Alexander Thorne
Managing Partner
What we do
Sausalito, California · est. 2009
A fund with a ten-year clock will always sell your company at the wrong moment.
We raise money deal by deal from families who already own operating businesses, so nothing forces a sale on a schedule. Two of our fourteen companies have changed hands since 2009, both because the management team asked.
We buy boatyards, marine electronics, precision machining and the unglamorous suppliers around them. We keep the name, the plant and usually the person who built it.
“We have never once bought a company we intended to sell.”
Between $3M and $12M of profit
Big enough to survive a bad year, small enough that we can help.
A plant we can walk
We visit before we bid, and we talk to the floor, not the deck.
A reason to sell
Retirement, a partner exit, a family split. Not a broker's auction.
What we own today
Six of fourteen · none for sale
Fenwick Marine Works
Boatyard and refit · Alameda, CA
Held 16 yrs since 2010
Tideline Electronics
Navigation and radar · Anacortes, WA
Held 14 yrs since 2012
Bayard Precision
Machining, marine grade · Portland, OR
Held 12 yrs since 2014
Harrow Hydraulics
Deck equipment · Seattle, WA
Held 9 yrs since 2017
Cutler Rope & Rigging
Standing rigging · Sausalito, CA
Held 7 yrs since 2019
Pike Street Coatings
Industrial coatings · Tacoma, WA
Held 4 yrs since 2022
People
Twenty-five people, and the person you meet is the person who does the work.
- Headcount
- 25
- Offices
- 2
Carol Harrington
Managing Partner
Donald Bellamy
Partner
Elizabeth Jamison
Partner
Henry Kirkland
Partner
Kimberly Pemberton
Partner
Melissa Fairweather
Principal
Paul Chadwick
Principal
Rebecca Ravensworth
Principal
Richard Kensington
Principal
Ryan Jamison
Associate
Sarah Bellamy
Associate
Thomas Kirkland
Associate
Bernard Ellsworth
Associate
Norman Ashcroft
Associate
Harriet Hollister
Head of Diligence
Warren Standish
Head of Value Creation
Lydia Danforth
Head of Talent
Edmund Osgood
Chief Financial Officer
Cecilia Alden
General Counsel
Hugh Harkness
Director of Research
Frances Sheffield
Investor Relations
Preston Comstock
Head of Operations
Miriam Norcross
Controller
Walter Whitcomb
Office Manager
Open role
We are hiring an associate, on the waterfront.
Four years in industrials or diligence, and no objection to steel-toe boots two weeks a month.