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Alemite Holdings, LP

www.alemite.com

Corporate Carveout
Operational Turnaround
Refocused Business Strategy

Press Releases
01/2006
06/2002


Alemite Corporation, headquartered in Charlotte, North Carolina, is the leading designer, manufacturer, and marketer of industrial lubrication equipment and components in North America.

Alemite is one of the most highly respected and recognizable brands in the lubrication industry. Alemite's product line includes grease guns, grease fittings, pumps and reels, and automatic lubrication devices. Alemite invented the hydraulic grease fitting in the 1920s and has been a leader in the industrial lubrication market for the past 80 years.

Alemite is well positioned to expand internationally and to make complementary acquisitions in the U.S. that can take advantage of the company's strong domestic distribution channels.

In June 2002, Sentinel Capital Partners acquired Alemite, a former subsidiary of Invensys plc, in a management buyout and corporate carveout transaction valued at $39.3 million. AmSouth Bank, a division of AmSouth Bancorporation (NYSE: ASO), provided senior debt financing for the transaction. American Capital Strategies, Ltd. (NASDAQ: ACAS) provided subordinated debt financing. Alemite's management also invested in the transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners II, L.P.

In January 2006, after achieving substantially all of its investment objectives within three-and-a-half years, Sentinel sold Alemite to Lincoln Industrial Corporation, an affiliate of Harbour Group, a private equity firm. Since Sentinel's original investment, Alemite's sales and profitability have grown by more than 25% and 50%, respectively. The investment produced an excellent return for Sentinel – approximately 4x in 3½ years, for an IRR of approximately 45%.



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Altima Dental Centres Inc.

www.altimadental.com

Management Buyout
Partnership with Founders
Subsequent Add-On Acquisitions

Press Releases
12/2016


Headquartered in Toronto, Canada, Altima Dental Centres is one of the largest dental services organizations in Canada, with a clinic network that includes offices across six provinces. Altima-affiliated practices have an excellent reputation for providing high-quality dental services and always putting patients first.

Altima is well known throughout the Canadian market for second-to-none care, top notch providers and staff, and a broad suite of convenient services. Altima Dental offers patients high quality dentistry services at competitive prices in friendly, well-appointed dental clinics. Altima's strategy is to continue to grow by adding affiliated dental offices throughout Canada.



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Border Foods, Inc.

www.tacobell.com

Corporate Carveout
Only Store / Field Operations Included
Built Management Team
Restructured Operations
Subsequent Add-On Acquisitions

Press Releases
01/2000
12/1997
09/1996


Border Foods, a Minnesota company originally organized by Sentinel Capital Partners and management, owns, operates, and franchises 170 Taco Bell, Pizza Hut and KFC restaurants in Minnesota, and has exclusive rights to develop the Taco Bell brand in that state.

In 1996, Sentinel Capital Partners orgainzed and financed Border Foods to acquire its initial 75 restaurants from Taco Bell Corporation, at the time a subsidiary of Pepsico, in a private equity transaction valued at $33 million. Taco Bell, with $6.0 billion in systemwide revenues and more than 6,800 restaurants, is the largest Mexican food Quick Service Restaurant (QSR) operation in the United States and the fourth largest QSR operation nationwide. Strucured as a franchisor, Taco Bell has a 70% share of the Mexican food QSR market, both nationwide and in Minnesota.

In December 1999, after achieving substantially all of its investment objectives, Sentinel sold its interest in Border Foods to management in a recapitalization transaction. Under Sentinel's ownership, Border Foords was transformed into a standalone business with its own management and corporate infrastructure from a regional group of stores tightly integrated into Taco Bell's existing backbone. During this period, Border Foods' sales grew by more than 40% and its profitability increased 75%. With its management as the majority owner, Border Foods is aggressively expanding its existing core Taco Bell business and its newly acquired Pizza Hut and KFC franchises.

Sentinel originated, sponsored and provided the private equity financing for the original formation of Border Foods and structured and arranged debt financing for the recapitalization. It is also the only U.S. private equity firm to have secured exclusive statewide development rights from Taco Bell. Border Foods is well positioned to acquire additional restaurants from Tricon Global Restaurants (NYSE: YUM), the current parent company of Taco Bell, Pizza Hut and KFC, which operates one of the largest worldwide QSR operations with more than 25,000 units.



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Buffets, Inc.

www.buffet.com

Take-Private Transaction
Management Buyout
Subsequent Add-On Acquisitions

Press Releases
05/2004
06/2002
10/2000


Buffets, Inc., headquartered in Eagan, Minnesota, is the largest operator of buffet-style restaurants in the U.S. with 410 restaurants operating under the HomeTown Buffet or Old Country Buffet brand names in 38 states. Buffets is positioned in the mid-scale dining segment and offers a convenient, value-priced selection of high quality food and excellent customer service. With 22% of the $4.2 billion buffet/cafeteria segment, a share nearly double that of its next largest competitor, Buffets leads a segment that has enjoyed a 17% compound annual growth rate since 1990. With innovations such as the scatter-bar system and all-inclusive pricing, Buffets' brands are synonymous with the modern buffet concept.

Buffets' formula of exceptional value, quality, service and convenience has generated consistent growth in sales and profits for the past 16 years. Management's strategic objective is to reinforce Buffets' position as the market leader in the buffet-style restaurant segment by expanding its core Old Country Buffet and HomeTown Buffet concepts.

In October 2000, Sentinel Capital Partners, together with Caxton-Iseman Capital, Inc., a New York-based private equity firm, took Buffets private in a going private transaction valued at $665 million. Lehman Brothers Inc., Fleet Securities Inc. and First Union National Bank provided senior debt financing. Credit Suisse First Boston Corp. arranged mezzanine financing. Buffets' management also invested in the transaction.



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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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Castle Dental Centers, Inc.

www.castledental.com

Debt Restructuring / Recapitalization
Operational Turnaround
Restructured Operations

Press Releases
06/2004
02/2004
05/2003


Castle Dental Centers, Inc., headquartered in Houston, Texas, develops, manages and operates integrated dental networks in Texas, Tennessee, Florida and California.

Castle Dental provides general dentistry, orthodontic and other dental specialty services through 77 dental centers with approximately 200 affiliated dentists. Castle Dental utilizes a branded, retail focused operating model in all its markets, stressing convenient, quality dentistry at affordable prices through broadcast and print advertising. Its dental centers are typically located in high traffic neighborhood retail locations with prominent signage and easy access.

Castle Dental is well positioned to expand in its existing markets and to make complementary acquisitions in the U.S. that can take advantage of the company's strong domestic infrastructure.

In May 2003, Sentinel Capital Partners and management recapitalized Castle Dental in a private equity transaction valued at $66.2 million. GE Healthcare Services, Castle Dental's existing senior lender, provided debt financing for the recapitalization. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners II, L.P.

In June 2004, after achieving substantially all of its investment objectives, Sentinel merged Castle Dental with with Bright Now! Dental, Inc. of Santa Ana, CA. The investment yielded more than 2.2x during Sentinel's one year holding period.



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Chase Doors, Inc.

www.chasedoors.com/

Management Buyout

Press Releases
09/2014
12/2010


Chase Doors, headquartered in Cincinnati, Ohio, is the the global leader and most recognized manufacturer of high-quality, made-to-order specialty door systems.

Founded in 1932, Chase Doors offers of a broad spectrum of specialty door systems employed in a variety of industrial and commercial settings including corrosion resistant doors used for hazardous material handling; cold storage doors used in walk-in freezers and refrigerators; double impact traffic doors used in supermarkets and restaurants; and strip and roll-up doors used in warehouses.

Using its vertically integrated North American based door manufacturing capabilities, Chase Doors offers superior design and engineering processes which enhance the functionality, durability, and life of its products. With revenues evenly distributed across new construction, remodeling and replacement, and maintenance, Chase Doors serves a wide array of end markets, including retail, industrial, pharmaceutical, food processing, distribution, postal and institutional.

