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Included below are current and past portfolio companies where the Special Situations strategy had a control position or significant influence. Current portfolio company descriptions are as of June 30, 2022, while past portfolio companies are as of the time of exit.
CURRENT PORTFOLIO COMPANIES
PAST PORTFOLIO COMPANIES
CURRENT PORTFOLIO COMPANIES
Array Canada is a leading North American supplier of retail fixtures to the prestige beauty industry. The company designs and supplies in-store merchandise presentations for top global beauty brands and resellers.
Australian Alternative Asset Partners
Australian Alternative Asset Partners is an Australian fund manager and operator of two investment management platforms: Fortitude Investment Partners (growth capital) and January Capital (venture capital).
Blue Ribbon Holdings
Blue Ribbon Holdings is a holding company in the beer and brewing space.
Boardriders, one of the world’s leading outdoor sports lifestyle companies, designs, produces and distributes apparel, footwear and accessories under its Quiksilver, Roxy and DC Shoes brands. In April 2018, Boardriders acquired Billabong International, adding Billabong, RVCA, Element, VonZipper and Xcel to the brand portfolio. The company’s brands are among the most coveted in surf, snow and skate.
BusPatrol partners with municipalities and school districts to deploy its “SmartBus” technology, which automates the enforcement of school bus “stop-arm violations” (i.e., the illegal act of passing a stopped school bus that has its red lights flashing). The company installs its technology at no cost to the contracted school districts, outfitting each bus with a stop-arm camera equipment package.
Caerus is engaged in the acquisition, development and production of clean-burning, affordable natural gas in the Piceance and Uinta basins in western Colorado and eastern Utah.
Crossroads is a platform that acquires distressed and subscale U.S. distributors of primarily residential roofing and siding.
DDH1 Group provides drilling services to the Australian mineral exploration and mining industry. Customers (e.g., gold, copper, zinc and nickel miners) use the core samples that can be obtained from the company’s drilling to identify the location, type and amount of resources present, as well as to establish and extend the mining plan.
Foley Products was founded in 1981 and is a leading producer of a wide range of concrete products in Georgia, Alabama, Tennessee and Florida.
Founded in 2007, GITSIT Solutions provides residential asset management and specialty loan servicing.
Interblock is a leading worldwide developer and provider of luxury electronic table games (ETGs) to casinos, supplying automated versions of blackjack, roulette, craps and other games.
J&J Ventures Gaming is a video-gaming-terminal operator in the distributed (or slot-machine route) gaming market. J&J is one of the largest operators in the Illinois market.
Marlin Brands is a wholesaler and distributor of low-cost everyday consumer-durable goods used primarily around the home. These goods include kitchen storage, microwavable containers, hydration products, phone accessories, sunglasses, artificial flowers, gifts and toys. Marlin serves as the link between manufacturers requiring minimum order volumes and retail establishments in Australia and New Zealand that need to stock a wide assortment of products in specialized, low-volume categories.
Nevada Heart & Vascular provides cardiac and vascular care in Southern Nevada, with a comprehensive offering of invasive and non-invasive procedures. The company also owns imaging, sleep and ambulatory surgery centers and a catheterization laboratory.
Proserv is a global, technology-driven provider of engineered products and services to the oil and gas industry, with a focus on the offshore subsea segment. The company helps clients maximize operational performance and efficiency for the entire life of a field, from drilling and installation to production and decommissioning.
Strawn Petroleum Holdings
Strawn Petroleum Holdings is an oil and gas company with assets in the Permian Basin. The company currently focuses on drilling horizontal (i.e., unconventional or “shale-style”) wells.
SunOpta is a leading global company focused on plant-based foods and beverages, and fruit-based foods and beverages. It sells its products as private brands for retail grocers and to foodservice customers in the United States and abroad.
TechStyle Fashion Group is an online fashion retailer that sells athleisure appeal, lingerie, shoes, handbags and jewelry. The company offers its members personalized shopping experiences based on their fashion preferences through its Fabletics, JustFab, ShoeDazzle, FabKids and Savage X Fenty brands.
