Permanent Capital Vehicle — Est. Discretion

WE DO NOT
BUY TO FLIP.

Salo Capital acquires, builds, and invests in heavy industrial and national security enterprises — with capital that never sunsets, and autonomy we never revoke.

Fund StructurePermanent / No Sunset
Hold HorizonIndefinite
Operating Sectors02
Active Holdings02
Capital Deployed
FUND LIFECYCLE:NONE
CAPITAL STRUCTURE:PERMANENT
SECTOR 01:HEAVY INDUSTRIAL INFRASTRUCTURE
SECTOR 02:NATIONAL SECURITY / DEFENSE
OPERATIONAL AUTONOMY:ABSOLUTE
HOLDINGS:SOLIPARTS A.Ş. — ASPECTUS DEFENCE
MANDATE:ACQUIRE — BUILD — INVEST
FUND LIFECYCLE:NONE
CAPITAL STRUCTURE:PERMANENT
SECTOR 01:HEAVY INDUSTRIAL INFRASTRUCTURE
SECTOR 02:NATIONAL SECURITY / DEFENSE
OPERATIONAL AUTONOMY:ABSOLUTE
HOLDINGS:SOLIPARTS A.Ş. — ASPECTUS DEFENCE
MANDATE:ACQUIRE — BUILD — INVEST
The Divergence

ONE INDUSTRY.
TWO PHYSICS.

CONVENTIONAL PRIVATE EQUITY
  • 5–7 year fund lifecycle, hard exit forced by LP timeline
  • Cost-strip operating model to inflate EBITDA pre-sale
  • Management layers replaced to fit a flip thesis
  • Legacy and workforce continuity treated as negotiable
SALO CAPITAL
  • No fund lifecycle. No forced exit. Capital compounds indefinitely
  • Operating autonomy preserved — we do not run your company
  • Founding leadership retained where it built the business
  • Legacy and workforce protection are underwriting criteria, not PR

"WE HOLD, COMPOUND,
AND PROTECT."

Capital Deployment — Three Vectors

HOW CAPITAL MOVES

Three distinct entry points into industrial and defense enterprise. Same permanence. Same discretion.

VECTOR 01

ACQUIRE

Full acquisition of established, multi-generational mid-market operators. For owners nearing retirement who require certainty — for the enterprise, and for every person on its floor.

Target 100% Ownership
VECTOR 02

BUILD

Co-founding heavy industrial ventures and strategic spin-offs from the ground up, where category-defining infrastructure does not yet exist in acquirable form.

Target Ground-Up Formation
VECTOR 03

INVEST

Long-term strategic stakes in high-conviction defense and technology infrastructure firms navigating R&D cycles too long for conventional capital to underwrite.

Target Strategic Minority / Majority
For Owners, Founders, and Operators

BUILT SOMETHING
THAT SHOULD OUTLAST YOU?

If you operate in heavy industrial infrastructure or national security, and permanence matters more than the highest bidder — we should talk.

Begin a Principal Inquiry
Current Holdings — Live Register

THE
PORTFOLIO

Two enterprises. Two sectors. Zero intention of exit. What follows is the current state of deployed capital — not a pitch, a record.

REGISTER STATUS:LIVE
HOLDINGS:02 ACTIVE
DIVESTITURES TO DATE:00
SECTORS:INDUSTRIAL — DEFENSE
OWNERSHIP RANGE:STRATEGIC STAKE — 100%
REGISTER STATUS:LIVE
HOLDINGS:02 ACTIVE
DIVESTITURES TO DATE:00
SECTORS:INDUSTRIAL — DEFENSE
OWNERSHIP RANGE:STRATEGIC STAKE — 100%
HOLDING 01 / 02

SOLIPARTS A.Ş.

ACTIVE HOLDING

A multi-generational precision-machining operator serving heavy industrial supply chains. Acquired in full under Salo's Acquire mandate — the founding family's succession need met with certainty, not a competitive auction.

Soliparts entered the Salo register as a business whose second generation had run out of runway to hand to a third. The mandate was never to restructure. Plant leadership, technical staff, and floor headcount transferred without modification. What changed was the balance sheet's patience — permanent capital replaced the pressure of a retirement timeline.

Parameter Position
SectorHeavy Industrial Infrastructure
CapabilityPrecision-machined industrial components
Salo MandateAcquire
Ownership Position100%
LeadershipFounding operational leadership retained
Hold HorizonIndefinite — no scheduled exit
StatusActive
HOLDING 02 / 02

ASPECTUS DEFENCE

ACTIVE HOLDING

A strategic defense infrastructure platform operating on R&D timelines that outlast conventional fund cycles by design. Salo's Invest mandate provides the one input this category cannot substitute: capital with no clock attached.