As one of the oldest and largest suppliers of double-acting impact traffic doors, Chase Doors began as an insulated walk-in cooler and specialty refrigeration equipment manufacturer. Since then, Chase Doors has expanded its line to include impact traffic doors, service doors, flexible doors, strip doors, postal and security doors, corrosion resistant doors, and sliding fire and sliding service doors. Chase Doors pioneered the original flexible AirGard™ door with its unique top-mounted-only gravity hinging system, which still serves food processing, industrial manufacturing, and retail stores. Chase Doors manufactures other leading brands in the specialty door market, including Durulite®, Saino™, Proline™, Chase™, Econo Max™ ColdGuard™, DuraShield™ and FibRDor™.

In September 2014, after achieving substantially all of our investment objectives, Chase Doors was sold to another private equity firm. Since Sentinel's original investment, Chase Doors made two add-on acquisitions, more than doubled its revenues, and more than tripled its profitability. Chase Doors remains well positioned to continue growing under the leadership of its outstanding management team.



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Checkers Drive-In Restaurants, Inc.

www.checkers.com

Management Buyout

Press Releases
03/2014


Checkers Drive-In Restaurants, headquartered in Tampa, Florida, is a franchisor and operator of Checkers® and Rally's® restaurants. With a more than 40-year history, the Checkers system consists of 450 franchised and 332 company-owned locations with established strongholds in the Southeast, Mid-Atlantic, and Midwest. Checkers is the largest QSR operator of dual drive-through restaurants and differentiates itself through its craveable food and exceptional value. Checkers/Rally’s operates within the $65 billion hamburger QSR market and has achieved steady growth since 2001.

Checkers is known for providing guests with fresh and irresistibly good food and for its signature buildings and trade dress that evoke timeless American imagery. Checkers provides a differentiated menu with robust flavors, delivered to consumers at an exceptional value. The Checkers system generates more than $700 million in annual system-wide sales.



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Chromalox, Inc.

www.chromalox.com

Management Buyout

Press Releases
12/2012
03/2011


Chromalox, Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global branded manufacturer of commercial and industrial electric heating products and solutions.

Chromalox is a pioneer in precision heat technology. Over its 90-year history, Chromalox has produced the world’s broadest line of electric heat and control products, including heating components, immersion heaters, circulation systems, heat transfer systems, boilers, industrial and comfort air heating, heat trace cables, sensors and precision electronic controls. With a library of 700,000 product designs, Chromalox has the broadest product portfolio in the industry. A one-stop supplier for heating applications, Chromalox serves a diverse base of more than 60,000 registered customers, including distributors, end users, OEMs, catalog houses, and system integrators.

Customers rely on Chromalox for high quality, innovative solutions for commercial and industrial heating applications. With multiple manufacturing, engineering, warehousing and sales locations in North America, Europe and Asia, Chromalox is a leading global supplier providing the highest level of customer support.

In December 2012, after achieving substantially all of our investment objectives, Chomalox was sold to another private equity firm. Since Sentinel's original investment, Chromalox's organic growth was susbstantial and its profits almost doubled. Chromalox remains well positioned to continue growing under the leadership of its superb management team.



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Colson Group

www.colsongroup.com

Management Buyout
Transition from Family Ownership

Press Releases
04/2012


Headquartered in Chicago, Illinois, Colson Group is the market leader in the design, manufacture, and distribution of casters, wheels, and related hardware products. Colson maintains the premier position worldwide in caster technology. Colson’s products comprise a wide range of casters and wheels, including light duty, medium duty, heavy duty and super heavy duty used in industrial, commercial and institutional applications. Colson’s manufacturing and distribution infrastructure is the broadest in the industry, with 35 facilities located in 15 countries. Colson’s branded product portfolio is recognized as the highest quality in the market, which is critical for end users for whom the cost of failure is high.

Sentinel acquired Colson from Pritzker family trusts. Jay and Bob Pritzker orignially acquired Colson in 1953. Under the Pritzkers, Colson became the worldwide leader in caster technology and today offers its customers the most complete line of industrial casters. Through its Shepherd Hardware subsidiary, Colson also offers cutting edge mobility solutions for the retail consumer market.



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Corporate Visions, Inc.

www.corporatevisions.com

Management buyout

Press Releases
05/2015


Corporate Visions is a leading provider of training products and services to improve sales force productivity. Based in Larkspur, California, Corporate Visions is a thought leader and innovator in the marketing and sales enablement industry.

Corporate Visions develops and applies research from decision sciences to help its Fortune 1000 global B2B clients win more business and increase profitability. Its blue-chip clients include ADP, Cisco, Motorola, UPS, and DuPont.



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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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Credit Infonet Group, Inc.

www.cingroup.com

Management buyout

Press Releases


Credit Infonet Group, Inc., headquartered in Dayton, Ohio, provides consumer bankruptcy attorneys with the most comprehensive single-source offering of Bankruptcy Abuse Prevention and Consumer Protection Act ("BAPCPA") compliant due diligence products and information services available in the market.

CIN provides due diligence products and consumer credit data to more than 10,000 law firms nationally. CIN pioneered and developed the technology platform and product offerings to streamline attorney workflow and satisfy BAPCPA due diligence investigation requirements. CIN offers the industry-leading Consumer Liability Report that imports liability data directly into leading forms preparation software packages via partner interfaces and offers the industry's first post-bankruptcy predictive credit score. CIN also offers IRS tax transcripts, real property valuations, title information, automobile valuations, and a gateway to approved credit counseling and debtor education courses.

CIN's innovative and affordable products promote increased accuracy, create process efficiencies, and streamline workflow management in the practices of thousands of bankruptcy attorneys nationwide.



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Critical Solutions International, Inc.

www.c-s-i.com

Recapitalization

Press Releases
02/2011


Critical Solutions International, Inc., headquartered in Dallas, Texas, is the leading global supplier of landmine and improvised explosive device detection vehicles, systems and support services to U.S. and foreign military forces. Sentinel partnered in the transaction with CSI’s founders, Tennessee Valley Ventures, and senior management.

Founded in 1999, CSI has been an important resource to the U.S. Army, U.S. Marines, and the Canadian Armed Forces for testing, developing and supplying landmine detection vehicles and systems. CSI’s primary product, the Vehicle Mounted Mine Detection system, nicknamed the Husky, is a unique, life-saving, combat-proven vehicle that is blast-survivable, field-reparable, four-wheel steerable, and highly effective at detecting all forms of land-based explosive devices. Today the Husky is a Program of Record with a DX Rating—the highest possible rating granted by the U.S. armed forces.

CSI's vehicle systems are designed to enhance the military’s mobility by detecting improvised explosive devices and landmines in harsh combat conditions. Its systems also mark and detonate landmines and IEDs during route clearance operations ahead of military convoys. CSI's systems are not only safe to operate, but also save lives and prevent catastrophic injuries to service personnel in combat settings.



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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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Engineered Controls International, LLC

www.regoproducts.com

Management Buyout
Transition from Family Ownership

Press Releases
12/2013
08/2010


Engineered Controls International, Inc., headquartered in in Elon, North Carolina, is the global leader in manufacturing specialized pressure regulators, valves and other control equipment for use with liquefied and compressed gases. Over its more than 100-year history, ECI has established a global leadership position serving a diversified international base of approximately 550 customers in more than 100 countries including propane and cryogenic gas equipment distributors and leading gas storage tank OEMs. ECI’s premium, branded products are recognized as the highest quality in the market, which is critical for millions of end users who rely upon its equipment to ensure the safe transportation and use of potentially hazardous gases.

In August 2010, Sentinel Capital Partners and management invested in ECI in a management buyout transaction. Sentinel originated, sponsored and negotiated the transaction, and provided private equity financing from Sentinel Capital Partners III, L.P. and Sentinel Capital Partners IV, L.P.

In December 2013, after achieving substantially all of our investment objectives, ECI was sold to another private equity firm. Since Sentinel's original investment, ECI's organic growth was substantial and its profits almost doubled. ECI remains well positioned to continue growing under the leadership of its outstanding management team.

