About us - Waud Capital Partners

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ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
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ABOUT US
OVERVIEW
PORTFOLIO
NEWS
INVESTMENT CRITERIA
INVESTOR ACCESS
PARTNERING WITH WCP
Collaborative Success
To us it’s simple. A successful partnership is
one where everyone wins. Success does not
just mean making money. Success means that
everyone achieves their goals – our employees,
our customers, our operating partners, as well
as our shareholders. Hopefully, we all have a
little fun along the way.
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ABOUT US
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Waud Capital Partners
Founded in 1993, Waud Capital Partners is a private equity investment firm
that partners with management teams to invest in middle market buyouts,
recapitalizations, growth equity investments and industry consolidations.
Waud Capital Partners is a growth investor with a value perspective. We
invest in business and consumer services, healthcare services, specialty
distribution and value-added manufacturing. We have a particular interest
in companies that can be grown internally or through acquisitions.
Our willingness to explore a spectrum of investment options, together with
our expertise, experience and determination, maximizes the opportunity
for greater reward.
Since we began in 1993, Waud Capital Partners has successfully completed
over 75 investments covering a wide range of industries, including:
• Adhesives
• Litigation Support
• Air and Water Treatment
• Medical Distribution
• Alarm Monitoring
• Petroleum Distribution
• Automotive Components
• Pharmaceuticals
• Coatings
• Publishing
• Consumer Products
• Sealants
• Home Healthcare Services
• Specialty Hospitals
• Hospitals
• Tax Consulting
• Lighting
About us
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Types of Investment
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Industries of Interest
Investment Focus
Waud Capital Partners seeks to invest $10 million to $100 million of equity
capital in manufacturing, distribution and service companies with:
• Enterprise values ranging from $30 million to $300 million
• Sustainable cash flows greater than $5 million
Investing in Leaders
Waud Capital Partners invests in leading businesses with the following
characteristics:
Proven management
WCP invests with experienced operating partners with proven track records of
growing businesses and building long-term shareholder value. Our management partners typically make equity investments alongside WCP and have the
ability to earn additional performance-based equity.
Well-defined niche business
Waud Capital Partners invests in business and consumer services, healthcare
services, specialty distribution and value-added manufacturing companies
that operate in well-defined market niches with attractive industry fundamentals. A company's niche should be large enough to support substantial
growth and possess a favorable competitive environment.
Strong market position
The firm targets companies that are strategically positioned in traditionally
defensible markets. A strong market position generally enables the company
to capitalize on opportunities for internal growth and synergistic acquisitions.
Significant growth potential
Waud Capital Partners invests in companies with significant potential for
growth, either internally or through acquisition. Ideal candidates are
businesses that have identified opportunities for growth that can be best
realized by partnering with an experienced private equity firm.
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Types of Investments
Waud Capital Partners invests in the following types of private equity
transactions:
Growth equity financings
The firm will consider equity investments in companies seeking capital
to finance internal growth or follow-on acquisitions.
Recapitalizations
Waud Capital Partners provides the owners of closely held businesses
with liquidity while allowing them to retain significant ownership and
day-to-day operational control.
Industry consolidations
The firm partners with experienced management teams to create
leading companies in fragmented industries. WCP proactively identifies
industries poised for consolidation and invests in businesses whose market
position, profitability and value can be enhanced through complementary
acquisitions.
Generational changes of ownership
WCP offers owners of family businesses complete or partial liquidity while
providing an active role for subsequent generations. The firm is committed
to working with family members, management and employees to create
value and preserve a company's culture and legacy.
Acquisition of corporate divisions/subsidiaries
WCP invests with management teams to acquire non-strategic
divisions/subsidiaries of larger corporations. Once independent, these
businesses are able to pursue stand-alone growth strategies led by our
operating partners who have significant equity ownership.
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Waud Capital Partners has a high level of interest in these additional areas.
SIC
Code
20
22
23
24
25
26
27
28
30
32
33
34
35
36
37
38
42
43
Description
Food & Kindred Products
Textile Mill Products
Apparel & Other Finished Products
Lumber & Wood Products
Furniture & Fixtures
Paper & Allied Products
Printing & Publishing
Chemicals & Allied Products
Rubber & Miscellaneous Plastics
Stone, Clay & Glass Products
Primary Metal Industries
Fabricated Metal Products
Industrial Machinery & Equipment
Electronic & Other Electric
Equipment
Transportation Equipment
Instruments & Related Products
Trucking & Warehousing
U.S. Postal Services
SIC
Code
47
48
50
51
72
73
75
76
80
81
82
83
86
87
91
92
94
Description
Transportation Services
Communications Services
Wholesale Trade-Durable Goods
Wholesale Trade-Non-durable
Goods
Personal Services
Business Services/Information
Technology
Auto Repair, Services & Parking
Miscellaneous Repair Services
Health Services
Legal Services
Educational Services
Social Services
Membership Organizations
Engineering, Accounting & Related
Manufacturing
Distribution
Service
WCP typically does not invest in turnarounds or companies in the following
industries: biotechnology, high technology, hotels, oil and gas exploration and
production, real estate and restaurants.
