Former Portfolio Companies
3-D GEOPHYSICAL, INC.
Oil Services3-D Geophysical, Inc. was one of the leading providers of land-based and shallow water three-dimensional ("3-D") and two-dimensional ("2-D") seismic data acquisition services to the oil and gas industry in the western Hemisphere. The Company had over 15 crews operating land-based and shallow water seismic data acquisition systems in Alaska, Canada, the Rocky Mountain, West Coast and Appalachian regions and Mexico. Prior to a significant decline in oil and gas exploration expenditures, 3-D Geophysical, Inc. was sold to Western Atlas, Inc., the world's largest seismic services company, which was subsequently sold to Baker Hughes.
AMERICAN LIFECARE, INC.
Physician Practice ManagementAmerican Lifecare was created to provide independent neurological practices in the Northeast and was the corporate vehicle to consolidate their practices and provide a broad spectrum of neurological treatment in well staffed and comprehensive diagnostic facilities. The Company's initial focus was to develop a pain center analysis and treatment model in the eastern United States. Investors funded the corporate development program.
BEVERLY GLEN MEDICAL SYSTEMS LLC
Healthcare ServicesBeverly Glen is a Los Angeles-based provider of specialized electro-cardiograph-monitoring services to cardiologist, hospitals, sleep centers and private patients. Over a three year period, the Company developed unique software to measure heart rate variability and has applied its unique analysis service to assist international pharmaceutical companies in Phase I and Phase II testing of drugs under development.
BUTTONWOOD SECURITIES, INC.
Financial ServicesButtonwood Securities, Inc. emphasized the personal service aspect of investment primarily to high net worth individual investors seeking portfolio management disciplines and mutual fund selection. The Company merged with a publicly traded company.
ERC INDUSTRIES, INC.
Oil ServicesERC was the successor company to Kenai Company, after its reorganization. ERC, a $20 million oil field equipment service company with seventeen (17) branches throughout the active oilfields of the U.S., was headquartered in Houston and engaged in the remanufacturing of wellhead equipment. The Company remanufactured oilfield wellhead equipment to rigorous standards, tested and installed the units in the oil field. The Company was sold to a European oilfield equipment and service company.
FIRST HOME BROKERAGE LLC
Real Estate ServicesFirst Home Brokerage was a "one-stop-shopping" real estate firm that acquired, renovated, marketed, and sold one-to-four family homes in the New York metropolitan area. Since inception in 1994, the Company renovated and sold more than 2,800 homes with aggregate sales value of approximately $450 million.
FLUID COMPONENTS, INC.
DistributionFluid Components' was headquartered in Tulsa, Oklahoma with branches in Oklahoma City, and Wichita, Kansas and distributed and serviced hydraulic and pneumatic equipment under exclusive licensing agreements with major brand name manufacturers including Sundstrand, Racine and TRW. The Company implemented a strategy of expansion by adding branches in Little Rock and Memphis, increasing the product line and professionalizing the reporting and internal control systems. The Company generated revenues of $20 million. The Company was sold to a competitor.
Information ServicesForeAmerica, Inc. is a leading technology solutions provider for the golf industry and the largest "real time" tee time reservation network in the United States. The Company maintained one of the busiest and most extensive online tee time reservation systems in the country for golfers through its public web address. The Company built a highly scalable Application Service Provider (ASP) platform to effectively and efficiently deliver its technologically advanced products and services to golf course clients and outside booking agents via the Internet.
FOUNDERS COMMUNICATIONS, INC.
Media & CommunicationsFounders Communications Inc. was formed with the principals of Radio Centro, the largest Spanish radio group in Mexico (managing in excess of 200 stations) with the objective to build a Spanish radio network nationwide to participate in the economic growth of this demographic sector. The Company identified and acquired a radio station in Dallas which it converted to a Hispanic format utilizing Radio Centro's existing programming formats and content. Due to the escalation price of radio properties, the radio properties were sold and an investment was made in a newspaper company. The Company was eventually sold to a strategic party.
Retail and Consumer ProductsHealthrite, Inc., a Philadelphia based business, sold private label: "Vitamin Specialties" brands such as dietary supplements, herbal base-based products, sports nutrition, personal care products, natural cosmetics, and, to a lesser extent, over-the-counter drug products, food snacks, and beverages. The Company had two primary distributions channels, a retail store chain, comprised of 11 stores, and direct marketing through a catalogue. The Company completed an initial public offering.
HOWE AND RUSLING, INC.
