Wincove invests primarily from our committed permanent capital fund, Wincove Private Holdings, LP. With our unique evergreen fund structure, we are not bound to fixed investment periods or holding constraints.
Without any pressure on our capital, our partner companies can make the best long-term decisions for shareholders, employees, and customers. It also allows us to wait for the optimal time to maximize value for all parties. We are growth-focused. We only utilize leverage on a situational basis, always prudently, and never to engineer our way into an acceptable equity return.
While we are flexible and opportunistic, we concentrate our investments in markets where we have the most experience. We primarily focus on small- and mid-sized Industrial, Business Services, and Infrastructure Services companies that have compelling growth prospects, a differentiated value proposition, and strong company leadership. Most often, our businesses have roughly $20 million to $100 million in revenue at our initial investment. We generally own at least 50% of our businesses, but always have partners (founders and management teams) who are owners alongside us. Once we make the decision to invest, we remain committed to our companies, their management teams, and customers. We recognize all that has made these businesses what they are. We seek to preserve and build upon founders’ work and legacy, and are careful not to disrupt company culture.
We take seriously the impact that our capital can have on our companies, their team members, and communities. As a result, we are highly selective and typically seek a limited number of new partnerships per year. We are proud of the work that we do, and proud to be associated with the men and women leading and operating our businesses.
Centerline is a leading critical infrastructure and network solutions provider that designs, builds, and maintains next-generation wireless, wireline networks, and critical infrastructure facilities. Centerline’s services include wireless services, technical infrastructure solutions, and facilities management. Centerline has a strong presence in the U.S. and Canadian markets with coverage of all 50 states and six Canadian provinces.
We led the recapitalization of the business in 2017, alongside Stone-Goff Partners, partnering with the founder and management team. In 2021, having grown revenues fourfold (including via several bolt-on acquisitions), we exited a majority of our investment via a sale of the business to the Audax Group. WPH retained a minority ownership position and BOD seat.