Elmore Companies: Comprehensive Market Research Report
Background
Overview
Elmore Companies is a private investment firm based in Bloomington, Indiana, specializing in acquiring and managing profitable, founder-led, business-to-business (B2B) companies. Established in 1984, the firm focuses on long-term value creation without the intent to sell its portfolio companies. Elmore Companies operates across various industries, including travel management, technology, publishing, manufacturing, professional sports, and staffing.
Mission and Vision
The firm's mission is to invest in companies that align with its values and excite its team, whether they are mission-driven, intellectually stimulating, essential services, or simply enjoyable. Elmore Companies aims to have a positive impact on people, emphasizing that companies are communities of individuals.
Industry Significance
With over 30 years of experience, Elmore Companies has established itself as a significant player in the private equity sector, particularly in the Midwest United States. Its diverse portfolio and strategic approach to acquisitions have contributed to the growth and success of numerous B2B companies across various industries.
Key Strategic Focus
Core Objectives
Elmore Companies seeks to acquire and manage B2B companies that demonstrate strong financial performance and align with its strategic vision. The firm emphasizes long-term value creation and operational excellence, aiming to enhance the growth and profitability of its portfolio companies.
Areas of Specialization
The firm's investment focus spans multiple sectors, including:
- Business Services
- Distribution
- Education
- Food
- Forest Products
- Internet Software and Services
- Machinery
- Manufacturing
- Marketing
- Metals/Mining
- Safety/Security
- Software
- Staffing
- Technology Hardware
This diverse focus allows Elmore Companies to leverage opportunities across various industries, adapting to market dynamics and identifying high-potential investments.
Key Technologies Utilized
While specific technological platforms are not detailed, Elmore Companies employs a data-driven approach to identify and evaluate potential acquisitions, utilizing financial analysis, market research, and operational assessments to inform investment decisions.
Primary Markets Targeted
The firm primarily targets companies in the United States, with a particular emphasis on the East, Midwest, South, and West regions. Elmore Companies focuses on businesses generating between $3 million and $10 million in revenue, preferring to acquire companies from founders seeking to transition their businesses.
Financials and Funding
Funding History
As a private investment firm, Elmore Companies does not publicly disclose detailed financial information or funding history. The firm operates with capital from its partners and reinvested earnings from its portfolio companies.
Recent Funding Rounds
Specific details regarding recent funding rounds are not publicly available. Elmore Companies typically funds acquisitions through internal resources and may seek external financing as needed, depending on the scale and nature of the investment.
Notable Investors
The firm's investors are primarily its partners and their networks, with no public information available about external investors.
Utilization of Capital
Capital is utilized for acquiring new portfolio companies, supporting the growth and development of existing investments, and enhancing operational efficiencies across the firm's holdings.
Pipeline Development
Key Pipeline Candidates
Elmore Companies maintains an active pipeline of potential acquisition targets, focusing on B2B companies that meet its investment criteria. Specific details about individual pipeline candidates are not publicly disclosed.
Stages of Development
The firm engages in various stages of development, including:
- Sourcing: Identifying potential acquisition targets through market research and industry networks.
- Evaluation: Conducting thorough due diligence to assess financial health, operational performance, and strategic fit.
- Acquisition: Negotiating and finalizing acquisition agreements.
- Integration: Implementing strategies to integrate acquired companies effectively.
- Growth and Optimization: Supporting portfolio companies in scaling operations and improving profitability.
Target Conditions
The firm targets companies with strong financial performance, experienced management teams, and potential for growth and operational improvement.
Anticipated Milestones
Milestones include successful acquisitions, integration achievements, revenue growth, and operational enhancements within portfolio companies.
Technological Platform and Innovation
Proprietary Technologies
Elmore Companies does not publicly disclose proprietary technologies. The firm focuses on leveraging industry best practices and operational expertise to drive value creation.
Significant Scientific Methods
The firm employs comprehensive financial analysis, market research, and operational assessments to inform investment decisions, ensuring alignment with strategic objectives.
Leadership Team
Executive Profiles
- DG Elmore – Chairman & Co-Founder
DG has over 30 years of experience co-founding, leading, and acquiring multiple businesses across various industries, including travel management, technology, publishing, manufacturing, professional sports, and staffing. He holds a B.B.A. from Southern Methodist University, an M.B.A. from the Kelley School of Business at Indiana University, and a law degree from the Maurer School of Law at Indiana University.
- Gant Elmore – Partner
Gant is responsible for sourcing and evaluating potential acquisitions and supporting all portfolio companies. He is also the Executive Chairman at Turner Mining Group and Firmatek. Gant holds a B.A. in Economics from Yale University and both a J.D. and M.B.A. with honors from Indiana University.
- Todd Taranto – Partner
Todd oversees the search for and proposal of deals that fit the strategic objectives of Elmore Companies. He has experience in various industries, including technology, travel, staffing, legal, publishing, professional sports, real estate, and forestry. Todd is a graduate of the United States Military Academy at West Point and received an M.B.A. from Indiana University.
- Peter Rumley – CFO
Peter has a background in accounting, having started his career as an auditor at Deloitte. He is a licensed Certified Public Accountant and holds certifications as a Certified Management Accountant and Certified in Financial Management. Peter graduated summa cum laude with degrees in Economics and Accounting from Aquinas College and a Master's in Accounting from Grand Valley State University.
- Emy Huseby – Executive of Administration
Emy specializes in building accounting departments focusing on controls, processes, and efficiencies. She has been with Elmore Companies since 2007 and has a background in accounting and administration.
- Lori Thomas – Executive Assistant
Lori serves as the Corporate Secretary and Director of Administration, ensuring compliance with statutory and regulatory requirements and maintaining key corporate records. She has over 25 years of experience at Elmore Companies.
- Kayla Baker – General Counsel
Kayla joined Elmore Companies in 2021 as Executive Assistant and later transitioned to General Counsel. She earned an Associate’s Degree from the IU School of Optometry and a Bachelor’s Degree from the College of Arts and Sciences at Indiana University.
- Dan Matheny – General Counsel
Dan has over 8 years of experience as a transactional lawyer, representing and advising private equity clients in various transactions, including mergers and acquisitions. He earned a B.S. from Georgetown University and a J.D. from Indiana University’s Maurer School of Law.
Leadership Changes
Recent Appointments
- Andy Haslam – Chief Executive Officer
Andy was appointed as CEO of Elmore Limited, an Australian-based contract mineral processing and development company, effective December 1, 2023.
Resignations
- David Mendelawitz – Chief Executive Officer
David resigned as CEO of Elmore Limited on November 30, 2023.
