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Cabi LLC

www.cabionline.com/

Management buyout

Press Releases
03/2017


Headquartered in Carson, California, cabi is a direct marketing company that designs and sells women’s apparel through a network of more than 3,400 independent stylists. Cabi’s stylists sell its clothes through by-invitation-only shows in private homes in the U.S., Canada, and the U.K. Cabi provides sales training and marketing support to its stylists and leads the industry in stylist retention, which has enabled it to become a leader in the direct selling channel.

Cabi's stylists conduct shows in the homes of more than 78,000 hostesses. Cabi delivers beautifully-detailed and high-quality designer clothing that is on trend, accessibly-priced and appeals to a broad and attractive demographic. Cabi is revolutionizing the way women shop and work through its unique fashion experience and the career opportunities it offers its independent stylists.



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Cottman Transmission Systems, Inc.

www.cottman.com

Management Buyout
Transition from Founder Ownership

Press Releases
03/2004
12/2002
08/1999


Cottman Transmission Systems, Inc., a company headquartered in Fort Washington, PA, is a franchisor of automotive transmission centers that repair, remanufacture and service transmissions and related components. Cottman, the "Transmission Physician," opened its first transmission repair center on Cottman Avenue in Philadelphia in 1962. With more than 300 centers in the United States and Canada, Cottman is now one of the largest transmission service and repair chains in North America.

Consistently ranked among the top franchise organizations in the U.S., Cottman continues to grow by aggressively franchising new centers and by selectively acquiring independent transmission repair chains. This growth is driven by several positive industry trends: an aging U.S. vehicle population; increased popularity of front-wheel and four-wheel drive vehicles that have more complex transmissions; a return to high-performance/high-output engines that place more strain on transmissions; and greater use of computers in automobiles that make transmission repair a more specialized and costly service.

Sentinel Capital Partners and Cottman's management team acquired the company in a buyout transaction in July 1999. Sentinel originated and sponsored the acquisition, arranged the debt and provided private equity financing.

In March 2004, after achieving substantially all of its investment objectives within four-and-a-half years, Sentinel sold Cottman to American Capital Strategies, Ltd. for $77.3 million. Since Sentinel's original investment, Cottman's sales and profitability have grown by more than 65%. With approximately 400 stores in its franchise system, Cottman is well positioned to continue growing.



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Driven Performance Brands, Inc.

www.flowmastermufflers.com

Management buyout

Press Releases
09/2015


Driven Performance Brands ("DPB") is a leading designer, manufacturer, and marketer of specialty automotive aftermarket performance products for car and truck enthusiasts. DPB offers a variety of uniquely designed and stylized products to a wide range of automotive enthusiasts who consider what they drive and how the vehicle performs an important lifestyle choice. DPB's product line touches almost every part of the undercar, from exhaust to transmission, drivetrain, and electronic tuning products, and is marketed under five leading brands: Flowmaster, B&M Racing and Performance, Hurst Shifters, Hurst Driveline Conversions, and Dinan Engineering.

Founded in 1953, DPB is headquartered in Santa Rosa, California. DPB sells through online specialty retailers, warehouse distributors, auto dealers, traditional auto parts retailers, and OEMs, as well as directly to consumers. DPB is a strong, consumer-focused company with a portfolio of iconic brands and an unmatched distribution network. DPB operates in a large and fragmented industry, has a committed and loyal customer base of devoted automotive enthusiasts, and is well positioned to add similarly compelling brands to its portfolio.

 

Product Families
B&M Racing & Performance
Dinan Engineering
Flowmaster Exhaust Systems
Hurst Driveline Conversions
Hurst Shifters



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Entre Computer Centers, Inc.

Growth Capital
Subsequent IPO

Press Releases


Entre Computer Centers, Inc. was started in McLean, Virginia in 1981 as a pioneer in retail distribution of personal computer hardware, software and services. Structured as a franchisor, Entre's merchandising strategy was to offer a wide selection of brand name PC-related products and services with one-stop shopping convenience. Before its sale to Intelligent Electronics in 1991, Entre was the second largest computer retailer in the United States.

In 1983, Sentinel's founder led the investment in Entre's first institutional private equity growth capital financing through his previous firm, First Century Partners. First Century became Entre's largest investor and gained representation on the company's board of directors. Entre held its initial public offering in 1985, followed by several successful secondary public offerings before its eventual sale.



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Floral Plant Growers L.L.C.

www.natbeauty.com

Management Buyout
Transition from Founder Ownership
Subsequent Add-On Acquisitions

Press Releases
10/2004
08/1998
10/1996


Floral Plant Growers, L.L.C., headquartered in Green Bay, Wisconsin, produces, markets and sells specialty floriculture products to lawn and garden centers of mass-merchant retailers. Floral's primarily product is bedding plants, which are small-blooming flowers sold in trays for planting in gardens or flower boxes. This segment of the horticulture business generates $2 billion per year in revenues and has grown at 10% annually for the past 10 years.

