Holdings

Portfolio Companies

All 8 active positions in the Q4-2026 review cycle.

Software

Helix Analytics

Austin, TX · Held since 2022-06
$220.2m
+11.8 (5.7%)

Vertical SaaS platform for mid-market insurance carriers; underwriting workbench + embedded analytics.

LTM Revenue
$100.6m
LTM EBITDA
$23.2m
Multiple
13.8x
Net debt
$100m
Enterprise value
$320.2m
Healthcare

Cardinal MedDevices

Minneapolis, MN · Held since 2021-11
$287.6m
+10.5 (3.8%)

Contract manufacturer of Class II single-use surgical instruments; 3 FDA-registered facilities.

LTM Revenue
$234.8m
LTM EBITDA
$43.1m
Multiple
10.5x
Net debt
$165m
Enterprise value
$452.6m
Industrials

Atlas Cold Logistics

Atlanta, GA · Held since 2020-03
$321.3m
+43.1 (15.5%)

Regional cold-chain 3PL — 14 refrigerated DCs across the Southeast serving grocery and QSR.

LTM Revenue
$364.5m
LTM EBITDA
$65.7m
Multiple
9x
Net debt
$270m
Enterprise value
$591.3m
Consumer

Northwind Brands

Portland, OR · Held since 2023-01
$34.8m
-8.8 (-20.2%)

House of premium outdoor apparel brands sold DTC and via specialty wholesale.

LTM Revenue
$125.8m
LTM EBITDA
$14.6m
Multiple
8x
Net debt
$82m
Enterprise value
$116.8m
Financial Services

Quanta Payments

New York, NY · Held since 2022-09
$507.4m
+53.3 (11.7%)

Integrated payments processor embedded in vertical software platforms (property mgmt, healthcare).

LTM Revenue
$122.4m
LTM EBITDA
$37.9m
Multiple
15.5x
Net debt
$80m
Enterprise value
$587.4m
Business Services

Vertex Facilities Group

Charlotte, NC · Held since 2019-07
$509.4m
+53.9 (11.8%)

Roll-up of commercial HVAC and mechanical services providers across the Sun Belt.

LTM Revenue
$313m
LTM EBITDA
$49.8m
Multiple
12.8x
Net debt
$128m
Enterprise value
$637.4m
Consumer

Lumen Education

Boston, MA · Held since 2021-04
$21.3m
+8.8 (70.4%)

K-12 supplemental learning platform sold to school districts and directly to families.

LTM Revenue
$78.9m
LTM EBITDA
$9.4m
Multiple
7.8x
Net debt
$52m
Enterprise value
$73.3m
Industrials

Steel River Components

Pittsburgh, PA · Held since 2020-10
$367.4m
+45.3 (14.1%)

Precision-machined components for aerospace and defense OEMs; AS9100D certified across 4 plants.

LTM Revenue
$193.9m
LTM EBITDA
$34.1m
Multiple
14x
Net debt
$110m
Enterprise value
$477.4m