Watermark Lodging Trust is a non-traded REIT and owner of large, irreplaceable coastal or destination resorts and hotels in top-25 urban markets.
WHP Global is a platform for acquiring, managing and licensing consumer brands. Following the acquisition of the brands, the company invests in expanding them to high-growth distribution channels, new categories and digital commerce platforms.
PAST PORTFOLIO COMPANIES
Accordion Reinsurance is a special-purpose insurer that was established to take advantage of the attractive pricing environment which followed the elemental catastrophes of 2010 and 2011. This environment was driven by the reduced amount of available reinsurance capacity and the increased demand for property and natural catastrophe retrocession (i.e., reinsurance for reinsurers). Saltire and Kinesis, similar but related vehicles, were formed in 2012 and 2013 to capitalize on both elemental and non-elemental loss events.
Acorn Products manufactures and markets non-powered lawn and garden tools in the United States.
AdvancePierre Foods, Inc.
AdvancePierre Foods is a national producer and distributor of value added protein products and hand held convenience items. The company has achieved a leading market share in the U.S. in the following categories: packaged sandwiches, fully cooked burgers, Philly-style steaks, stuffed chicken breasts, fully cooked breaded chicken and country fried steaks. The company’s target markets include the foodservice, retail and convenience store & vending channels. Headquartered in Cincinnati, Ohio, APF employs over 4,000 people and produces its products in eleven manufacturing facilities located in the U.S.
Agro Merchants Group
Formed in 2013, Agro Merchants is a global cold storage logistics platform, focused on providing integrated cold chain solutions to customers across geographies. With a presence in the U.S., Europe and South America, Agro seeks to invest in modern assets that possess industry-leading technologies, offer value-added services and support key international trade flows.
Alliance Healthcare Services, Inc.
Alliance is a leading national provider of mobile and fixed-site diagnostic imaging and radiation therapy services, deriving the majority of its revenues from MRI and PET/CT services that generate representations of the internal anatomy and convert them to ﬁlm or digital media. The company offers radiation therapy services through its Alliance Oncology division.
AloStar Bank of Commerce
AloStar Bank of Commerce takes deposits over the Internet (primarily in the form of CDs), makes small-business loans and provides back-office services to small banks throughout the Southeastern U.S.
Formed in 1983, AmericanWest Bank owns and operates retail banking branches throughout Washington, Idaho, Oregon, California and Utah.
APW is a leading provider of high-end enclosure systems and ancillary products for the server, storage, semiconductor and telecommunications equipment markets.
Biopure is a biopharmaceutical company that specializes in oxygen therapeutics for both human and veterinary use. The company develops, manufactures, and markets oxygen therapeutics designed to transport oxygen to the body’s tissues.
Bristol Farms is a leading southern California grocery retailer of gourmet, organic, and natural foods.
Caminus provides software to the power and gas trading industry. Caminus was formed in 1998, went public in January 2000 (NASDAQ: CAMZ), and was acquired by SunGard Data Systems in April 2003.
Cannery Casino Resorts
Cannery Casino Resorts owns or operates two gaming and leisure properties, primarily serving local residents in Las Vegas, Nevada. These properties are the Cannery Casino & Hotel in North Las Vegas and the Eastside Cannery Casino & Hotel on the Boulder Strip in East Las Vegas. The company also owns and operates the Meadows Racetrack & Casino in Washington County, Pennsylvania, and provides management and consulting services.
Cequel Communications Holdings LLC
Cequel Communications (formerly known as Cebridge Connections and Classic Communications) is a leading owner, operator and acquirer of broadband communications systems primarily serving non-metropolitan markets. Cequel, which is the eighth-largest cable broadband company in the United States with more than 1.2 million customers, offers analog and digital video services, advanced video services (such as high-definition television, digital video recorders and video-on-demand), high-speed data service and telephony service.
CF Group is a leading supplier of commercial furniture for the hospitality, institutional and food service end markets.
Chart Industries is a manufacturer of engineered products used to purify, distribute and store industrial and hydrocarbon gases. Chart’s products, which include heat exchangers, cold boxes, and storage and distribution tanks, and end‐market application devices are used throughout the industrial and hydrocarbon gas supply chains, which include activities such as beverage and bottle dispensing, liquefied natural gas pipelines and storage facilities, biological storage systems, and medical and electronics test equipment.
