White Mountains Partners

White Mountains Partners (WMP) provides first institutional capital to family, founder, and entrepreneur-owned companies in the essential services, light industrial, and specialty consumer industries. We deploy a committed, flexible pool of capital from White Mountains Insurance Group (NYSE: WTM) and share WTM’s core principle of thinking like owners. WMP seeks to establish majority (or minority with a path to control) positions in companies with $10 to $50 million of EBITDA. We are a differentiated capital partner – focus and flexibility are among our strongest competitive advantages. ▪ Size $10-50 million EBITDA ▪ Equity investment $50-250 million equity checks ▪ Geography Primarily North America (opportunistic internationally) ▪ Free Cash Flow 85%+ FCF conversion