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NOVEMBER 4-6, 2020 #DEALNATION GROWTH STRATEGIES M&A FINANCE 2020 ACG LA C A P I T A L CONNECTION BOOKLET ® SPONSORED BY:
NOVEMBER 4 -6, 2020
#DEALNATION
GROWTH STRATEGIESM&AFINANCE
2020 ACGLAC A P I T A LCONNECTIONB O O K L E T
®
SPONSORED BY:
2020 ACG LA VIRTUAL CAPITAL CONNECTION
FIRM TYPE STATE
Altus Capital Partners Capital Provider - Equity Group Managing Fund ILArcline Investment Management Capital Provider - Equity Group Managing Fund NYBertram Capital Capital Provider - Equity Group Managing Fund CABranford Castle Partners, LP Capital Provider - Equity Group Managing Fund NYBunker Hill Capital Capital Provider - Equity Group Managing Fund CACenterOak Partners, LLC Capital Provider - Equity Group Managing Fund TXCentury Park Capital Partners Capital Provider - Equity Group Managing Fund CAClearview Capital Capital Provider - Equity Group Managing Fund CACompass Diversified Capital Provider - Equity Group Managing Fund ILCrestmark, a Division of MetaBank Capital Provider - Lender Other CACVF Capital Partners Capital Provider - Mezzanine Lender CACyprium Partners Capital Provider - Equity Group Managing Fund ILDiversis Capital Capital Provider - Equity Group Managing Fund CADominus Capital Capital Provider - Equity Group Managing Fund NYEncore Consumer Capital Other - Not Listed Above CAFalcon Investment Advisors Capital Provider - Mezzanine Lender NYFive Points Capital Capital Provider - Equity Group Managing Fund NCGauge Capital Capital Provider - Equity Group Managing Fund TXGen Cap America Capital Provider - Equity Group Managing Fund TNGreyLion Capital Capital Provider - Equity Group Managing Fund NYGryphon Investors Capital Provider - Equity Group Managing Fund CAHamilton Robinson Capital Partners Capital Provider - Equity Group Managing Fund CTHigh Street Capital Capital Provider - Equity Group Managing Fund ILHighview Capital Capital Provider - Equity Group Managing Fund CAHKW Capital Provider - Equity Group Managing Fund INIGP Equity Capital Provider - Equity Group Managing Fund CAIncline Equity Partners Capital Provider - Equity Group Managing Fund PAIndustrial Growth Partners Capital Provider - Equity Group Managing Fund CAInsight Equity Capital Provider - Equity Group Managing Fund NYLaSalle Capital Capital Provider - Equity Group Managing Fund ILLightBay Capital Capital Provider - Equity Group Managing Fund CANew State Capital Partners Capital Provider - Equity Group Managing Fund NYNexPhase Capital Capital Provider - Equity Group Managing Fund NYNorthlane Capital Partners Capital Provider - Equity Group Managing Fund MDPalladium Equity Partners Capital Provider - Equity Group Managing Fund NYPNC Riverarch Capital Capital Provider - Equity Group Managing Fund PAPrudential Private Capital Capital Provider - Lender Other CARiata Capital Group Capital Provider - Equity Group Managing Fund TXRiordan, Lewis & Haden Private Equity Capital Provider - Equity Group Managing Fund CARiver Associates Investments, LP Capital Provider - Equity Group Managing Fund TNSentinel Capital Partners Capital Provider - Equity Group Managing Fund NYSilver Oak Services Partners Capital Provider - Equity Group Managing Fund ILSole Source Capital Capital Provider - Equity Group Managing Fund CASoundcore Capital Partners Capital Provider - Equity Group Managing Fund NYSt. Cloud Capital Capital Provider - Lender Jr Debt CASterling Investment Partners Capital Provider - Equity Group Managing Fund CTStonehenge Partners Capital Provider - Equity Group Managing Fund OHSun Capital Partners Capital Provider - Equity Group Managing Fund CAThe Halifax Group Capital Provider - Equity Group Managing Fund DCThe Riverside Company Capital Provider - Equity Group Managing Fund NYTrivest Partners, L.P. Capital Provider - Equity Group Managing Fund CATZP Group Capital Provider - Equity Group Managing Fund NY
1
Break-Out First Investing Approach
• $1.5B in committed capital
• Endeavor to create value by identifying and unlocking the break-out potential in our investments
• Empower our CEOs to search for greater value through iterative decision-making
• Investors include leading university endowments, sovereign wealth funds and non-profits
• Primary areas of Interest include Industrial Technology, Specialty Materials, Aerospace & Defense, Personal Care, Medical Products and Life Sciences
Seeking High Quality Businesses
• Market leadership position
• Recurring Revenue
• Attractive margin profile
• Limited cyclicality
Flexible Investment Criteria
• Control and non-control investments
• Between $10M and $100M of EBITDA
• Enterprise Value up to $1B
Business Development Team
Luke Johnson Partner, Head of Business Development [email protected] 646-908-6119
Ben Lyons Partner [email protected] 646-908-6118
Eric Vazquez Principal [email protected] 312-833-1444
Christopher Schatzman Vice President [email protected] 646-908-6116
Abby Coutant Business Development Coordinator [email protected] 646-908-6117
Offices New York299 Park Avenue, 41st FloorNew York, NY 10171
San FranciscoFour Embarcadero Center, Suite 3460San Francisco, CA 94111
150 East 58th Street, 37th Floor, New York, NY 10155 USA www.branfordcastle.com
BRANFORD CASTLE PARTNERS
A LEADER IN LOWER MIDDLE - MARKET
BUY - OUTS SINCE 1986
Founded by John K. Castle, the Chairman & CEO of Castle Harlan, Inc., the multi-billion dollar global LBO firm. Branford Castle is excited to work with management teams but can also acquire companies where management will not be part of the company post-transaction. In two recent portfolio company divestitures, senior management made 30x – 45x overall returns.
