Trevor Forbes

Prior to Freestone Companies, Trevor served for seven years as President and then CEO of Summit Vehicle Solutions, a holding company providing vehicle management and disposition services to private property and law enforcement and municipal customers throughout the country. During Trevor’s tenure company EBITDA grew ~6x through both organic growth and strategic acquisitions.

Trevor led a successful exit in 2024, producing a +40% IRR for shareholders. Prior to his time leading Summit Vehicle Solutions, Trevor served for six years as an officer in the U.S. Marine Corps leading logistics units and counterinsurgency teams in East Asia and Afghanistan.

In addition to his primary role at Freestone Companies, Trevor is a partner and investor at Grant Street Investments, a closely held private investment office focused on investments in the lower middle market, and serves on the board of Peak Auto Auctions. Trevor holds a B.S. in Mechanical Engineering from Texas A&M University and an MBA from the Tuck School of Business at Dartmouth.

Authored Articles

A fortunate development in corporate America has been the broad consensus that veterans can add tremendous value to an organization….

Thoughts and Finds

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Bullets First Then Cannonballs

“Bullets First, Then Cannonballs” suggests trying out ideas with small, low-risk “bullets” before investing significant resources, as shown in Apple’s…

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Navigating Business Owner Transitions: The Rise of Search Funds in Entrepreneurial Succession

Richard Augustyn’s study “Navigating Business Owner Transitions” focuses on the emergence of search funds as a fresh method for achieving…

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Assessing Quality of Revenue: Critical to Success in Search Fund Acquisitions

Assessing the quality of revenue is essential in search fund acquisitions for achieving success. This article by entrepreneur Richard Augustyn…

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Exploring the Future of Entrepreneurship through Acquisition

“Examining the Future of Entrepreneurship via Acquisition” examines how Entrepreneurship Through Acquisition (ETA) has evolved from a specialized route to…

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On the Nature of Revenue

This paper explores five types of revenue quality: contractual recurring, non-contractual recurring, repeat, actuarial, and transactional. It stresses the importance…

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On the Nature of Programmatic Acquisition Strategies: Their Implementation

The article by Joseph N. Golden, A. J. Wasserstein, and Mark Anderegg, discusses the implementation of a Programmatic Acquisition Strategy…

Book Recommendations

‘The Wager’ recounts the doomed 1741 British naval expedition, from Trevor Forbes’s perspective, spotlighting its leadership failures and lessons. Forbes observes how Captain David Cheap’s reliance on authority, versus John Bulkeley’s influence-driven approach, shaped the crew’s survival after a disastrous shipwreck. Grann vividly portrays the harsh conditions on Wager Island, emphasizing how character, competence, and resilience determine leadership success.
Forbes highlights how the story remains relevant for today’s leaders in terms of adaptability, mentorship, and moral clarity under pressure. For Forbes, The Wager is a profound study of leadership dynamics during extreme adversity and offers timeless insights into courage and human endurance.

‘Son of the Morning Star’ by Evan S. Connell, as perceived by Trevor Forbes, is an intricate analysis of the Battle of the Little Bighorn. The book discusses General Custer’s ambition and mistakes alongside Native American leaders who resisted the United States’ encroachment. Forbes appreciates Connell’s narration of cultural intricacy and personal reasons behind each side. Egoistic moves by Custer are a complete contrast to the desperate struggle by the Native Americans for survival.
Through many scenes, Connie vividly underscores the fearlessness of figures like Sitting Bull and women warriors like Buffalo Calf Road Woman. Forbes says that the book is some form of nuanced account of the tragedy and resilience shaping this event. Connell’s research explores the human and cultural costs of such conquests, delving into leadership, conflict, and the bigger picture of legacy.

Alfred Lansing’s ‘Endurance: Shackleton’s Incredible Voyage’ tells the story of Ernest Shackleton’s Antarctic expedition. Shackleton’s ship, Endurance, got stuck and eventually crushed by pack ice, leaving 28 men stranded. Trevor Forbes’s point of view sees Shackleton’s leadership as outstanding, building morale and cohesion despite severe conditions. His sympathy, discipline, and swift action guaranteed the survival of the crew in extreme cold and isolation.
Shackleton emphasized teamwork and mobility, discarding unnecessary luggage to maximize their chances of survival. The team faced ice floes, starvation, and relentless hardship with hope, fueled by Shackleton’s leadership and optimism. Shackleton further embarked on an 800-mile open-boat trip to South Georgia to procure rescue for his men. Forbes describes the adventure as a lesson in exceptional leadership, resilience, and teamwork. History stands for human resolve and the power of coordinated group decisions in challenging circumstances.

‘The Managers Handbook’, as the name suggests, elaborates on “ five simple steps on how to build a team, stay focused, make better decisions, and crush your competition.” It’s a hands-on guide for managers at all levels which provides actionable advice for everyday challenges. Written by David Dodson, a long-time search fund entrepreneur and prolific investor, the book focuses on easy-to-understand frameworks, strategies, and checklists that help managers make better decisions and lead teams more efficiently.

In ‘The Outsiders’, William N. Thorndike shares the stories of eight successful CEOs who returned exceptionally better results, over a long time period, to their shareholders than their peers. Viewing the CEO role as that of an investor and capital allocator illuminates unconventional strategies used by these CEOs to create substantial value.