Cherokee is a leading designer and manufacturer of custom power supplies for original equipment manufacturers in the telecommunications, networking, high-end workstation, and other electronic equipment industries. Cherokee’s products regulate and filter utility power and convert it into a form used in sensitive electronic equipment. Cherokee was acquired in 1999, went public in February 2004 (NASDAQ: CHRK) and was sold to Lineage Power Corporation in November 2008.
Founded in 1918, Chesapeake is one of Europe’s leading providers of specialty paperboard packaging for the pharmaceutical, confectionery and spirits markets and also a producer of rigid plastic packaging. Paperboard packaging products include folding cartons, spirally wound composite tubes, leaflets and labels. Plastic packaging products include containers, bottles and various preforms for agrochemicals, other specialty chemicals, and the food and beverage markets.
CollaGenex Pharmaceuticals, Inc.
CollaGenex develops and markets proprietary medical therapies to the dermatology market.
Conbipel is an apparel retailer in the highly fragmented Italian market. The company’s stores offer low- to mid-priced classic and fashion clothing lines for men, women and children.
Contango Oil and Gas/Crimson Exploration
Contango is a premier Houston-based independent oil and gas company with a balanced offshore Gulf of Mexico and onshore Texas production profile.
Coriant is one of the largest developers and providers of optical transport network (“OTN”) equipment and services in the U.S. and the world. OTN equipment efficiently stacks, combines and transmits light carrying large quantities of data over fiber-optic cables, facilitating the vast majority of human and machine-to-machine communication.
Cyanco Holding Corporation
Cyanco is the world’s largest supplier of sodium cyanide. Sodium cyanide is used in the gold mining industry to separate gold and other precious metals from iron ore.
Dayco is a global manufacturer, marketer and distributor of engine management technologies for the original equipment and aftermarket light vehicle and heavy-duty vehicle industries.
Dayton Superior Corporation
Dayton Superior is a leading North American provider of metal accessories and chemicals consumed in non-residential concrete construction. The company also is one of the largest North American concrete forming and shoring systems manufacturer and rental companies serving that market.
Deutsche Office/German Acorn
Deutsche Office (DO) is a publicly listed German commercial office property company that owns ~50 properties with >10 million square feet of rentable space.
Deutsche Wohnen AG
Deutsche Wohnen is Germany’s second-largest publicly traded residential landlord. With the acquisition of Berlin-based Gehag Group in July 2007, the property portfolio consists of 49,000 units with approximately 33 million square feet of total living space. The properties are located primarily in the Frankfurt area and Berlin.
Diamond Foods is a leading processor, marketer and distributor of snack products and culinary nuts (i.e., those used for baking as opposed to snacking). Founded in 1912, the company’s portfolio of leading brands includes: Kettle Brand potato chips, Pop Secret popcorn, Diamond of California baking nuts and Emerald snack nuts.
DNA Diagnostics Center, Inc.
DNA Diagnostics is the largest provider of private DNA paternity and other DNA tests in the United States and worldwide. DDC currently provides comprehensive DNA testing services in three main areas: paternity and other family relationships, forensics and genetics. DDC’s subsidiary, Veterinary Diagnostics Center, provides innovative, quality DNA testing for companion and sport animals.
EXCO Resources, Inc.
EXCO Resources is an unconventional oil and natural gas exploration, exploitation, development and production company, with principal operations in East Texas/North Louisiana, South Texas and Appalachia.
First BanCorp is a publicly traded bank holding company headquartered in San Juan, Puerto Rico. The bank is one of the largest in Puerto Rico, with additional banking operations in Florida and the Virgin Islands.
Floatel owns and operates a modern fleet of floating accommodation and construction rigs supporting global offshore oil and gas infrastructure.
Forest Oil is engaged in the exploration, development and production of oil and natural gas, primarily in the Gulf of Mexico and Alaska.
Fu Sheng Industrial Co., Ltd.
