Norwood Investment Partners, LP

Overview

Norwood Investment Partners, LP is a concentrated, primary research-focused investment firm founded in June 2011 by Charles Hoeveler. The firm specializes in long-only and long/short strategies, primarily investing in small to mid-cap developed markets. Norwood focuses on capital-light service and profitable enterprise software companies with long-term high return on invested capital (ROIC) reinvestment opportunities. The firm's investment approach is centered on proprietary primary research, generating unique qualitative data distilled into three-plus-year cash flow models. This process guides them to select companies with durable competitive advantages and scale, led by aligned senior management and boards, trading at significant discounts to intrinsic value. Norwood's portfolio management philosophy emphasizes concentrated portfolios with long investment horizons and dynamic position sizing to drive performance. As of mid-2025, the firm reported assets under management exceeding $160 million across 15 positions. Notable holdings include APi Group Corp, GFL Environmental, and Clearwater Analytics. The firm's team comprises experienced professionals, including founder and managing partner Charles Hoeveler, who has 18 years of experience in institutional asset management, and CFO Tom Esperance, who joined Norwood in 2017, focusing on accounting, operations, and compliance. Norwood is a registered investment adviser with the Securities and Exchange Commission, and its Form ADV provides detailed information about the firm's business practices and investment risks. The firm reserves the right to modify its current investment strategies and opinions based on changing market dynamics, client needs, and the market in general.

Investment Focus

• Proprietary primary research
• Long-term investment horizon
• Concentrated portfolio
• Focus on companies with durable competitive advantages
• Investments trading at significant discounts to intrinsic value

Portfolio Companies