Its founders learned industry from the assembly line and the deal room. Now the firm is testing whether operational fluency can turn overlooked B2B manufacturers into stronger, more valuable businesses.
HKW reviews more than 1,000 opportunities a year, then applies a four-team system to the few it buys. The unusual part is not the funnel - it is that the exit team gets involved as soon as the deal closes.
A physician-turned-financier is buying up the unglamorous engine room of American healthcare - the home aides, clinical trial sites and hospice teams that most funds overlook.
It writes checks of $25 to $75 million for lower-middle-market companies most investors find too complicated, then spends its time on the operational grind others skip. Its own pitch: 'Profitability Not Required.'
Spotlight Equity Partners buys control of established software companies, then sends operators into the machinery. Its wager is that lessons learned in libraries, databases, identity and industrial maintenance can travel from one niche to the next.