My experience and further interest is to work with companies with certain characteristics. These are not specifically industry related, but share the following:
1) Manufacturing or industrial service related
2) Heavy asset / facility base
3) Labor intensive
4) Significant working capital / inventory investment
I have found financially troubled companies with these types of characteristics share many similar flaws and respond to many similar system and process solutions. The specific industry has not been important, and in fact I have gone into new industries with success.
The key is to focus on the drivers of success, and to work with the existing management to utilize their industry specific knowledge in a manner supportive of creating value for the shareholder.
