We are dedicated to the search for open water, positioning products and services in underdeveloped consumer markets. We specialize in transforming small business acquisitions into value oriented growth enterprises.
Our success is measured by how well we optimize the value we create in the marketplace and the value we create for our investors.
Creating Value in Untapped Markets
About Us
At Open Water Ventures we are especially passionate about consumer products and services companies that improve their customers’ quality of life and promote an active lifestyle. This includes businesses in outdoor recreation, human powered sports, sports and fitness, and education.
We acquire majority interests in businesses with the simple goal of better serving customers.
- Creating a passionate management team focused on excellence
- Implementing strategies that increase market share and optimize product and service offerings
- Implementing business systems that support company growth and operational excellence
- Leveraging and strengthening brand equity
Bob Richards
Principal and founder of Open Water Ventures, Bob has over 30 years of experience in managing consumer products and services companies from start ups to mature businesses. He is CEO of AdventureMed, LLC, a portfolio company, and founded several businesses including Pika Partners, Climbing Wall Advisors, Nittany Ventures and Rockreation.
Bob served as Vice President and Chief Marketing Officer of Valley Grain Products and as a Marketing Director at Nestle Foods, NA. He earned his CPA designation as an accountant with Ernst & Whinney and also holds a Certified Global Management Accountant designation. He completed his MBA at University of Southern California.
Extended Management Team
In addition to its founding partner, Open Water Ventures brings a network of seasoned talent in key technical areas such as product development, sourcing, finance, and legal. These specialists can serve as advisors or take a more active role, as each project requires.
Investment Criteria
Open Water Ventures acquires majority interests in lower middle market companies that provide strategic growth opportunities.
Company Profile
- Manufacture and/or market consumer products and related services either directly to consumers or business to business
- Specific focus in the sports and active lifestyle sectors
- Annual gross revenues in excess of $5 million and sustainable operating profit
- Defensible competitive position based on brand equity, cost advantage or market leadership
- Operate in markets that are growing, fragmented and/or underdeveloped
- Have a solid management team but may require additional management expertise to support sustained growth
Transaction Profile
- Growth capital to fund expansion or acquisitions
- Family held businesses
- Corporate carve outs
- Operational turnarounds
- Management buy outs
- Financial restructurings
- Transaction values ranging from $2 million to $20 million
- As a non-institutional investor, we are afforded greater flexibility in our deal structures and investment horizons
Contact Us
637B South Broadway Street,
Suite 339
Boulder, CO 80305