Investment Portfolio | Trive Capital (2024)

AEVEX, headquartered in Solana Beach, CA, is a leading provider of full-spectrum airborne intelligence solutions for the global intelligence community. The Company’s vertically integrated Intelligence, Surveillance, and Reconnaissance (ISR) platform operates across three lines of business: Aircraft Services, Flight Operations Support, and Intelligence Solutions. AEVEX serves as a trusted provider of end-to-end ISR services from systems engineer and design, to mission execution and data analysis for the U.S. Department of Defense and other agencies worldwide.

AGM Automotive, headquartered in Troy, Michigan, is a leading global supplier of premium interior components and systems, including interior lighting, overhead console systems, technical textiles, electronics and switches and other interior assemblies to the automotive industry. AGM services major OEM and Tier I customers across a number of vehicle platforms. The company provides manufacturing, value-added assembly, warehousing, and in-line vehicle sequencing from four warehousing facilities located in Michigan with an assembly plant in Kunshan, China.

Amteck, headquartered in Lexington, Kentucky, is a national provider of design/build electrical contracting services targeting a diverse mix of greenfield- and expansion-related non-residential construction projects. Amteck supports the facility growth expansion initiatives of companies that operate in the manufacturing, food and beverage, commercial and institutional sectors. The Company’s service offerings include three distinct divisions: core electrical (inclusive of both design build and plan spec work), special services (low voltage work), and service (troubleshooting and repair).

Architectural Surfaces Group, headquartered outside of Austin, Texas, is a leading importer and distributor of natural stone, engineered stone, and related products used in residential construction, commercial construction, and remodeling. From thirteen locations across the United States, ASG operates through three unique brands, Architectural Granite & Marble, Pental Surfaces, and Modul Marble. ASG serves a national customer base, sourcing materials from around the world while ensuring high quality through a network of material inspection professionals overseas. The Company's longstanding relationships with international quarry operators and stone slab factories help ensure availability of supply and a high level of material consistency for ASG's customer set, which includes leading countertop fabricators, architects, interior designers, home builders, and commercial contractors.

Founded in 2005 in St. Louis, MO, Avatara is a specialized service provider that offers small-to-medium sized businesses an off-the-shelf and cost-efficient all-in-one solution for full IT outsourcing. Utilizing its proprietary CompleteCloud software suite and private cloud capabilities, Avatara is a trusted partner for small-to-medium sized businesses in regulatory- and compliance-intensive industries such as Aerospace & Defense, Healthcare, and Financial Services.

Cascade Services is a premier residential tri-trade services platform. Cascade was founded to partner with market-leading HVAC, plumbing, and electrical contractors with best-in-class residential service technicians across the Southern United States. Cascade strives to be the preferred acquiror for family-owned business operators, the ideal employer to its team members, and provide world-class service to its residential customers.

Choice, headquartered in Tyler, TX, is a leading provider of home health, hospice and rehabilitation services to geriatric patients. The Company was founded as a physical rehabilitation practice, but over the last 10+ years, the Company has grown the business with additional service lines and counties. The Company is primarily focused on skilled nursing (between home health and hospice) and rehabilitation therapy, including physical, speech and occupational. The Company also maintains a coding division for internal and external billing. Choice’s mission is to provide the highest level of medical care across the full continuum of care.

Headquartered in Houston, Texas, Circle 8 provides operated and maintained crane lifting and pumping services to the oil and gas, commercial, and industrial markets in the Southern United States. Circle 8 services oil and gas operations in the Permian Basin, Eagle Ford, Mid-Continent region, East Texas and Louisiana, in addition to a variety of petrochemical, refinery, and commercial projects along the Gulf Coast region.

Headquartered in San Antonio, Texas, Claim Assist Solutions is a leading tech-enabled provider of outsourced end-to-end claim solutions for insurance carriers across the United States. Employing a partnership-like approach, Claim Assist Solutions provides nationwide claims adjusting, technology, and other related services to insurance carriers.

Clipper Media, together with its subsidiary, Valpak, is the category leader in direct mail marketing and advertising solutions, reaching over 60 million homes in the US. The company offers an industry-leading array of go-to-market formats, timing, and flexibility for thousands of businesses at the hyper-local to national level. The company’s full suite of digital and print formats is supported by advanced in-house analytics and data to deliver best-in-class audience targeting and return on advertising spend.