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Engineered Controls International, LLC

www.regoproducts.com

Management Buyout
Transition from Family Ownership

Press Releases
12/2013
08/2010


Engineered Controls International, Inc., headquartered in in Elon, North Carolina, is the global leader in manufacturing specialized pressure regulators, valves and other control equipment for use with liquefied and compressed gases. Over its more than 100-year history, ECI has established a global leadership position serving a diversified international base of approximately 550 customers in more than 100 countries including propane and cryogenic gas equipment distributors and leading gas storage tank OEMs. ECI’s premium, branded products are recognized as the highest quality in the market, which is critical for millions of end users who rely upon its equipment to ensure the safe transportation and use of potentially hazardous gases.

In August 2010, Sentinel Capital Partners and management invested in ECI in a management buyout transaction. Sentinel originated, sponsored and negotiated the transaction, and provided private equity financing from Sentinel Capital Partners III, L.P. and Sentinel Capital Partners IV, L.P.

In December 2013, after achieving substantially all of our investment objectives, ECI was sold to another private equity firm. Since Sentinel's original investment, ECI's organic growth was substantial and its profits almost doubled. ECI remains well positioned to continue growing under the leadership of its outstanding management team.



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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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Falcon Holdings, LLC

www.falconholdings.com

Debt Restructuring / Recapitalization
Operational Turnaround

Press Releases
05/2005
12/1999


Falcon Holdings, headquartered in Chicago, Illinois, owns, operates, and franchises 97 Church's® Chicken Restaurants in Chicago, St. Louis, Detroit, Indianapolis, Cleveland, Dayton, Richmond, and Columbus, making it the largest franchisee in the worldwide Church's system. Falcon has also secured exclusive rights to develop the Church's brand in Indianapolis and Richmond, and is well positioned to build and acquire additional restaurants within the fragmented Church's system.

With more than $800 million in system-wide revenues and 1,400 restaurants worldwide, Church's is the second largest chicken quick service restaurant chain in the United States. Established more than 45 years ago and structured as a franchisor, Church's specializes in southern-style chicken and follows a model based on focused menu selection, value pricing and an emphasis on take-out.

Church's Chicken was formerly a wholly owned subsidiary of AFC Enterprises, which franchised the Church's concept and also owned and operated Church's restaurants. AFC Enterprises was one of the world's largest operators and franchisors of restaurants, bakeries and cafes with more than 3,500 restaurants in 27 countries. In addition to Church's Chicken, AFC also owned Seattle Coffee Company®, with its Seattle's Best Coffee® and Torrefazione Italita® brands, Popeyes Chicken & Biscuits®, and Cinnabon® World Famous Cinnamon Rolls.

In November 1999, Falcon was organized by Sentinel Capital Partners and management to acquire the 97 Church's restaurants from Atlanta Franchise Development Corporation in an operational turnaround and restructuring transaction valued at $35 million. Sentinel sponsored the transaction, secured the debt financing, and provided the private equity.

In May 2005, after achieving substantially all of its investment objectives, Sentinel sold Falcon to its management team. Under Sentinel's ownership, Falcon was transformed into a standalone business with its own management and corporate infrastructure from a regional group of stores operated remotely from Atlanta, the headquarters location of franchisor Church's Chicken. During our five-year ownership, Falcon's sales grew substantially and its profits more than tripled.



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Fasloc, Inc.

www.faslocinc.com

Corporate Carveout
Management Buyout

Press Releases
01/2007
10/2005


Fasloc, Inc., headquartered in Martinsburg, West Virginia, is a leading manufacturer of specialized underground mine roof support systems. Fasloc's products utilize resin cartridges to create strong and reliable roof bolting systems.

Established in 1975, Fasloc manufactures polyester resin cartridges, under the Fasloc® and Cableloc® brands, that permanently secure roof support bolts used in mines to create stable and secure roofs, particularly in underground coal mines in the Eastern United States. The business has a history of innovation related to manufacturing, products and applications. The Fasloc name is a highly regarded brand in the coal mining industry.

Fasloc is well positioned to continue to expand in its existing markets. At the time of our investment, industry forecasts indicated that the coal mining business was expected to continue growing and that demand for roof bolt resins would mirror that trend. Also the company's Fasloc® and Cableloc® brands are premium products with superior technology elements and a history of product innovation. Fasloc's seasoned management has a proven track record of building value over a long period of time.

In October 2005, Sentinel Capital Partners and management acquired Fasloc in a buyout and carveout transaction from E.I. du Pont Nemours and Company (NYSE: DD). Bank of New York and Bank of Ireland provided senior debt financing for the transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided equity financing from Sentinel Capital Partners III, L.P.

In February 2007, after achieving substantially all of its investment objectives, Sentinel sold Fasloc to DSI USA , an affiliate of Germany-based DYWIDAG-Systems International. Since Sentinel's original investment, Fasloc's profitability has grown by more than 60%.



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Fazoli's Group Inc.

www.fazolis.com

Management buyout

Press Releases
07/2015


Fazoli's Group, Inc. is a franchisor and operator of Italian fast casual restaurants in the United States and is well positioned to accelerate its growth in the rapidly expanding fast casual segment of the restaurant industry.

Founded in 1988 and headquartered in Lexington, Kentucky, Fazoli's is the leading Italian fast casual dining concept that offers moderately priced, freshly-prepared pasta entrees, sandwiches, pizza and salads in a convenient, friendly environment. Fazoli's blends the low price point and speed of a quick service restaurant with the quality, atmosphere and service traditionally found in the casual dining segment. With strong brand awareness and a loyal customer base, Fazoli's was named the 2013 Fast Casual Brand of the Year and Franchise Business Review's "Top 40 Food Franchises" in 2015.



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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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Hospice Advantage Holdings, LLC

www.hospiceadvantage.net/

Friendly Recapitalization
Partnership with Founder

Press Releases
10/2015
12/2012


Hospice Advantage, headquartered in Bay City, Michigan, is a leading hospice care organization that provides end-of-life care, palliative treatment, personal care, and family support services, primarily to patients in their homes. Hospice Advantage was founded to better serve the needs of terminally ill patients and currently operates in 56 locations in 10 states throughout the Midwest, Southeast and South.

With the graying of America, hospice care has become an important and growing component of healthcare in the United States. Hospice Advantage has built a strong brand name and referral network complemented by a scalable back office operation that includes compliance and quality assurance, billing, human resources, facility development, and information technology. This infrastructure will support further growth in the Midwest and South, both organically and via acquisition.

In October 2015, having achieved our investment objectives, Hospice Advantage was sold to strategic buyer Compassus. Since Sentinel's original investment, Hospice Advantage grew organically and through acquisitions, with operations in more than 60 locations in 14 states throughout the Midwest, Southeast, and South. During our ownership, Hospice Advantage completed 15 tuck-in acquisitions and opened locations in four new states. Hospice Advantage remains well positioned to continue growing under the leadership of its outstanding management team.



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Huddle House, Inc.

www.huddlehouse.com

Management Buyout

Press Releases
03/2012


Huddle House, headquartered in Atlanta, Georgia, is a leading franchisor of family dining restaurants serving southeastern communities. With its nearly 50-year history, Huddle House is one of the oldest franchise systems in the country. Huddle House was founded by John Sparks, who had opened a few restaurants under various names. John needed a great name for his new restaurant chain. One evening in Decatur, Georgia, he saw a boy meeting friends after football practice holding his helmet in one hand and a football in the other. It looked as if the group were "huddled up" talking and laughing together. It was at that moment he decided that Huddle House was the perfect name for the restaurant chain and it would be the place where folks would gather, or "huddle up," for great food and good times after Friday night football games.

Huddle House focuses on serving quality food in warm, friendly environments that bring communities together. Huddle House offers customers “Any Meal. Any Time.” with a broad menu of high-quality, cooked-to-order food, and 24-hour service, and serves breakfast, lunch and dinner all day. Huddle House has more than 375 franchised units and 17 company-owned units in the Southeast that generate more than $225 million in annual system-wide sales.