John S. Castle Managing Partner Tel: 212 - 317 - 2020 [email protected]
Eric Korsten Senior Managing Director Tel: 212 - 317 - 2219 [email protected]
David Castle Managing Partner Tel: 212 - 317 - 2022 [email protected]
Laurence Lederer Senior Managing Director Tel: 212 - 317 - 2037 [email protected]
We seek the following “platform / stand-alone” investments: • EBITDA up to $15MM • Majority Control (51%+)
Areas of specific interest for new investments include: • Specialty Manufacturing/Industrials • Consumer Goods & Services
• Business Services • Transportation & Infrastructure
We typically avoid investments in High Technology, Biotech, Fashion and Retail.
2010 M&A Deal (between $30-50 million) 2010 M&A Environmental Deal of the Year (>$100 million) 2001-2010 M&A Deal of the Decade (between $30-50 million) 2012 M&A Deal of the Year (between $50-75 million) 2015 Eric Korsten “Top 40 Under 40” recognition 2015 Peter Hilton Founder’s Award – John K. Castle 2018 Intl. Private Equity Deal of the Year ($10-100 million)
M&A Advisor Awards to Branford and Team:
John K. Castle Chairman
David B. Pittaway Vice Chairman
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• Leader in a Niche Industry • North America-based
Ceon Francis Senior Associate Tel: 212 - 317 - 2385 [email protected]
CenterOak Partners is a private equity firm that invests in lower-middle-market companies in the industrial growth, consumer and business service sectors.
Based in Dallas, CenterOak was formed by five partners who have successfully invested together for over 20 years, with a core mission of putting our sector expertise to work for portfolio companies.
Building stronger companies: that’s the core mission at CenterOak. We partner with incumbent management and stakeholders to build better, more valuable businesses through customized initiatives that accelerate organic growth, promote operational enhancements, and advance strategic acquisitions. We are often the first providers of institutional capital for our portfolio companies. We focus on leading middle market businesses that meet our investment criteria, and we have a long and distinguished history in working with closely-held and family-owned businesses.
A Cohesive Team, A Clear Focus
Investment CriteriaINDUSTRY FOCUS
Industrial GrowthConsumerBusiness Services
ENTERPRISE VALUE
$50-250 million
EBITDA
$5-35 million
EQUITY INVESTMENT
$20-100 million
COMPANY ATTRIBUTES
• Strong, experienced management teams• Potential for organic and acquisitive growth• Opportunity for operational improvements• Market leader in its niche• Sustainable competitive advantage
TRANSACTION FOCUS
• Buyouts and recapitalizations• Family-owned and closely held businesses• CEO-backed buy & builds• Non-core carve-outs
100 Crescent CourtSuite 1700Dallas, TX 75201
P 214-301-4201www.centeroakpartners.com
TeamRandall S. FojtasekManaging PartnerChief Executive [email protected]
Lucas T. CutlerManaging [email protected]
Jason D. SutherlandManaging [email protected]
Michael D. SalimPartner, General [email protected]
William M. [email protected]
Eric G. [email protected]
Blake A. [email protected]
Carrie C. HamiltonPrincipal, Business Development & Investor [email protected]
Krysty A. PenwellSenior Associate, Business [email protected]
Mark C. IzlarSenior [email protected]
Brett T. [email protected]
Ross [email protected]
20+YEARS OUR INVESTMENT
PARTNERS HAVE SUCCESSFULLY INVESTED
TOGETHER
$2B+EQUITY CAPITAL COMMITMENTS
MANAGED TO DATE
100+ACQUISITIONS
COMPLETED
$4.7BTRANSACTION VALUE
OF ACQUISITIONS
Preferred transaction size range of $100 million to $800 million; no size
criteria for add-on acquisitions
Positive and stable EBITDA of at least $15 million per annum
Compass Diversified (NYSE: CODI) is a publicly-traded investment and holding company. CODI seeks to generate superior risk adjusted returns for its shareholders through the acquisition of a
diverse set of North American middle market businesses. We own controlling interests in our subsidiary businesses, which maximizes our operating flexibility and drives long-term value creation.
Unlike traditional private equity firms who seek third-party acquisition financing on a transaction-by-transaction basis, our permanent capital structure and access to public markets allows for the efficient consummation of transactions, without any financing contingencies. CODI provides both the debt and equity financing for every transaction, creating a better alignment of interests and is often the buyer of choice due to certainty of financing and speed of closure.
CODI’s ownership perspective as a holding company is not impacted by artificial timing criteria such as fund life. This enables us to invest in people, processes, culture, and growth opportunities that drive long-term transformational change. Upon completion of an acquisition, we immediately begin to work with the acquired company’s management team to identify the most critical and time sensitive needs and opportunities and to address them aggressively. Our subsidiaries have ongoing access to substantial growth capital to make investments in lasting infrastructure, organic growth initiatives and pursue add-on acquisitions.
We will consider acquiring controlling interests in companies with the following characteristics
Overview
Investment Criteria
Leading niche industrial or branded consumer company
headquartered in North America
Highly defensible position in the markets it serves and
with customers
Strong management team, either currently in place or
previously identified
Operating in industry with favorable long-term
macroeconomic trends
Investment Team
ELIAS SABOPartner & [email protected]
PATRICK MACIARIELLOPartner & [email protected]
DAVID SWANSONPartner & Manager of East Coast [email protected]
ZACH [email protected]
RYAN THORPSenior Vice [email protected]
LUCAS SCHOLHAMERVice [email protected]
ALEXANDER MAYES [email protected]
MATTHEW GURKIN [email protected]
NICOLETTE [email protected]
SAMUEL [email protected]
1998 $6.4B+ $1.1B+ $2.5B+ ~$1.0B+
FOUNDED AGGREGATE TRANSACTIONS
REALIZED GAINS SINCE IPO
ASSETS MANAGED
DRY POWDER
IPO in 2006 21 Platforms & 27 Add-Ons
11 Divestitures To Date
10 Current Platforms
Permanent Capital Base
Business Development
KATIE MELZERManaging Director & Head of Business [email protected]
CRESTMARK’S ADVANTAGES
Our sole focus is on providing business-to-business financing. Our many years of solid lending experience can create strategies that best fit each client’s needs.
