Proven Growth

Woodland Management, a Pittsburgh, PA-based family
office, co-invests with operators and sponsors in
companies with significant growth potential.

Our Investment Portfolio


ABV, through its northeastern U.S. flagship brands Southern Tier and Victory, is one of the leading craft brewing operators in the United States. Woodland co-invested in ABV with investment sponsor Ulysses Management.

Artisanal Brewing Ventures



ITS is a leading provider of customized third party logistics services in the western United States. Based in Reno, ITS offers transportation, warehousing and brokerage solutions. Woodland co-invested in ITS with investment sponsor McNally Capital.

ITS Logistics



Pineapple Payments, founded and led by industry veteran Brian Shanahan, is a payment processing company with a focus on leveraging innovative technology to facilitate payment acceptance in SaaS, e-commerce and enterprise channels. Woodland co-invested in Pineapple Payments with investment sponsor Providence Strategic Growth, Brian Shanahan and the Pineapple management team.

Pineapple Payments



Polyconcept is the largest global supplier of promotional products, operating on five continents and selling to customers in over 100 countries. You can read more about Tom and Michael Bernstein’s leadership of Leed’s and now Polyconcept in the Our History section.

Polyconcept (Leed’s)



Worksite Medical is a leading provider of mobile occupational medical services to industrial, corporate and government clients. Woodland partnered with Worksite CEO Anthony Santilli, a familiar and proven operator. Woodland principals serve on Worksite’s board.

Worksite Medical



Bristol ID is a leading manufacturer of plastic cards for the identification and security, hospitality, retail and promotional channels. Woodland principals served on Bristol’s board until the company was sold in November 2015.

Bristol ID Technologies


PBG manufactures and sells exceptional boutique guitars and amplifiers worldwide under the Fano, Tone King and Two-Rock brands. Michael Bernstein is the founder of PBG.

Premier Builders Guild



Rita’s operates nearly 600 franchised frozen dessert stores, specializing in many flavors of made fresh daily Italian ice and custard. Woodland co-invested in Rita’s with CEO Jim Rudolph and McKnight Capital Partners in 2005. Woodland principals served on Rita’s board until the company was sold to Falconhead Capital in 2011.

Rita’s Italian Ice

Our History

Leed’s, now Polyconcept, grew from a start-up importer of small leather goods and business accessories into the largest global supplier of promotional products with more than $700 million in current annual sales. Leed’s history and success is the foundation for Woodland Management.

The seeds for Woodland Management began with Tom and Michael Bernstein, whose entrepreneurial drive, vision and leadership led to the success of Leed’s and now Polyconcept.

Tom Bernstein co-founded Leed’s in 1986 with his partner Bruce Weiner. Initially, Leed’s imported small leather goods and business accessories, which were sold to retailers. Later Leed’s changed its business strategy to become a supplier to the advertising specialties market. In an eight year period, Leed’s became one of the largest and most innovative suppliers in the promotional products industry.

Michael Bernstein joined Leed’s in 1992 during a period of rapid growth. Michael focused on product development and design, and played a key role in helping to accelerate the company’s growth to $75 million in sales at the time of its first sale, to BancBoston Capital, in 2000.

After the sale of Leed’s, Tom Bernstein founded Woodland Management, a family office, with his sons Michael and Todd. Tom and his wife Karen also formed the Marci Lynn Bernstein Fund, a charitable foundation which supports various local charities in Pittsburgh, Sarasota and Israel. Tom serves on several non-profit boards in the United States and abroad.

Michael Bernstein became CEO of Leed’s in 2000. Under Michael’s leadership, Leed’s completed four substantial and strategic acquisitions, merged with Polyconcept, Europe’s largest promotional products supplier, and led the company through a second exit to Investcorp in 2005. Over the last 15 years, Polyconcept grew to more than $700 million in sales across five continents.

How We Work

Founded in 2004, Woodland Management invests in growing companies, typically with $5 million to $75 million in sales. Woodland’s five principals offer a strong collective depth of experience as both operators and investors. Our backgrounds and experience enable us to:

  • Evaluate investment opportunities quickly and decisively
  • Support an operator or investment sponsor before or after
    an acquisition without overplaying our role
  • Add value through constructive engagement with the
    companies and partners with whom we invest

Investment Criteria

Woodland co-invests up to $5 million with talented operators and proven investment sponsors. Preferred industries to invest include:

  • Consumer
  • Food and beverage
  • Business and healthcare services
  • Franchises
  • Distribution and niche manufacturing

We have had success and like to invest in situations in which we partner with investors who provide capital and experience to serve as a catalyst for continued growth of fundamentally good businesses.

Our Principals


STEVE HALPERN - Pittsburgh, PA

Steve leads Woodland’s co-investment activities in sourcing, due diligence and engagement with our portfolio companies. Steve has 17 years of operating experience, and currently serves on the board of WorkSite Medical. Steve received his BS and MBA from the Wharton School of the University of Pennsylvania.



As CEO of Polyconcept, Michael led the company’s transformation from a $75 million sales, US-focused business in 2000 to its position today as a $700 million global promotional products supplier. He received a BA in philosophy from the University of Wisconsin and a JD from the University of Pittsburgh.


TOM BERNSTEIN - Longboat Key, FL

Tom built and sold three very successful companies- All in One Linen Outlet (discount bed and bath retail), Airway Industries (luggage) and Leed’s (promotional products). Tom’s deep business experience and strong people instincts make him a very important contributor to our co-investment efforts as Woodland’s founder and patriarch.



Todd provides valuable sourcing and due diligence support to Woodland’s co-investment activities. Todd offers a different and helpful perspective to us as investors based on his Seattle network and his high level of involvement in Woodland’s early stage investments.


CRAIG BLANK - Pittsburgh, PA

Craig plays a key role in our co-investment due diligence efforts. He contributes a strong combination of restaurant operating experience, public market investing, mutual funds, hedge funds, private equity, venture capital, and real estate. Craig received a BSBA from Washington University in St. Louis and MBA from the Katz School of the University of Pittsburgh.