Active Portfolio Companies


SAGEWATER RENEW – Invested April 2014

SageWater Renew is a business newly formed in Alexandria, Virginia in partnership with the principals of national commercial plumbing contractor, SageWater. Renew provides pipe restoration services on a continual basis to apartment and condominium buildings to stop infrastructure corrosion. The service applies 75 year old technology to help owners indefinitely defer pipe replacement. This investment capitalizes on the macro trends of aging multifamily housing infrastructure and the current Clean Water Act requirements and its corrosive impact on piping infrastructure. The Renew solution is a unique offering in the marketplace and is significantly less expensive that pipe lining or replacement. Grindstone made a growth investment in the business along with the principals of SageWater. www.sagewater.com/renew



Fulcrum IT Services Company is an information technology (IT) company based in Manassas, Virginia, that provides IT solutions and services for federal, state, local, and commercial customers. Fulcrum IT specializes in the areas of enterprise systems operations, system and application development, data management solutions, information and infrastructure assurance and intelligence analysis and methodologies.  Grindstone partnered with management and Boyne Capital to make this acquisition.  Through June 2014, Fulcrum has completed three add-on acquisitions and has over 300 employees.

Historical Portfolio Companies

TELSTAR HOSTED SERVICES – Acquired December 2009. Sold to strategic buyer in December 2012.

TelStar Hosted Services provides world class Communication-as-a-Service hosted contact/call center solutions servicing industry leading Enterprise and SMB clients. TelStar serves hundreds of global businesses and call centers from its dual headquarters in Leesburg VA and Denver CO. TelStar’s Communications-as-a-Service suite of offerings include: Enterprise and SMB hosted contact/call center solutions, hosted VoIP telecommunications, on demand predictive dialing, automated voice messaging, advanced ACD & IVR, recording, and call compliance management. Grindstone partnered with management and Williams & Gallagher to make this acquisition.

YOUNG AT HEART PHARMACY – Invested April 2011. Sold to strategic buyer in February 2013.

Flywheel Healthcare d/b/a Young at Heart Pharmacy is a leading edge, high growth institutional pharmacy located in Indianapolis, Indiana.  The Company supplies pharmaceuticals to patients in group homes, workplace clinics, long term care facilities and assisted living facilities using Lean Production, ISO 9000 and Six Sigma operating procedures.  The company was founded by two experienced pharmacy executives in 2009 when they left a larger competitor.  Grindstone made a growth investment in the business and is the only institutional capital in the Company.