“The Windjammer team is extremely disciplined and straightforward. In addition they are direct and efficient at recognizing a “fit” with principals and management teams. Plus, Windjammer delivers on their commitments in a timely fashion and with professionalism.”

David Misch
Senior Vice President
Houlihan Lokey Howard & Zukin

Middle Market Buyouts, Mezzanine Investments, Management Buyouts

Portfolio Companies

Windjammer's portfolio investments demonstrate our ability to help middle market businesses accelerate revenue, profit growth and equity value.

FUND III PORTFOLIO

	McKenzie Sports Products, Inc. - A leading designer, manufacturer and catalog retailer of taxidermy forms and supplies, which caters to the enthusiast-driven hunting and fishing markets. McKenzie has demonstrated consistent sales and earnings growth due to a combination of selective acquisitions and organic growth.
	Rotex, Inc. - A pioneer and global leader in the development of screening and separation equipment used in a broad range of process industries, including industrial minerals, food, grain, chemicals and plastics. Rotex specializes in providing high-volume, solid-to-solid gyratory separation equipment to customers around the world who rely on Rotex machines to deliver 24/7 performance, consistent product quality and precise end product output.
	BBB Industries - A leading supplier of remanufactured and new starters and alternators for the automotive, light truck, and heavy-duty vehicle aftermarket. BBB has over 1,100 employees and serves a diverse customer base of warehouse distributors, independent automotive parts retailers, and big-box automotive parts retailers.
	Pasternack Enterprises - A leading multi-channel, business-to-business direct marketer of radio frequency, microwave and fiber optic connectors, adapters, cables, cable assemblies and other components to over 27,000 companies in over 75 countries globally. The Company’s products are used in a wide variety of electronics-based applications, including electronic instrumentation, military/aerospace electronics, telecommunications equipment, medical, industrial and transportation equipment, as well as computers, peripherals, and office equipment.
	S.T. Specialty Foods, Inc. - A leading North American manufacturer of private label and store branded, dry shelf-stable dinners and side dishes. The Company serves a diverse customer base in the grocery retail, discount retail, wholesale, mass merchandiser, and specialty retail channels. Macaroni and cheese dinners, add-meat skillet dinners, rice dinners, and meatless side dishes are among the many products the Company manufactures.

FUND II PORTFOLIO

	Athena Diagnostics, Inc. (Realized) - A leading commercial diagnostic lab testing company focused on performing esoteric tests predominantly in the field of neurology. Athena offers the most comprehensive testing menu in the neurology sector comprised of more than 70 individual esoteric tests that can improve the quality of healthcare for patients with neurological disorders.
	Brown Publishing Company - A community newspaper business that operates numerous paid daily and weekly papers in Southern and Western Ohio. Brown also publishes total market coverage papers that are distributed for free to each household in each of the markets in which it operates. The company has exhibited a successful track record of acquiring and integrating other newspaper properties over the past several years.
	Symmetry Medical, Inc. (Realized) - A leading supplier of surgical instruments, customized delivery case systems, and implant components to the rapidly growing global orthopedic reconstructive market. The company is uniquely positioned to provide customers with a single source of these products as well as significant engineering support. Symmetry sells to all the major orthopedic device companies through manufacturing facilities located in the United States and Europe.
	The RETEC Group, Inc. (Realized) - An environmental consulting company specializing in remediation consulting for contaminated industrial sites with a focus on the petroleum, transportation and utility industries. RETEC’s senior management team has a 15-year track record of consistently and profitably growing the business ahead of industry growth rates. Over this period the Company has developed strong, long-standing relationships with a core group of key clients, providing a solid base on which to continue to grow the business both organically and through acquisitions.
	HealthSTAR Communications, Inc. - A leading pharmaceutical marketing services firm specializing in providing a broad range of strategic value-added services to pharmaceutical and biotechnology companies worldwide. HealthSTAR’s product offering includes advertising agency services, continuing education, sample fulfillment, patient recruitment, physician meetings and symposiums, as well as direct-to-customer marketing through controlled venues.
	MacLean Power Systems (MPS) - A manufacturer of specialty electrical hardware and insulator components. The company’s products are sold into the electrical utility market and are utilized in power transmissions and distribution systems on a worldwide basis. MPS has also demonstrated an ability to acquire other related component manufacturers and apply its world class manufacturing practices to significantly improve the operations of these acquired businesses.
	Maxcess International Corporation - A global market leader providing highly engineered, mission critical components used in web process manufacturing applications. The Company’s line of web accessory products is the broadest in the industry and includes web-guiding systems, winding products, slitting products and systems tension controls, and inspection products. Maxcess equipment is manufactured in the United States and Europe, and sold globally under the Fife, Tidland and MagPowr brands.
	McKenzie Sports Products, Inc. (Realized) - A leading designer, manufacturer and catalog retailer of taxidermy forms and supplies, which caters to the enthusiast-driven hunting and fishing markets. McKenzie has demonstrated consistent sales and earnings growth due to a combination of selective acquisitions and organic growth.
	Medtech Holdings, Inc. (Realized) - A consumer brand management company with a focus on health-related, niche market OTC and supplement products. Medtech manufacturers and markets a well diversified portfolio of leading brands, has extensive distribution across all major food, drug and mass market distribution channels, and is led by a seasoned management team with extensive brand management experience with the major U.S. consumer products companies. Now publicly traded, the company is known as Prestige Brands. (NYSE: PBH)
	Schutt Sports Group - A leading manufacturer, reconditioner and distributor of protective equipment used by football, softball and baseball teams and is also a manufacturer and distributor of basketball equipment and collectible products. Schutt is a market leader in the football helmet, football faceguard and softball helmet markets, which comprise the majority of the company’s overall sales and earnings.
	Automatic Bar Controls, Inc. (ABC) - A global leader in the design, development and manufacture of innovative dispensing solutions for the food service and beverage industries. ABC’s proprietary products include the world’s dominant hand-held soft drink and juice dispenser, an array of condiment and sauce dispensing products, and liquor and draft beer dispensing systems.

