Investments

USBid is a value-added distributor of “hard-to-find” electronic and hardware components for critical legacy devices, aircraft, and systems. The Company leverages its in-house expertise and technical resources (in-house, state-of-the-art, accredited testing laboratory) to offer a comprehensive procurement solution for OEM customers across a wide variety of industries.

We led the acquisition of USBid in 2022 and are now working to leverage USBid’s differentiated product sourcing technology and know-how, superior test lab capabilities, and broad vendor relationships to further build a diversified solutions provider focused on solving customers’ most challenging procurement needs.

TowerNorth Development (TowerNorth) is a developer, owner and operator of mission critical wireless infrastructure in the U.S., Latin America and Europe. Wireless carriers and other customers lease space on TowerNorth’s infrastructure to maximize coverage.

TowerNorth was a subsidiary of Centerline Communications at the time of WPH’s investment in 2017. In 2021, TowerNorth was carved out of Centerline Communications and received a minority investment from the Audax Group. We are working to build an international portfolio of wireless infrastructure assets to further support the development of a 5G network.

PumpOne Environmental (PumpOne) is a leading designer and manufacturer of extraction pumps and landfill accessory products used in the removal of leachate from landfills. PumpOne’s pumps are critical components of a landfill’s operation and are needed to remove hazardous liquids and to facilitate the removal of gas byproducts.

In 2022, WPH led the recapitalization of PumpOne, partnering with the existing management team. We are working to build upon the strong PumpOne brand name and reputation to expand into new end markets and expand our product offering.

Globalization Partners (G-P) is a leading AI-powered employer of record platform. G-P’s Global Employment PlatformTM allows clients to quickly hire employees or contractors in over 180 countries through G-P’s foreign subsidiaries without having to form foreign entities and navigate complex employment laws. The Company provides a full suite of services including payroll, recruiting, HR, compliance and expense reporting.

·Together with TDR Capital, we led the recapitalization of this business in January 2020, working collaboratively with the existing management team. In December 2021, G-P raised capital from Vista Credit Partners to drive further investments in technology innovation and other organic growth opportunities.

https://www.globalization-partners.com/

Adaptec Solutions (Adaptec) is a leading provider of innovative material handling and automation solutions for a diverse set of end markets. The Company designs customer-centric solutions that optimize workflow, enhance safety and reduce costs by integrating equipment, robotics and controls, together with ongoing maintenance and 24/7 support. Adaptec has facilities in New York, North Carolina and Tennessee, and has 80 service technicians supporting customers nationally.

We led the acquisition of four complementary businesses over a four-year time period, and fully integrated these businesses to form Adaptec.

https://adaptecsolutions.com/

Centerline Communications (Centerline) is a leading provider of design, build, and maintenance services of wireless and wireline network infrastructure. 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 this 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), Centerline was recapitalized by the Audax Group and WPH retained a minority ownership position (and BOD seat). Since Audax’s investment, Centerline has completed five acquisitions to further bolster the platform’s national presence and service capabilities.

https://centerlinecommunications.com/

Plainview, NY

Fortbrand Services is a leading provider of maintenance and support equipment to the global aviation industry. Fortbrand’s Ground Support Equipment business provides sales, leasing and short-term rentals of mission critical ground support equipment to airlines, ground handling companies and fixed base operators. The Company’s Airfield Maintenance Equipment business distributes and leases snow removal and maintenance equipment to airports.

We led the recapitalization of this business in March 2019, partnering with existing management and a seasoned industry executive. We are working with Fortbrand to build the premier rental and leasing platform to support the expected growth in air traffic.

https://www.fortbrand.com/

Integrated Warehouse Solutions (IWS) is a leading provider of material handling equipment focused on enhancing the safety and efficiency of loading docks and warehouses. The Company’s products, which include yard ramps, dock boards, pit levelers, seals and shelters, safety barriers, mezzanines, lift tables, pallet trucks and carts, are sold under the leading Bluff, Wesco and Nordock brands. IWS serves virtually every end market throughout the U.S., Canada, Central and South America, and the Caribbean through a broad distributor network supported by production facilities in Texas, Pennsylvania, Ohio and Ontario (Canada).