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IEP Technologies, LLC

www.ieptechnologies.com

Corporate Carveout
Management Buyout

Press Releases
09/2015
07/2013


IEP Technologies, LLC, headquartered in the greater Boston area, provides systems and services that detect, suppress, isolate and/or vent potential combustible dust or vapor explosions in process industries. IEP Technologies provides best-in-class explosion protection systems, design engineering, replacement parts, material testing, and service and support to its global customer base.

IEP Technologies' platforms include sophisticated computer calculation tools, and have been subjected to thousands of full-scale explosion tests spanning five decades of field experience. IEP Technologies will continue to lead the industry in research and development and make investments in new product technologies and existing product innovations and is well positioned to build collaboratively on the significant collective, global strengths of its existing system design platforms.

IEP Technologies is the global leader in the explosion protection industry, with operations in North America and Europe. IEP Technologies serves customers across North and South America, Western and Eastern Europe, and has a growing presence in the Indian subcontinent and the rest of Asia. IEP Technologies offers the industry's leading array of industrial explosion systems, design engineering, replacement parts, material testing, and service and support to its customer bases around the world.

In September 2015, after achieving substantially all of our investment objectives, IEP was sold to strategic buyer HOERBIGER Group. At the time of our original investment, IEP consisted of five separate companies operating under three different brands in five countries, each with separate management teams and IT infrastructures. Today, IEP operates under one global brand with fully integrated management and IT systems. Moreover, during this period, IEP also grew its sales and profitability. IEP remains well positioned to continue growing under the leadership of its outstanding management team and new owners.



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Inscape Publishing, Inc.

www.inscapepublishing.com

Management Buyout

Press Releases
02/2012
08/2007


Inscape Publishing, Inc., headquartered in Minneapolis, Minnesota, is a leading developer and provider of content-rich, technology-enabled corporate training solutions that develop employee interpersonal skills such as sales, leadership, teamwork, communications and time management.

Inscape focuses on the $13 billion+ corporate and government training industry, which is experiencing considerable growth. With a global network of over 2,000 consultancies, Inscape provides employee assessment and development applications to over 135 Fortune 500 companies and several agencies of the federal government. Since 1972, Inscape’s learning tools have been used by over 45 million individuals in 24 languages and 22 countries.

Inscape is a pioneer in developing products and services that address the growing importance of human capital as a competitive advantage. With corporations increasing their commitment to employee development and training, Inscape is well positioned to benefit from market growth.

Sentinel Capital Partners and management acquired Inscape in a management buyout transaction. NewStar Financial and Madison Capital Funding provided senior debt for the transaction, and New Canaan Funding provided subordinated debt financing. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P.

In February 2012, after achieving substantially all of its investment objectives in four years, Inscape was sold to John Wiley & Sons, Inc. (NYSE:JWa, JWb) in a transaction valued at $85 million. Since Sentinel's original investment, Inscape grew by more than 30% and is well positioned to continue growing following the deep recession of 2008–2009.



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Interim Healthcare Holdings, Inc.

www.interimhealthcare.com

Recapitalization
Restructured Operations
Refocused Business Strategy

Press Releases
10/2012
05/2006


Interim Healthcare Holdings, Inc., headquartered in Sunrise, Florida, is the nation's largest provider of home healthcare and supplemental healthcare staffing services. Interim is the nation's oldest and best established healthcare franchise organization with an average owner tenure in excess of 23 years, more than 300 service locations in 39 states and Puerto Rico, more than $620 million in systemwide sales, and a committed workforce of 75,000 employees.

Structured as a franchisor, Interim operates two complementary businesses serving the healthcare market. Interim’s core business provides home healthcare services, including skilled medical care delivered by nurses, therapists and other specialized caregivers, and non-medical support services provided by home health aides, personal care aides, companions and homemakers. Interim’s second business provides supplemental staffing for healthcare facilities and other businesses. Supplemental staffing places nurses, therapists and other healthcare personnel in facilities and businesses for short-term assignments or as direct hires.

With more than 40 years of continuous operation, Interim has proven experience in the healthcare sector and with franchise organizations, both as franchisee and as franchisor. With the greying of America fueling growth in the healthcare sector, industry experts expect home healthcare to grow significantly in the next several years. With a well-established business model, strong management team and loyal franchisees and employees, Interim is well positioned to capitalize on this trend.

In May 2006, Sentinel Capital Partners and management invested in Interim in a buyout transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P.

In October 2012, after owning the business for more than six years and achieving substantially all of our investment objectives, Interim Healthcare was sold to another private equity firm. Under Sentinel's ownership, Interim underwent an operational transformation from a franchisor and direct provider of healthcare services into a "pure-play" healthcare franchisor. As part of the transformation, Interim refranchised all of its company-owned home healthcare locations, exited non-core healthcare businesses, and focused its efforts on recruiting new franchise owners to its network. Interim Healthcare remains well positioned to continue growing under the leadership of its superb management team.



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LTI Boyd, Inc.

www.ltiflex.com

Recapitalization
Restructured Operations
Refocused Business Strategy
Subsequent Add-On Acquisitions

Press Releases
07/2012
07/2011
04/2006


LTI Boyd, headquartered in Modesto, California, is the leading global designer, manufacturer, and distributor of engineered, high-performance components for market leading original equipment manufacturers. LTI Boyd manufactures extruded, die-cut, and molded flexible rubber and plastic components and sealing systems used in wide variety of industries including commercial and recreational vehicles, aerospace platforms, agricultural and construction equipment, medical devices, filtration equipment, electronics, and industrial applications.

LTI Boyd's design expertise, material knowledge, global manufacturing footprint, and superior execution position it as a strong partner for its OEM customers. LTI Boyd is the market leader in a large and growing market that is highly fragmented, with significant opportunities for growth both organically and through acquisition.

In April 2006, Sentinel Capital Partners and management acquired LTI Flexible Products in a management buyout. Sentinel sponsored the transaction and provided equity financing from Sentinel Capital Partners III, L.P.

In October 2006, LTI acquired Nott-Atwater Company, a leading manufacturer of custom and specialized industrial gaskets for the heavy truck, HVAC, and recreational vehicle industries.

In April 2009, LTI acquired Derby Cellular Products, a manufacturer of extruded rubber gaskets and seals for the filtration, commercial vehicle, window, and recreational vehicle industries.

In July 2011, LTI acquired Boyd Corporation, a leading designer and manufacturer of mission-critical sealing and energy management solutions for blue-chip OEMs serving the electronics, heavy truck, aerospace, and medical device markets. This highly complementary acquisition significantly increased the size and scale of LTI and created the leading global provider of custom-fabricated gaskets and sealing systems.

In July 2012, after achieving substantially all of our investment objectives in six years, LTI Boyd was sold to another private equity firm. Since Sentinel's original investment, LTI Boyd grew by almost fivefold, organically and via three acquisitions, and its EBITDA increased almost fourfold. LTI Boyd remains well positioned to continue growing following the deep recession of 2008–2009.



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Luminaires Group

www.theluminairesgroup.com

Transition from Founder Ownership

Press Releases
06/2016


The Luminaires Group ("TLG"), founded in 1987 with hubs in Montreal, Canada and Oceanside, California, is a leading North American manufacturer of specification-grade and architectural lighting fixtures. TLG designs, develops, manufactures, and distributes specification-grade lighting products across North America via three niche brands, each with its own focus. Eureka concentrates on indoor and outdoor decorative lighting; Amerillum focuses on indoor and outdoor architectural lighting; and Cyclone specializes in outdoor area lighting. TLG serves commercial, institutional, hospitality, and municipal end markets and offers a wide range of contemporary lighting fixtures for interior and exterior use. TLG has received many industry awards for its innovative lighting designs and product excellence, including several prestigious Reddot Awards

TLG is a leading lighting platform with strong development and design capabilities and a record of innovation. TLG enjoys an impressive breadth of award-winning products and benefits from longstanding sales relationships and distribution channels in North America. Operating in a highly-fragmented market, TLG is a leader in best practices and operational excellence.

In June 2016, Sentinel Capital Partners recapitalized TLG, whose management also invested in the transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners V, L.P.