Founded in 2014 and headquartered in Edison, New Jersey, ColdTrack is a leading cold chain logistics partner for e-commerce driven direct-to-consumer food and beverage brands. ColdTrack provides high quality, turnkey solutions out of multiple locations strategically positioned around the country. ColdTrack’s portfolio of services includes frozen and cold storage, kit assembly, and parcel shipping optimization and coordination.

Headquartered in Charleston, West Virginia, Core Appalachia is a privately held company focused on the acquisition and operation of producing oil and natural gas conventional and unconventional properties.

Founded in 1994 and headquartered in Atlanta, Georgia, EarthLink offers internet access, premium email, web hosting and privacy and data security products and services to customers throughout the United States. EarthLink also has key partner relationships with several of the industry’s largest providers, enabling the Company to offer products and connectivity services available to millions of households nationwide.

Founded in 2017 as a Provider-Led Shared Savings Entity, Empower Healthcare Solutions is a Medicaid managed care organization serving high-acuity behavioral health and intellectual & developmental disability beneficiaries in Arkansas. Through its dedicated care coordinators, Empower provides a high-touch and members-first approach to managing the physical, behavioral health, and specialized developmental disability services for its beneficiaries.

Field Aerospace operates out of three facilities located in the US and Canada, specializing in aircraft integration, engineering, modification, and support services for government, aerospace, and defense customers. The Company has a 70+ year operating history in aircraft modification and parts manufacturing with a focus on special-mission aircraft including the DHC-8, Challenger, and Gulfstream platforms.

Formula Wellness, based in Dallas, Texas, is a leading provider of health, medical-based wellness, and aesthetics services with a focus on longevity science. The Company takes a personalized approach to wellness, with key services across nutrition, hormone balance, and aesthetics to improve patient longevity inside and out.

Forward Slope, headquartered in San Diego, California, is a leading independent provider of mission-critical software and surveillance solutions for the defense industry. The Company develops advanced software applications capable of integrating disparate data feeds to enable strategic decision making and comprehensive enterprise-level software applications. Forward Slope is also a leader in designing, implementing, and sustaining command-and-control (C2) security systems across the globe.

Founded in 2016 and headquartered in New York City, FoundRae is a luxury jewelry company that designs, manufactures, and sells necklaces, medallions, bracelets, rings, earrings, and other luxury items. FoundRae sells its products through its retail store, website, and wholesale partners. The Company’s jewelry focuses on their ten tenets, which shoppers can mix and match to tell their story and create meaning out of their jewelry.

GreenHunter Resources, Inc., headquartered in Grapevine, Texas, offers water management solutions to operators in unconventional oil and natural gas shale resource plays, primarily in the Marcellus and Utica shales in Ohio and West Virginia. The Company owns and operates commercial salt water disposal (“SWD”) wells as well as a fluid hauling fleet.
*debt investment

HTeaO is a multi-unit franchisor and operator of free-standing drive-thru locations. Stores offer premium tea, water, and related products across Texas, Oklahoma, Kansas, New Mexico, and Florida. HTeaO is focused on serving quality and affordable products while fostering a friendly-neighborhood environment.

Huron, based in Lexington, Michigan, and founded in 1943, is a leading supplier of complex, value-added tubular assemblies, valves and precision machined components for the North American automotive industry. The company is vertically-integrated and utilizes advanced technologies, vertically integrated processes, and state-of-the-art systems to engineer and manufacture a diverse variety of customized products critical engine and transmission applications. Huron is a leader in working with automotive manufacturers and Tier 1 suppliers to deliver fuel-efficient powertrain technologies.

JF Fitness of North America is a leading Crunch Fitness franchisee operating 24 gyms across North Carolina, South Carolina, Georgia, Alabama, Virginia and Maryland. JF Fitness was founded in 2014 and is headquartered in Richmond, Virginia. With 2.5 million systemwide members, Crunch Fitness is the fastest growing big box franchised fitness club system in the High-Value/Low-Price (“HVLP”) category. Crunch offers a comprehensive gym experience, with high-quality cardio, strength training and weightlifting equipment, in addition to group fitness, high-intensity interval training, spin, and yoga classes. Crunch’s members also enjoy a range of value-added amenities, such as personal training, fitness assessments, saunas, tanning beds, and childcare.

