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.
Differentiation
We are a differentiated capital partner. Focus and flexibility are among our strongest competitive advantages.
- 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
- 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
- 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
- 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.
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.
Team
John Daly
CEO & Managing Partner
Zack Mattler
Principal
John Rebein
Senior Associate
Gary Smith Sr.
Operating Advisor
Sarah Durning
Office Manager