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Madill Inc.

www.madillequipment.com

Management Buyout

Press Releases
06/2005


Madill Inc., headquartered in Nanaimo, British Columbia, is leading manufacturer, marketer and distributor of forestry and logging equipment primarily serving the North American market.

Founded in 1911, Madill has grown over the past decade as the result of strategic acquisitions and organic growth. Madill manufactures technologically superior mechanical harvesting and other logging equipment at its facilities in British Columbia and Washington State and has sales and distribution offices in the northwest U.S. and western Canada. Madill's products are designed exclusively for the needs of the forestry industry and are purpose-built to withstand both extreme terrain and weather conditions. The Madill name is a highly regarded brand in the logging industry.

Madill's seasoned management has a proven track record of building value for its investors and management partners over a long period of time.

In June 2005, Sentinel Capital Partners and management acquired Madill in a buyout transaction. GE Commercial Finance and Bank of Montreal provided senior debt financing for the transaction, and McKenna Gale provided subordinated debt. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P.



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Marketplace Events LLC

www.marketplaceevents.com

Management buyout

Press Releases
01/2016


Marketplace Events, headquartered in Solon, Ohio, organizes and operates consumer shows targeting the home improvement and enthusiast market including remodeling, home decor, and gardening. Marketplace has the largest portfolio of home and garden shows across the U.S. and Canada. Leveraging scale, technology, and predictability, Marketplace Events brings together 14,000 exhibitors, 1.5 million consumers, and 1.5 million unique web visitors on an annual basis.

Marketplace Events creates vibrant expositions connecting enthusiasts with experts, products, and services in dynamic face-to-face environments. Marketplace Events produces some of the most successful and longest-running shows in North America, including market-leading home shows in Montreal, Vancouver, Calgary, Minneapolis, Philadelphia, and Washington, D.C. – several of which have thrived in their markets for more than 75 years. Marketplace Events is the clear leader in the North American home and garden show industry.



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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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Met Displays, Inc.

Management Buyout
ESOP
Transition from Family Ownership
Subsequent Add-On Acquisitions

Press Releases
06/1999
09/1998
12/1997


Met Merchandising Concepts, located in Chicago, Illinois, designs and manufactures high-quality fixtures, forms, and displays for upscale retail stores. Met has established a leading position in the visual merchandising industry and serves a diverse group of prominent department store, specialty store, and branded consumer product companies operating vendor shops within retail stores. During the past several years, retailers and branded consumer companies have increasingly developed consistent identities to market and differentiate their products.

The development and acceptance of the store-within-a-store or vendor-shop concept have caused department stores to evolve into a series of separate brand environments, with vendors heavily influencing the visual presentation of their merchandise. These changes have also led department stores to outsource more of the in-store design function to visual display companies such as Met. The company's leading-edge design and product development expertise combined with its manufacturing, delivery and installation capabilities allow Met to offer one-stop solutions to its customers.

In 1997, Sentinel Capital Partners originated, sponsored, and, together with management, provided the private equity financing in a recapitalization of Met Merchandising valued at $25 million.

In June 1999, Sentinel and management sold Met to Leggett & Platt, Incorporated (NYSE:LEG). With sales and net income in excess of $3.5 billion and $250 million, respectively, Leggett is a leading manufacturer of component and finished products for the furniture industry. Leggett is actively pursuing acquisitions in the fixture and display industry. Met represents an attractive strategic fit for Leggett and gives Leggett access to upscale customers such as Saks Fifth Avenue, Macy's, Ralph Lauren, Tommy Hilfiger, Levi's, Timberland and Liz Claiborne. Sentinel and management decided to sell Met after only eighteen months because substantially all of the investment's original objectives had been achieved.



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Metro Dentalcare, Inc.

www.metro-dentalcare.com

Management Buyout
Transition from Founder Ownership
Subsequent Add-On Acquisitions

Press Releases
09/2007
05/2005


Metro Dentalcare, headquartered in Richfield, Minnesota, is a leading regional dental clinic operator in the Minneapolis/St. Paul Twin Cities area.

Metro Dentalcare operates 23 clinics offering general, orthodontic and specialty dental care and employs more than 500 doctors, hygienists and dental assistants. Metro Dentalcare provides a range of state-of-the-art preventive, restorative, pediatric and cosmetic dental services to more than 125,000 patients annually. Metro Dentalcare’s strong brand name and reputation for the highest quality of dentistry has made the company a preferred service provider for many of the largest employers in the region.

Metro Dentalcare is well positioned to continue to expand in its existing markets via acquisitions and openings of de novo centers. Dental industry growth is being driven by an aging population that desires to keep its teeth longer, by new technologies that make dental care more cost effective and less painful, by advances in and increased demand for cosmetic dentistry and by the increasing prevalence of dental benefits offered by employers. Compared to national averages, the Twin Cities area has above average population growth, favorable demographic trends and relatively high median income levels.

In May 2005, Sentinel Capital Partners and management acquired Metro Dentalcare in a buyout transaction. M&I Bank provided senior debt financing for the transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P.

In September 2007, after achieving substantially all of its investment objectives, Sentinel sold Metro Dentalcare to American Dental Partners, Inc. (NASDAQ: ADPI) generating a return of five times its money. Since Sentinel's original investment, Metro Dentalcare's profitability has more than doubled. With 35 clinics in the Twin Cities, Metro Dentalcare is well positioned to continue growing.



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MidWest Wholesale Hardware Co.

www.midwestwholesale.com

Management Buyout

Press Releases
02/2007


Mid-West Wholesale Hardware Co., headquartered in Kansas City Missouri, is a leading, full-service wholesaler and distributor of architecturally specified commercial door hardware, including manual and electronic locks, exit devices, door closers and related specialty items.

Founded in 1980, Mid-West carries the broadest line of commercial door hardware in the industry, including products from more than 40 of the world’s leading manufacturers, such as Schlage, Yale, Corbin Russwin and Von Duprin. Mid-West is the only contract hardware wholesaler in the U.S. that represents both of the world’s leading door hardware manufacturers, ASSA ABLOY and Ingersoll-Rand. Based in Kansas City Missouri, Mid-West serves over 4,300 active customers, primarily commercial hardware distributors, throughout the U.S. Through these strategically located facilities, the company can reach 84% of the U.S. population in two business days or less.

Widely recognized as a pioneer in the wholesale distribution segment, Mid-West is well positioned to continue growing its business by adding new product lines, building out sales and customer development functions, increasing its geographic footprint and network density, pursuing e-commerce initiatives and selectively doing add-on acquisitions.

Sentinel Capital Partners and management acquired Mid-West from BancBoston in a buyout transaction. M&I Bank provided senior debt for the transaction, and Bank of New York provided subordinated debt financing. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P. Mid-West was sold to a financial buyer in August 2014.



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Mobile Dentists

www.mobiledentists.com

Management Buyout
Transition from Founder Ownership
Subsequent Add-On Acquisitions

Press Releases


ReachOut Healthcare America, based in Phoenix, AZ, ReachOut provides mobile dental services to under-served children in schools and foster programs, to the aged and disabled in residential facilities, and to US Army and National Guard units throughout the country. ReachOut provides dental service to nearly 80,000 children and 30,000 armed-services personnel each year. ReachOut offers a complete array of diagnostic, preventative, restorative, prosthodontic, and periodontal dental services.

ReachOut is the leader in a large and growing market that is significantly underserved, and its mobile model is scalable into numerous end-markets such as the military and nursing homes.

In November 2007, Sentinel Capital Partners and management acquired ReachOut in a management buyout transaction. Marshall & Ilsley Bank provided debt financing for the transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P.

In August 2008, ReachOut acquired Mobile Dentists, its largest competitor, creating a company that is the nation’s leader in mobile dental services. The combined company operates in 21 states and provided dental care to more than 250,000 low-income children in 2008. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided equity financing from Sentinel Capital Partners III, L.P.