Whether it’s manufacturing, staffing, transportation, technology, or most types of business-to-business industries, we can help.
Offering competitive pricing and quick turnaround, we can provide necessary capital ... when it’s needed.
ACCESS CAPITAL TO FUND OPPORTUNITIES
• Expansion/Acquisition • Turnarounds
• Restructuring/Refinancing • Recapitalization
• Fund payroll to take on new contracts
ASSET-BASED LINES OF CREDIT
Based on a combination of a company’s accounts receivable and/or inventory.
Access funds without giving up company share.
Less restrictive/expensive than equity financing.
Flexible; can grow and shrink based on business size.
MACHINERY/ EQUIPMENT FINANCING
Fixed asset options to best support your unique situation: Borrowing base certificates, term loans, SBA 7(a) loans, or lease options available.
TH I
N G SA R E
L O O K I N G
A L I T T L E
D I F F E R E N T
T H I S
Y E A R
WE HAVE A CLEAR FOCUS ON FINANCING THAT CAN HELP
Subject to credit approval. Financing provided by Crestmark, a division of MetaBank,® N.A.
Jan Ibey 1301 Dove Street, Suite 1000 | Newport Beach, CA 92660 714.366.4884 [email protected]
Chief Enterprises is a distributor of electricalconnectors, electromechanical components, and customized assemblies for automotive, agriculture, specialty vehicle, powersport, and industrialapplications. Cyprium’s subordinated debt and preferred equity investments were used for growth and to facilitate the management buyout of the Company. Chief operates from locations in Elmhurst,Illinois, and Chihuahua, Mexico.
Subordinated Debt &Preferred EquityElmhurst, IllinoisMILLION
$15.0
Management Buyout
INVESTMENT CRITERIA
RECENT INVESTMENTS
CYPRIUM PARTNERS
cyprium.com
CLEVELAND
200 Public SquareSuite 2020Cleveland, OH 44114
216-453-4500
NEW YORK
461 Fifth Avenue26th FloorNew York, NY 10017
646-571-1620
CHICAGO
77 West Wacker DriveSuite 4500Chicago, IL 60601
312-283-8800
Manufacturing, distribution orservice-oriented companies
Sales between $50 million and$300 million
Minimum EBITDA of $8 million
Investment size of $10 million to$60 million
History of growth and profitableoperations
Cyprium Partners is a private investmentfirm that specializes in making non-controlinvestments in privately held companies.
Cyprium provides non-control mezzanine and equitycapital to profitable middle market companies, allowingcompany owners to retain both economic and operationalcontrol after we invest. We can provide any combination ofsubordinated debt, preferred stock and/or common stock,all out of one fund, to support the growth, acquisition,refinancing or liquidity needs of private company ownersand their management teams.
Unix |WGP is a fast-growing contract beveragemanufacturer and provider of private label better-for-you beverage products including alkaline, sparkling and flavored water, kombucha, mixers, bottled juice and sports beverages. The Company serves leading national retailers and beveragecompanies. The Cyprium team raised a senior debt facility to streamline the Company’s balance sheet and provide capital in support of future growth, andCyprium invested capital to facilitate a minorityrecapitalization and shareholder dividend.
Montebello, California
Subordinated Debt &Preferred Equity
MILLION$33.3
Minority Recapitalization and Shareholder Dividend
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Kustom US provides 24-hour emergency response, full-service property restoration, and turn-keyreconstruction services to commercial and residential customers. The Orlando, Florida based company has locations across nine states and serves property owners, managers, and insurers in response to fire, water, wind, environmental, mold, and structural damages caused by weather, system failure, or other incident. Cyprium’s subordinated debt was used to support the company’s acquisition of Zion Restoration Inc. and provide capital for future acquisitions.
Acquisition Finance
Subordinated DebtOrlando, FloridaMILLION
$12.0
Caro Nut Company, founded in 2008, sources, roasts, mills, and distributes roasted nuts and specialty nut butters to retailers on a private label basis, wholesal-ers, and industrial food manufacturers globally. The company ethically sources a wide variety of nuts from across the world and produces high-quality dry roasted, oil roasted, organic, and pasteurized non-pea-nut culinary nut products. Nut varieties include cashews, almonds, macadamias, pecans, Brazil nuts, pistachios, and hazelnuts. Cyprium’s subordinated debt investment was used to fund Caro’s continued growth by providing working capital flexibility.
Recapitalization and Growth Capital
Subordinated DebtFresno, CaliforniaMILLION
$35.0
Non-Control Capital for the Middle Market
ENCORE CONSUMER CAPITAL is a private equity firm focused on investing in food and consumer products manufacturing, marketing and distribution companies with greater than $10 million in revenue. Encore has raised over $600 million in committed equity capital and is a partnership between experienced principal investors and veteran industry executives. Encore works closely with its operating executives to identify new investment opportunities and drive portfolio company performance.