Karman Space & Defense, headquartered in Los Angeles, California, is one of the largest independently owned suppliers focused on manufacturing complex systems for the space, missile, interceptor and hypersonic markets. The Company provides design & engineering, precision machining, large part forming, thermal coating, and sub-assembly services while actively adding new capabilities in collaboration with customers.

Founded in 1981, Kittyhawk is a leading provider of Hot Isostatic Pressing (“HIP”) services on the West Coast from its locations in Garden Grove, CA and Canby, OR. The Company is trusted by many of the largest aerospace, defense, and space OEMs to increase the performance and safety of their most iconic platforms. HIP is an integral service that improves the strength and metallurgical properties of casted and additively manufactured parts. Kittyhawk specializes in servicing parts for high-temperature, high-pressure, and high cost of failure applications such as rocket and jet engine componentry.

Lucky Bucks is the largest skill-based coin operated amusem*nt machine (COAM) route operator in the State of Georgia. Trive partnered with the Company through a structured capital investment in 2016 (realized in 2018) and privatized its public holding company, Seven Aces Limited, in 2020.

Madison-Kipp Corporation, headquartered in Madison, Wisconsin, is widely recognized as one of North America's premier, full-service manufacturers of mission-critical precision cast and machined components and systems. The Company services major vehicle and motorcycle platforms across a number of blue-chip OEM and Tier I customers and also provides highly-engineered components to lawn & garden customers. Madison-Kipp's three Wisconsin plants utilize state-of-the-art automated systems to offer a broad range of fully integrated capabilities, making the Company a complete die casting and machining solution.

Headquartered in Los Angeles County, California, NuBridge is a new real estate lending platform that focuses on making first-lien, short-term bridge loans for multifamily, mixed-use, office, retail, industrial, warehouse, mobile home parks, and self-storage properties around the United States. NuBridge is targeting loans that are between $1-$10 million in amount and 12-24 months in term.

With more than 2,000 employees nationally, OWL Services has 21 offices across the U.S. and is headquartered in the Detroit Metro area. OWL provides integrated solutions for all facets of the petroleum convenience and electric vehicle markets, including security, point-of-sale, environmental compliance, and petroleum convenience and EV charging station design, construction, and maintenance.

Precise Packaging, headquartered in Fall River, Massachusetts, is a leading manufacturer of aerosol and pump spray products for the personal care, regulated / OTC, and household end-markets. The Company’s offering includes room sprays, fragrance oils, cosmetic mousses, deodorants, and other solutions. Precise delivers turnkey services from initial laboratory formulation and material sourcing, through production, filling, quality check, and delivery.

Premium Guard is a provider of branded and private label automotive aftermarket filtration products including oil, air, cabin, transmission, and fuel filters to automotive aftermarket retailers, quick lube service centers, wholesale distributors, dealerships, and through e-commerce channels

Pryor Learning, founded in 1970 and headquartered in Mission, KS, offers award-winning and affordable subscription access to its content library of 5,000 courses, as well as live and virtually delivered seminars targeted at training and upskilling entry to mid-level professionals. Pryor’s comprehensive content library, ease of implementation, and varied delivery modalities make the Company the training partner of choice for individuals, teams, and tens of thousands of small-to-medium sized enterprises.

Residential Design Services, headquartered in Anaheim, California, is a leading provider of outsourced interior design centers and installation services for residential and commercial builders in the Western United States. Through its extensive network of design centers, RDS provides customized sales and installation services for a wide variety of interior surface products, including flooring, countertops, wall tiles, window treatments, finish carpentry, and other interior finishes. With a reputation for delivering an expansive selection of high quality products, reliable installation services, and exceptional customer service to homebuyers, the Company has cultivated longstanding relationships with large national and regional homebuilders and commercial real estate developers.

Founded in 2011, RPM is a technology-driven, asset-light provider of transportation management solutions across new and used finished vehicle logistics and other specialized freight markets in North America and Europe. The Company is trusted by many of the largest auto OEMS to transport vehicles, safely and efficiently, from origin to destination. RPM specializes in using its diversified network of carrier relationships and proprietary technology platform to provide customers with flexible, reliable, and cost-efficient transportation solutions, regardless of nuance and supply chain volatility.

