Saw Mill Capital has been investing in middle-market manufacturing and service companies since 1997. The firm invests in manufacturing, specialty distribution, and service companies but does not target retail, healthcare services, media/telecom, information technology, financial services, personnel-based services, apparel or businesses driven by fad or fashion. Saw Mill invests $10 million to $75 million of equity in enterprises of $40 million to $200 million in revenue ($5-25 million in EBITDA), although the firm will consider smaller and unprofitable companies as add-on acquisitions for portfolio companies.