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A Valued Partner
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WCP Experience
Waud Capital Partners:
Creating a whole greater than the sum of its parts.
We’re in the business of creating long-term value. We do it with a clear focus
and vision. That’s why Waud Capital Partners works actively at the Board of
Directors level to create substantive long-term value for every stakeholder –
employees, customers, operating partners and shareholders.
To achieve optimal success at this level, our investment professionals work
directly with the managers of middle market companies, providing expertise
and comprehensive guidance in the following critical areas:
• Instituting a bottom-up, top-down budget
• Developing and executing a strategic plan to create long-term value
• Creating a disciplined focus on operational improvement
• Identifying and negotiating acquisitions
• Financing growth
• Recruiting additional management
• Realizing value
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WCP Experience
Performance. It speaks for itself.
A proven track record. You’ll find it at Waud Capital Partners.
With over 75 successfully completed investments in 13 years, our reputation for partnering with middle market companies is becoming well known.
Our team of investment professionals has over sixty years of combined
experience and we’ve closed over one hundred principal investments.
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Investment Professionals
Strong players. Top-ranked team.
Bold vision. Drive and determination.
Unparalleled expertise.
That defines every investment professional
here at Waud Capital Partners.
As you might expect, our investment
professionals all have impressive educational
and professional credentials. But it is as a
team that we truly shine. Our team has
become known in the world of middle
market investing for their tenacity and their
willingness to collaborate.
Give us a call and let's talk about how we
can get our team working with you.
Reeve Waud
Eric Gordon
Matthew Clary
Chris Graber
David Neighbours
Matt London
Chuck Edwards
Kyle Webb
Mark Flower
Tripp Welge
Jennifer Sammis
Grant Wilson
Joe Verburgt
Executive Partners
Advisory Board
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Executive Partners
Advisory Board
Reeve Waud is the Founder and Managing Partner of Waud Capital Partners, a
private equity firm based in Chicago, Illinois, with more than $500 million of capital
under management. Over Mr. Waud’s twenty-four year private equity career, he has
acquired more than 135 companies. Today, Waud Capital’s portfolio companies
have revenues of approximately $4 billion and more than 7,000 employees. In
addition, he has oversight and shares investment responsibility for an additional
$4 billion of investments.
Mr. Waud has invested in a wide variety of industries including healthcare services,
business and consumer services, specialty distribution, and value-added
manufacturing. He has founded or co-founded: the largest private adhesives
company in the United States; the largest distributor of petroleum products for
commercial and industrial use in the country; the third largest long-term acute care
hospital group; the third largest hospitalist management company; and the eleventh
largest security monitoring company.
Currently, Mr. Waud serves as the controlling shareholder and/or Chairman of the
Board of Acadia Healthcare, Advanced Reimbursement Management, Aquion Partners,
CarePoint Partners, Hospitalists Management Group, Maxum Petroleum, Regency
Hospital Company, True Partners Consulting, and Whitehall Products.
Prior to founding Waud Capital Partners in 1993, Mr. Waud was an investment professional
at Golder, Thoma, Cressey, Rauner, Inc. (GTCR), a private equity investment group based in
Chicago. At GTCR, Mr. Waud had investment responsibility for a wide range of portfolio
companies that were built through more than thirty acquisitions. These included: Barefoot
Grass, the nation’s second largest lawn care company; DIMAC, the largest vertically-integrated
direct mail marketing company in the U.S.; Energy Transfer Partners, L.P. (formerly Heritage Propane
Partners, L.P.), the nation’s fourth largest propane retailer with more than $1 billion of EBITDA and third
largest Master Limited Partnership; and PTN Holding Corporation, a leading publisher of trade magazines.
Before joining GTCR, Mr. Waud was in the Corporate Finance Group of Salomon Brothers, Inc., and was a
founding member of its Venture Capital Group.
Mr. Waud serves on the Board of Directors of Northwestern Memorial Foundation, the philanthropic arm that
supports the fundraising, grant-making and stewardship activities of Northwestern Memorial HealthCare
(NMHC). He is a member of the NMHC Finance Committee, which, in additional to overseeing the financials of
NMHC and its $2.9 billion capital budget, has responsibility for a $2.3 billion endowment including more than
$500 million in private equity, venture capital, real estate and other alternative investments.
Mr. Waud currently serves as an advisor to Green Courte Partners, a private equity, real estate investment firm. In
addition, Mr. Waud is a member of the Commonwealth Club of Chicago and is a member of The Economic Club
of Chicago where he serves as the Chairman of the Questions Committee. He is a trustee of St. Paul’s School in
Concord, New Hampshire and the John G. Shedd Aquarium. In addition, he serves on the Visiting Committee of
the University of Chicago Harris School of Public Policy.
Mr. Waud holds a B.A. in Economics from Middlebury College and an M.B.A. from the Kellogg School of
Management at Northwestern University.