Founded in 1993, Rubicon Bakers produces high quality, scratch-made baked goods that offer a complete solution for in-store bakeries. Rubicon’s in-house product development team creates innovative and delicious new offerings including vegan and plant-based options. Rubicon’s bakery combines efficiency from state-of-the-art equipment with unique hand-finished details to provide compelling and differentiated treats to customers on a national scale. Rubicon is a mission-driven organization that combats structural barriers to employment by hiring those who have been incarcerated, homeless, or recently recovered from substance abuse.

Southern Towing Company, headquartered in Memphis, Tennessee, is an inland tank barge operator specializing in the transportation of anhydrous ammonia and bulk liquid fertilizer products throughout the Mississippi River System and the Gulf Intracoastal Waterway. The company also provides towing services for other commodities, including refined petroleum, chemicals, coal, grain, and aggregates. Southern Towing designs and operates new Z-Drive vessels to deliver significant fuel savings to its customer base.

Headquartered in Los Angeles, Streamland Media is a facility-based, tech-enabled business services firm that provides critical post-production services for leading feature film, episodic TV and other media studios. The platform operates through four divisions with multiple locations in Los Angeles, Vancouver, Copenhagen and the United Kingdom, focused on complementary areas of the post-production services supply chain. The Company services a diverse set of studio relationships and related content by leveraging the unique capabilities of each division including finishing, sound design and editing, color editing, dailies and visual effect services.

Systems Innovation Engineering (SIE) provides defense suppliers with strategic solutions that drive efficiency and effectiveness in product development, manufacturing and sustainment. Through technical capabilities and decades of expertise, SIE is committed to working with suppliers to improve supply chain reliability for critical defense technologies.

Headquartered in Cranfield Bedfordshire, England, Tenpin is a leading bowling alley and family entertainment center operator with centers across the United Kingdom. Tenpin strives to offer its customers a best-in-class experience through a suite of activities including bowling lanes, arcade centers, escape rooms, karaoke, laser tag, billiards, table tennis, and soft play. The Company is the 2nd largest bowling center in the UK with a dual-focus on estate expansion and sustaining investment into existing centers.

Founded in 2007, Terraboost Media owns and operates an out-of-home advertising network comprised of more than 100,000 wellness displays located prominently inside America’s leading pharmacies, supermarkets, specialty retailers, shopping centers and other strategic locations. Terraboost’s wellness displays dispense sanitizing solutions while simultaneously generating billions of monthly advertising impressions. Advertisers (who include the likes of major CPGs, pharmaceuticals, technology, regional hospitals, and local real estate and regional service providers) can engage their target audience nationally, regionally, or locally, while utilizing rich data to achieve their marketing goals.

Established in partnership with seasoned consumer packaged goods (“CPG”) industry executives, Thriving Brands is a consumer products company focused on the development and rejuvenation of consumer brands. Thriving Brands currently serves the antiperspirant and deodorant (“APDO”) and personal cleansing categories through the Right Guard and Dry Idea brands and plans to acquire strategic assets in adjacent categories to build a full suite of Thriving Brands to meet the personal care needs of consumers.

Headquartered in New York, New York, uSell is a large market maker of used smart phones. The Company purchases devices from major carriers, retailers, and logistics providers, then distributes these devices throughout the world – through wholesale and direct channels – using both its internal sales force and its automated marketplace platform.

Valence Surface Technologies, headquartered in Houston, Texas, is the largest independent metal finishing company serving the Aerospace & Defense industry. Valence is comprised of eight leading metal finishing companies based in Los Angeles, San Francisco, Wichita, Tulsa, Eastman, Georgia, and the Pacific Northwest. The combined platform operates nine facilities that collectively offer a diverse range of metal finishing capabilities, including anodizing, plating, non-destructive testing and various surface treatments, as well as sub-assembly, for aluminum, titanium and steel components and structures for military, commercial and general aviation platforms.

Valor Healthcare is an outsourced provider of high-quality primary care and mental health services to veterans in the United States among a range of other services tailored to meet the specific needs of local Veterans Administration (“VA”) medical centers. Valor operates more than 35 VA community-based outpatient clinics (“CBOCs”) as a contractor for the US Department of Veterans Affairs.

Headquartered in San Francisco, California, Veltris is a next generation technology services firm specializing in building solutions for Data & Artificial Intelligence (“Data/AI”), Engineering R&D (“ER&D”) and Digital Product Engineering Services (“PES”). Veltris delivers these offerings to a wide array of SMB and Fortune 500 clients through a global delivery model from its headquarters in the U.S. and its global locations in Canada and India.