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



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National Spine & Pain Centers, LLC

www.treatingpain.com/mspm

Management Buyout
Transition from Founder Ownership

Press Releases
03/2012
09/2011


National Spine & Pain Centers, LLC, headquartered in Rockville, Maryland, is a provider of interventional pain management services focused on relieving chronic back and neck pain. Interventional pain management is a rapidly growing medical specialty whose objective is to relieve pain through advanced, minimally invasive procedures while preventing costly, invasive surgery. National Spine & Pain Centers offers medical treatment through affiliated physicians. Such treatment provides both immediate and long-lasting pain relief and enables patients and payors to avoid more costly and invasive surgical procedures from which recovery time can be lengthy. National Spine & Pain Centers provides administrative and management services to physicians who are dedicated to providing high quality patient care in outpatient ambulatory surgical center settings. Affiliated physicians are fellowship-trained and board-certified/board-eligible pain specialists and many are nationally recognized leaders in pain management.

National Spine & Pain Centers' conservative care model addresses chronic pain through multiple treatment modalities, including minimally invasive outpatient procedures, pharmacological management, and other complementary support services.

In March 2012, National Spine & Pain Centers acquired Capitol Spine & Pain Centers, the largest interventional pain management group in Virginia. In December 2012, National Spine & Pain Centers acquired New York Pain Consultants, a leading interventional pain management group in New York. With 30 clinics operating in Maryland, Virginia, the District of Columbia, and New York, the combined company’s affiliated physician practices treated more than 160,000 patients in 2012, making it the nation’s leading provider of interventional pain management procedures focused on relieving back and neck pain.



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Newk's Eatery

www.newks.com

Management buyout

Press Releases
03/2014


Newk's Eatery, headquartered in Jackson, Mississipi, is a franchisor and operator of fast casual restaurants. Newk's is a rapidly growing market leader in the fast casual restaurant segment throughout the Southeast and is well positioned to accelerate its growth in the rapidly expanding fast casual segment of the restaurant industry.

Newk's began in 2004 as a sandwich shop in Oxford, Mississippi and has grown into one of the fastest growing franchisors of fast casual restaurants. Newk's offers a diverse menu of high quality, made-from-scratch sandwiches, soups, salads, and pizzas.



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Nivel Holdings LLC

www.nivelparts.com

Management Buyout
Transition from Family Ownership
Subsequent Add-On Acquisitions

Press Releases
10/2007
05/2006
02/2004


Nivel Holdings LLC, headquartered in Jacksonville, Florida, is a leading independent distributor of aftermarket golf car replacement parts and accessories.

Nivel supplies over 2,000 golf car part SKUs, including battery parts, bearings, brake parts, chargers, body accessories, motor parts and related replacement parts for all makes and models including Club Car, E-Z-Go and Yamaha. Nivel is recognized for its leading product catalog which is distributed to 1,800 dealers worldwide. Nivel also publishes Golf Car News, a bimonthly magazine targeted at golf car dealers and related service providers, and The Cart Trader, a classified newsletter for buyers and sellers of used golf cars.

Nivel is well positioned to expand in its existing markets and to make complementary acquisitions in the U.S. The demand for golf car replacement parts is expected to continue to grow as more players enter the game of golf and new courses are constructed. Also, since a large portion of the market for golf cars is for non-golf uses such as planned communities, industrial environments and off-road transportation, Nivel's market has attractive growth prospects.

In February 2004, Sentinel Capital Partners and management acquired Nivel in a management buyout transaction valued at $26.5 million. American Capital Strategies provided debt financing for the recapitalization and also became a minority co-investor. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners II, L.P.

By October 2007, Nivel had made two add-on acquisitions and had positioned itself to serve customers on a national basis. Having achieved substantially all of its investment objectives, Sentinel sold Nivel to Audax Group generating an attractive return during our 3½ year hold period. Since Sentinel's original investment, Nivel's sales and profitability have more than doubled. Today Nivel has a national distribution footprint, and is well positioned to continue growing.



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NorSun Food Group

www.norsun.com

Management Buyout
Transition from Founder Ownership

Press Releases
11/1999


NorSun Food Group, headquartered in Cincinnati, Ohio, is a leading supplier and manufacturer of specialty food ingredients to large packaged food companies and restaurant chains. NorSun has created and maintained a leading share of the industrial Individually Quick Frozen ("IQF") roasted and whole baked potato market and has grown rapidly over the past several years. Customers such as Nestle, ConAgra, Pillsbury and Campbell Soup use NorSun's ingredients in frozen entrees or soups. NorSun also develops proprietary, customized flavors and processes for its customers. The company owns specialty processing plants in Fort Kent, Maine, and Rexburg, Idaho.

NorSun's growth is being driven by expansion of the Home Meal Replacement category; increased outsourcing by large branded food companies; the introduction and early acceptance of NorSun's specialized food ingredients in restaurant and supermarket channels; healthy eating trends (NorSun's products are fat-free); and growth in the roasted/flame-broiled vegetable category.

In 1999, Sentinel Capital Partners and management acquired NorSun in a management buyout transaction valued at $43 million. Sentinel sponsored the acquisition, arranged the debt and provided private equity financing.

In December 2005, after having owned the company for six years, Sentinel sold NorSun to Dickinson Frozen Foods, Inc., a leading provider of individually quick frozen onions and peppers to large industrial food processors and food service companies.



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North American Rescue, LLC

www.narescue.com

Recapitalization

Press Releases
10/2009


North American Rescue, headquartered in Greer, South Carolina, is the leading developer and distributer of tactical emergency medical equipment to the U.S. military, law enforcement and other organizations that employ trauma care professionals. NAR has enjoyed the honor of serving its country, community, and customers by providing innovative casualty care solutions at home and abroad. NAR is leading the effort to decrease preventable death on the battlefield, whether it be a foreign combat zone or the streets of America.

Founded in 1996, NAR serves armed forces medical personnel, first responders, and other healthcare professionals by providing solutions that decrease preventable deaths on the battlefield and other austere conditions. NAR's founders were former U.S. military pararescuemen who recognized first-hand a need for quality casualty care products and procedures to treat combat-related injuries. In leveraging their significant military casualty care experience, NAR's management team has developed many life-saving products that are now standard-issue equipment for combat soldiers and tactical vehicles.

NAR's customers are the Army, Navy, Marine Corps, Air Force, and law enforcement professionals. NAR’s success stems from the background and experience of its executives in the Special Operations units of the U.S. military and the military medical community.

NAR is considered a thought leader in emergency trauma care and has collaborated with the military medical community, civilian institutions, and government organizations specializing in the development of tactical medical and rescue training standards. NAR also collaborates with the Tactical Combat Care Committee, which leads the development of solutions for unconventional medical and rescue operations in combat environments.

NAR is Sentinel’s second investment in the defense sector. The first was ReachOut Healthcare America, Ltd. the nation’s leading provider of administrative support services to affiliated dentists in the mobile dental industry, serving military personnel, underprivileged children, and seniors.

In February 2015, after achieving substantially all of our investment objectives, NAR was sold to another private equity firm. Since Sentinel's original investment, NAR rapidly expanded its civilian first responder revenues while continuing to serve its profitable military customers. NAR remains well positioned to continue growing under the leadership of its outstanding management team.



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Northeast Dental Management Inc.

www.nedentalmanagement.com

Management Buyout
Partnership with Founder
Subsequent Add-On Acquisitions

Press Releases
01/2016
04/2012


Headquartered in Paramus, New Jersey, Northeast Dental Management is a leading provider of office support services to dental clinics in the Northeast and mid-Atlantic. NEDM provides over 100 affiliated dentists and their staff with services such as administration staffing, human resources, purchasing, accounting/finance, and information technology. Each year, Northeast Dental’s affiliated clinics in New Jersey, New York, Pennsylvania, and Virginia provide 100,000 patients with the highest quality dental care via a full suite of best-in-class general dentistry, oral hygiene, and specialty dental services, including oral surgery, periodontics, pedodontics, and orthodontics.

Northeast Dental offers patients dentistry services at competitive prices in friendly, well-appointed dental clinics. Most clinics are in suburban areas in retail and business locations. Northeast Dental's strategy is to grow by providing support services to other dental offices in its existing geography.