Aspectus Defence sits inside a category where the technology roadmap is measured in program cycles, not fiscal quarters. Conventional growth capital forces a compression that defense-grade R&D cannot survive intact. Salo's position was structured explicitly around that reality — a long-horizon stake sized to fund development through to program maturity, without the exit-driven pressure that typically shortens a roadmap.

Parameter Position
SectorNational Security / Defense
CapabilityStrategic defense infrastructure
Salo MandateInvest
Ownership PositionLong-term strategic stake
Capital RoleR&D-cycle bridge financing
Hold HorizonIndefinite — no scheduled exit
StatusActive
A Standing Position

NO EXIT ON
THE ROADMAP.

Every enterprise on this register was underwritten with the same assumption: we will hold this longer than a fund would let us. That assumption has not changed once.

Discuss Your Enterprise
Capital Allocation Philosophy

CAPITAL
WITH NO
CLOCK.

Every structural choice Salo makes traces back to one design decision: remove the fund lifecycle, and every other incentive changes with it.

LP REDEMPTION PRESSURE:ELIMINATED
EXIT TIMELINE:NOT APPLICABLE
CAPITAL SOURCE:PERMANENT BALANCE SHEET
DECISION HORIZON:GENERATIONAL
LP REDEMPTION PRESSURE:ELIMINATED
EXIT TIMELINE:NOT APPLICABLE
CAPITAL SOURCE:PERMANENT BALANCE SHEET
DECISION HORIZON:GENERATIONAL
The Structural Argument

WHY THE FUND
LIFECYCLE IS THE
PROBLEM

STEP 01

A conventional fund raises from Limited Partners against a fixed term — typically ten years, with a defined investment and harvest period.

STEP 02

That term forces every portfolio decision to be evaluated against an exit clock, regardless of what the underlying business actually needs.

STEP 03

In heavy industrial and defense enterprise — where R&D, retooling, and succession run on multi-decade timelines — that clock is structurally mismatched to the asset.

CONCLUSION

Salo removed the clock. Our capital has no LP redemption schedule, no fund term, and therefore no structural reason to force an exit before the business is ready — if it is ever ready at all.

Deployment Mechanics

THE THREE MANDATES

MANDATE 01

ACQUIRE

Full-ownership acquisition of established, multi-generational mid-market companies — engineered for founders and family owners whose primary constraint is legacy and workforce continuity, not maximum sale price.

Ownership Sought100%
Ideal CandidateMulti-Generational, Owner-Led
Primary TriggerSuccession / Retirement
Post-Close PostureOperational Autonomy Preserved
MANDATE 02

BUILD

Co-founding heavy industrial ventures and strategic spin-offs where the required capability does not exist yet in acquirable form — Salo funds and structures from formation, alongside operating partners who run it.

Ownership SoughtCo-Founding Stake
Ideal CandidateOperating Partner With Domain Depth
Primary TriggerCapability Gap / Spin-Off
Post-Close PostureStructural Partner, Not Operator
MANDATE 03

INVEST

Long-term strategic stakes in high-conviction defense and technology infrastructure firms whose R&D cycles are too long for conventional venture or growth capital to fund without distorting the roadmap.

Ownership SoughtStrategic Minority — Majority
Ideal CandidateDefense / Infrastructure Tech
Primary TriggerLong R&D Cycle Requiring Patient Capital
Post-Close PostureCapital Partner, Board-Level Only
Underwriting Guardrails

WHAT SALO
WILL NOT DO

We will not underwrite a cost-strip thesis. If the plan to make the numbers work depends on headcount reduction, it does not clear our committee.

We will not install a forced exit timeline. There is no internal clock pushing a holding toward a sale process it does not need.

We will not run your company. Operational control stays with the leadership that built the business, unless that leadership asks us not to.

We will not compete for deals on price alone. If the highest bid matters more to a seller than what happens to the business after close, we are not the right buyer.

Committee Review

EVERY MANDATE
STARTS WITH ONE CALL.

If your enterprise fits one of these three vectors, the next step is a direct conversation with our investment committee — not a broker, not a form that goes to a queue.

Begin a Principal Inquiry
Principal Inquiry — Direct Line to Committee

START THE
CONVERSATION.

This inquiry reaches our investment committee directly. No brokers, no intermediary queue, no automated response. Expect a reply from a principal within two business days.