Our INVESTMENT APPROACH
At Adventures, boring is beautiful.
At adventur.es, we believe boring is beautiful. We’ve participated in our fair share of sexy businesses, from film to fashion to tech. And sometimes it pays off. But boring, in our experience, is far more reliable, profitable, and ultimately fun.
SEEKING BORING BUSINESSES
Boring businesses endure because they consistently solve a meaningful problem and were patiently developed over decades. Their clients, communities, and employees trust their reliability, integrity, and craftsmanship. They won't disappear with trends, or fads. The problems they solve existed two decades ago, and will likely exist two decades from now.
Boring businesses aren't stagnant; they're specialists. They’re not looking for quick PR hits, a flashy new product to “save” the company, or to make a move just to create the illusion of progress. They are perfectly fine to do the same thing day in-and-out, refining their expertise, systems, and service. And, through that commitment to excellence they enjoy systemic health and, yes, profit.
Adventur.es looks for partnerships across industries. Will buildings and homes continue to need heating and cooling? Yes, so we consider HVAC investment opportunities. Will the government continue to need advanced medical professionals? Unless there’s a massive restructuring, yes, which is one reason we invested in MediaCross. In places where it’s warm three quarters of the year, people will continue to dip their bodies in water for pleasure, which is why we invested in Presidential Pools, Spas & Patio in Phoenix, Arizona.
SUSTAINING BORING BUSINESSES
When we invest, our first responsibility is not to screw it up. That’s easier said than done. Most people talk about “value adds,” but we take our cue from physicians and the first priority of the Hippocratic Oath is "nil nocere,” or “do no harm.” Post-close we like to ask questions, listen, and understand, not make sweeping changes and big promises. While no business is flawless, the business was successful before us and should be successful without us.
With that said, we try to help if and when we can be helpful. Looking at thousands of small companies a year and working across a diverse portfolio, we have an unusual vantage point. We’re able to see trends across industries and pick up some useful tricks. When we see an opportunity for improvement, our first step is always a conversation with leadership. Most often, our idea has been previously considered and attempted. But occasionally, we’re able to shine the spotlight on something new, and from there it becomes a collaboration in creating strategy and allocating resources.
Truth be told, our responsibility is not just to seek and sustain boring businesses, but to be boring ourselves. Boring is reliable, faithful, and predictable. Boring is sustainable. We are committed to doing what we say we would, when we said we’d do it. When we invest, we do so with the intention of holding it forever. This gives us no other option than to make long-term decisions, and encourage those around us to do the same. That gives us a slow, steady edge.
Welcome to adventur.es, where boring is beautiful, enjoyable, and adventurous.