshake arrangement |
What Bench-Ready Means Here
| Requirement | What It Means in Practice |
|---|---|
| Defined fit | Sector, deal size, and return expectations confirmed in writing |
| Clear process | You can review and respond to a live deal within five business days |
| Written confirmation | A short mutual NDA and fit letter on file before a deal appears |
We are not running a fundraise. When a live deal warrants outside capital, the conversation needs to move quickly. Partners who are not already positioned do not fit the timeline.
What You Will See Before a Serious Ask
Before a serious capital ask, the platform has advisor coverage, sector coverage, and a completed deal screen. By the time a live transaction warrants outside attention, the package already addresses the operating thesis, structural weaknesses, stress cases, and management plan.
Every number reflects actual operating performance. Maintenance capex is included. Working capital is treated as a real cash need. Management replacement cost is included. Weak add-backs are stripped out.