Venturi Supply, headquartered in Phoenix, Arizona, specializes in providing mission-critical pipe, valves, fittings, and engineered products to a diverse customer base across the Commercial & Industrial, Fire & Life Safety, and Energy sectors. In addition to its extensive product portfolio, Venturi offers a range of value-added services and custom solutions, including fabrication, onsite actuation, pipe coating and inspection, and inventory management.

Vitesse Systems, founded in 2002, is a leading manufacturer of complex critical components and a vertically integrated platform with complementary capabilities and expertise in brazing, machining, 3-D printing and finishing.

WDC Acquisition LLC specializes in manufacturing premium grade aluminum and magnesium sand castings. The Company is best known for producing large, complex castings with high strength, close tolerances, and near perfect integrity primarily for aerospace applications. Their customers include many of the world’s leading producers of military and commercial helicopters, jet engines, rockets and missile systems. WDC Acquisition LLC is based in Creston, Iowa, and is focused on being a premier supplier and partner to the more demanding OEMs in the aerospace market.

Founded in 2000 and headquartered in Salt Lake City, Utah, Wilson Electronics is a technology-driven cellular connectivity solutions provider that manufactures cellular repeaters with commercial, consumer and carrier applications.

Founded in 1946, SSW Advanced Technologies designs and manufactures engineered steel and glass components for the food preservation, cooking and home comfort industries. The Company’s diverse portfolio of products includes glass, wire and sheet metal refrigeration shelving, wire freezer baskets, oven racks and stove grates, and air conditioner fan and coil guards. In addition to design and fabrication, the Company provides powder coating, and nickel, porcelain and zinc finishing. SSW is based in Ft. Smith, Arkansas, and serves its global appliance OEM customer base across 11 manufacturing facilities strategically located throughout the U.S. and Mexico.

Mockingbird Pharma, headquartered in Dallas, Texas, along with its affiliate, Cochran Wholesale Pharmaceutical, is a wholesale distributor of prescription pharmaceuticals. The company offers a broad line of generic pharmaceuticals to customers in 47 states. Mockingbird Pharma’s Garland, Texas distribution center is QAS accredited, while Cochran Wholesale Pharmaceutical’s distribution center in Monroe, Georgia is VAWD accredited.

Headquartered in Boise, ID, NxEdge provides vertically integrated solutions to the semiconductor market. As an advanced equipment components supplier, NxEdge offers custom solutions including machining, anodizing & plating, advanced engineering coatings, fluoropolymer coatings, cleanings and assembly.

ParFab is an Inola, Oklahoma-based provider of components and field services to the downstream energy infrastructure markets. ParFab’s facility is located on 100 acres with access within a 15 mile radius to highways, ports, and rails for shipment. The fabrication division provides steel fabrication, industrial coatings and refractory, and complex welding services. The field services division provides a broad suite of onsite services consisting of heater erection & revamps, specialty welding, code repairs, process unit revamps and turnarounds and recurring maintenance cycle work.

Iowa Northern Railway Company, headquartered in Cedar Rapids, Iowa, is one of the most-recognized short line railroads in the United States. The Company operates over 250 miles of rail in northeastern Iowa, with a main line track running from Manly to Cedar Rapids (through Waterloo/Cedar Falls) as well as several branch lines that connect to the main track. Given its geographic location, IANR primarily serves customers in the corn and ethanol end markets, many of whom operate adjacent to the railroad. The Company also provides transportation to customers in agriculture, energy, and manufacturing and offers value-add services to Class I railroads.

Founded in 1987, NCSG offers a comprehensive portfolio of fully operated and maintained crane, heavy haul and specialized transport services to customers operating primarily in the oil and gas, infrastructure, wind energy and mining end markets in Western North America. The Company’s modern and versatile fleet consists of 350 mobile cranes, over 300 lines of hydraulic platform trailers and 400 conventional trailers, and specialized rigging equipment such as jack and slide systems and hydraulic gantries. NCSG is headquartered in Edmonton, Alberta, and serves its diverse customer base across its 25 branch locations throughout the North-South Energy Corridor.

American Veterinary Group, headquartered in South Florida, was formed for the purpose of acquiring and integrating veterinary clinics, animal hospitals, and other pet care facilities concentrated in the Southeast United States.