The graying of America, which has helped make gardening one of the nation's most popular leisure activities, continues to fuel industry growth. While big-box retailers such as Home Depot, Lowes, Wal-Mart and Target are enjoying profitable growth in the lawn and garden category, many smaller floriculture suppliers lack the sophistication and resources to adequately serve the mass-merchant channel. Managing more than 70 acres of production capacity in five highly automated greenhouses in Maryland, Delaware, Wisconsin, Iowa and Indiana, Floral's strategy is to execute an industry consolidation by acquiring these smaller companies.

Sentinel Capital Partners acquired Floral in October 1996 in a buyout transaction that involoved a transition from founding family ownership. Sentinel originated and sponsored the acquisition, arranged the debt financing and provided the private equity financing.

In October 2004, after achieving substantially all of its investment objectives within eight years, Sentinel sold Floral to Blue Point Capital Partners. Since Sentinel's original investment, Floral's sales and profitability have tripled. With approximately 70 acres of production capacity spanning the Midwest through the Atlantic seaboard, Floral is well positioned to continue growing.



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Frame-n-Lens Optical, Inc.

Recapitalization
ESOP
Transition from Founder Ownership
Subsequent Add-On Acquisitions

Press Releases


Frame-n-Lens Optical, Inc., originally a private company headquartered in Santa Fe Springs, California, was established as an everyday low price prescription optical retailer. Until its sale in 1998, Frame-n-Lens was the fifth-largest prescription eyewear manufacturer and retailer in the United States.

Frame-n-Lens successfully differentiated itself by offering a select line of eyeglass frames, quality service in convenient locations, and everyday low prices that were significantly below its major competitors.' The vertically integrated Frame-n-Lens operated one of the largest state-of-the-art fabrication laboratories in North America and was the low-cost producer in its market. The company operated 296 retail stores; 160 were located in strip shopping centers and the remainder were in Wal-Mart and Sam's Club stores. Frame-n-Lens was highly profitable.

In 1989, one of Frame-n-Lens' two founders decided to sell his holdings due to poor health. The purchase of this founder's shares was accomplished through the creation of an ESOP and by private equity capital supplied by First Century Partners, the predecessor firm of Sentinel's founders. While at First Century, one of Sentinel's founders sponsored the investment, which enabled First Century to become Frame-n-Lens' largest institutional investor and to gain representation on the company's board of directors. In addition, Frame-n-Lens' management was able to establish a significant equity stake in the company via the ESOP.

In 1994, Frame-n-Lens acquired competitor Family Vision Centers, a 130-store prescription optical retailer operating stores within Wal-Mart. Sentinel's founder was responsible for initiating, structuring, negotiating and arranging financing for the transaction.

In June 1998, Frame-n-Lens was acquired by National Vision, Inc. (NASDAQ: NVI) in an all-cash transaction valued at $45 million.



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Growing Family, Inc.

www.our365.com

Management Buyout
Transition from Founder Ownership
Subsequent Add-On Acquisitions

Press Releases
10/2006
01/2002
09/1998
03/1998
03/1997
11/1995


Growing Family, Inc., located in St. Charles, Missouri, owns and operates three complementary businesses serving new parents and companies that want to reach them. Established in 1954, Growing Family has a solid record of consistent profitability and growth.

FirstFoto, the core business, is North America's largest provider of in-hospital infant portrait products and services, having exclusive contracts with more than 2,650 hospitals in the United States and Canada. Growqing Family produces and manufactures portraits in its captive labs in St. Charles.

Approximately 3.2 million of the 4.0 million babies born annually in North America are born in First Foto hospitals. Growing Family's representatives personally interact with more than 70% of all new mothers in North America within hours of the birth event. Because of this interaction, Growing Family possesses the most comprehensive and current database of families with newborns and can offer a powerful and captive distribution channel to leading consumer product/service companies seeking proprietary and timely access to new mothers.

Growing Family's other two businesses capitalize on this unique access. The company's ecommerce web site growingfamily.com offers various products and services to new families. Growing Family's third business is a rapidly growing, highly profitable information and marketing service business targeting large consumer product and service companies and new families.

In 1995, Sentinel Capital Partners originated, sponsored and provided the private equity financing for Growing Family's recapitalization transaction valued at $46.5 million.

In August 2006, after achieving substantially all of its investment objectives, Sentinel sold Growing Family in a management buyout transaction.