INVESTMENT CRITERIAFood and consumer products companiesMinimum of $10 million in revenueStrong gross marginsLocated in the United States or CanadaBuyouts and growth equity investmentsNo restaurants, no retailers
REPRESENTATIVE CURRENT INVESTMENTS
REPRESENTATIVE PRIOR INVESTMENTS
ENCORE TEAM
TARGET SECTORS Food and beveragePersonal care & beautyHousehold productsPet productsPrivate label, contract manufacturing and ingredientsFoodservice products Food distribution
Gluten-free foodsancientharvest.com pamelasproducts.com
Premium, chef-driven meat snacks4505meats.com
Leading gluten-free pasta manufacturer
Gourmet poultry basedsausages and meatballsaidells.com
Brownie inspired baked snacksbrowniebrittle.com
Runway inspired beauty productsbutterlondon.com
High performance natural cosmeticstarte.com
Protein based sports nutrition productstheisopurecompany.com
Shelf stable juice concentratesjuicetyme.com
Provider of premium shellfishatlanticaquafarms.ca
Premium all-natural dog and cat treatszukes.com
Robert Brown – Managing Director [email protected]
Kisen Nathu – Director [email protected]
Christian Burton – Associate [email protected]
Scott Sellers – Managing Director [email protected]
Kate Wallman – Director [email protected]
Megan Chen – Associate [email protected]
Steve Mintz – Operating Partner [email protected]
Nichole Ferrara – Vice President [email protected]
Blake Miller – Associate [email protected]
Gary Smith – Operating Partner [email protected]
Paul Rivenburgh – Vice President [email protected]
111 Pine Street Suite 1825 | San Francisco, CA 94111 | 415.296.9850 | encoreconsumercapital.com
Super premium gelato and sorbettociaobellagelato.com
Value-added distributor of frozen foodspintsizehawaii.com
Leading manufacturer of frozen French toast sticksmurrys.com
Leading contract manufacturer of specialty beverageslionbeverage.com
Organic, plant-based superfoodsnavitasorganics.com
Leading hard kombuchakylakombucha.com
Natural skin care productsmychelle.com
Value-added distributor of fresh producefreshkoproduce.com
Premium, specialty cookie manufacturerfantasycookie.com
Craft brewery under Full Sail & Session brandsfullsailbrewing.com
Private label tortillas and taco shells
“Certified Awesome” pork productstenderbelly.com
Specialty distributor of fresh produce tourtellot.com
Innovative, premium suncare productssupergoop.com
Pet anxiety solutionsthunderworks.com
Private label dressings and saucesvanlaw.com
Innovative better- for-you snack foodsthanasifoods.com
Processor of quality frozen berriescalsplendor.com
Maker of organic spiralized vegetablescecesveggieco.com
Better-for-you frozen novelty productsphillyswirl.com
WHY GAUGE?• The Partners at Gauge are experienced
operators with a history of building best-in-class businesses
• Gauge’s GP contribution equates to ~20% of the total capital invested
• We invest in majority, minority or shared control transactions as well as MBOs, buyouts, recapitalizations, and corporate divestitures
WHAT WE INVEST INInvesting out of a $550 million fund, Gauge Capital typically commits $25 million to $100 million in each platform investment. Gauge targets companies with $5 million to $40 million in EBITDA for tech & services businesses or $10 million+ in ARR for SaaS-businesses.
CONTACT
CURRENT (seeking add-on opportunities in all portfolio companies)
Andrew [email protected]
WHO WE ARE
INDUSTRIES OF FOCUS
Technology and Business Services • Commercial Services• Compliance• Digital Media, Forums & Events• Enterprise Risk & Security• Education / Certification / Training
• Financial Tech & Services• Human Capital• Information & Data Services• Marketing Services• Real Estate Tech & Services
Healthcare Services and Technology• Alternative Site• Behavioral• Durable Medical Equipment• Healthcare IT• Home Health & Hospice
• Outsourced Services• Payor Services• Pharma Services• Physician Practice Management• Revenue Cycle Management
Food and Consumer• Beauty Products• Food Production & Processing• Food Safety & Certification• Paper & Packaging
• Pet Food & Health• Private Label & Contract Manufacturing• Restaurant Franchisees• Specialty Distributors
Industrial & Government Services and Transportation & Logistics• Environmental Services• Government Tech & Services
• Industrial Tech & Services • Transportation & Logistics
GAUGE LEADERSHIP & INVESTMENT TEAM
www.gaugecapital.com 1256 Main Street, Suite 256 Southlake, Texas 76092 p. 682.334.5800
GAUGE 2020 THEMESFood Safety• Certification & Traceability• Lab Testing & Services• Protective ProductsHealthcare • HCIT• Home Health• Outsourced ServicesTechnology• Compliance• Information Services• Training & Certification
PP = Area of FocusFood / Consumer Healthcare Business Services /
TechnologyIndustrial /
Government / T&L
Drew Johnson Co-Founder & Managing Partner PP PPTom McKelvey Co-Founder & Managing Partner PPJames Jackson Partner PP PPStan Dennis Managing Director PPDavid Friedman Principal PPAndrew Peix Principal - Business Development PP PP PP PPSam Banon Senior Vice President PPReid Barnett Vice President PP PPTristan Loiselle Vice President PP PP PPKevin Rafferty Vice President PP PP PPSam Smith Vice President PP PP
Business Services Consumer Healthcare Industrial Growth Software• Beauty & Personal Care
• Consumer Health & Wellness
• Food & Beverage
• Behavioral Healthcare
• HCIT
• Payor Services
• Retail-Oriented Medicine
• Specialty Pharmacy
• Food Processing & Agriculture• Industrial Technology• Infrastructure & Utilities
Products• Materials, Chems. & Packaging• Premium Consumable Tools• Transportation & Logistics• Value-Added Distribution
• Enterprise Resource Planning (“ERP”) & Supply Chain Management
• Financial Services Software• Field Service Management• Human Capital Management• System Of Record/Business
Management Software• Workflow/Collaboration
Integrated Deal & Operations Teams Strong Executive ResourcesProvide unparalleled support to
portfolio company management teamsAccomplished Fortune 1000 CEOs and key executives
provide strategic counsel and insight
Deep Sector Knowledge Dedicated industry groups since 2000
G R Y P H O N I N V E S T O R S
PARTNERS IN BUILDING BUSINESSESDDEEEEPP IINNVVEESSTTIINNGG EEXXPPEERRTTIISSEE DDEEDDIICCAATTEEDD OOPPEERRAATTIIOONNSS SSUUPPPPOORRTT
AA PPRRIIVVAATTEE EEQQUUIITTYY PPAARRTTNNEERR WWHHOO UUNNDDEERRSSTTAANNDDSS WWHHAATT IITT TTAAKKEESS TTOO BBUUIILLDD SSUUCCCCEESSSS
Middle-Market Focus
• Over $1 bn of “dry powder” available from Gryphon VI and Gryphon Heritage Partners• Initial equity investments of $50 mm to $500 mm in companies with EBITDA of up to $60 mm• Substantial follow-on equity available for synergistic add-on acquisitions• Consistent recognition on Preqin’s top performers list of over 2,000 private equity firms
G R Y P H O N I N V E S T O R S
• Home Services
• Industrial & Infrastructure Services
• Information & Internet Services
• Next Generation IT Services
• Professional Services
• Tech-Enabled Services
150 North Wacker Drive, Suite 2420, Chicago, IL 60606 | Ph 312-423-2650 | Fax 312-267-2861www.HighStreetCapital.com
Investment Criteria Industry Focus Transaction Types
Revenues: Up to $100mm
Cash Flow: Up to $10mm
Geography: U.S. with primary focus East of the Rockies
Outsourced Business Services
Value-added Distribution & Logistics
Niche Manufacturing
Control and Non-Control Acquisitions
MBOs/Recapitalizations
Growth Equity
Founded in1997
Equity, Experience and Ideas for Middle Market Businesses
We are business builders. improving them. We back this strategy with our own personal capital and capital from our fully-committed $165 million Fund V.
