For more than a decade we have remained focused on our strategy of building smaller companies in partnership with management. Throughout this period, we have developed resources and a network of relationships that allow us to evaluate and close investments quickly and to grow the value of small companies.
Throughout our history, we have generated superior investment returns for our investors and management partners due to the following factors:
For more than 10 years, Rockwood has grown the equity value of smaller businesses by building companies in partnership with management. We believe that companies in the lower middle market provide attractive investment opportunities, as well as unique challenges. We have a long history of investing in companies in this market and a track record of working closely with management teams to grow and improve the performance of smaller companies. We are focused on the long-term creation of shareholder value and we seek to leverage our experience as investors in small companies across a range of industries, as well as our broad network of relationships, to assist management in overcoming short-term challenges.
The key to every investment we make is a partnership with operating managers who share our long-term growth vision and who are motivated through a meaningful equity ownership interest in the company. We always encourage management to purchase equity in the company alongside us and also provide stock option plans and incentive bonus programs. We also provide our manager-partners with a value-added board of directors with relevant industry experience to help develop strategy and promote improved decision making.
Since our founding, we have developed an extensive network of current and former senior executives at Fortune 1000 companies as well as entrepreneurs and executives of family-owned companies who have a wealth of experience and relationships across a broad range of industries. We utilize this network for strategic advice, portfolio directorships, industry introductions, and to augment the other operational resources we provide to our management teams to help them execute on their growth strategies.
We firmly believe that our reputation for integrity and for following through on our commitments is the key to our long-term success. As such, we do not enter into transactions lightly, as evidenced by the fact that we have closed on every transaction for which we have executed a letter of intent. In addition to our committed fund, we have strong relationships with lenders and equity co-investors whom we call upon as required in order to fund transactions.
We understand that every transaction is unique and that owners and management teams have both financial and non-financial objectives. We take a flexible approach to structuring transactions in order to address all of your objectives.