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Hollander Sleep Products, Inc.

www.hollander.com

Management Buyout

Press Releases
10/2014


Founded in 1953 and headquartered in Boca Raton, Florida, Hollander is a leader in the North American basic bedding segment producing bed pillows, mattress pads, comforters, foam products, and related sleep accessories. Hollander markets its products under a portfolio of highly recognizable proprietary, licensed, and retail partner brands including Ralph Lauren®, Simmons®, Beautyrest®, Laura Ashley®, Nautica®, Waverly®, and Live Comfortably®.

Hollander operates nine facilities across North America and employs more than 1,600 people worldwide. Hollander sells its products to departments stores, big box retailers, independent stores, and through catalog and Internet retailers.



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Massage Envy, LLC

www.massageenvy.com

Corporate Carveout
Management Buyout

Press Releases
09/2012
01/2010


Massage Envy, headquartered in Scottsdale, Arizona, is the nation’s largest provider and franchisor of therapeutic massage services.

Massage Envy offers professional and affordable therapeutic massage services to consumers with busy lifestyles, offering convenience, high quality, and excellent value. Since its founding in 2002, Massage Envy has established itself as the leading franchisor of massage therapy services in the United States, with more than 600 clinics operating in 42 states generating more than $450 million in systemwide sales. With a highly trained and committed workforce of more than 10,000 employees, Massage Envy offers a range of services that include full-body and partial-body massage therapies and facial skin treatments.

Massage Envy operates through a membership model, giving the company and its franchisees the benefit of recurring, predictable revenues. In 2009, Entrepreneur magazine’s Franchise 500® ranked Massage Envy as one of the nation’s 20 “Fastest Growing Franchises” in addition to #1 in the “Massage Services” category.

Massage Envy is well positioned to continue to expand via openings of de novo centers in new and existing markets. Massage Envy is fueling market growth by offering convenience, high-quality, and competitive value pricing. According to the American Massage Therapy Association, the many powerful benefits of therapeutic massage include reducing fatigue, lower back pain, and post-operative pain; boosting the body’s immune system; decreasing the symptoms of carpal tunnel syndrome; lowering blood pressure; and diminishing headache frequency. Massage Envy has taken an exclusive, high-priced service and made it affordable to and accessible for the general public. Today, millions of Americans find therapeutic massage to be an invaluable component of their wellness.

In September 2012, after achieving substantially all of our investment objectives, Massage Envy was sold to another private equity firm. Since Sentinel's original investment, Massage Envy grew rapidly, expanding from 600 to 800 clinics in 45 states, more than doubling its sales and profits, and having a backlog of more than 200 yet-to-be-opened units. Massage Envy remains well positioned to continue growing under the leadership of its superb management team.



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Office Depot, Inc.

www.officedepot.com

Growth Capital
Subsequent IPO

Press Releases


Office Depot, Inc., headquartered in Delray Beach, Florida, was established in 1986 as a "category-killer" business whose strategy was to create a new, low-cost distribution channel in the office supply industry. Today, Office Depot (NYSE:ODP) is a superstore retailer, ecommerce and catalog marketer, and contract stationer of office products and supplies.

Office Depot offers a wide selection of brand-name office products at everyday low prices. With annual revenues of more than $10 billion and more than 1,000 superstores across the country, Office Depot has established itself as the largest office supply marketer in the U.S.

In 1987, shortly after the company's founding, Sentinel's founder originated and sponsored the investment in Office Depot's first institutional private equity financing while employed at Smith Barney's private equity affiliate. Smith Barney became Office Depot's largest investor and gained representation on the company's board of directors. Office Depot complete a highly successful initial public offering in 1988.



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Quick Weight Loss Centers LLC

www.quickweightlosscenter.com

Management buyout

Press Releases
08/2016


Quick Weight Loss Centers LLC is a leading, multistate health and wellness company that provides weight loss management services. Quick Weight Loss's services address the nation’s growing obesity problem through highly differentiated weight loss programs that enable clients to achieve and maintain their weight loss goals.

Through 32 weight loss management centers in Texas and Florida, Quick Weight Loss offers a proprietary, retail-based weight loss program that teaches customers how to lose weight through nutritional programs that are augmented with significant one-on-one, in-person counseling and supplemental product sales. Quick Weight Loss’s nutritional programs educate clients how to eat well-balanced diets without counting calories or eating pre-packed food, and its high frequency, in-person counseling drives accountability and positive customer outcomes. Founded in 1988, Quick Weight Loss has helped thousands of people achieve and maintain their weight goals.



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Rocky Mountain Savings Bank

Debt Restructuring / Recapitalization
Operational Turnaround

Press Releases


Rocky Mountain Savings Bank, headquartered in Cheyenne, Wyoming, was created in late 1988 as the successor to two insolvent thrifts bailed out by the Federal Savings and Loan Insurance Corporation (FSLIC) and an investor group. Following the closing, Rocky Mountain became the largest thrift in Wyoming and the state's second largest bank. With more than $1 billion in assets, Rocky Mountain specialized in offering consumers residential mortgages, personal loans and various investment products.