Our approach starts with recognizing opportunities to improve selected businesses within our market. It includes a
Flexibility:and senior managers to customize a transaction.
Experience: With over 100 years of combined experience addressing the challenges unique to middle market companies as C-level managers, trusted advisors and patient investors, High Street Capital’s team is able to provide creative solutions andintelligent, strategic counsel to its business partners.
Partnership: Our job is making our portfolio company management teams successful. In so doing, we will serve our investors well. We create alignment through equity participation for all key members of the management team.
Investing & Finance Team
D. Blake Bartolomei
Charles W. Bossart
Christopher E. Brewster [email protected]
Derek C. Gollnitz
Joseph R. Katcha
Operating Team
Kent C. Haeger [email protected]• Business Services, Manufacturing, Distribution, Financial Services• Expertise: Strategy, Sales & Marketing, Supply Chain
Timothy J. Kurth [email protected]• Business Services, Education Services, Healthcare Services• Expertise: Digital Engagement/Marketing, Product Management,
eCommerce
Richard D. McClain [email protected]• Transportation, Healthcare Services, Aerospace, Energy•
Operations
Highview Capital is an opportunistic private equity fund based in Los Angeles that
takes a transformational approach to creating stable, long-term value
FLEXIBLE
Tailored approach to customize investment structures and terms to address unique
deal considerations
Investment Philosophy
PATIENT
Single LP, evergreen fund structure allows for long-term investment approach without
specified exit obligations
OPERATIONALLY FOCUSED
Drive transformation through operational
optimization initiatives and focus on strategy
SPEED AND CERTAINTY
Ability to navigate difficult and time-sensitive transactions
and execute with a rapid and transparent closing process, often with no
financing contingencies
CORPORATE CARVEOUTS
Acquisitions of non-core operations or product/service
lines where we leverage prior experience and our
single capital source to affect carveouts from larger corporate parents on an expedited basis
SPECIAL S ITUATIONS
Investments in companies with a fundamental reason for
being that need assistance through challenging situations including companies requiring a turnaround plan / financial
restructuring, addressing liquidity challenges, or
managing through one-time events (management missteps, poor M&A, lost customers, etc.)
MIDDLE MARKET BUYOUTS
Control acquisitions of healthy businesses where we are
able to acquire businesses at reasonable valuations and can realize value creation through improved strategic planning,
operational optimization initiatives, or can benefit from additional capital to
support organic & inorganic growth strategies
Investment Strategy
FAMILY FOUNDER/ CAPITAL SOLUTIONS
Investments in healthy businesses where we
actively partner with family or founder owners to execute performance improvement
measures to increase enterprise value
We are CONSTRUCTIVE, COLLABORATIVE and LONG-TERM
partners to companies poised to undergo a TRANSFORMATION
TYPICAL INVESTMENT CRITERIA
EQUITY CAPITAL PER DEAL $10 – $125 million ($25 - $75mm sweet spot)
REVENUE $50 – $500 million
EBITDA $5 – $50 million
ENTERPRISE VALUE $50 – $350 million
GEOGRAPHIC FOCUS Global mandate
Evergreen fund backed by
SINGLE CAPITAL SOURCE;
allows flexibility in investments
and operational support
Million$500
101 Mission Street, Suite 1500 San Francisco, CA 94105 415-882-4550 igpequity.com
Strategic Capital for Manufacturing®
IGP was founded with a single vision: to invest in and build global, market-leading industrial businesses. We specialize exclusively in the industrial sector with a particular focus on engineered products businesses and niche industrial services companies.
Investment CharacteristicsRevenue: Up to $250 million
EBITDA: Up to $40 million
Platforms headquartered in the U.S. or Canada (no geographic limits on add-ons)
Manufacturing and industrial services businesses
Prefer “intermediate” products sold in business-to-business setting
Strong market positions
Transaction types: entrepreneur/family-owned recapitalization, corporate divestiture, private equity-owned company
Preferred Industry SectorsAerospace and Defense ComponentsAnalytical Instruments and Measuring DevicesCritical Industrial ServicesElectrical and Electronic EquipmentEnergy Equipment and ServicesFluid Control, Filtration and PumpsHealthcare and Safety EquipmentIndustrial Components and EquipmentPlastics and Synthetic MaterialsProcess Instrumentation and ControlsSpecialty Chemicals, Adhesives and CoatingsTesting and Inspection Services
Who we areIGP has over two decades of experience as a specialist in the industrial sector. We have raised more than $2.2 billion in equity capital across five funds and have successfully invested alongside management in over thirty platform transactions. We are backed by a blue-chip list of Limited Partner investors, including highly-regarded endowments, foundations and the pension funds of several Fortune 500 industrial companies.
How we workWe work with each of our teams in customized ways to help them unlock the unique potential of their businesses. Our role is highly collaborative and strategic in nature —facilitating management’s efforts to build value in a business. We work with managers to pursue key initiatives that we believe are in the best interests of long-term company success.
