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Selected
Transaction Activity
 Recapitalization
in 1997
Action Floor Systems, LLC is a leading producer of hardwood sports
flooring systems and residential maple floor products. The recapitalization provided
partial shareholder equity to existing management. In April 2000, Action consummated
the acquisitions of a distributor of hardwood floors and a subfloor systems supplier.
For more information visit Action's web site
Leveraged Buyout in 1998
Art Etc., Inc. is a screen process
printer providing creative arts, design, graphics printing production, and fulfillment
services for advertising and promotional projects. The company's products include
point-of-sale kits, outdoor banners, billboard posters, transit advertising materials, and
printed wearables. Art Etc. was purchased from its private owner.
 Management Buyout in 1995 -
Sold in 1999
Conxall Corporation manufactures custom, plastic, cylindrical,
corrosion-resistant, weathertight connectors and cable assemblies serving a wide variety
of demanding and growing applications and markets. The company was purchased with
management from its founder. Ultimately, ownership was acquired by an outside buyer.
For more information visit Conxall's web site
 Recapitalization in 1997
Dart Distributing, LLC is a full-service, value-added rack job
distributor of CDs, cassettes, movies and computer software. The recapitalization,
in partnership with existing management owners, allowed the company to continue its
internal growth and pursue add-on acquisitions.
For more information visit Dart's web site
 Management Buyout in 1993 -
Sold in 1999
The Empire Company, Incorporated is one of the largest distributors of
unfinished wood mouldings and specialty millwork products in the United States. The
company was acquired from Westinghouse Credit Corporation with management's
participation. In January 1996, Empire acquired Virginia Moulding & Millwork
Co., a Southeastern distributor of similar products. Equity ownership was
subsequently redeemed by management.
 Management Buyout in 1992
- Sold in 2000
Galbreath Incorporated is a leading U.S. manufacturer of waste handling,
hauling and compaction equipment. The company was acquired with management from
Sudbury, Inc. In 1996, Galbreath acquired Piqua Waste Equipment, Inc., a
manufacturer of commercial balers and compactors. Galbreath was acquired
by an industry competitor.
For more information visit Galbreath's web site
 Recapitalization in 1992 -
Sold in 1996
Imperial Acquisition Corporation owns and operates a chain of athletic
footwear and apparel stores in Michigan, Illinois, Indiana, and Ohio. The investment
allowed Imperial to recapitalize and buy out its largest non-management shareholder.
Equity ownership was later redeemed by the company.
 Recapitalization in 1998
Netcom, Inc. is a manufacturer of crystal and other types of filters,
power supplies and integrated network devices for the telecommunications, medical
instrumentation and avionics industries. The recapitalization provided partial
liquidity to the management shareholders and a strong capital base to support future
growth.
For more information visit Netcom's web site
 Leveraged Buyout in 1991 -
Sold in 1996
NOA Company, Incorporated, which operates over 6,000 posters and
bulletins, serves the outdoor advertising markets in Minneapolis, Memphis, Jacksonville
and Youngstown. The company was acquired from Morris Communications, Inc. together
with management and other institutional investors. NOA was sold to a strategic
buyer.
 Leveraged Buyout in 1998
Noah's Collectors Gallery is a retail chain
specializing in the sale of collectibles. The company is located in malls throughout
the northeast and expects to expand its retail presence nationally. Noah's was
acquired in partnership with a retail industry executive.
For more information visit Noah's web site
 Management Buyout in 1996
Nordco Incorporated is a leading manufacturer of equipment for the
installation, maintenance and repair of railroad tracks. The company was purchased
in concert with management from Oak Industries, Inc. In August 1999, Nordco acquired
Pyke Manufacturing Ltd. and the Brush Cutting Division of Emery Manufacturing &
Equipment Inc., both manufacturers of railroad maintenance-of-way equipment.
Nordco was sold to a financial buyer.
For more information visit Nordco's web site
 Leveraged Buyout in 1993
Ramco Industries, Incorporated manufactures and imports lighting,
switching and other accessories for the recreational vehicle, marine, heavy truck and van
conversion markets. The Company was purchased in participation with management and
an outside executive from its founder. In 1994, Ramco acquired from a competitor a
complementary line of lighting products serving the van conversion market.
For more information visit Ramco's web site
 Management Buyout in 2000
Schaefer Equipment, Inc. is the leading producer of forged brake
components for the North American railroad industry. The company specializes in the
manufacture of components for freight car foundation brake rigging. Schaefer was
purchased jointly with management from its Employee Stock Ownership Plan
("ESOP"), which had been in place since 1980.
 Recapitalization in 1998
SPARAK Financial Systems, LLC is a leading provider of integrated
computer systems for community banks. SPARAK also provides ongoing maintenance and
support services as well as the computer equipment on which its systems operate. The recap
allowed the founding owners to realize a portion of their value in the company, while
bringing aboard a deep-pocketed partner to support growth and assist with strategic
development. SPARAK was sold to a strategic buyer.
For more information visit SPARAK's web site
 Leveraged Buyout in 1998
Syron Engineering & Manufacturing, LLC engineers and manufactures
proprietary material handling and sensing devices used primarily within the sheet metal
operations of automotive OEMs and suppliers. We teamed with two industry executives
to acquire Syron from its founder. In February 2000, Syron acquired Erie Engineering
Company, a leading designer of sheet metal stamping dies and Erie Automation Company, a
leading producer of cross bar transfer press automation.
For more information visit Syron's web site
 Consolidation Buyout in 1994
Tenere Incorporated was organized with two experienced executives to
build a national supplier of metal and plastic components to the computer, electronic,
medical and business machine industries. Since its inception, Tenere has acquired
five companies and currently has operations in Minnesota, Wisconsin, Colorado and Texas.
 Management Buyout in 1988 -
Sold in 1996
Trade Press Publishing Corporation publishes trade magazines. The
original transaction involved the acquisition of Building Decisions and Sanitary
Maintenance. Trade Press successfully started Maintenance Solutions in 1993 and
purchased Progressive Railroading in 1994. The equity was later redeemed by
management.
For more information visit
Trade
Press' web site
 Leveraged Buyout in 1998
Waupaca Northwoods, LLC operates two divisions. The Waupaca Materials
division supplies potting soils, bark, stone, peat moss and other products to the lawn and
garden industry. Its Greensmix division provides custom soil blending to golf course
developers. Waupaca Northwoods, which was acquired from a family owner, will expand
nationally through acquisitions and investment. Its first acquisition, the Nursery
Products Division of Pace International, was made in October 1998 followed by its second
acquisition in February 1999 of the Landscape Division of Interlochen Corporation.
For more information visit Waupaca's web site
 Leveraged Buyout in 1993 -
Sold in 1999
Wisconsin Film & Bag, Incorporated is a custom, in-line extruder of
polyethylene film and bags, serving the food, manufacturing and retail industries.
The company was acquired jointly with an industry executive and management from its
private owners. In 1998, Wisconsin Film acquired Rickert Manufacturing, a
manufacturer and convertor of printed plastic film and bags.
For
more
information
visit
Wisconsin
Film's
web
site
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