Current and Former Holdings for Private Equity Funds
Harbinger Private Equity Fund I, LLC (“HPEF I”)The Visador Company HPEF I sponsored a management team to acquire a platform company in the millworking industry to consolidate niche building product manufacturers. In February 1998, HPEF I acquired the assets of Visador, the largest manufacturer of stair parts in the country. In early 2000, the company built a greenfield column plant to expand its product line. In February 2003, HPEF I sold its outstanding stock in Visador to a private equity firm.
Nationwide Homes, Inc. In May 1998, HPEF I led the recapitalization of Nationwide Homes, the largest manufacturer of modular homes in the South. Nationwide completed one add-on acquisition in June of 1999. In June 2002, HPEF I closed the sale of Nationwide to Palm Harbor Homes, a producer of manufactured homes.
National Speciality Clinics, Inc. In April 2000, HPEF I acquired a multi-clinic healthcare organization consisting of 17 outpatient substance abuse clinics that provided a comprehensive treatment program which included detoxification and maintenance, as well as ancillary services such as counseling and referrals to alternative treatment services. In December 2003, the company was sold to CRC Health Group, Inc.
Heckethorn Manufacturing Company, Inc. HPEF I purchased Heckethorn in June 2000 from a Chicago-based financial owner. At the time, Heckethorn controlled approximately 65% of the market for exhaust hangers that attach an automobile’s exhaust system to its chassis. The company supplied hangers to all major automobile OEMs and had content on many of the nation’s top selling platforms. In March 2004, HPEF I sold its interest in Heckethorn to a financial buyer.
KEYS Group Holdings, LLC In January of 2002, HPEF I made a preferred equity investment in KEYS Group Holdings, a company formed to acquire Children’s Comprehensive Services and Keystone Education and Youth Services. The company provided education, treatment and juvenile justice services for at-risk and troubled youth through nonresidential, specialized education programs and residential treatment centers. In October 2005, HPEF I sold its interest in Keystone to a strategic buyer.
Unity Communications HPEF I provided equity capital to facilitate Unity’s simultaneous acquisition of five telecommunications companies in June of 1999. HPEF I wrote off its investment in Unity in 2002.
Harbert Private Equity Fund II, LLC (“HPEF II”)Community Hospices of America, Inc. CHA is an in-home healthcare company that provides palliative care for terminally ill patients seeking to maximize their quality of life through a holistic approach to treatment focused on symptom and pain management. In February 2003, HPEF II teamed with a healthcare industry executive to purchase two providers of hospice services and formed a platform vehicle to effect a consolidation strategy. In November 2006, HPEF II sold its interest in CHA to a strategic buyer.
ECA Holding, LLC In September 2003, HPEF II teamed up with the operating management of Express Check Advance, LLC and Express Check Advance of Virginia, LLC in a leveraged recapitalization transaction. The company now operates payday advance lending branches in seven states.
PFC Acquisition Company, Inc. Founded in 1981, Presidential is a specialty commercial finance company that provides working capital financing to small businesses in the form of asset-based loans collateralized primarily by accounts receivable and, to a lesser extent, inventories and fixed assets. In March 2004, HPEF II, along with the existing operating management team, acquired 100% of Presidential Financial Corporation in a leveraged buyout. In November 2005, a new product line was added to the Presidential platform through the acquisition of a factoring company that focuses on financing health care receivables.
Winnercomm Holdings, Inc. Winnercomm Holdings, Inc. provides a range of services including television program production, television remote event production, website management and advertising sales, television advertising sales, advertising agency, rights management and content storage and editing. Winnercomm also owns Skycam and CableCam, aerial camera systems that utilize a camera suspended above the field to provide overhead video of sporting events.
PWI Holdings, Inc. In August 2006, HPEF II acquired a controlling interest in PWI Holdings, Inc., which through its wholly owned subsidiary, Preferred Warranties, Inc. (“PWI”), underwrites and administers vehicle extended services agreements that are sold through a network of used automotive dealers. PWI also sells GAP insurance, roadside assistance protection, etch anti-theft protection and tire and wheel protection. A second subsidiary, Atlas RRG, is a risk retention group registered in the District of Columbia that issues a contract liability insurance policy to PWI to back up the service contracts issued by the company and maintains reserves to fund potential claims. A third subsidiary, Preferred Automobile Credit Corporation (“PACCO”), is a licensed motor vehicle lender that offers sales finance contracts to sub-prime credit consumers through select dealers.
CF Holding Company, Inc. In August 2006, HPEF II acquired a controlling interest in CF Holding Company, Inc., which through its subsidiaries (Caldwell Freight Lines and Foothills Trucking) is one of the nation’s largest less-than-truckload (“LTL”) carrier and logistics managers, serving exclusively furniture manufacturers, importers, and retailers throughout the United States.
Child Health Holdings, Inc. In September 2006, HPEF II acquired a controlling interest in Child Health Systems, Inc., which operates day care and respite care facilities for children with acute medical conditions.
Aerosol Packing, LLC In June 2006, HPEF II provided debtor-in-possession (“DIP”) financing to Aerosol Packaging, LLC d/b/a Aerosol Specialties, which packages private-label aerosol products for a wide range of end users. The DIP loan was repaid in full in May 2007.
TSF Holdings, Inc. In December 2006, HPEF II established TSF Holdings, LLC to acquire 100% of the assets of Tri State Foam Products, Inc., a manufacturer of polystyrene foam products used in the packaging and construction materials markets.
Dent-A-Med, Inc. In December 2006, HPEF II acquired a controlling interest in Dent-A-Med, Inc., a specialty consumer finance company that funds retail purchases for consumers with less than perfect credit.
Precision Alloys Corporation d/b/a Arbor Metals In August 2007, HPEFII established Precision Alloys Corporation, which then acquired 100% of the assets of Arbor Metals, L.P. Arbor, based in Dallas, Texas is a value-added specialty stainless steel processor that focuses primarily on the production of flat-rolled precision strips and coils of various gauges, tolerances, and customer specifications. The company’s products are sold to both OEM manufacturers and intermediate manufacturers across a wide range of non-construction related industries.
TBT Holding Company, Inc. d/b/a Travis Body and Trailer, Inc. In November 2007, HPEF II established TBT Holding Company, Inc. to acquire 100% of the stock of Travis Enterprises, Inc., which owns 100% of Travis Body and Trailer, Inc., an aluminum dump trailer manufacturer. Travis manufactures aluminum end dumps, bottom dumps, transfer, dump body, and tipper trailers that are sold across a wide variety of industries. The company’s products are sold through a nationwide dealer network.
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IMPORTANT NOTICE Portfolio Holdings are subject to change and should not be considered a recommendation to buy or sell a security. There is no assurance that any securities listed will remain in the portfolio or will be profitable. |