Our TeamEric HeglieJeff WebbDan DelaneyDave DiFranco Rob Austin Ron AulettaDave PaborskyMatt BrennanMatt Antaya
Micah Wickersheim John Malloy John ParentPaul CampbellSam Adler Jacobey JohnsonDylan Petre Tyler ReineckeAlex Rento
Advisors & FoundersMike BeaumontGottfried TittigerPat ForsterDavid Huberfield
20+years
LaSalle Capital is a leading lower middle market private equity firm with deep domain expertise and a proven track record of successful investments in the food and beverage ecosystem. We utilize a strategic and hands-on investment approach that respects the knowledge and experience of those who built and operate the businesses with which we invest and leverages our deep industry expertise to support future growth and margin enhancement. With over 60 years of combined experience, we understand the unique needs of entrepreneur and family-owned businesses and how best to structure transactions that work for all parties. We strive to partner with exceptional management teams who have a passion for their business and seek additional capital and expertise to fully realize their business goals and drive shareholder value.
Food and Beverage Expertise
Value Creation Levers
Channel Focus
LaSalle Capital | 70 West Madison Street, Suite 5710, Chicago, Illinois 60602 | Office 312 236 7041 | lasallecapital.com
Food and Beverage Ecosystem Attributes
Investment Criteria
• Premium private label retail• Foodservice• Unique branded retail• Industrial / contract
manufacturering• Ingredients• Direct-to-consumer• Supply chain services
• Ability to expand products, channels and margins• Solutions-based selling and sticky partnerships• Focus on R&D, innovation and continuously evolving
trends• Large universe of strategic and financial buyers with
idle cash• Recession resistant• Large barriers to entry (equipment, food safety,
technical know-how)• Multiple arbitrage (earnings growth, diversification,
synergies)• Ability to hedge and pass along price volatility
• Develope and execute value creation plans• Create and implement go-to-market and channel
expansion startegies• Enhance margins through productivity and
efficiency investments• Address operational issues• Evaluate pricing and product portfolios• Facilitate new product development and ideation• Professionalize and build out teams• Finance continued organic growth• Identify and negotiate add-on acquisitions
• Strong, defensible market position• Significant potential for long-term
growth• Diversified customer base• Stable and predictable cash flow• Talented management team
with a personal investment in the business
• Revenue between $20 and $100 million• EBITDA between $3 and $15 million
Food and Beverage Platform Acquisitions• Authentic, natural product
orientation • Unique production capabilities /
operational excellence• Clean ingredient decks• Better-for-you or indulgent
products• Farm-to-table• Unique certifications (e.g., gluten-
free, Kosher, SQF)
David Murav
312.283.2903
Kelly CornelisPartner & COO
Contact Information
Invested In What Matters
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RIATA CAPITAL GROUP is a leading private equity firm that partners with seasoned management teams to invest
in growing, profitable, privately-held companies across North America with a focus on three core industry sectors—
business services, consumer, and healthcare services. We take a selective approach to investing in high-potential
businesses whose owners and management teams want an investment partner with the capital, experience, and record
of successful collaboration required to achieve their liquidity and value-creation objectives. We provide entrepreneurs
and management teams the support they need to build exceptional middle market companies.
The principals of Riata have been investing in privately-held companies—many of which are family-owned or
entrepreneur founded—since 1991. We have sponsored more than 175 acquisitions, totaling in excess of $4.5 billion
of transaction value and $1.5 billion of invested capital. We supplement our considerable investment experience,
extensive network of relationships, and core industry knowledge with the involvement of seasoned Operating Partners
who have built and run successful businesses in our core sectors. These Operating Partners can serve as value-added
and strategic resources to help management teams maximize the potential of their businesses.
INVESTMENT PROFILE
STRUCTURE
• Control and non-control investments
• Recapitalizations, buyouts, growth capital, divisional carve-outs, and CEO-led buy & builds
• Flexible capital structures
SIZE
• Equity investments of $25 – $100 million
• EBITDA of $5 – $30 million
• Total enterprise value of $25 – $250 million
STAGE
• Mature and market-leading
• High-growth and category-defining
• Established and developing management organizations
SECTOR
• Business Services
• Consumer
• Healthcare Services
VALUE PROPOSITION
Partnering with Riata provides access to a high-energy and seasoned investment team, complemented by a bench of
highly experienced and successful Operating Partners who are trusted advisors to management teams.
• Differentiated investment experience
• Substantial knowledge and experience in our core sectors
• Success with organic and acquisition-driven growth initiatives.
• Seasoned Operating Partners
• Strong strategic and organizational development capabilities
• Extensive network of relationships
• Enhanced access to capital markets
• Experience positioning companies for successful liquidity events
INVESTMENT TEAM
Jeff Fronterhouse Managing Partner [email protected]
Barron Fletcher Managing Partner [email protected]
Glenn Askew Partner [email protected]
Jay Bradford Partner [email protected]
David Parker Vice President [email protected]
Mitchell Wyly Vice President [email protected]
Nick DePinto Senior Associate [email protected]
Maria Hak Director of Business Development [email protected]
OPERATING PARTNERS
Business Services Steve Birdwell Brad Goebel
Consumer Jerry Meyer Alan Shor
Healthcare Services John Carlyle
Information Technology Satish Dave
Marketing Lora DeVuono
Supply Chain & Logistics Steve White RIata Capital Group
3889 Maple AvenueParkland Hall, Suite 220Dallas, Texas 75219214.740.3600www.riatacapital.com
INDUSTRIESManufacturing,
Distribution,Industrial Services, Business Services
$3 - $15 MILLIONEBITDA for
platform companies, smaller add-on
acquisitions
PREFERENCE FORManagement led buyout, corporate divestiture or
family succession transaction
GEOGRAPHIC FOCUSHistorical investments
throughout the United States and Canada
INVESTMENT CRITERIA
INVESTMENT HISTORY95+ investments and 75+ realizations over the past 30 years
FOCUSEach investment is important, a limited number are undertaken annually EXPERIENCELong-tenured partners & deep industry knowledge in a variety of sectors
WHO WE AREREPUTATIONOver a quarter century building references
ENGAGEMENTSenior level attention given to all aspects of our business
ACCESS TO CAPITALCurrently investing River VII, LP with $285 million in committed capital
River Associates is a time tested private equity partner for management teams of lower middle-market companies in the United States and Canada.
