Dominion Partners Research
Advisory Approach
Dominion Partners is a boutique investment banking firm founded in 1996 and headquartered in Glen Allen, Virginia. The firm operates with a foundational thesis that the best outcomes for middle-market business owners come from thoughtful, honest advice combined with institutional-quality M&A process execution. Rather than pursuing transaction volume, the firm is known for recommending against deals it believes are not in clients' best interest—a principle that has earned it a reputation for integrity and consistent delivery even under challenging circumstances. The firm's fundamental belief is that excellence, integrity, and delivering results, regardless of market conditions, should guide all advisory relationships.
Dominion Partners' sweet spot is founder-owned and family-controlled businesses in the $5M-$50M enterprise value range across manufacturing, distribution, business services, construction, and healthcare. The firm excels with companies where operational complexity, market specialization, or industry opacity create valuation challenges that require experienced guidance. The principals have collectively completed over 150 transactions and bring deep understanding of manufacturing operations, supply chain economics, and multi-site service businesses.
Sector Focus
Dominion Partners maintains active advisory practices across a diversified set of industries. The firm has particular depth in manufacturing and discrete industrial businesses—precision machining, metal fabrication, contract manufacturing, and specialty manufacturing. These businesses often have technical operations, capital-intensive facilities, and operational complexity that requires bankers who understand plant-level economics.
The firm also maintains strong capabilities in distribution and logistics, serving 3PL providers, specialty distributors, and supply chain services companies. A significant portion of the practice focuses on business services—staffing, facility management, outsourced operational services, and professional services firms. The firm has expanded into construction services, building materials, and related industries where operational leverage and regional market knowledge drive valuations.
Healthcare services is an increasingly important sector for the firm, particularly senior living and assisted living facilities, where Dominion has demonstrated success completing complex portfolio transactions. The firm also advises in food and beverage, packaging, technology services, energy services, and retail.
Process & Fee Structure
Dominion Partners runs professional sell-side M&A processes for its clients. The typical engagement involves comprehensive buyer identification (50-150 targeted buyers depending on market and business type), quality of earnings support, management presentation preparation, and structured data room management. The firm operates on a modified success-fee basis with retainers commonly in the range of $10K-$25K per month (credited against closing fees on successful transactions). Success fees typically follow a modified Lehman formula or negotiated percentage of transaction value, with the firm typically requiring minimum engagement sizes in the $5M-$15M range depending on complexity.
Process timelines typically extend 6-9 months from engagement through close, reflecting the thoroughness of buyer canvassing and the institutional quality of process management. The firm does not push forced sales or artificial urgency; instead, it emphasizes finding the right buyer at fair value.
Buyer Network & Relationships
Dominion Partners has established strong relationships across the private equity landscape, with particular strength among lower-middle-market PE firms. The firm has closed deals with buyers including Bridge Investment Group, Genstar Capital, Industrial Growth Partners, and other established PE platforms in the $5M-$50M target market. The firm also maintains extensive relationships with strategic acquirers—larger manufacturing companies, industrial conglomerates, and add-on acquisition targets of PE-backed platforms.
The firm has particular strength in senior living and healthcare real estate, evidenced by successful portfolio transactions with major healthcare operators and PE-backed senior living platforms. The buyer network also includes family offices, management buyout sponsors, and recapitalization PE firms.
Competitive Positioning
Dominion Partners differentiates through:
- Institutional process discipline — Professional, organized sell-side processes that maximize buyer competition and pricing
- Operational understanding — Principals with hands-on experience in manufacturing, operations, and multi-site service management
- Regional strength — Deep relationships in the Virginia, Carolinas, and Mid-Atlantic market where the firm operates
- Buyer network access — Established relationships with PE firms and strategic buyers in the lower-middle-market
- Integrity-first approach — Known for honest advice even when recommending against transactions
- Industry specialization — Deep expertise in manufacturing, distribution, healthcare services, and business services verticals
Not a Fit If
Dominion Partners typically declines:
- Businesses below $5M TEV (too small for institutional process)
- Founders seeking to retain operational control (firm focuses on full sales/recaps)
- Pure asset sales with minimal enterprise value
- Transactions requiring international expertise beyond regional scope
- Highly regulated businesses (banking, insurance) outside firm's core practice areas
Team
Charles Powhatan Moncure Jr., Principal, Chief Compliance Officer
- Co-founder (1996)
- 30+ years of investment banking experience
- Primary contact for new engagements
- Education: Randolph-Macon College
- Email: cmoncure@dominionpartners.com
- Known for thoughtful advisory and engagement leadership
Frederick Theodore Naschold (Rick Naschold), Principal
- Co-founder (1996)
- 30+ years of investment banking and transaction experience
- Leads deal execution and buyer coordination
- Email: rnaschold@dominionpartners.com
- Phone: 804-418-6271
Anthony Miller, Development Manager
- Client relationship management and business development
Withers Poellnitz, Director of Development
- Senior role in business development and client relations
Track Record
Dominion Partners has completed over 150 transactions since 1996. Recent notable transactions include:
- Somerby Senior Living Portfolio (2019): Advised on sale of nine-asset, 1,359-unit seniors housing portfolio to Bridge Investment Group. Demonstrates capability in complex, multi-asset healthcare real estate transactions.
- StampTech Inc. (2018): Served as exclusive sell-side advisor to StampTech on its sale to Amzak Capital Management, a metal fabrication and stamping services consolidator.
- C.F. Sauer Company (2011): Exclusive advisor on sale of margarine business division to Bunge Oils, demonstrating capability in industrial manufacturing divestitures.
- Soygenetics (2008): Advised on sale of seed treatment business to Winfield Solutions, reflecting agricultural and specialty manufacturing expertise.
- Graphic Innovations (2013): Represented on acquisition in Richmond, Virginia market.
The firm's transaction volume reflects consistent deal-making capability across manufacturing, distribution, healthcare, and services sectors.
Geographic Coverage
Dominion Partners is headquartered in Glen Allen, Virginia and operates primarily throughout the Mid-Atlantic region, with particular strength in Virginia, North Carolina, South Carolina, and adjacent markets. The firm maintains deep local market knowledge in the Virginia/Carolinas corridor while serving clients nationally.
Financial Model
The firm operates on a middle-market focused model: strong institutional process execution without the overhead and bureaucracy of mega-banks. This allows senior bankers to remain hands-on with client relationships throughout transactions rather than delegating work to junior teams.