RETURN TO PROFESSIONALS
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Reeve Waud
ABOUT US
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Executive Partners
Advisory Board
Matt Clary, a Partner, joined WCP in 2004. Prior to joining WCP, Mr. Clary was
a Partner with Banc of America Capital Investors (“BACI”) in Chicago. Mr. Clary
originated, structured and managed private equity and mezzanine investments to
facilitate leveraged buyouts, recapitalizations and internal growth of middle-market
companies. While at BACI, Mr. Clary invested in a variety of industries, including
business services, healthcare, logistics and manufacturing. Prior to joining BACI,
Mr. Clary was a Senior Associate in the Corporate Banking Group at Bank of
America, focused on highly structured and leveraged transactions.
Mr. Clary holds a B.A. in Economics from the University of Washington and an
M.B.A. from the Kellogg School of Management at Northwestern University. He
currently serves as Chairman of the Board of CarePoint Partners and as a member of
the Board of Aquion Water Treatment Products and Hospitalists Management Group.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Matt Clary
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Executive Partners
Advisory Board
David Neighbours, a Partner, joined WCP in 2003. Prior to joining WCP,
Mr. Neighbours worked for Citigroup Investments in New York where he was
responsible for the analysis, due diligence and execution of numerous private
equity, mezzanine and structured product investments in a variety of industries,
including communications, consumer products, financial services, healthcare and
leisure. Previously, Mr. Neighbours was with Salomon Smith Barney in New York,
where he worked in the firm's proprietary investment group, SSB Capital Partners,
and prior to that, in the firm's investment banking division.
Mr. Neighbours holds a B.B.A., cum laude, in Finance from the University of Notre
Dame. He currently serves as Chairman of the Board of Advanced Reimbursement
Management and as a member of the Board of Hospitalists Management Group,
Regency Hospital Company and True Partners Consulting.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
David
Neighbours
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Executive Partners
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Chuck Edwards, a Principal, joined WCP in 2005. Prior to joining WCP, Mr.
Edwards worked in the Mergers and Acquisitions Group at investment bank A.G.
Edwards & Sons in St. Louis where he participated in the analysis and execution of
a variety of transactions involving middle-market clients from a wide array of
industries.
Mr. Edwards holds a B.S., magna cum laude, in Finance and Business Administration
from the University of Missouri and an M.B.A. from Harvard Business School. He
currently serves as a member of the Board of Aquion Water Treatment Products,
Maxum Petroleum and Acadia Healthcare Company.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Charles
Edwards
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Mark Flower, the Chief Financial Officer, joined WCP in 2004. Prior to
joining WCP, Mr. Flower worked for Vector Fund Management, the venture capital
arm of the life sciences and healthcare investment bank, Vector Securities
International. During his five years with Vector Fund Management, Mr. Flower
held the position of CFO and Treasurer. Mr. Flower began his professional career
with Arthur Andersen in Chicago, followed by accounting and finance positions
with Kemper Financial Services, Kemper Asset Management Company and Iowa
Grain Company.
Mr. Flower holds a B.B.A. in Accounting from the University of Wisconsin and has
a CPA designation from the state of Illinois.
Mark Flower
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
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Executive Partners
Advisory Board
Jennifer Sammis, the Controller, joined WCP in 2008. Prior to joining
WCP, Ms. Sammis was a Manager in the Investment Management practice at
PricewaterhouseCoopers in Chicago where she focused on Private Equity and Hedge
Fund clients providing tax consulting and tax compliance services. Previously, Ms.
Sammis worked at a local accounting firm where she worked on a variety of client
accounts, including high net worth individuals and hedge funds, performing
various accounting and tax services.
Ms. Sammis holds a B.B.A. in Accounting from the University of Iowa and has a
CPA designation from the state of Illinois.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Jennifer
Sammis
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Executive Partners
Advisory Board
Joe Verburgt, a Staff Accountant, joined WCP in 2009. Prior to joining WCP,
Mr. Verburgt worked as an internal audit consultant at Protiviti, a global business
risk and internal audit firm, where he focused on internal audit and Sarbanes-Oxley
engagements across energy, financial services, manufacturing, and telecommunications clients. Previously, Mr. Verburgt worked as an accounting intern with Mandel
Group, a Milwaukee-based real estate developer.
Mr. Verburgt holds a B.S.B.A. in Accounting from Marquette University.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Joe Verburgt
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Executive Partners
Advisory Board
Eric Gordon, a Vice President, joined WCP in 2008. Prior to joining WCP, Mr.
Gordon worked as Manager of Real Estate Investments at Ventas, Inc. in Chicago
where he was responsible for the analysis, due diligence and execution of
healthcare-related property acquisitions. Previously, Mr. Gordon was with Merrill
Lynch in New York, where he worked in the Leveraged Finance Group.
Mr. Gordon holds a B.S., magna cum laude, in Economics and Mathematics from
Duke University and an M.B.A. from Harvard Business School, where he was a Baker
Scholar, Henry Ford II Scholar and Wolfe Scholar. He currently serves as a member
of the Board of Advanced Reimbursement Management and CarePoint Partners.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Eric Gordon
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Executive Partners
Advisory Board
Chris Graber will be re-joining Waud Capital Partners in the summer of 2010
as a Vice President. Mr. Graber was previously an Associate at WCP and, prior to
that, an Analyst in the investment banking group of Robert W. Baird in Chicago
where he worked on a variety of M&A transactions and equity financings across
many industries, including industrials, consumer products and business services.