FUND I PORTFOLIO

American Fire Protection Group (Realized) - A specialty contractor that designs, fabricates, installs, retrofits and repairs fire protection (sprinkler) systems throughout the southern U.S.

Applause Holding Corporation (Realized) - Designed, developed and marketed a broad line of toys and gifts, including plush characters and animals, figurines, coffee mugs, key chains and pens/pencils primarily for the specialty retail/gift channel.

CCA Prison Realty Trust (Realized) - A real estate investment trust (REIT) company that acquired correctional and detention facilities from both private prison managers and government agencies.

Twinlab Corporation (Realized) - The nation’s largest company focused exclusively on the manufacturing and marketing of vitamins, minerals and other nutritional supplements sold through health food stores.

Corrections Corporation of America (Realized) - Specializes in owning, operating and managing prisons and other correctional facilities.

DDi Corporation (Realized) - A leading manufacturer of complex circuit boards (CCB) for all types of electronics specializing in manufacturing high-quality CCB’s with computer-automated equipment in standard, advanced and emerging technologies for customers requiring low-to-medium quantities of boards.

Details, Inc. (Realized) - A leading manufacturer of complex circuit boards (CCB) for all types of electronics specializing in manufacturing high-quality CCB’s with computer-automated equipment in standard, advanced and emerging technologies for customers requiring low-to-medium quantities of boards.

Emerge Corporation (Realized) - Provided professional M&A services principally for the lower middle-market.

National Restaurant Enterprises, Inc. (Realized) - The second largest “Burger King” (BK) franchisee in the U.S. with 176 restaurants in 11 states.

Nebraska Book Company (Realized) - A leading wholesale and retail distributor of used college textbooks, conducting business at over 2,000 campuses nationwide.

New West Holdings, Inc. (Realized) - A leading processor of frozen strawberries in the U.S., accounting for approximately 30% of its $400+ million market.

PCA Parking Co. of America (Realized) - A family-run company that owned and operated off-site airport and other parking facilities and shuttle transportation services with over 120 facilities and 45,000 parking spaces under management.

Shari's Management Corporation (Realized) - Operates a 97-unit chain of family-style restaurants throughout the Pacific Northwest.

Skilled Healthcare Group (Realized) - A leading operator of long-term care facilities and provider of a full continuum of post-acute care services.

Sleepmaster, L.L.C. (Realized) -

An exclusively-licensed manufacturer of “Serta” brand mattresses as well as “Sleepmaster” mattresses and box springs that were sold to institutional markets.

PACIFIC LIFE INSURANCE PORTFOLIO

America's Best Contacts & Eyeglasses, L.P. (Realized) - A discount retailer of contact lenses, eyeglasses and related supplies with more than 80 stores in 17 states. The company also owned and operated its own optical laboratory, which performed eyeglass lens finishing work.

Buttrey Food & Drug Stores Company (Realized) - This supermarket chain had 44 stores serving smaller communities in Montana, Wyoming, Washington, North Dakota and Idaho.

Cable Design Technologies Corporation (Realized) - A leading designer and manufacturer of electronic data transmission cables, used to link electronic equipment for LAN, WAN, high-speed multi-media communications, building automation, computer interconnectivity and security system applications.

Carr-Gottstein Foods Company (Realized) - The largest food retailer in Alaska with 49 stores as well as the state’s only full-line food warehouse and distribution center.

KEMET Corporation (Realized) - A leading manufacturer of electronic capacitors, one of four fundamental passive components found on circuit boards and used in a wide variety of electronic applications, such as communications systems, data processing equipment, personal computers, automotive electronic systems and military and aerospace systems.

Nationwide Care, Inc. (Realized) - An owner and operator of 27 long-term healthcare facilities located in Indiana, Ohio and Florida. The facilities consisted of 24 nursing centers, two retirement centers and one assisted-living center.

Premier Amulatory Systems, Inc. (Realized) - The largest private surgery center company in the U.S. The company owned and managed 14 free-standing ambulatory surgery centers in California, Florida, Texas and various mid-western states.

Save Mart Supermarkets (Realized) - One of the leading supermarket chains in central California, operating 87 supermarkets and 13 warehouse stores.

Smarte Carte, Inc. (Realized) - The leading provider of baggage cart rentals, providing services in 107 airports and five train stations worldwide. The company also rented storage lockers in airports, train stations and Greyhound bus terminals, and also rented carts and strollers in shopping malls and retail stores.

Suiza Food Corporation/Velda Farms (Realized) - The largest manufacturer and distributor of fresh milk and related dairy products and fruit drinks in Puerto Rico. Suiza also produced, distributed and marketed refrigerated, shelf-stable and frozen food products.

The Delfield Company (Realized) - A leading manufacturer and supplier of equipment to the food service industry. The company’s principal products included commercial refrigerators, freezers, display cases, heating units, dispensing systems and food preparation tables.

Wirekraft, L.P. (Realized) - The largest independent manufacturer of specialty wire, which it primarily supplied to the independent wire harness manufacturers for the automotive industry.

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