OUR PHILOSOPHYFounded in 1989, River Associates has built a reputation for integrity and acumen with all our constituencies: limited partners, investment referral sources, senior & mezzanine debt partners and portfolio company management teams. Our “Investments with Management” philosophy effectively captures the spirit of partnership which guides our actions in all aspects of business.
CONTACT:Mark Jones
Partner
www.riverassociates.com
633 Chestnut Street Suite 1640
Chattanooga, TN 37450
PAGEWWW.RIVERSIDECOMPANY.COM PARTNERSHIP . GROWTH . INTEGRITY 1
Riverside Strategies & Global Footprint
Private Equity
Riverside Capital Appreciation Fund (RCAF)• Founded in 1988• Control buyouts of North American-based platform
companies with $10 million to $35 million in LTM EBITDA
Riverside Europe Fund (REF)• Founded in 1997• Control buyouts of European companies with less than
€30 million in LTM EBITDA
Riverside Micro-Cap Fund (RMCF)• Founded in 2005 • Control buyouts of North American-based companies
with up to $10 million in LTM EBITDA
Riverside Australia Fund (RAF)• Founded in 2007• Control buyouts of Australia and New Zealand-based
companies with A$3 million to A$20 million in LTM EBITDA
Riverside Technology Capital Fund (RTCS)• Founded in 2018• Investing exclusively in technology companies with a
focus on unique growth stage opportunities
Riverside Value Fund (RVF)• Founded in 2019 • Makes majority investments in middle market
companies with operational challenges or balance sheet complexities
Structured Capital
Riverside Strategic Capital Fund (RSCF)• Founded in 2013 • Non-control, junior investments in companies with
$5 million or greater of LTM EBITDA
Riverside Acceleration Capital (RAC)• Founded in 2015• Senior secured loans in enterprise software
companies with $3 million to $15 million in LTM Revenue
Private Credit
Riverside Credit Solutions (RCS)• Founded in 2016• Senior secured loans in primarily
sponsor-backed companies with $5 million to $35 million in LTM EBITDA
BostonCleveland
DallasLos Angeles
New YorkSan Francisco
BrusselsLondon
LuxembourgMadridMunich
StockholmHong KongMelbourneSingapore
Riverside has Offices on Four Continents
Private Equity for Lower Midmarket Buyouts
Who We Are
What We Do
Target Niche Market Leaders in Eight Sectors
Company SizeEquity InvestmentUp to $175 million of equity per transaction Up to $65 million of EBITDA
Transaction Flexibility• Management Buyouts• Corporate Divestitures• Purchase of Family Businesses• Balance Sheet Restructurings • Special Situations• Going Private
Sentinel Capital Partners │ 330 Madison Avenue, 27th Floor, New York, NY 10017 │ (212) 688-3100 │ www.sentinelpartners.com
In considering an investment opportunity, the most important criteria for us are:• A strong and committed management team with a clear vision and long-term outlook• Market leadership in product line, distribution channel, cost position, and/or technology• Diversified customer base and/or product portfolio• Opportunity to grow organically and/or via acquisition• Meaningful management ownership following closing• Strong, recognizable brands in niche markets• Control investments only
Investment Criteria
Contact Us
Established Record of Responsible Stewardship• Friendly partnership equity• Specialized industry knowledge and expertise• Transaction flexibility• Speed and certainty in executing transactions • Network of valuable resources• Partner with sellers and management to forge creative
solutions to complex situations• Do what we say• Fully integrated, deep investment team
Essential Facts• Founded in 1995• Headquartered in New York City• More than 25 investment professionals with over 250
years of private equity experience• Closed more than 70 platform investments and more
than 250 add-ons• $4.7 billion of equity capital and $460 million of junior
capital raised since inception• $1.9 billion currently available for investment
• Food / Restaurants• Franchising• Healthcare• Industrials
Joe CatalanoManaging Director
Business [email protected]
212-688-3100
Why Sentinel?
• Aerospace / Defense• Business Services• Consumer• Distribution
Garrett SchiresPrincipal
Business [email protected]
212-688-3100
Tyler LowensteinVice President
Business [email protected]
212-688-3100
Sole Source Capital (“SSC” or “the Firm”) is a lower-middle market investment firm specializing in corporate
carve-outs, management buy-outs, and private, founder-owned companies across North America. The Firm is led
by David Fredston and consists of a team of professionals who joined from firms such as The Gores Group,
Clearlake Capital, SAC Capital, Platinum Equity, and Danaher. SSC is an operationally-focused firm that targets
high-growth industrial assets with defensible market positions and quantifiable sector tailwinds.
1299 Ocean Avenue | Suite 460Santa Monica, CA 90401
P: 310.929.2450www.solesourcecapital.com
Founded in 2016 by David Fredston, formerly with The Gores Group
The SSC leadership team aggregates over 100 years of private equity investment, operational, and corporate leadership experience
SSC has approximately $450 million of assets under management
SSC has committed pools of capital and is investing out of Fund I ($160 million) and Fund II ($400 million)*
*Target fundraise size of Fund II
FIRM HISTORYNon-cyclical companies with secular tailwinds
PRIORITY SECTORS
Dedicated in-house resources to provide guidance to executives and drive significant operational improvement
The SSC WaySM integrates operational engagement with M&A resources at the onset of the investment
SSC OPERATIONS TEAM
IN-HOUSE OPERATIONS FOUNDER-FRIENDLY
SERVICES
Facility MaintenancePest ControlFire & Safety
DISTRIBUTION
Food & FoodserviceSpecialty Agrochemical
MANUFACTURING
Flexible PackagingIndustrial & Health Filtration
Food
Dewey TurnerPartner
Formerly with Clearlake Capital
Todd FergusonManaging Director
Formerly with Rentokil
Ivan GataricVice President
Formerly with Danaher
KEY PARAMETERS:Revenue: $50M+
EBITDA: <$20M
Equity Check Size: $25M - $125M
Transaction Types: Founder-owned or Corporate Carve-out
Minimal customer concentration
Defensive end-markets
SSC is named on Inc.’s Inaugural List of Top 50 Founder-Friendly PE Firms
Recognizing SSC for its track record of successfully backing business owners
SSC Founder-Led Investments: Premiere Flow Control | IFS & Trade Supplies | Worldwide Produce
Jennifer de Leon Principal
Formerly with OpenGateCapital
Stonehenge Partners is an Ohio based private equity fund that focuses exclusively on lower middle market companies. We have raised more than $1 billion and are currently inves�ng out of our ��h ins�tu�onal fund. We have a long history of partnering with entrepreneurs and management teams who are focused on improving their companies and building equity value. We provide flexible capital that meets the needs of all stakeholders including majority equity, minority equity, debt, and combina�ons thereof.