Mr. Graber holds a B.A., magna cum laude, in Economics and Public Policy from
Duke University and anticipates receiving his M.B.A. from the Kellogg School of
Management at Northwestern University in June 2010.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Chris Graber
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Matt London, a Vice President, joined WCP in 2007. Mr. London was previously
an Associate at WCP and, prior to that, an Analyst in the investment banking
groups of Deutsche Bank in Chicago, where he worked in the Industrials Group, and
Morgan Keegan in Memphis.
Mr. London holds a B.S.B.A., magna cum laude, in Finance and International
Business from Washington University in St. Louis. He currently serves as a member
of the Board of Maxum Petroleum and Regency Hospital Company.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Matt London
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Kyle Webb, an Associate, joined WCP in 2009. Prior to joining WCP, Mr. Webb
was an Analyst in the investment banking group of Robert W. Baird in Chicago
where he worked on a variety of M&A transactions and equity and debt financings
across many industries, including industrials, packaging and consumer retail.
Mr. Webb holds a B.A., cum laude, in Economics and Political Science from
Indiana University.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Kyle Webb
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Tripp Welge, an Associate, joined WCP in 2009. Prior to joining WCP,
Mr. Welge worked as an Analyst in the investment banking groups of Deutsche
Bank in Chicago, where he worked in the Industrials Group, and Banc of America
Securities in Chicago.
Mr. Welge holds a B.S. in Finance from Miami University.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Tripp Welge
Tripp Welge
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Grant Wilson, an Associate, joined WCP in 2008. Prior to joining WCP,
Mr. Wilson was an Analyst in the investment banking group of Lehman Brothers in
Chicago where he worked on a variety of M&A transactions and equity and debt
financings across many industries, including financial services and industrials.
Mr. Wilson holds a B.S., magna cum laude, in Accounting and Finance and a
Master's of Accountancy from Miami University.
Reeve Waud
Matthew Clary
David Neighbours
Chuck Edwards
Mark Flower
Jennifer Sammis
Joe Verburgt
Eric Gordon
Chris Graber
Matt London
Kyle Webb
Tripp Welge
Grant Wilson
Grant Wilson
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Executive Partners
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Executive Partners
Albert T. Cantu
Albert T. Cantu is an Executive Partner of Waud Capital Partners. Prior to
joining WCP, Mr. Cantu served as ServiceMaster Group Business President,
managing four major business units, including American Residential Services,
Merry Maids, ServiceMaster Clean and FurnitureMedic. He also served six years
as President and Chief Operating Officer of Terminix, ServiceMaster’s pest
control division. Mr. Cantu began his career with Terminix in 1985, holding
various leadership positions throughout the company.
Mr. Cantu currently serves on the board of trustees of Christian Brothers
University, the advisory board of St. Jude Children’s Research Hospital and the
University of Memphis Center for Economic Education. He has previously served
on the board of directors of the Children’s Museum of Memphis, the Junior
League of Memphis and the Catholic Charities of Memphis, as well as on the
advisory board of the University of Tennessee Center for Health Sciences.
Mr. Cantu received a B.B.A. in Economics and an M.B.A. in Finance from
Memphis State University.
Gary A. Mecklenburg
Gary A. Mecklenburg is an Executive Partner of Waud Capital Partners. Prior to
joining WCP, Mr. Mecklenburg served as President and CEO of Northwestern
Memorial HealthCare and Northwestern Memorial Hospital for twenty-one years.
Mr. Mecklenburg’s career, which began in 1970, has included senior management
positions at the University of Wisconsin Hospitals, Stanford University Hospital and
St. Joseph’s Hospital and Franciscan Healthcare in Milwaukee, and he is now
recognized as one of the nation’s leading healthcare executives.
Mr. Mecklenburg’s national role has included serving as chairman of the American
Hospital Association, the Illinois Hospital Association, the Health Forum, the
National Alliance for Information Technology, and the Healthcare Research and
Development Institute. He also serves on the boards of the Institute for Healthcare
Improvement and the National Center for Healthcare Leadership. Mr. Mecklenburg
is a director of Becton Dickinson and Company and of WCP portfolio company,
Acadia Healthcare Company. He is the Chairman of WCP portfolio companies,
Hospitalists Management Group and Regency Hospital Company.
Among his many professional activities, Mr. Mecklenburg has been a passionate
advocate for leadership and workforce development, for healthcare information
technology, and for improving diversity through mentoring. He is a frequent
speaker and university lecturer, and serves as preceptor, lecturer and member of
the Advisory Board at the Kellogg Graduate School of Management of Northwestern University. He recently served on the federal Commission of Systematic
Interoperability and chaired the American Hospital Association’s Commission on
Workforce for Hospitals and Health Systems.
Mr. Mecklenburg has been recognized by a number of organizations for his
professional, community, and volunteer service activities, including the University
of Chicago, Kellogg Graduate School of Management, American Hospital
Association, The Ohio State University, Illinois Hospital Association, Institute for
Diversity in Healthcare Management, American College of Healthcare Executives,
Illinois Hospital Association, Boy Scouts of America, Junior Achievement, YMCA,
March of Dimes, and the Epilepsy Foundation of Greater Chicago.