We led the acquisition of three separate businesses over a two-year time period to form IWS. We have fully integrated these businesses and continue to expand product offerings and geographic coverage across the platform, while aggressively pursuing additional strategic acquisitions.

https://www.iwsolutions.com/

Purgo Holdings (Purgo) is a leading platform of filtration and separation technologies serving the water, infrastructure, process filtration and separation markets. Purgo’s subsidiaries specialize in commercial, industrial, groundwater, and industrial process applications.

WPH and a group of industry executives formed Purgo in 2018 with the acquisition of Lakos Filtration Solutions. Since inception, Purgo has acquired Steri Technologies, LLC, Air and Liquid Systems, LLC, and Superior Manufacturing, LLC. We are working to leverage the brands of each company to drive organic growth while aggressively pursuing strategic acquisitions.

Rhino Tool House (RTH) is a leading provider of assembly line products, material handling solutions, industrial MRO products and value-added services to blue chip manufacturing companies. RTH has a nationwide salesforce that sells directly to OEM customers operating across a wide variety of industrial end markets, with nationwide support.

We acquired Rhino Assembly in 2017 and merged with The Tool House in 2018, creating Rhino Tool House. RTH has made seven acquisitions since 2018. We are working to leverage the Company’s industry-leading product offering and nationwide sales footprint to deliver a compelling value proposition to RTH’s customers, while aggressively pursuing additional strategic acquisitions.

http://www.rhinotoolhouse.com/

West Chester, PA

Comstar is a full-service provider of technology and telecommunications services to corporate and institutional customers. The company’s services include cloud-based VOIP (voice-over internet protocol) phone systems, the installation and maintenance of traditional phone systems, managed IT services, network infrastructure and cabling, and the integration of security, fire and A/V systems.  Comstar’s mission is to be a customer service-oriented “one-stop shop” for the evolving technology needs of small- and medium-sized enterprises.

We led the recapitalization of this business in 2017, investing growth capital and partnering with the existing President/owner to facilitate an ownership buy-in for a long-tenured management team. Wincove supported Comstar in five strategic acquisitions that accelerated its shift to recurring cloud-based services.  We exited our investment in 2022, when the Company was sold to New Era, a global provider of managed IT-services.

http://www.comstar-usa.com/

Long Island City, NY

HHAX is a leading provider of Software-as-a-Service healthcare software solutions to the home care industry, serving both home care agencies and their Payers. HHAX’s cloud-based product offering includes one of the industry’s most robust and innovative agency management systems, and also a unique and powerful data exchange platform, eXchange Suite, that dynamically links Payers and their contracting agencies.

We originated and led this investment in 2014. In 2018, after four years and ~500% growth, the Company was sold to Cressey and Company.

Wolfeboro, NH

GI Plastek is a value-added provider of advanced manufacturing solutions, with a specialty in manufacturing medium to large customized and highly aesthetic plastic injection molded products. The Company offers gas assist, structural foam, and standard injection processes, as well as assembly and other value-added finishing operations.

We worked with management to acquire this orphaned business from its owner, a real estate investment trust, in 2009. We invested heavily in growth initiatives, and ultimately sold the company in 2015 to a publicly-traded investment company and certain members of management

Seattle, WA

Connect-Air is a leading specialty distributor of low-voltage wire and cable products used in critical building applications, primarily HVAC, security, and fire alarm systems. The Company has a large national footprint, with eight locations throughout the US and Canada, and enjoys an outstanding reputation for customer service.

We acquired the company in 2008 from its founders. After seven years, we exited our investment in 2015 when the business was sold to EIS, a subsidiary of Genuine Parts Company, a Fortune 500 business, where it continues to operate as a subsidiary.

Toledo, OH

Impact Products is one of the largest manufacturers and distributors of (non-chemical) cleaning, maintenance and safety supplies, products and equipment in the United States.  The Company serves diverse end markets, including Jan/San, Foodservice, Safety, Office Products, Healthcare, Industrial, Education and Hospitality, and provides industry leading service levels.

We teamed with management to acquire the business from its previous owners in 2006. After making a follow-on acquisition, we exited our investment in 2011 through a sale of the business. Impact is now a subsidiary of a Fortune 500 distribution business.

Kansas City, MO

ROM Corp. is a leading manufacturer of products for the trucking and transportation industries. Product lines include Roll-Up compartment doors, folding safety ramps, and automated bed covers.

We initially acquired the business in 2004, and after several successful years, sold a large majority interest to a leading West Coast based private equity firm. We ultimately exited together in 2013, after nine years. At the time of sale, the business had grown revenues tenfold since our original investment.