Overview
Investment Structures Target investment range of $5 million to $50 million Flexibility to invest equity, debt or any combina�on Control or minority equity investments Sole ins�tu�onal capital provider or co‐investment partner
Industry Preferences Manufacturing �istribu�on Healthcare Business Services Avoid real estate, retail, and technology
Situa�ons Management buyouts Leveraged acquisi�ons �ecapitali�a�ons Growth equity
Characteris�cs of Investment Candidates Proven management teams with properly aligned incen�ves Stable opera�ng history with cash flow in excess of $2 million Strong � defensible posi�on in a de�ned market or niche Compelling industry fundamentals
Current Fund Stonehenge Opportunity Fund IV, LP ‐ $280 million private
equity fund
Senior Investment Team
Andrew Bohu�ns�y, Managing Partner (614) 246‐2434 a�ohu�[email protected]
Peter Davies, Managing Partner (614) 246‐2406 [email protected]
Robert Eversole, Managing Partner (614) 246‐2654 [email protected]
Thomas Utgard, Managing Partner (614) 246‐2436 [email protected]
Michael Arguelles, Managing Director (614) 246‐2490 [email protected]
Keith Bishop, Managing Director (614) 246‐2542 [email protected]
Sean Dunn, Director (614) 246‐2416 [email protected]
Nathan McGill, Director (614) 246‐2656 [email protected]
1�1 �. Na�onwide Blvd., Suite 600 Columbus, O� 4�215 (614) 246‐2500 www.stonehengepartners.com
www.sheppardmullin.com
Representative 2020 Mergers and Acquisitions
Majesco (NASDAQ: MJCO)
$730 million acquisition by Thoma Bravo
Rakuten sale of the
equity securities of OverDrive Holdings, Inc.
AMN Healthcare $475 million acquisition
of Stratus Video
CACI Products Company
equity purchase of Ascent Vision
Technologies, LLC
Arlington Capital Partners acquisition of J&J Maintenance, Inc.
Universal Care sale to
Bright Health
New Wellness Buyer, Inc.
acquisition of Jarrow Formulas and
Jarrow Industries
K2 Software, Inc. acquisition by
Nintex USA, Inc.
ICM Partners acquisition of
Stellar Group and launch of ICM Stellar
Sports Division
Oberman, Tivoli & Pickert Inc.
dba Media Services sale to
Cast & Crew
American Paper & Plastics and
Carryout Bags sale to
Imperial Bag
Majority shareholders of NeuroBo
Pharmaceuticals, Inc. (Nasdaq: NRBO) reverse merger and
Nasdaq listing
Pacific Piston Ring, Co., Inc.
sale to Loar Group, Inc.
Electronic Transaction Consultants Corp.
sale to Align Capital Partners
Acquisition of FTR Group Pty Ltd
by Bison Capital Partners
Circuit Services, LLC (d/b/a Career Technologies)
sale to Fralock Buyer LLC
TP ICAP acquisition of
Louis Capital Markets and MidCap Partners
Molina Healthcare, Inc. acquisition of certain assets of YourCare
Health Plan, Inc.
Bond Manufacturing Co. Inc.
sale of certain product lines to Orbit Irrigation, a portfolio company of
Platinum Equity
Histogen Inc. merger with Conatus Pharmaceuticals Inc.
Quartz Holdings, LLC acquisition by Clarion Events Group US Inc.
Tiny Horse, LLC acquisition by
Whistle Sports, Inc.
Fishawack acquisition of
Skysis
ICM Partners acquisition of Primary Talent International
OncoCyte acquisition of
Insight Genetics
Greg Lansky sale of membership interests in General Media Systems, LLC
to Laietana Holdings, LLC
AEgis Technologies acquisition of Excivity, Inc.
Allied Universal acquisition of
Phoenix Systems & Service, Inc.
Majesco acquisition of
Inspro Technologies Corporation
Broder Bros., Co. acquisition of
Golden State T’s, LLC
Behavior and Development Center, LLC
sale to Center for Social Dynamics, LLC
Astra Capital Management
acquisition of the assets of Metro Data Center LLC
Ardian acquisition of Acousti Engineering of Florida
Avant Diagnostics asset sale to OncBioMune
Pharmaceuticals (OTC: OBMP)
Allied Universal acquisition of
Service Works, Inc.
Astra Capital Management acquisition of
ClearSky Technologies, Inc.
Wpromote, LLC acquisition of
Metric Digital LLC
Astra Capital Management
equity investment in DartPoints Holdings
American Vision Partners Corporation
acquisition of Stuart Adams, O.D. PC
Utegration, LLC acquisition of HPC Heck
& Partner Consulting, LLC (d/b/a HPC America)
Advantage Wound Care acquisition of Orange County Wound and
Hyperbaric
AEgis Technologies acquisition of E Mergent RC
Diestel Turkey Ranch acquisition of the
Willie Bird Turkeys brand
Goldwind International Penonome, S.A.R.L
sale of a 55 MW operating wind facility
in Panama
OCGP LLC buyout of its original investors, L&L CM
Capital LLC
Lakin Tire West, LLC and LLaakkiinn TTiirree EEaasstt IInncc.. sale to an affiliate of The
Carlyle Group
Unix Packaging and Western Group
Packaging leveraged recapitalization
iinside merger with
CrowdVision Ltd.
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