PORTFOLIO COMPANIES

 
Simkar Corporation

Initial Purchase: 2009

Simkar Corp Initial Investment
Simkar Corporation

Simkar is a manufacturer of linear and compact fluorescent, exit and emergency, HID and vandal resistant lighting fixtures for commercial, industrial and residential applications. Simkar was founded in 1952 and is based in Philadelphia, PA. Simkar’s Kalco Subsidiary is located in Las Vegas, Nevada and Pampanga, Philippines and is focused on high-end, decorative residential markets as well as the contract hospitality and custom designs markets.

  • Investment Theme:

    • Organic Growth through product and market expansion

  • Initial Investment:  October 2009


 
National Molding, Corp.

Initial Purchase: 2008


National Molding, Corp.

National Molding Corporation (NMC) is a global specialty manufacturer of small, intricate injection molded plastic components and fasteners for a diverse range of world class customers. The Company’s proprietary Hetero Cavity® System uses quick change modular, interchangeable tools which allow NMC to manufacture multiple, unrelated products within one production run and continually change and vary the mix based on customer demand. Over the last several years, NMC has emerged as a critical low cost supplier of fastening and bearing components for major automakers such as General Motors and Honda. NMC’s strategy is to grow its proprietary fastener business and pursue global expansion opportunities in China and Europe.

  • Investment Theme:

    • Operational Consolidation

    • Global Expansion

  • Initial Investment:  July 2008

  • Co-Investors:

    • Calvert Street Capital Partners


Wholesale Floors, Inc.
Initial Purchase: 2008

Wholesale Floors (WFI) is the largest provider of design and installation services for commercial flooring projects in the state of Arizona. WFI serves a diverse customer base ranging from hospitals and schools to restaurants and sports stadiums with a focus on the education, healthcare, municipal and corporate sectors. Representative end clients include PetSmart, Houston’s Restaurants, Peter Piper, Monster.com, Avnet, Prudential, Cardinal’s Stadium, Phoenix Convention Center and Mayo Clinic. WFI’s strategy is to leverage its dominant position in the Phoenix market by expanding through add-on acquisitions in the Southwest and West regions.

  • Investment Theme:

    • Consolidation of regional companies

    • Organic Growth through market diversification

  • Initial Investment:  June 2008

  • Co-Investors:

    • SPP Mezzanine Partners II


LTN Staffing, LLC.
Initial Purchase: 2007

LTN is a regional provider of temporary employees for companies requiring light industrial and assembly workers in the Northern Chicago and Milwaukee markets. The Company provides light-industrial staffing for low risk job classifications. LTN’s temporary employees work in a variety of manual and unskilled jobs including: light assembly, wrapping, picking, packaging, customer service, machine operations and inventory control as well as medium and high skilled labor including fork lift operators, quality control supervisors and clerical technicians.

  • Investment Theme:

    • Capitalization for add-on Acquisitions

    • Organic Growth through market diversification

  • Initial Investment:  October 2007

  • Co-Investors:

    • Calvert Street Capital Partners

    • Brookside Pecks Capital Partners


Fitz Vogt & Associates, LTD.
Initial Purchase: 2007

 

Headquartered in Walpole, NH, Fitz, Vogt, & Associates is one of the leading independent providers of customized food management services in the Northeast. The company’s customer base includes assisted living facilities, senior nutrition programs, schools and colleges, summer camps, county health and correctional facilities, and business dining facilities.

  • Investment Theme:

    • Consolidation of regional companies

  • Initial Investment:  May 2007

  • Co-Investors:

    • Parkway Capital Investors LLC.

    • Argosy Investment Partners III LP


Fab-Tech, Inc.
Initial Purchase: 2007

Located just outside of Burlington, VT, Fab-Tech, Inc. is a developer and producer of PermaShield Pipe systems; fully engineered, modular fume exhaust and fluid transfer systems for highly corrosive environments.  The company is the preferred solution provider and the dominant worldwide market leading supplier to the semiconductor industry. 

  • Investment Theme:

    • Proper Capitalization and Financing of Growth and Acquisitions

    • Expansion and Diversification of Customer Base

  • Initial Investment:  January 2007

  • Co-Investors:

    • Midwest Mezzanine Fund IV LP.

    • Parkway Capital Investors LLC.