Mr. Mecklenburg received a B.A. from Northwestern University and an M.B.A. from
the University of Chicago.
Executive Partners
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Executive Partners
Advisory Board
Advisory Board
John A. Canning, Jr.
John A. Canning, Jr. is Chairman of Madison Dearborn Partners, LLC
("MDP"), which specializes in management buyout and special equity
investing. MDP manages over $18 billion of committed capital and portfolio
investments. Prior to founding MDP in 1993, Mr. Canning spent 24 years
with First Chicago Corporation, most recently as Executive Vice President of
The First National Bank of Chicago and President of First Chicago Venture
Capital. He currently serves on the Boards of Directors of The Economic Club
of Chicago, Exelon Corporation, Milwaukee Brewers Baseball Club,
Northwestern Memorial Hospital, TransUnion Corp., and Children's Inner
City Educational Fund. He also serves on the Boards of Trustees of the Big
Shoulders Fund, The Field Museum, Museum of Science and Industry, and
Northwestern University. Mr. Canning is also a Commissioner of the Irish
Pension Reserve Fund, a Trustee and Chairman of The Chicago Community
Trust, and a Director and Chairman of the Federal Reserve Bank of Chicago.
Mr. Canning has an A.B. from Denison University and a J.D. from Duke
University.
Bryan C. Cressey
Bryan Cressey is a Co-founder of Cressey & Company, Golder, Thoma,
Cressey, Rauner, Inc., Thoma Cressey Equity Partners. Which manage over a
billion dollars of private equity funds. Numerous highly successful
companies have evolved from GTCR’s industry consolidation strategy,
including the world’s largest paging company, the nation’s second largest
networking cable company, the fourth largest funeral home company in the
U.S. and the nation’s fourth largest propane distribution company. Fortune
and Time have recognized his industry consolidation leadership, and his
particular expertise in the healthcare services field has been widely
acknowledged. Mr. Cressey serves as Chairman of Belden, Inc., a New York
Stock Exchange company, and is a Director of several other companies. Mr.
Cressey holds an M.B.A. from Harvard Business School, a J.D. from Harvard
Law School and a B.A. from the University of Washington.
W. James Farrell
W. James Farrell is the recently retired Chairman and CEO of Illinois Tool Works
Inc. (ITW), a multi-national manufacturer of highly engineered fasteners,
components, assemblies and systems. ITW is comprised of approximately 825
decentralized operations in 52 countries with more than 60,000 employees and
2005 Revenues of approximately $16.2 billion. Mr. Farrell was elected Chairman in
May 1996 before which he had served as President and CEO. Prior to that time, he
was Executive Vice President of the company. Since joining ITW in 1965 Mr. Farrell
held numerous general manager and vice president positions. Mr. Farrell is active in
numerous business, educational and cultural organizations. Currently, he serves on
the Board of Directors of Abbott, Allstate Insurance Company, 3M and UAL
Corporation. Mr. Farrell also serves on the Board of Directors of the Economic Club
of Chicago, the Lyric Opera of Chicago, Junior Achievement of Chicago, and the
United Way of Metropolitan Chicago and is the former Chairman and Director of
the Federal Reserve of Chicago. He serves on the Board of Trustees of the Museum
of Science and Industry, Rush Presbyterian-St. Luke’s Medical Center, and
Northwestern University and is the Chairman of the Campaign Steering Committee
of the Kellogg Graduate School of Management. In addition, Mr. Farrell is a
member of the Business Council and a member of the Civic Committee of the
Commercial Club of Chicago. Mr. Farrell holds a B.S. in Electrical Engineering from
the University of Detroit. He also served in the U.S Army from 1965-1967.
Advisory Board
ABOUT US
OVERVIEW
PORTFOLIO
NEWS
INVESTMENT CRITERIA
INVESTOR ACCESS
PARTNERING WITH WCP
CONTACT US
MAP/DIRECTIONS
PROFESSIONALS
Executive Partners
Advisory Board
Advisory Board
Brian Knitt
Brian Knitt is a Managing Director of Cheyenne Capital Fund. Mr. Knitt has
experience in private equity as a director and an investor. In the private
equity area, he has expertise in a full range of matters, including sourcing
and selecting investment opportunities, due diligence, negotiating deal
terms, and adding value to investments. Mr. Knitt joined Cheyenne Capital
Fund in 2003. Prior to joining Cheyenne Capital Fund, Mr. Knitt focused on
telecommunications and information technology private equity investments
as an investment professional at Meritage Funds. Meritage is one of
Colorado’s largest private equity funds with over $500 million of committed
capital under management. Prior to Mr. Knitt’s private equity career, he was
an officer in the U.S. Air Force. He left the service in 1998 with the rank of
Captain. Mr. Knitt received a B.S. from Colorado State University, a M.S.
from the University of Southern California and a M.B.A. from the UCLA
Anderson School of Management.
