The 4H Club
Black Enterprise|Summer 2019

ICV partners has attracted millions in capital, built a portfolio of high-return companies, and diversified private equity by following its core values of staying humble, hard working, honest, and hungry

Derek T. Dingle
The 4H Club

True to form, the leadership of ICV Partners L.L.C. remains focused on the next acquisition target. When you ask the firm’s president Willie Woods the traits and processes that separate his top-flight private equity firm from competitors, he offers its six-year investment in Entertainment Cruises as an example.

In 2006, the firm invested in a small dinner cruise company, then named Premier Yachts, which grossed $35 million and operated in Boston, Chicago, and Washington, D.C. The owner had outgrown its angel investor and sought to expand its line of premium cruise offerings. In examining the business, the natural assumption would be that the costs of maintenance and fuel could make the venture a money pit. Led by Lloyd Metz, a veteran Wall Street dealmaker and one of the firm’s managing directors, the team engaged in further analysis, discovering that these “floating restaurants” sailed short distances in smooth freshwater—not choppy saltwater—with little wear and tear on the vessels and relatively low burn rate of fuel, which represented less than 3% of total costs. The expense structure and operations offered great flexibility since trips could be made to accommodate parties ranging from 10 to 100.

So ICV got to work by first cashing out the angel investor and then merging Premier with its largest competitor, Spirit Cruises, and later acquiring Baltimore Harbor Cruises, which expanded the company’s reach to New York, Philadelphia, Baltimore, and Norfolk, Virginia.

Esta historia es de la edición Summer 2019 de Black Enterprise.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición Summer 2019 de Black Enterprise.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE BLACK ENTERPRISEVer todo
Great Leaders Aren't Born, They're Made
Black Enterprise

Great Leaders Aren't Born, They're Made

Former Aetna CEO Ron Williams shares his decades of leadership lessons in his new book

time-read
6 minutos  |
Fall 2019
How Fifth Third's Kala Gibson Drives Impactful Urban Entrepreneurship
Black Enterprise

How Fifth Third's Kala Gibson Drives Impactful Urban Entrepreneurship

As executive vice president and head of business Banking for Fifth Third Bank, Kala Gibson focuses on helping small businesses gain the resources necessary for them to continue to drive employment, innovation, and impact.

time-read
6 minutos  |
Fall 2019
I Want to Be a Triple Threat
Black Enterprise

I Want to Be a Triple Threat

I always loved Papa John's. I was introduced to it in ’89 in Baton Rouge Louisiana when I didn’t have a lot of money but I had enough money for a big ol’ Shaqaroni pizza—sausage, pepperoni, extra cheese.

time-read
2 minutos  |
Fall 2019
This Young, Black Aerodynamics Engineer Is Rebooting Classics At General Motors
Black Enterprise

This Young, Black Aerodynamics Engineer Is Rebooting Classics At General Motors

THE CHEVY BLAZER HAS GOTTEN A MAKEOVER IN 2019.

time-read
2 minutos  |
Fall 2019
This Dell Exec Took A Leap, And Landed At SVP
Black Enterprise

This Dell Exec Took A Leap, And Landed At SVP

NAJUMA ATKINSON HAS BUILT A 20-YEAR CAREER AT DELL TECHNOLOGIES Inc.

time-read
2 minutos  |
Fall 2019
Power In The Boardroom
Black Enterprise

Power In The Boardroom

EXPANDING BLACK REPRESENTATION IN THE BOARDROOM AND THE C-SUITE REQUIRES ADVOCACY, STRATEGY, AND POSSIBLY, LEGISLATION. TO MEMBERS OF OUR B.E. REGISTRY OF CORPORATE DIRECTORS, HOWEVER, THE DETERMINING FACTOR COMES DOWN TO LEADERSHIP.

time-read
10+ minutos  |
Fall 2019
Has History Met Your Badass?
Black Enterprise

Has History Met Your Badass?

If black women don’t assert power and their place in history, everybody loses

time-read
7 minutos  |
January/March 2019
A Crash Course In Success
Black Enterprise

A Crash Course In Success

Damian Mills’ strategic leadership, talented team, and knack for turning crises into Lucrative Opportunities turned his mega-dealership into an unstoppable force

time-read
8 minutos  |
Summer 2019
Growing Together
Black Enterprise

Growing Together

How strategic alliances between major corporations and african american businesses and organizations can serve as models for economic and social advancement

time-read
10+ minutos  |
Summer 2019
The 4H Club
Black Enterprise

The 4H Club

ICV partners has attracted millions in capital, built a portfolio of high-return companies, and diversified private equity by following its core values of staying humble, hard working, honest, and hungry

time-read
10 minutos  |
Summer 2019