Since our founding in 2006, Platte River Equity ("Platte River") has been committed to the companies that drive the American economy – the so-called Engines of America. These are the businesses we embrace; the ones who operate behind the scenes, receiving less public recognition than they deserve given their invaluable contributions to the country's growth. As a positive force, the Engines of America drive change, adoption, and profitability, but they also work to achieve a delicate balance between competitive advantages and the interests of the investor, the executive, the manager, and the employee. Industry, communities, and families that cohabitate in this special place in America represent the change that has driven the most successful country in history.
We are unwaveringly dedicated to partnering with companies that are delivering exceptional value while upholding the highest standards of quality, safety, and growth. Across many industries, many sectors, and many stories we find success lies in our center, our heart, and our hope for the future.
Over the next several months, Platte River will embark on an initiative with our portfolio company leaders (past and present) to discuss what it means to create – through business building, innovation and entrepreneurship – enterprises that serve as the Engine of America.
We are a TOOL company - for me the very definition of human efficiency. If you look back throughout human history, use of tools has been what has set us apart from other species. It has also been the key mechanism by which society has been able to develop and produce more efficiently and ultimately led to the productivity we enjoy today.
Spartaco is a hand tool company that was founded in 1956. Our brands primarily support electrical power-line and telecommunication line installers and repairers, as well as line-clearance professionals. Our tools are used to build and maintain America's power grids, broadband networks, communication cables, and other important parts of our infrastructure. At their core, the tools we provide help workers perform difficult, dangerous tasks efficiently and as safely as possible.
The work we do is crucial across industries and geographies. In many respects, our tools help drive the engine of American business. Because Spartaco specializes in providing tools to complete critical but often dangerous work, safety is the top priority for both Spartaco and its customers. We are committed to supplying tools that not only enable our customers to perform their tasks safely but also contribute to career longevity across various industries.
Efficiency also plays an essential role in every aspect of our work, which I divide into two fundamental components: our products and our operations.
First, our products are designed and sold with a central focus on efficiency. These tools enable our customers to accomplish remarkable results, enhancing safety and simplifying complex tasks. Second, efficiency must be at the heart of our operational approach. Given the diverse range of industries and customers we serve, it's imperative that our internal processes operate at peak efficiency. We cannot afford wasted time or product failures.
Innovation holds a significant place in our work at Spartaco. While the current dialogue on innovation often focuses on the speed of development, our approach is different. In our industry, where safety is of utmost importance, we strive to find a balance between rapid innovation and the unwavering reliability of our products. To maintain this balance, we rigorously test new technologies, ensuring they not only meet but exceed performance and reliability standards our customers expect. This process reflects our dedication to pioneering advancements without compromising the safety and quality our clients rely on.
Historically, the brands that we own have been the first to develop new tool technologies: hydraulic cutting and crimping tools for utility line workers and fiberglass poles and rodders for connecting telecommunication infrastructure. The industries we serve are essential services, providing power and communications for American industry and society. The demands are ever increasing and drive us forward - there are always challenges that require new products and business practices. We look for improvement every single day.
Ultimately, the power and telecommunications ecosystem is broad and constantly changing. It's alive in a sense. We play our specific and important roles in this ecosystem - assisting service workers in their day-to-day jobs, helping them complete dangerous projects safely, effectively and efficiently. If we can continue to do this, we will be fulfilling our role in serving our customers and enabling them to drive the Engine of America.
- Nicholas Skrobot, CEO of Spartaco