Hunter S. Reisner
Hunter Reisner is a Managing Director of ACI Capital. Prior to joining ACI,
he was the Founder and Managing Partner of Citigroup Investments Private
Equity Group and became Senior Partner of its successor, Citigroup Private
Equity. In these capacities, Mr. Reisner was responsible for investing over $3
billion and managing over $6 billion of proprietary and client capital in over
30 private equity direct investments and over 125 private equity partnerships. Previously, he invested in private equity as well as public equity and
equity-related securities at Butler Capital, Salomon Brothers and Morgan
Stanley. He has also served as a senior equity capital markets professional at
Smith Barney and Salomon Brothers. Mr. Reisner has held seats on the
advisory boards, investment committees and boards of directors of over 20
private equity funds and portfolio companies, most of which operate in the
middle market. He received a B.A. in Economics and Mathematics from Yale
University, graduating summa cum laude, and an M.B.A. from Stanford
University's Graduate School of Business.
Jennifer W. Steans
Jennifer W. Steans is the President of Financial Investments Corporation
("FIC"), where she oversees private equity investments and the Steans family
office operations. Prior to founding FIC in 1994, Ms. Steans served as
Treasurer of Prime Graphics, Inc. and as a Senior Consultant then as
Manager for the Management Consulting arm of Deloitte & Touche,
primarily in the finance and health care industries. Ms. Steans’ business
affiliations include service as a Chairman of MCS Holdings, LLC and
USAmeribancorp, Inc., a privately held Tampa Bay area middle market bank.
She is also a Director of Provest Holdings, LLC and Elektra Holding
Company, LLC. Ms. Steans also actively helps lead a number of nonprofit
entities, including serving as past Chair of Leadership Greater Chicago. She
currently serves as Trustee of Eleanor Foundation, City Year Chicago, Ravinia
Festival, The Steans Family Foundation and Swedish Covenant Hospital. Ms.
Steans received her Masters of Management from the Kellogg School of
Management at Northwestern University and holds a B.S. degree from
Davidson College.
Advisory Board
ABOUT US
OVERVIEW
PORTFOLIO
NEWS
INVESTMENT CRITERIA
INVESTOR ACCESS
PARTNERING WITH WCP
CONTACT US
MAP/DIRECTIONS
PROFESSIONALS
Executive Partners
Advisory Board
Advisory Board
Cornelius B. Waud
Ron Waud is a former senior executive of Illinois Tool Works Inc. Mr.
Waud joined ITW, a company founded by his grandfather in 1963, when
it had $33 million in revenues. Today ITW is a $16 billion multinational
corporation with over 825 operating units in 52 countries. During his
tenure at ITW, Mr. Waud held a variety of positions, including General
Manager, Chief Engineer, Vice President, Group President and, finally,
President of one of ITW’s worldwide business units. Mr. Waud has a B.A.
in Economics from St. Lawrence University. In addition, he serves as a
Director of American Louver Company and Whitehall Products, L.L.C. He
was previously a director of the Chicago Crime Commission and Junior
Achievement of Chicago. From 1996 until 1999, Mr. Waud served as the
Mayor of Lake Forest, Illinois.
Advisory Board
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
A single success may be attributed to luck.
Repeated success requires vision.
Fund II
Acadia Healthcare Company
CarePoint Partners
Advanced Reimbursement Management
Hospitalists Management Group, Ltd.
Aquion Water Treatment Products
Maxum Petroleum, Inc.
True Partners Consulting
Alarm Security Group
Exited October 2007
Parish Publications
Exited December 2004
Compex Legal Services, Inc.
Medical Holdings, Inc.
Exited October 2003
Regency Hospital Company
Pacer Propane Holding, L.P.
Exited December 1997
Sovereign Specialty Chemicals, Inc.
Exited January 2000; December 2004
Portfolio
Fund I
Jazz Pharmaceuticals, Inc.
Pre-Fund
Christiana Industries
Exited October 2007
Whitehall Products
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
RETURN TO PORTFOLIO COMPANIES
“Acadia is exceedingly proud to
Portfolio
partner with Waud Capital. We
share a common mission in
creating a world-class organization that sets the standard of
Acadia Healthcare Company, L.L.C.
WCP established Acadia Healthcare Company, L.L.C. to acquire, develop and operate
a network of behavioral health centers. Acadia provides world-class psychiatric care
to its patients in a variety of settings, including behavioral health schools, camps
and inpatient psychiatric facilities (“IPFs”). Behavioral health camps and schools
excellence in the treatment of
behavioral health and addiction
disorders. Waud Capital is an
invaluable resource, and we look
forward to many exciting years of
provide therapy and education to troubled adolescents. IPFs provide acute
success and
psychiatric care to children, adolescents, adults and seniors. Most children and
growth.”
adolescents are treated in less intensive IPF settings known as residential treatment
centers while patients with serious mental illness receive 24-hour acute care. People
are either referred to a behavioral health center by their physician, psychiatrist or
educational consultant, or identify a facility by its general advertisement. Common
ailments treated include ADHD, phobias, intermittent explosive disorder, panic
disorder, major depressive disorder, bipolar disorder and alcohol/drug abuse. Acadia
Healthcare’s mission is to create behavioral health centers where people receive care
that enables them to regain hope in a supportive, caring environment.