In January 2016, having owned the business for almost four years and having achieved our investment objectives, NEDM was sold to private equity-backed Dental Care Alliance. Since Sentinel's original investment, NEDM made 24 add-on affiliations, which enabled it to more than double its number of offices from 29 to 65. During our ownership, NEDM expanded its geographic footprint from four to seven states along the Amtrak Corridor, and its revenues and profits more than doubled. NEDM remains well positioned to continue growing under the leadership of its outstanding 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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PlayCore Inc.

www.playcore.com

Management Buyout

Press Releases
05/2014


PlayCore Inc., headquartered in Chattanooga, Tennessee, is one of the leading playground equipment and recreation products companies in the world, specializing in commercial playground, park, recreation, performance and specialty equipment.

PlayCore designs and builds a wide spectrum of specialty equipment ranging from basic, modular play structures to complex, theme-based play environments that require significant creative and engineering competencies. PlayCore also provides a broad array of site amenities, surfacing, seating, performance, and fitness solutions, including picnic tables, benches, bleachers, bike racks, and outdoor fitness stations. Widely recognized as the industry thought leader, PlayCore also offers highly differentiated value-added services such as designing curriculum-based education programs for playgrounds and parks and helps customers access funding sources. PlayCore is an innovative leader and possesses a strong portfolio of leading brands in the playground and recreation market.

Customers rely on PlayCore for high quality, innovative solutions for commercial park and recreation applications. With multiple manufacturing, engineering, and sales locations in North America, PlayCore provides the highest level of customer support. The following PlayCore Video provides more information.



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Power Products, LLC

www.powerprodllc.com

Corporate Carveout
Management Buyout

Press Releases
12/2016
12/2013


Headquartered in Menomonee Falls, Wisconsin, Power Products is a global, diversified electrical products supplier primarily serving the construction and remodeling, marine and recreation, and industrial markets. Power Products owns a broad portfolio of recognized brand names, including Blue Sea Systems, Del City, Gardner Bender, Lenco Marine, Marinco, Mastervolt, and ProMariner.

Power Products designs, manufactures and distributes branded electrical tools, consumables, wiring products, harsh-environment power conversion solutions, inverters, switches, and other related electrical products and accessories. Power Products goes to market through a variety of sales channels including OEMs, wholesale distributors, internet, catalog, and retail outlets.

Having owned the business for more than three years and having achieved our investment objectives, in March 2017 Power Products was sold to another private firm in a management buyout. Since Sentinel's original investment, Power Products made three add-on acquisitions to strengthen its core business and divested two non-core divisions. During our ownership, Power Products' profitability rose almost 60%. Power Products remains well positioned to continue growing under the leadership of its outstanding management team.



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Precision Pipeline Solutions, LLC

Recapitalization

Press Releases
09/2009


Precision Pipeline Solutions, headquartered in Newburgh, New York, provides specialty services to natural gas and electric utilities. PPS offers a broad range of critical technical services that enable utilities to maintain and operate their natural gas and electric infrastructures. PPS’s range of services include inspecting, repairing, replacing, and maintaining natural gas and electric transmission, distribution, and generation systems as well as providing specialized consulting and auditing services. PPS maintains an in-house operator qualification program that complies with New York State Public Service Commission regulations. PPS’s clients currently include several of the largest utilities in the Northeast.

The energy infrastructure in the United States, particularly in older cities, such as those in the Northeast, where PPS operates, has a continuing need for the services provided by PPS. As a valued partner of its utility clients, PPS addresses a large and growing market.

In September 2009, Sentinel Capital Partners and management invested in PPS in a recapitalization transaction. TD Bank provided debt financing for the transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners IV, L.P.

In December 2014, after achieving substantially all of our investment objectives, PPS was sold to a strategic buyer. Since Sentinel's original investment, PPS grew rapidly and almost tripled in size. PPS remains well positioned to continue growing under the leadership of its outstanding management team.



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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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ReachOut Healthcare America, Ltd.

www.reachouthealthcare.com

Management Buyout
Transition from Founder Ownership
Subsequent Add-On Acquisitions

Press Releases
12/2010
08/2008
11/2007


ReachOut Healthcare America, based in Phoenix, AZ, ReachOut provides mobile dental services to under-served children in schools and foster programs, to the aged and disabled in residential facilities, and to US Army and National Guard units throughout the country. ReachOut provides dental service to nearly 80,000 children and 30,000 armed-services personnel each year. ReachOut offers a complete array of diagnostic, preventative, restorative, prosthodontic, and periodontal dental services.

ReachOut is the leader in a large and growing market that is significantly underserved, and its mobile model is scalable into numerous end-markets such as the military and nursing homes.

In November 2007, Sentinel Capital Partners and management acquired ReachOut in a management buyout transaction. Marshall & Ilsley Bank provided debt financing for the transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P.

In August 2008, ReachOut acquired Mobile Dentists, its largest competitor, creating a company that is the nation’s leader in mobile dental services. The combined company operates in 21 states and provided dental care to more than 250,000 low-income children in 2008. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided equity financing from Sentinel Capital Partners III, L.P.

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



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Revenew International LLC

www.revenew.net

Management buyout

Press Releases
07/2016


Headquartered in Houston, Texas, Revenew International provides cost recovery and cost containment services that deliver monetary recoveries and cost reduction benefits. Revenew serves a blue-chip Fortune 500 customer base, with particular expertise in the energy, utilities, and manufacturing sectors, through two core services lines: contract compliance and supplier payment review. Revenew's comprehensive suite of cost recovery solutions presents unique and highly compelling opportunities for clients to identify incorrect payments and recover overbilled amounts.

Revenew's services enable its clients to seek recovery from their service providers through the identification of incorrect payments and overbilled amounts. Revenew's programs ensure compliance with commercial terms, recover lost monies and provide best practice recommendations for contractual and operational improvements.



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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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RotoMetrics, Inc.

www.rotometrics.com

Management Buyout

Press Releases
11/2014


RotoMetrics is the leading global provider of precision rotary tooling for the printing and converting industries. RotoMetrics supports customers from manufacturing and repair service facilities in nine countries including the United States, Canada, United Kingdom, Denmark, Germany, Australia and Thailand.

Headquartered in St. Louis, Missouri, RotoMetrics provides made-to-order precision rotary cutting dies and engineered tooling for web converting and printing applications. These products are critical components in the production of a wide array of tags, labels, and packaging items used in the consumer goods, healthcare and industrial markets. RotoMetrics maintains deep relationships with a highly diverse blue chip customer base of more than 5,000 converters and OEMs. RotoMetrics enjoys the #1 position in its core tag and label market.



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SONNY'S Enterprises, Inc.

www.sonnysdirect.com/

Recapitalization

Press Releases
12/2016


SONNY'S Enterprises, Inc. is the leading worldwide manufacturer of conveyorized car wash systems. SONNY'S is headquartered in Tamarac, Florida, where it designs and manufactures car wash systems.

With strong development and design capabilities and a long-term record of innovation and excellent customer satisfaction, SONNY'S has become the premier global provider of car care products to car wash professionals. SONNY'S offers a broad range of car wash products and services and has established longstanding sales relationships and distribution channels throughout North America.



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Southern California Pizza Co., LLC

www.pizzahut.com

Corporate Carveout
Only Store / Field Operations Included
Built Management Team and Created Corporate Infrastructure
Subsequent Add-On Acquisitions

Press Releases
12/2012
08/2009
08/2008


Southern California Pizza, a Corona, California company organized by Sentinel and management, owns and operates 224 Pizza Hut restaurants in the greater Los Angeles market, and has rights to develop the Pizza Hut brand in this region.

In 2008, Sentinel acquired an initial block of 123 of restaurants in a corporate divestiture transaction from franchisor Pizza Hut, a subsidiary of Yum! Brands, Inc. This was Sentinel's third investment in the quick-service restaurant sector and its second in the Yum! Brands system. Sentinel's two prior quick-service restaurant investments—Border Foods, a Taco Bell franchisee (part of Yum! Brands), and Falcon Holdings, a Church's Chicken franchisee—were both highly successful. Sentinel made the acquisition through an investment in newly-formed Southern California Pizza Company.

