Operating Metrics · Performance
Portfolio Operating KPIs
7 portfolio companies · $2177M aggregate revenue
Investment Thesis
Operational Excellence Driving Portfolio-Wide Value
Portfolio companies are averaging 18%+ EBITDA margins with 25%+ revenue growth from entry. Operational improvement playbooks have driven 200-400bps of margin expansion across platform investments, validating the thesis that complexity creates alpha.
Implication 1
Top quartile performers (MedPro, CloudBridge) are tracking to 2.5x+ MOIC — exit readiness acceleration underway.
Implication 2
One watchlist company (below-plan EBITDA) has activated an operational improvement plan with board-level oversight.
Portfolio Performance Matrix
7 companies| Company | Revenue | Rev Growth | EBITDA | Margin | EV / EBITDA | Employees | Rev / Emp | MOIC |
|---|---|---|---|---|---|---|---|---|
NorthStar Physician Partners Healthcare Services | $480M | +85% | $58M | 12.1% | 14.0x | 2,800 | $171K | 1.98x |
Sentinel Security Technologies Industrial Tech | $285M | +73% | $38M | 13.3% | 13.0x | 1,200 | $238K | 2.00x |
Heritage Benefits Group Financial Services | $270M | +50% | $42M | 15.6% | 13.0x | 850 | $318K | 1.81x |
Atlas Manufacturing Solutions Industrials | $395M | +16% | $30M | 7.6% | 9.0x | 1,600 | $247K | 1.35x |
Cascade Data Systems Technology | $112M | +56% | $22M | 19.6% | 17.0x | 420 | $267K | 1.77x |
Pacific Coast Logistics Industrials | $415M | +9% | $21M | 5.1% | 9.0x | 2,100 | $198K | 1.19x |
Summit Behavioral Health Healthcare Services | $220M | +13% | $28M | 12.7% | 12.0x | 1,450 | $152K | 1.18x |
| Portfolio Total | $2177M | $239M | 10,420 | 1.66x | ||||
Watchlist & Action Items
Active monitoringWATCHAtlas Manufacturing Solutions
Below-plan EBITDA growth (25% vs 40%+ target). Management team under review. Operational improvement plan activated Q4 2025. Board meeting scheduled for margin recovery update.