Industry:
Healthcare Services – Specialty Hospitals
Headquarters:
Alpharetta, Georgia
Date of Investment:
December 2005
Fund:
WCP Fund II
Acquisition Criteria
• Inpatient Psychiatric and Substance Abuse Hospitals
• Residential Psychiatric and Substance Abuse Hospitals
• Outpatient Psychiatric and Substance Abuse Hospitals
Hospital Openings
• Acadiana Addiction Center Lafayatte, LA - March 2009
• Riverwoods Behavioral Health System, Atlanta, GA - September 2008
• Acadia Hospital of Montana - September 2006
• Acadia Hospital of Hawaii - September 2006
• Acadia Hospital of Lafayette, LLC - June 2006
• Acadia Hospital of Longview, LLC - June 2006
Website:
www.acadiahealthcare.com
Trey Carter,
President and CEO,
Acadia Healthcare
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“Partnering with Waud Capital
Portfolio
presents an exciting opportunity
for our management team and
employees to work with an
investment firm who has success-
Advanced Reimbursement Management, L.L.C.
Advanced Reimbursement Management, L.L.C. (Advanced Reimbursement) is a
leading provider of revenue cycle management services focused on Medicaid
receivables. Advanced Reimbursement provides a suite of services to its clients,
including receivables management, post-payment review, denials management,
fully built a number of leading
healthcare companies. I believe
Waud Capital’s experience will
allow us to accelerate the growth
of Advanced Reimbursement
clinical auditing and eligibility services. Healthcare revenue cycle management is an
both organically and through
industry focused on helping providers receive proper and timely payment for the
acquisition.”
services they provide to patients. Demand for healthcare revenue cycle management
services continues to rise as providers increasingly face challenges associated with
declining reimbursement rates and complex and constantly-changing
reimbursement rules.
Industry:
Healthcare Services – Revenue Cycle Management
Headquarters:
Phoenix, Arizona
Date of Investment:
August 2008
Fund:
WCP Fund II
• Eligibility services
• Receivables management
- Medicaid
- Medicare
- Third-party payors
• Clinical auditing
Website:
www.advancedreimbursement.com
Connie Perez,
Chief Executive Officer,
Advanced Reimbursement
Management, L.L.C.
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“We are extremely pleased and
Portfolio
fortunate to have Waud Capital as
our partner. They work closely with
us as we refine our vision as a
leader in the residential and
Aquion Water Treatment Products (AWTP, LLC)
commercial water treatment
industry. Their ongoing support
Aquion Water Treatment Products (AWTP, LLC) comprises a number of strategic
and strategic insight have proven
business units serving the global water and air treatment markets: RainSoft,
to be invaluable in realizing our
ProSystems, and ClearWater Tech, LLC. RainSoft manufactures and markets
growth objectives.”
exclusive residential products through an extensive dealer network with over 200
locations worldwide. ProSystems comprises four separate business units: Erie
(control valves), Select Series (pre-engineered residential systems), Private Label
(customized systems), and Commercial & Industrial. ClearWater Tech manufactures
and markets water and air ozonation systems for both residential and commercial
disinfection applications.
Industry:
Consumer Services – Water and Air Treatment
Headquarters:
Elk Grove Village, Illinois
Date of Investment:
December 2005
Fund:
WCP Fund II
• Companies in the Residential Water Treatment industry:
- Established national and regional dealer network
- OEM’s and regional assemblers
- Large dealerships
- Equipment and component manufacturers
• Companies in the Commercial Water Treatment industry sector:
- Regional assemblers and distributors
- Equipment and component manufacturers
• Companies in the Ozone industry sector:
- Manufacturers of ozone-generating equipment
- Assemblers and distributors featuring ozone equipment
• Companies in the Air Treatment and Purification industry sector
• Companies in the Commercial Laundry industry sector
Add-on Acquisitions
• Erie Valve, Milwaukee, Wisconsin - October 2001
• Clearwater Technologies, San Luis Obispo, California - May 1999
Website:
www.aquionwater.com
Frank Kneller,
CEO, AWTP LLC
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“Waud Capital not only provides
Portfolio
strong financial backing and
expertise, but also shares my vision
of building a first-class infusion
business by providing quality care
CarePoint Partners, LLC
for our patients, outstanding
service for our customers, and a
WCP established CarePoint Partners, LLC to acquire or develop and operate a
satisfying work environment for
network of infusion pharmacies in North America. Infusion pharmacy therapy
our team members.”
involves the administration of medications and nutrients using intravenous (into
the bloodstream), subcutaneous (under the skin) and epidural methods (into the
membranes surrounding the spinal cord). Unlike pill-form medications, infused
medicines require patient-specific mixing, special preparation, supervised
administration and patient monitoring. Home therapy allows patients to receive
fluids and medications without the inconvenience or cost of a hospital visit.
Diagnoses that commonly require infusion therapy include infections that are
unresponsive to oral antibiotics, cancer and cancer-related pain, gastrointestinal
diseases or disorders, congestive heart failure, immune disorders, nutrition related
problems, multiple sclerosis, hemophilia and growth hormone deficiencies.