In August 2009, Southern California Pizza acquired an additional 98 Pizza Huts in northern Los Angeles, making it the largest franchisee in California and the third largest in the Pizza Hut system, which operates more than 7,500 QSRs worldwide. Sentinel originated and sponsored the transaction, arranged the acquisition debt and provided equity financing from Sentinel Capital Partners III, L.P.

Sentinel Capital Partners also originated, sponsored and provided the private equity financing for the original formation of Southern California Pizza and structured and arranged debt financing for the acquisition.

In December 2012, after owning the business for more than four years and achieving substantially all of our investment objectives, Southern California Pizza was sold to another private equity firm. Under Sentinel's ownership, Southern California Pizza was transformed into a standalone business with its own management and corporate infrastructure from a regional group of stores tightly integrated into Pizza Hut's existing infrastructure. During this period, Southern California Pizza grew substantially and almost tripled its profitability. Southern California Pizza remains well positioned to continue growing under the leadership of its superb management team.



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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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TGI Fridays, Inc.

www.tgifridays.com

Corporate Carveout
Management Buyout

Press Releases
07/2014


TGI Fridays, headquartered in Carrollton, Texas, is a global leader in the $85 billion casual dining segment of the restaurant industry, with an iconic, globally recognized, 49-year-old brand and a heritage as the original American bar and grill. The Fridays system comprises more than 900 restaurants in 60 countries, including more than 500 restaurants in the U.S. Fridays boasts the largest international presence of any U.S. casual dining chain, and customers around the world equate the highly recognizable brand with classic American fare and expert service. The Fridays system generates more than $2.6 billion in systemwide sales.

Fridays differentiates itself from other casual dining restaurants through its unique positioning as a “casual dining bar.” The bar-centric concept—to which the social experience of customers is as central as the restaurants’ high-quality food and drinks—is embodied in Fridays’ name and motto: “In Here It’s Always Friday.” Fridays is known for inventing the “happy hour” and introducing Long Island iced tea, potato skins, and Jack Daniels-branded food items to American casual dining.



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Tony Roma Restaurant Holdings, Inc.

www.tonyromas.com

Corporate Carveout
Management Buyout

Press Releases
07/1998


Tony Roma's, headquartered in Dallas, Texas, is the franchisor of Tony Roma's restaurants. With 260 restaurants in 25 states and 19 foreign countries, Tony Roma's is the largest national casual dining chain specializing in ribs. The Tony Roma's name and its "Famous for Ribs" and "A Place for Ribs" slogans are familiar throughout the United States, especially in Florida, Texas and California where the majority of restaurants are located. Since Tony Roma's inception in 1972, its baby back ribs have won numerous consumer and industry awards in more than 25 markets.

In 1998, Sentinel acquired a controlling interest in Tony Roma's, a subsidiary of NPC International, Inc., in a recapitalization carveout transaction valued at $109 million. NPC is the largest franchisee in the Pizza Hut system with more than 850 units, and continues to own a minority stake in Tony Roma's. The recapitalization positions Tony Roma's for aggressive growth in the United States and internationally. Sentinel originated, sponsored and negotiated the transaction, arranged the senior debt financing, and provided the private equity financing.

After holding the investment for more than seven years, in March 2006, Sentinel sold Tony Roma's.



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Total Military Management, Inc.

www.totalmm.com

Management Buyout

Press Releases
04/2015


Total Military Management is the leading global provider of relocation services for U.S. military and government personnel. Based in Jacksonville, Florida, TMM is a technology-enabled, asset-light provider of logistical, administrative, sales and marketing services to a network of transportation service providers.

TMM targets the fragmented $2.5 billion U.S. military moving and storage industry, which is comprised of approximately 300,000 annual relocations of the 1.3 million active duty U.S. military members and their families. TMM utilizes its sophisticated technology systems, operating infrastructure, and global network of service providers to manage the resource-intensive and administratively complex logistical tasks associated with military relocations.



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Trinity Consultants, Inc.

www.trinityconsultants.com

Management Buyout
Transition from Founder Ownership
Subsequent Add-On Acquisitions

Press Releases
11/2011
12/2007


Trinity Consultants, Inc., founded in 1974 and headquartered in Dallas, Texas, is a leading provider of air quality consulting and compliance services in the United States.

Trinity is ISO 9001:2000 certified, a rarity in the industry. With over 270 employees in 24 strategically located offices, Trinity provides a full range of air quality compliance services and has specific expertise in the energy, manufacturing, industrial and utility sectors. Trinity helps its clients comply with federal, state and local air quality regulations and manage leading edge issues such as climate change and environmental sustainability. Trinity also provides complementary products and services such as EH&S information management solutions, educational courses, environmental modeling software and EH&S staffing services.

Trinity is the premier player in its market and faces substantial opportunities given the increasing global focus on the environment, including greenhouse gas emissions and other air quality concerns.

In November 2007, Sentinel Capital Partners and management acquired Trinity in a management buyout transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P.

In November 2011, after achieving substantially all of its investment objectives in four years, Sentinel sold Trinity in a management buyout transaction. Since Sentinel's original investment, Trinity grew by more than 50% and is well positioned to continue growing.



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Trussbilt LLC

www.trussbilt.com

Management Buyout

Press Releases
02/2007


Trussbilt LLC, headquartered in Vadnais Heights, MN, is a specialty manufacturer of steel security products for the detention and corrections market.

Founded in 1926, Trussbilt makes correctional facilities such as prisons and jails more secure and cost-effective by designing and building security products that set the standard for safety, reliability and innovation. Trussbilt is the only company in the detention industry that offers a complete line of steel doors, walls, frames, ceilings and other furnishings. The company’s proprietary design for metal door and wall construction uses a unique manufacturing process resulting in a thin, light steel panel of tremendous strength and durability.

Trussbilt has supplied products to all 50 states as well as 17 foreign countries. The company’s commercial product line provides protection from threats such as intrusion, severe weather, explosives and other terrorist threats. Trussbilt's innovative products deliver high quality, cost-effective solutions for a full range of security environments.

Sentinel Capital Partners and management acquired Trussbilt in a management buyout transaction. Marshall & Ilsley Bank provided senior debt for the transaction. Sentinel originated, sponsored and negotiated the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P. Trussbilt was sold to an industry buyer in October 2014.



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Vintage Holdings, Inc.

www.vpartsinc.com

Corporate Carveout
Management Buyout

Press Releases
09/2015
10/2007


Vintage Holdings, Inc. (d/b/a Vintage Parts), headquartered in Beaver Dam, WI, is the leading independent distributor of original slow-moving and inactive OEM replacement parts for automobiles, recreational vehicles, and construction, agricultural and material handling equipment.

Pursuant to long-term agreements with 37 OEMs, including General Motors, Ford, CNH Global, John Deere, Harley-Davidson, Komatsu, and Honda, Vintage Parts purchases old-model inventories of parts and warehouses them for future sale and distribution to more than 75,000 individual customers, many of which are authorized OEM dealers. Vintage Parts today is the single largest independent supplier of original OEM parts with more than one million part numbers.

Vintage Parts plans to grow by increasing the quantity and quality of parts purchased from current OEM relationships and also by purchasing inventory from new OEM customers, both in current targeted industries and in selected new industries.

In October 2007, Sentinel Capital Partners and management acquired Vintage Parts in a management buyout transaction that was a carveout from John Swire & Sons Pty Ltd. Marshall & Ilsley Bank provided debt financing for the transaction. Sentinel originated and sponsored the transaction, arranged the acquisition debt and provided private equity financing from Sentinel Capital Partners III, L.P.

In September 2015, having owned the business for eight years and having achieved our investment objectives, Vintage Parts was sold to another private equity firm. Since Sentinel's original investment, Vintage Parts grew rapidly, adding 30 new OEM partners, entering several new end markets, and more than tripling its profitability. Vintage Parts remains well positioned to continue growing under the leadership of its outstanding management team.



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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.