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19-531: Cortec Group targets leading middle-market specialty consumer, business-to-business, distribution and healthcare products and services businesses in partnership with owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Since inception, the firm has raised nearly $ 5 billion of capital across seven investment funds and has completed more than 100 transactions ranging in size from $ 25 million to $ 400 million in purchase prices for its platform investments. Cortec Group

38-636: A key role in the UK and in the other top European economies. According to an in depth report by ESSEC Business School and GE Capital , across the UK, Germany, France and Italy (the EU-4), the mid-market represents a relatively small number of companies (ranging from a low of 1.2% in Germany to 1.7% in France) and yet it generates about one third of private sector revenue and employs about a third of each country's workforce. Combined,

57-438: A number of its other investments. Importantly, the firm has written off $ 0 since 1999 and has permanently written down only two investments during that period. Approximately 95% of the firm's invested capital has generated positive returns. 40°45′10″N 73°58′27″W  /  40.752778°N 73.974063°W  / 40.752778; -73.974063 Middle-market company A middle-market or mid-market company

76-463: A single European or global definition of a mid-market firm is difficult. In the UK, mid-market firms are those with between £15m and £800m of annual revenues. The average UK middle market firm has revenue of £78 million (€98 million) and employs 500 people, similar in size to its German counterparts but larger than the typical mid-market firm in France or Italy. Entities have evolved to serve businesses in

95-404: Is defined in reference to small businesses, which earn less than $ 10 million in annual revenue, and big business, which earn at least $ 1 billion in revenues and are generally the smallest eligible for a credit rating by one of the "major" credit-rating agencies. Investopedia considers middle market firms to be those with sizable annual revenues, ranging from $ 50 million to $ 1 billion, which straddle

114-589: Is one that is larger than a small business and smaller than a big business . Different authorities use different metrics to compare company sizes — some look at revenue , others at either asset size or number of employees — with the result that different authorities give different definitions of the "middle market". Definitions of the middle market are generally derived by dividing the United States economy into three categories: small business , middle-market, and big business . According to figures collected by

133-612: Is owned by private groups, usually as a means of establishment for profit or non profit , rather than being owned by the government . The private sector employs most of the workforce in some countries. In private sector, activities are guided by the motive to earn money, i.e. operate by capitalist standards. A 2013 study by the International Finance Corporation (part of the World Bank Group ) identified that 90 percent of jobs in developing countries are in

152-410: Is to drive middle-market growth. ACG publishes Middle Market Growth online. International alliances such as Alliott Group bring together independent local practices that offer professional services (accounting, tax and legal) to middle market companies targeting growth through expansion to the international marketplace. Private sector The private sector is the part of the economy which

171-469: The fund-raising trail. According to third-party fund reporting sources, under its current leadership, Cortec's realized funds have delivered top quartile or decile returns to its investors. Cortec delivered noteworthy success with its investment in YETI Holdings, Inc., which is reported to have returned >26x invested capital to its limited partners and has generated returns of >4x invested capital on

190-471: The U.S. Census Bureau , the total revenue of all U.S. businesses in 2012 was roughly $ 32.6 trillion. The largest of these companies, which are big businesses with revenue of over $ 3 billion, make up roughly one-third of that total, and businesses with a revenue of under $ 100 million made up about another third of the total revenue. The middle market can thus be defined as the companies larger than small businesses but smaller than big businesses that account for

209-525: The environment than the minimum that is legally required of them. There can be negative effects from the private sector. In the early 1980s, the Corrections Corporation of America pioneered the idea of running prisons for a profit. Today, corporate-run prisons hold eight percent of America's inmates. Since it is from the private sector, their main priority is not rehabilitation, but profit. This has resulted in many human rights violations across

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228-558: The firm was co-led by Mr. Schafler, David Schnadig and Jeff Lipsitz. Coincident with the first and final closing of Cortec Group Fund VII in November 2019, Mr. Schafler moved to the role of "Founding Partner". The firm is currently led by Co-presidents Messrs. Schnadig and Lipsitz. After investing private capital since inception, Cortec raised its first institutional fund in 1990. In 2019, Cortec raised its seventh institutional fund, hitting its hard cap of $ 2.1 billion after only two months on

247-515: The market between smaller companies and billion-dollar giants. The 200,000 plus US-based mid-market companies are essential to America's economic success. They account for $ 10 trillion annually of the $ 30 trillion U.S. private sector gross receipts and 30 million jobs. If the U.S. middle market were a country, its GDP would rank it as the fourth-largest economy in the world. Mid-market companies—companies that are too big to be considered SMEs , but smaller than big, exchange listed businesses—play

266-629: The middle market in the four European countries contributes €1.11 trillion ($ 1.48 trillion) to the EU-4 GDP. This makes the middle market in the EU-4 one of the top 10 economies in the world, ahead of India and Russia. In the study, Professor Ashwin Malshe of ESSEC defined the middle market differently for each country. For example, Italy has 3.7 million firms with revenue of less than€5 million, while Germany has only 1.7 million companies this size this means that applying

285-576: The middle market, including for-profit and institutions of higher learning. In the latter category, the Graziadio School of Private Capital Markets at Pepperdine University produces quarterly and annual data on the middle market via their Private Capital Markets Project. Other entities include the Association for Corporate Growth (ACG), which provides a global community for mergers, acquisitions, and corporate growth professionals. ACG's stated objective

304-564: The middle third of the U.S. economy's revenue. Other authorities define middle-market firms differently. The National Center for the Middle Market at the Ohio State University Fisher College of Business as well as Dun & Bradstreet ’s proprietary database of commercially-active U.S. firms define middle market businesses as those companies with revenues between $ 10 million and $ 1 billion per year. The definition

323-547: The private sector. In free enterprise countries, such as the United States , the private sector is wider, and the state places fewer constraints on firms. In countries with more government authority, such as China , the public sector makes up most of the economy. States legally regulate the private sector. Businesses operating within a country must comply with the laws in that country. In some cases, usually involving multinational corporations that can pick and choose their suppliers and locations based on their perception of

342-458: The regulatory environment, local state regulations have resulted in uneven practices within one company. For example, workers in one country may benefit from strong labour unions , while workers in another country have very weak laws supporting labour unions, even though they work for the same employer. In some cases, industries and individual businesses choose self-regulation by applying higher standards for dealing with their workers, customers, or

361-572: Was founded in 1984 by senior managers of Condec Corporation, then a publicly traded industrial conglomerate. Originally the Consolidated Diesel Electric Company, Condec Corporation was founded in 1942 by Norman I. Schafler, and became a leading manufacturer of robotics, defense, aerospace, and industrial equipment. Condec operated a diversified portfolio of manufacturing companies. Cortec was founded by Scott Schafler (Norman's son), Gerald Rosenberg, and Neal Kayes. Beginning in 1999,

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