A Connecticut investor has spent three decades buying gearboxes, powder coating and barcode labels - using its own capital, and one unfashionable rule: hold for decades, not quarters.
It bought Lids for less than half what it last sold for, rescued Claire's from liquidation, and calls itself a mini-Berkshire. Ames Watson would rather own a brand for thirty years than sell it in five.
Born from one of the world's best-known restructuring firms, A&M Capital bets that operators, not just financiers, make the better owners of mid-sized companies.