A timeless classic in the field of operations, “The Goal” introduces and develops for the reader key management concepts in an engaging and practical way.
Goldratt aims to help businesses achieve continuous improvement by focusing on what truly matters operationally—identifying and removing constraints. He challenges traditional efficiency-driven management, instead emphasizing the importance of problem-solving.
‘The Goal’ is a must-read for anyone looking to build a structure, improve productivity, and embrace a fresh, logical approach to business success. Whether you’re in manufacturing, service, or any other industry, this book offers lessons on achieving operational excellence.

In ‘Titan’, a biography of Rockefeller, Ron Chernow delves into his rise from humble beginnings to becoming the wealthiest man in modern history through his leadership of Standard Oil. This book is a portrayal of Rockefeller’s complex personality while constantly being in the public eye for his shrewd business practices, monopolistic tendencies, his deep religious faith, and his later role as a philanthropist.
Rockefeller’s methods were often ruthless, yet his philanthropic legacy changed industries like healthcare and education. ‘Titan’ is perfect for anyone interested in how power and wealth impacted the industrialization of society.

In ‘The Company’, Stephen R. Bown uncovers the history of the Hudson’s Bay Company (HBC), one of the world’s oldest corporations. Bown takes readers through the company’s formation in the 17th century, its monopoly over the fur trade, and its role in shaping the political and economic landscape of North America. The story reveals how HBC operated not just as a business but as a governing force in uncharted territories, influencing relationships with Indigenous peoples and the development of modern Canada.
The book explores themes of trade, exploration, and colonialism. ‘The Company’ is a must-read for those interested in history, business, and the impact of corporate power on society.

A biography about Jim Simons, the mathematician-turned-financier who revolutionized Wall Street through his hedge fund, Renaissance Technologies. In ‘The Man Who Solved the Market’, Gregory Zuckerman examines how Simons, with his team of world-class mathematicians, developed quantitative trading strategies that defied market norms and consistently outperformed rivals. The book illuminates the secretive world of algorithmic trading and the impact Simons had on the financial industry.

‘The House of Morgan’ is a non-fiction book by Ron Chernow that follows the four generations of J.P. Morgan’s financial empire. The book examines how the Morgan family built an empire that shaped industries, economies, and even governments.
Chernow provides a view of the power, complexity, and evolution of this iconic banking house. ‘The House of Morgan’ is a read for anyone fascinated by finance, history, and the inner workings of global capitalism. Chernow demonstrates how the Morgan legacy helped create modern finance that shaped the 20th-century economy while revealing the moral and ethical dilemmas that accompanied such power.

Tom Nicholas maps the rise of venture capital in the United States, tracing its roots from early American industrial ventures (like the whaling industry) to the high-stakes world of Silicon Valley. Nicholas explores the role venture capital played in shaping innovation and entrepreneurship, from the railroad and automobile industries to modern-day tech giants like Apple, Google, and Facebook.
Nicholas’s goal is to showcase how venture capital has been a driving force behind American innovation and economic expansion. He examines how risk-taking investors have backed transformative ideas, which have led to economic growth and technological change.

The Wager: A Tale of Shipwreck, Mutiny and Murder

by by David Grann

‘The Wager’ recounts the doomed 1741 British naval expedition, from Trevor Forbes’s perspective, spotlighting its leadership failures and lessons. Forbes…

Son of the Morning Star: Custer and the Little Bighorn

by by Evan S. Connell

‘Son of the Morning Star’ by Evan S. Connell, as perceived by Trevor Forbes, is an intricate analysis of the…

Endurance

by by Alfred Lansing

Alfred Lansing’s ‘Endurance: Shackleton’s Incredible Voyage’ tells the story of Ernest Shackleton’s Antarctic expedition. Shackleton’s ship, Endurance, got stuck and…

The Managers Handbook

by David Dodson

‘The Managers Handbook’, as the name suggests, elaborates on “ five simple steps on how to build a team, stay…

The Outsiders

by William N. Thorndike

In ‘The Outsiders’, William N. Thorndike shares the stories of eight successful CEOs who returned exceptionally better results, over a…

The Goal

by Eliyahu Goldratt

A timeless classic in the field of operations, “The Goal” introduces and develops for the reader key management concepts in…

Titan

by Ron Chernow

In ‘Titan’, a biography of Rockefeller, Ron Chernow delves into his rise from humble beginnings to becoming the wealthiest man…

The Company

by Stephen R. Bown

In ‘The Company’, Stephen R. Bown uncovers the history of the Hudson’s Bay Company (HBC), one of the world’s oldest…

The Man Who Solved the Market

by Gregory Zuckerman

A biography about Jim Simons, the mathematician-turned-financier who revolutionized Wall Street through his hedge fund, Renaissance Technologies. In ‘The Man…

The House of Morgan

by Ron Chernow

‘The House of Morgan’ is a non-fiction book by Ron Chernow that follows the four generations of J.P. Morgan’s financial…

VC an American History

by Tom Nicholas

Tom Nicholas maps the rise of venture capital in the United States, tracing its roots from early American industrial ventures…

Freestone Companies

Closely-held private investment partnership focused on acquiring, operating and growing world class businesses in the lower middle-market.

Grant Street Investments

Closely-held private investment partnership focused on entrepreneurial investing through the traditional search fund model.

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