Financial ServicesHowe & Rusling, Inc. was a regional asset management firm that managed portfolios on a fee basis and was directly responsible for attending to the investment objectives of its clients, including individuals, pension and profit sharing plans and non-for-profit endowments. The firm enjoyed a client retention rate of over 98%, had operated for over 60 years, and was recognized by Money Magazine as one of the best 74 money managers in the U.S. The business was sold to a strategic party.
INTERNATIONAL POWER MACHINES, INC.
ManufacturingInternational Power Machines, a manufacturer of uninterruptible power supply systems, was headquartered in Garland, Texas and had distributors in Europe and Asia. The Company was a subsidiary of a publicly traded UK Company. A turnaround strategy based on consolidating locations, eliminating duplicative systems, closing all overseas branches, except for Hong Kong, and instituting a major cost reduction program was implemented for the Company. The Company expanded Hong Kong branch office to mainland China operation which became a keynote revenue provider to the business. The Company was sold to a competitor.
Oil Services & ExplorationKenai Corporation (formerly known as Kenai Drilling Ltd.) was established to acquire oil and gas drilling rigs and an ancillary business located on the Kenai peninsula in southern Alaska. Through a series of subsequent targeted acquisitions, the Company owned and operated 56 drilling rigs, an oil and gas exploration and partnership financing business, a wellhead equipment re-manufacturing business, and two oil field equipment service operations. Significantly liquidity in the Company's common stock was provided by a New York Stock Exchange listing and with institutional interest in the Company's securities.
MEADOW GROUP, INC.
Media & CommunicationsWithin nine months of its formation, Meadow Group, Inc. acquired 25% of Direct Action Marketing ("DAMI") and subsequently merged the Company and DAMI together with DAMI as a wholly-owned subsidiary. DAMI was a $40 million direct mail syndication and fulfillment company selling consumer products by using the mailing lists of credit card issuing companies such as oil companies and banks.
METROCARE ENTERPRISES, INC.
Healthcare ServicesMetrocare was an early entrant into the professional management of multiple unit healthcare operations, and was conceived and initially focused on the emerging trend in healthcare. The Company subsequently altered its original emphasis and underwent management changes which management redirected the business toward real estate development. Despite changes, the business retained and enhanced the asset value of its early acquisitions permitting the ultimate sale of the business at a considerable value. The Company's shares were listed on the America Stock Exchange.
NEW AMERICA INDUSTRIES, INC.
Real EstateNew America Industries capitalized on a macro economic trend initiated by the federal government to stimulate low and moderate income housing. The Company merged with Campanelli Industries, Inc., a Braintree, Massachusetts based regional homebuilder with developments in Illinois, Florida, Maryland, Virginia and Massachusetts. In the year that it was acquired, Campanelli was in the top 30 homebuilders in the United States.
ManufacturingOcilla Industries, Inc. was formed to acquire Flintstone Industries, a Georgia-based mobile home manufacturer. The Company was a highly efficient low-cost producer of "starter" mobile homes during an inflationary period when high mortgage rates precluded the purchase of homes by low income families in the suburban and rural markets in the south. The business prospered and the Company shipped homes to dealers as far west as Texas and New Mexico, throughout Florida and as far north as Virginia. The Company completed an IPO and investors sold their shares in a subsequent secondary offering.
SPORTS MAGAZINE ASSOCIATES LP
Media & CommunicationsSport Magazine Associates, L.P. published Sport Magazine, a 900,000 circulation monthly sports publication distributed nationally. The partnership was structured as a tax-sheltered equity investment. The magazine was owned by the Dallas-based Hunt family and was second in its category to Sports Illustrated. After introducing new management and strengthening the editorial and marketing divisions, the magazine was sold to Peterson Publishing, a national magazine publisher.
THE WATCH HILL GROUP, INC.
RetailingThe Watch Hill Group, Inc. focused on menswear and grew through acquisitions, and converted The Hub stores into branches of Jack Lang under Jack Lang management.
WINE MASTERS INTERNATIONAL, INC.
Consumer ProductsWine Masters was engaged in the acquisition of domestic and imported wines for distribution and sale under custom designed private labels. The Company was a development stage company and had established a business with the ability to sell a variety of custom private label wines in quantities as small as one case and was licensed nationwide.
WIRELESS XCESSORIES, INC.
DistributionFounders identified the value-added distribution of specialty batteries as a high-growth and highly fragmented industry with consolidation opportunity given the introduction of handheld and portable devices. The Company acquired several regional and national distributors. The investors achieved liquidity through a public stock offering 18 months after the initial investment
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