A patient and flexible capital partner to family, founder, and entrepreneur-owned businesses.

about

Launched in 2023, White Mountains Partners (WMP) provides first institutional capital to companies in the essential services, light industrial, and specialty consumer industries.

WMP deploys a committed, flexible pool of capital from White Mountains Insurance Group (NYSE: WTM) and shares WTM’s core principle of thinking like owners.

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Differentiation

We are a differentiated capital partner. Focus and flexibility are among our strongest competitive advantages.

Focus

Expertise in three key sectors: essential services, light industrial, and specialty consumer
Deep understanding of the unique challenges and opportunities facing family and entrepreneur-owned businesses
Dedicated resources and attention to a select number of portfolio companies

Flexibility

Committed pool of flexible capital; no fund-driven restrictions or timelines
Ability to close transactions quickly given streamlined processes
Opportunistic hold period, enabling alignment with our partners’ goals

Financing

No financing contingencies; deal execution independent of capital market conditions
Conservative capital structures; returns not dependent on financial engineering
Cash available for growth initiatives and distributions to owners
Disciplined balance sheet management; fortifies companies during challenging times

Partnership

We are true partners who respect your company’s heritage and culture
We give you the freedom to run your businesses, providing support in our areas of expertise
We do not charge portfolio companies any transaction, monitoring, or other fees
We provide access to the resources of an established, publicly traded parent company that shares our values

Criteria

WMP primarily targets 3 sectors:

Essential Services

Light Industrial

Specialty Consumer

Size

$10-50 million

EBITDA

Equity investment

$50-250 million

equity checks

Geography

Primarily North America

opportunistic internationally

Free Cash Flow

85%+

FCF conversion

First institutional capital

(platforms)

Majority ownership

(or minority with path to control)

Meaningful seller  rollover equity

(20%+)

Industry Characteristics:

Large markets ($3+ billion)
Highly fragmented with significant bolt-on M&A opportunities
Multiple secular, structural, or cyclical growth drivers
Significant revenue visibility

Values

Our core values guide us in every interaction with our partners.

Accountability
Action-Orientation
Continuous Improvement
Resource Maximization
Sustainability

We hold ourselves and our partners to the highest standards of honesty and integrity. We communicate proactively, frequently, and transparently.

We are doers. We say what we mean and do what we say.

Excellence is achieved through dedication to continuous improvement. We strive to get better with each passing day.

We recognize that management’s time is the scarcest
resource. We want you to use that time on what matters most.

We seek to build companies that will endure and thrive over the long term. We take seriously our role as fellow stewards of your business and its legacy.

Portfolio

Sector: Essential Services

Headquarters: Nashville, TN

Enterprise Solutions provides specialty electrical contracting services. Founded in 2003, the company designs, engineers, prefabricates, and installs the electrical infrastructure for the built environment serving customers across several commercial and institutional end markets, including the healthcare, manufacturing, education, and data center sectors.

To learn more, visit www.enterprisellc.com.