--- title: Persistence Management Holdings description: Persistence Management Holdings owns and operates middle-market companies, including CultureWise and Persistently, and holds them for the long term. --- [**Persistence***Management Holdings™*](https://www.persistently.us/pmh#top) [Portfolio](https://www.persistently.us/pmh#portfolio) [Thesis](https://www.persistently.us/pmh#thesis) [The System](https://www.persistently.us/pmh#systems) [How We Operate](https://www.persistently.us/pmh#operate) [Leadership](https://www.persistently.us/pmh#leadership) Persistence Management Holdings # Our companies run on systems, not heroics. PMH owns and operates a portfolio of middle-market companies built on a single conviction — that organizations scale when structure, clarity and disciplined systems are in place. **We hold for the long term, and we install the systems ourselves.** We strengthen these systems for other companies Through CultureWise and Persistently, the two companies we own. We acquire companies Where applying this approach turns a good business into a durable one. 1Portfolio ## Independent businesses. One common backbone. We build for the long run — no fund, no clock, no exit timetable. Every company we own is a business in its own right, with its own customers and its own reason to exist. What they share is a backbone: the same management system running underneath each one, which is what makes them stronger inside PMH than they would be alone. Current Exited ![CultureWise](https://www.persistently.us/hubfs/persistently-site/66f3907171.png) Acquired 2025Culture ### CultureWise Culture by Design — the heart Culture is what people do when no one is watching, and most companies leave it to chance. CultureWise makes it explicit and teachable: a set of principle-based Fundamentals that name the behaviors driving a company's success, taught and reinforced through simple weekly rituals and light-touch digital nudges. [culturewise.com](https://www.culturewise.com) ![Persistently](https://www.persistently.us/hubfs/persistently-site/74040fd6b8.png) Founded 2022Management ### Persistently Management by Design — the brain Training raises the ceiling for a few top performers; a management operating system raises the floor for everyone. Persistently installs shared management standards in a living, company-specific handbook, then builds the monthly rhythm and cross-functional peer accountability that make them stick and compound. [persistently.us](https://www.persistently.us/?hsLang=en) ![Adtech Systems](https://www.persistently.us/hubfs/persistently-site/abcc9cee77.png) Exited 2022Audio-visual managed services ### Adtech Systems Where the Persistence Management Philosophy and System were built Dustin and Erik acquired Adtech Systems, an audio-visual services business, and transformed it into a global managed service provider before exiting in 2022. The Persistence Management Philosophy and System were built there — not theorised in advance, but developed in the course of running the company. Every part of the five-system model was tested against a real payroll and a real P&L before it became something we offer anyone else. 2Thesis ## Structure outlasts effort. Long before tools and technology, humans won by persistence hunting — never the fastest or strongest animal on the savanna, but the one that could coordinate, communicate and endure. Persistence hunters succeed not through brute force, but by staying locked on their target while the herd scatters. Business is the same game. Markets scatter like herds. Competitors sprint and fade. The companies that win are the ones that stay locked on target and keep moving — together, deliberately, for as long as it takes. This isn't a theory we arrived at from the outside. Dustin Campbell and Erik Waters developed it running Adtech Systems, an audio-visual services business they acquired, transformed into a global managed service provider, and exited in 2022. The philosophy is what survived the exit. Most companies we meet aren't short on effort. They're short on structure. The work is already happening — in meetings, habits, spreadsheets and tribal knowledge. Our job is to make it visible, deliberate and improvable, so the company's capability outlives any individual in it. 3The Persistence Management System ## Integrated systems that leaders can design. Just as the human body functions through interconnected systems, companies thrive when structure, culture, management, operations and strategy work in harmony. 1 Executive Foundations Purpose, values and the executive rhythm that turn intention into commitments. Gives the organization its shape. Partner network 2 Culture by Design Behaviors made explicit and teachable, reinforced by weekly ritual. Pumps life through every other system. [CultureWise](https://www.culturewise.com) 3 Management by Design Shared standards, a living handbook and a monthly cadence that strengthens the middle. Coordinates decisions and enables learning. [Persistently](https://www.persistently.us/?hsLang=en) 4 Operations by Design Documented playbooks, a blueprint and a dashboard that make work and tradeoffs visible. Converts intent into disciplined action. Partner network 5 Strategy by Design Always-on feedback loops from customers, employees and the industry. Breathes in signal, breathes out direction. Partner network 4How We Operate ## What owners can expect from us. We are a small holding company, not a fund. That shapes almost everything about how we buy and how we hold. #### Long-term hold There's no fund clock and no exit timetable driving decisions. We buy companies we intend to own for a long time, which means we can spend the first year on structure rather than on a story for the next buyer. #### Operator-led Both partners have run the kind of business they now invest in — through acquisition, integration, turnaround and exit. We've made these mistakes with our own money and our own people. #### Capacity, not dependence We install systems your team runs without us. A management handbook your managers wrote, a culture your people can teach — the measure of the work is that it keeps compounding after we step back. #### Build from what works Every company we acquire is already succeeding at something. We start by understanding the systems you already run — the meetings, habits and playbooks that got you here — and organize them rather than replacing them. 5Leadership ## Operators, not allocators. ![Dustin Campbell](https://www.persistently.us/hubfs/persistently-site/15b6858d9d.jpeg) #### Dustin Campbell Co-Founder Entrepreneur and operator focused on building organizations that scale through clarity and disciplined execution. Previously Eli Lilly, BCG and Cerberus Capital. MBA, Harvard Business School. ![Erik Waters](https://www.persistently.us/hubfs/persistently-site/3d84223f30.jpeg) #### Erik Waters Co-Founder Operator and investor with a background across private equity, venture capital and privately held businesses. Previously Ascend Learning, GreatPoint Energy and Cerberus Capital. MBA, Chicago Booth. ![Alex Hill](https://www.persistently.us/hubfs/persistently-site/93363da7e3.jpeg) #### Alex Hill Operating Partner · President, CultureWise A decade of leadership across IT services, operations and people operations. At Adtech Systems he scaled a services team that grew ARR tenfold in four years and pioneered much of the continuous-improvement thinking behind the system. Earlier at AVI-SPL and RSM US. MBA, Boston College. ## Work with us. The Persistence Management System isn't a consulting product. It's how we believe companies should be run — and we put it to work two ways. If you're building ### Strengthen the systems you already run If you're ready for the next level of systematization in your business, we can help you identify where to focus and keep building. Reach out and we'll connect you with the right professionals to get you there — our own companies where they fit, and the best practitioners in our partner network where they don't. **Download the Persistence Management System brochure** *PDF · 9 pages* Start a conversation with **Dustin Campbell** [dustin@persistently.us](mailto:dustin@persistently.us) If you're thinking about what's next ### Sell to owners who intend to run it PMH acquires and holds companies for the long term. We aren't a fund — there's no clock and no exit timetable, so the first year can go into structure instead of into a story for the next buyer. Both partners have acquired, operated, transformed and exited a business of their own, and the value we add comes from installing systems, not from leverage or cost-cutting. What we look for EBITDA$1M+ SectorsBusiness services GeographyUnited States A confidential conversation with **Erik Waters** [erik@persistently.us](mailto:erik@persistently.us) © 2026 Persistence Management Holdings, Inc. · Concord, MA [info@persistently.us](mailto:info@persistently.us) [CultureWise](https://www.culturewise.com) [Persistently](https://www.persistently.us/?hsLang=en)