Founded in 1953, Fu Sheng consists of three businesses: Fusheng Industrial, a leading producer of air compressors in Greater China; Fusheng Precision, the world’s largest golf club head manufacturer; and Fusheng Electronics, the second-largest Taiwanese manufacturer of lead frames for integrated circuit and light-emitting diodes (LEDs).
Genco Shipping and Trading
Genco Shipping and Trading is an operator and lessor of dry‐bulk vessels that transport such commodities as iron ore, coal, grain and steel products.
Gener8 Maritime is a global provider of seaborne crude oil and petroleum product transportation services. With a diversified fleet of oil tankers, the company is able to offer its vessels on a spot voyage and time charter basis to customers such as oil producers, distributors, shipping companies and traders.
GeoLogistics is a leader in non-asset based logistics, with an extensive network of operations in nearly 100 countries around the world.
Hanley Wood is a leading business-to-business media company serving North America’s residential and commercial construction industries. Headquartered in Washington, D.C., the company operates through three divisions – Business Media (magazines and e-Media), Market Intelligence (residential housing data) and Marketing. Hanley Wood sold its core exhibitions business to Informa plc in December 2014.
HydroChem Industrial Services is the leading domestic provider of industrial cleaning services to the petrochemical, oil refining, utility and pulp and paper industries. HydroChem provides its customers with cleaning services that maintain and improve operating efficiency, such as hydroblasting, chemical cleaning, tank cleaning and industrial vacuuming.
InfraSource is one of the largest national providers of infrastructure services to the electric, gas and telecommunications industries. The company operates in three distinct business segments: (i) turnkey design, engineering and construction services for high-voltage electric substations and design and construction of aerial electric transmission and distribution networks; (ii) installation of underground natural gas, electric, and telecommunications lines; and (iii) operation of a dark fiber leasing business for the telecommunications industry.
Isola Group is a diversified global developer of high-performance laminates used in the manufacture of multilayer printed circuit boards (PCBs), which are the foundation for virtually every electronic product. End-market applications for these laminates include high-end computing, aerospace, automotive, broadband telecommunications and the military.
Loving Care Agency, Inc.
Loving Care is a leading provider of certified home health aides and skilled pediatric home nursing services primarily focused in New Jersey and Pennsylvania.
Maritime Equity Partners, LLC
Maritime Equity Partners was formed with longtime partner and shipping executive Peter Georgiopoulos to invest in distressed shipping assets (e.g., dry-bulk cargo vessels, crude oil tankers, container ships, petroleum-product carriers, and offshore drilling rigs and ships). The company currently owns 12 dry-bulk ships.
Millennium Rail provides repair and maintenance services to the rail industry. The company offers such services as fleet management, general repair and maintenance, specialty freight car manufacturing, and program work.
My Alarm Center
My Alarm Center is one of the leading residential-security providers in the U.S. The company sells alarm-monitoring services, offers installation and technical support, and provides billing and collecting for its customers.
National Mobile Television
National Mobile Television provides television production trucks and crews in North America and Europe. It offers mobile television facilities for the production of television broadcasts from remote locations, such as stadiums, arenas and conference halls.
Founded in 1934 and headquartered in Buffalo, NY, Osmose is a leading provider of services and products that extend the reliable and economic service lives of wooden utility poles, towers and other utility field assets.
Pegasus Aviation is a specialty finance company that purchases, finances, leases and manages passenger and freighter aircraft.
Power Measurement, Inc.
Power Measurement is an energy information technology company and a leading provider of enterprise energy management systems for energy suppliers and consumers worldwide. The company’s ION® web-enabled software and intelligent metering and control devices measure, evaluate, and help manage power consumption and conditions and enable industrial, commercial and institutional businesses to manage consumption and modify processes to avoid power quality and reliability problems and reduce energy costs. We acquired Power Measurement in 1996 and sold it to Schneider Electric in 2005.
ProVen Pharmaceuticals, LLC
ProVen Pharmaceuticals distributes biotherapeutic products used by hospitals, home infusion therapy companies and other healthcare providers to treat trauma, autoimmune conditions, immune deficiencies, infectious diseases, bleeding disorders and other life-threatening conditions. The company has a network of distribution points across the United States and Puerto Rico.