The investor group included First Century Partners, the predecessor firm of Sentinel's founders, who invested in the private equity transaction on the belief that a superior return could be achieved by leveraging the FSLIC financial assistance with the strong market position Rocky Mountain Savings enjoyed in a recovering Wyoming economy. With a new senior management team in place, Rocky Mountain became Wyoming's premier community bank.

In 1994, Rocky Mountain was sold in an all-cash transaction to Metropolitan Financial Corp., a large NYSE-traded financial institution.



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Spinrite Inc.

www.spinriteyarns.com/

Management Buyout
Transition from Founder Ownership
Subsequent IPO

Press Releases
10/2015
11/2007
02/2005
02/2004


Spinrite, headquartered in Listowel, Ontario is a leading manufacturer and marketer of craft yarn products in North America.

Established in 1952, Spinrite is well known to the hobby market for its Bernat, Patons, Lily Sugar’n Cream, and Phentex brands, which are sold through mass merchants, craft stores, and independent specialty stores. Spinrite possesses the most modern and diversified craft yarn manufacturing, dyeing and finishing operation in North America and is recognized as a market leader in new product development.

Spinrite is well positioned to grow in the needlecraft category by expanding with its existing customers and making complementary acquisitions in the U.S. that can take advantage of the company's strong North American manufacturing infrastructure.

In January 2004, Sentinel Capital Partners, Spinrite's owner and CEO, and senior management acquired the company in a recapitalization transaction. Scotiabank provided senior debt and Norwest Mezzanine Partners provided subordinated debt financing. Sentinel originated, sponsored and negotiated the transaction, arranged the debt financing and provided private equity from Sentinel Capital Partners II, L.P.

In February 2005, Spinrite completed its initial public offering in a Cdn $202.9 million transaction. Spinrite continues to be well positioned to continue its growth strategy.

In November 2007, after spending the last three years as a public company, Spinrite was sold in a going private transaction to Sentinel Capital Partners III, L.P. in a transaction valued at $93.2 million.

In October 2015, having owned the business for eight more years and having achieved our investment objectives, Spinrite was sold to another private equity firm in a management buyout transaction. Under Sentinel's ownership, Spinrite completed two add-on acquisitions and established iself as the craft yarn leader. Spinrite remains well positioned to continue growing under the leadership of its enormously talented management team.



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Strategic Partners, Inc.

www.strategicpartners.net

Management Buyout
Transition from Founder Ownership

Press Releases
08/2010
04/2006


Strategic Partners, Inc., headquartered in Chatsworth, California, is a leading designer, manufacturer, and distributor of medical uniforms for the specialty retail and mass merchant channels. The business has a history of design innovation and excellent customer service.

Strategic designs, manufactures, and sells its products to independent and chain retailers of uniforms, mass merchants, and through catalog and Internet retailers. Strategic's brands include Baby Phat, Cherokee, H.Q., Med•Man, Rockers, Classroom, Cherokee Workwear, Cherokee Studio, Team Scrubs, and Tooniforms. With over 50 license agreements, Strategic is the industry’s largest licensee.

In April 2006, Sentinel Capital Partners and management invested in Strategic in a recapitalization transaction. Sentinel originated, sponsored and negotiated the transaction, and provided private equity financing from Sentinel Capital Partners III, L.P.

In August 2010, after achieving substantially all of its investment objectives, Sentinel sold Strategic Partners in a management buyout transaction. Since Sentinel's original investment, Strategic Partners' profitability has more than doubled. Today Strategic Partners has a national leadership position and is well positioned to continue growing.



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WellSpring Pharmaceutical Corporation

www.wellspringpharm.com

Management Buyout
Transition from Founder Ownership

Press Releases
10/2011


WellSpring Pharmaceutical Corporation, headquartered in Sarasota, Florida, is a manufacturer and marketer of branded OTC health and personal care products in the United States and Canada. WellSpring markets a portfolio of stable and well-recognized OTC brands focused on skin care and gastrointestinal care. WellSpring's OTC products have widespread distribution through major food, mass, and drug retailers; wholesalers; and pharmaceutical distributors.

WellSpring also provides outsourced manufacturing and packaging services for leading pharmaceutical companies from its production facility in Ontario, Canada. WellSpring’s 101,000 square foot facility has a strong audit history with the FDA and Health Canada and offers customers a breadth of product manufacturing capabilities including tablets, capsules, gels, liquids, and creams.

Sentinel partnered in the acquisition with Ancor Capital Partners, a premier independent sponsor with deep operational capabilities in the healthcare consumables and contract manufacturing sectors.