    • Argosy Investment Partners III LP


Defiance Metal Products
Initial Purchase: 2006

Defiance Metal Products is headquartered in Defiance, OH with two production facilities in Defiance and one each in Heber Springs, AR and Bedford, PA. The company is a leading full-service, precision manufacturer of low- to medium-volume, complex, engineered components and assemblies for the commercial vehicle market. Defiance serves leading original equipment manufacturers in the medium to heavy duty commercial truck, bus, military vehicle and commercial construction equipment markets.

  • Investment Theme:

    • Proper Capitalization and Financing of Growth and Acquisitions

    • Accelerate the Deployment of Lean Systems and Techniques

  • Initial Investment:  September 2006

  • Co-Investors:

    • John Hancock Life Insurance Co.


Boston Ship Repair, Inc.
Initial Purchase: 2006

Boston Ship Repair is a large vessel repair company specializing in repairing military/naval vessels and cruise ships. BSR has one of the largest dry docks with deep draft capabilities in the United States and its graving dock is the deepest in the Northeast. BSR is located in Boston, Massachusetts and primarily serves customers based on the East Coast of the U.S.

  • Investment Theme:

    • Expand targeted market beyond military/naval vessels

    • Expand existing footprint

  • Initial Investment:  September 2006


Gulfstream International Airlines, Inc.
Initial Purchase: 2006

Gulfstream International Airlines (“Gulfstream”) is a commercial air carrier operating 220 flights per day to and from destinations in Florida (11) and the Bahamas (9) with its fleet of 25 Beechcraft 1900D (19 seat) and 7 Embraer EMB-120 Brasilia (30 seat) turbo-prop aircraft. Now flying as Continental Connection in Florida, Gulfstream has become the 16th largest regional air carrier in the US in terms of number of passengers flown. The operation also includes a successful flight training academy, many of whose graduates become Gulfstream pilots.

  • Investment Theme: Expand existing footprint, Proper Capitalization and Fleet Financing

  • Initial Investment:  March 2006


Orchids Paper Products, Inc.
Initial Purchase: 2004

Orchids Paper Products, based near Tulsa, Oklahoma, is a low-cost, value-oriented manufacturer of tissue products, including private labeled bathroom tissues, paper towels and napkins, and has been successful in securing a market niche in serving the “extreme value” retail channel.

  • Investment Theme: Capitalize on low-cost production and the extreme value retail channel

  • Co-Investors: None

  • Add-ons: None


Cattron-Theimeg, Inc. 
Initial Purchase: 2003

Cattron-Theimeg founded in 1946 and headquartered in Sharpsville, Pennsylvania, is the world’s largest provider of industrial portable radio remote controls, with an estimated 100,000 installed systems serving more than 10,000 customers across several industries.

  • Investment Theme: Expand existing technology in new markets

  • Co-Investors and Banks:

    • RFE Investment Partners

    • Argosy Investment Partners

Add-Ons:

In 2004, Cattron-Theimeg purchased Remtron and Beltpack Remote Control Technologies, solidifying its position in the railroad segment of the wireless remote control business. The combined companies will also be able to offer a greater range and depth of products to the industrial segment of the radio remote control industry.


Aladdin Food Management Services, Inc.  
Initial Purchase: 2001

Aladdin Food Management Services, Inc is a leading regional provider of contract food management services with an aggressive business plan for growth in its geographic territory of the eastern United States.

  • Investment Theme: Consolidation of regional companies

  • Co-Investors and Banks:

    • Argosy Investment Partners

    • Parkway Capital Investors

Add-Ons:
 

In January of 2007, Aladdin purchased Ameriserve Food Service Management, a strong regional food service provider for colleges and secondary schools. Headquartered in Columbia, Missouri, Ameriserve’s clients span seven bordering states. Aladdin acquired Ameriserve to gain additional market share in this region of the country and expects to realize significant operational and financial synergies.

In December of 2004, Aladdin purchased Dowling Food Service Management, a strong regional food service provider for colleges, private K-12 schools, healthcare facilities and businesses geographically dispersed in the mid-Atlantic and mid-western regions. By teaming up with Dowling, Aladdin secures a strong franchise in the New Jersey public school market and expects to gain significant operational and financial synergies.

In January of 2004, Aladdin purchased Collegiate Catering, a strong regional food service provider for colleges and business geographically dispersed in the mid-Atlantic and mid-western regions. Aladdin acquired Collegiate Catering to gain significant operational and financial synergies.


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