R&R Ice Cream
Built through a series of acquisitions, R&R is Europe’s largest private-label ice cream producer, capable of serving customers on a pan-European basis. The company also is the third-largest overall manufacturer of ice cream in Europe and its products are sold to major European retailers as both private label and branded products, some of which are manufactured and sold through licensing agreements with major international marketers including Nestle, Disney and Kraft.
RailUSA is a platform that intends to acquire at attractive valuations distressed, non-core or undermanaged short-line railroad assets in the United States.
Regal Entertainment Group
Regal is the largest domestic motion picture exhibitor. Regal focuses on mid‐sized metropolitan markets and suburban growth areas of larger metropolitan markets, predominantly in the eastern and northwestern United States.
Roller Bearing Company
Roller Bearing Company manufactures and distributes precision roller, ball, and plain bearings. The company sells its products primarily to original equipment manufacturers and distributors in the industrial and aerospace markets, and to the U.S. government principally for aerospace applications.
Rural Metro is a national provider of medical transportation services, consisting primarily of emergency and non-emergency ambulance services.
Senior Home Care
Senior Home Care provides Medicare-focused home care services in the Southeastern region of the United States. The company has a leading presence in Florida and Louisiana.
Spirit Airlines, Inc.
Spirit Airlines is an ultra low-cost, low-fare airline based in Fort Lauderdale, Florida that provides affordable travel opportunities principally to and from South Florida, the Caribbean and Latin America.
Stock Spirits Group
Created through the merger of Eckes & Stock and Polmos Lublin, Stock Spirits Group is a leading pan-Central and Eastern European branded spirits producer. The company has the number-one market position in both Poland and the Czech Republic and the number-four position in Italy. The company’s spirits and liqueur brands comprise the leading “must-stock” brands in most categories in its core markets.
Tandus Group, Inc.
Tandus designs, manufactures and markets three leading specified (as opposed to off-the-shelf) commercial carpet brands: C&A, Monterey and Crossley. The company primarily sells to customers in the education, corporate, healthcare, government and retail markets.
Tecta America is one of the largest commercial roofing contractors in the United States, with expertise in all roofing systems, manufacturers’ products and facility types.
Tekni-Plex is a global, diversiﬁed manufacturer of packaging, packaging products and materials, as well as tubing products. The company primarily serves the food, healthcare and consumer markets, with operations in the United States, Europe, China, Argentina and Canada.
Townsquare Media is a publicly traded radio broadcasting and digital content company focused on acquiring, developing and operating radio, digital and local media properties in mid-sized markets. The company is one of the largest owners of radio stations in the United States, operating market-leading media clusters.
Triton Digital is the leading digital service provider to traditional and online radio with a rapidly expanding roster of media clients emerging from the television and print space. Its infrastructure, applications, and innovation powers digital audience and revenue growth for clients around the globe, and its platform makes digital content accessible, personal, social, and profitable.
Tumi is a leading designer, marketer and distributor of high-end luggage and business cases whose products are sold worldwide through upscale department stores and Tumi-branded stores.
Universal Preservation Technologies
Universal Preservation Technologies engages in the development and commercialization of stabilization technologies for the preservation, storage, and shipment of biological and pharmaceutical materials.
Vesta provides integrated payment solutions that offer sophisticated fraud prevention and risk management, allowing clients to outsource their end-to-end payment infrastructure. The company specializes in merchants that sell virtual goods through card-not-present (CNP) channels (online and mobile), where the risk of fraud is highest.
Wright Line is a leading designer, manufacturer and marketer of technical office furniture and enclosure solutions for the office and data-center markets.
Xantrex Technology Inc.
Xantrex is a leading supplier of advanced power electronics and controls for the commercial, recreational, and residential markets. The company’s technology is applicable to fuel cells, flywheels, solar panels, windmills, and modern batteries, for both grid-connected and off-grid applications. We acquired Xantrex in 1998, it went public in March 2004 (TORONTO: XTX.TO) and it was acquired by Schneider Electric in 2008.