Industry:
Healthcare Services – Pharmaceuticals
Headquarters:
Cincinnati, Ohio
Date of Investment:
September 2007
Fund:
WCP Fund II
• Home Infusion
• Enteral Therapy
• Specialty Pharmacy Businesses
Add-on Acquisitions
• Praxair Infusion Network of Louisiana (Baton Rouge, Louisiana) - May 2009
• Option Care of Northeast Ohio (Youngstown, Ohio) - January 2009
• TheraPoint (Kingston, Pennsylvania) - December 2008
• Total Health Services (Clarksburg, West Virginia) - December 2008
• Care Partners (Morgantown, West Virginia) - November 2008
• Family Focus (Jacksonville, Florida) - June 2008
• CIVN (Pawtucket, Rhode Island) - February 2008
Website:
www.carepointpartners.com
Dana Soper, CEO,
CarePoint Partners, LLC
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“We are tremendously excited to
Portfolio
have partnered with Waud Capital
Partners. Waud Capital has
established an impressive track
record in healthcare services, and
Hospitalists Management Group
Hospitalists Management Group is a leading outsourced provider of hospitalist
physician programs to acute care facilities and community hospitals throughout
the United States. Hospitalists are physicians whose primary professional focus is
the general medical care of hospitalized patients. Hospitalists provide many
I believe their understanding of
hospital medicine and their
relationships in the health care
industry will allow us to accelerate
the growth of HMG.”
benefits to the constituents of medical care, including patients, payors and care
providers. Facilities that have implemented hospitalist programs note
improvements in clinical outcomes, increases in patient satisfaction, reductions in
average length of stay and greater efficiencies through the application of best
practices and quality management.
Industry:
Healthcare – Hospitalists Physician Program Provider
Headquarters:
Canton, Ohio
Date of Investment:
September 2006
Fund:
WCP Fund II
• Regional and local hospitalist physician management companies
• Hospitalist physician practices
Website:
www.hmgdoc.com
Dr. Stephen L. Houff, MD,
CEO, Hospitalists
Management Group
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“Waud Capital has added
Portfolio
tremendous value as an investor
and partner for Maxum. In
addition to providing capital to
support our growth, WCP has
Maxum Petroleum, based in Greenwich, Connecticut, is an affiliate of SPI Petroleum
LLC, an acquisition vehicle formed in 2004 by three leading private equity firms,
Waud Capital Partners, LLC, Northwest Capital Appreciation, Inc., and RBC Capital
Partners (through Cadent Energy Partners) to consolidate the fragmented
assisted us with recruiting,
upgrading our corporate
infrastructure, and sourcing
attractive acquisition candidates.
WCP’s extensive experience in
commercial fuel and lubricant distribution industry. To date, Maxum Petroleum or
consolidating industries has
its affiliates have acquired eight fuel and lubricant marketers, including Simons
helped our management team
Petroleum, Trevco, Hartney, Pecos (including its General Petroleum and Rainier
successfully close and integrate
Petroleum subsidiaries), Canyon State Oil, Transport Services of Oklahoma and
11 acquisitions in a 4 year period.”
Petroleum Products. Simultaneous with this acquisition, Maxum increased its credit
facilities (co-led by PNC Bank, National Association and JPMorgan Chase Bank,
N.A.) to over $400 million.
Industry:
Distribution – Petroleum Distribution
Headquarters:
Greenwich, Connecticut
Date of Investment:
2004
Fund:
WCP Fund I & II
• Petroleum products marketing and service providers in North America
Add-on Acquisitions
• Paulson Oil Company, Chesterton, IN – December 2007
• Farmington Oil Company, Farmington, NM – November 2007
• Lubricant blending facility, Balboa, Panama – November 2007
• Petroleum Products, Inc., Charleston, WV – May 2007
• Transport Services of Oklahoma, Inc., Weatherford, OK - October 2006
• Canyon State Oil Company, Inc., Phoenix, AZ - September 2006
• Pecos, Inc., Rancho Dominguez, CA – September 2006
• McLain Truck Service, Inc., Midland, TX - June 2006
• Hartney Companies, Chicago, IL - January 2006
• Trevco Inc., Craig, CO - June 2005
• Simons Petroleum, Inc, Oklahoma City, OK – April 2004
Website:
www.maxumpetroleum.com
Perot Bissell,
CEO, Maxum Petroleum
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“We selected Waud Capital as our
Portfolio
partner because they spent the
time upfront to understand our
business. Reeve Waud and his
team have really helped True
True Partners Consulting, LLC
Headquartered in Chicago, Illinois, True Partners was launched by WCP to develop a
nationwide independent tax and business advisory firm focused on helping public
companies and private enterprises navigate the numerous federal and state tax laws
and increasingly complex financial regulations. True Partners will provide “Big Four”
Partners launch its business. Their
experience and great business
judgment have allowed us to
progress much faster than
originally expected.”
technical expertise while avoiding the Sarbanes-Oxley-related conflicts that
companies offering both consulting and audit services face.
Industry:
Business Services – Tax and Business Advisory
Headquarters:
Chicago, Illinois
Date of Investment:
November 2005
Fund:
WCP Fund II
Website:
www.truepartnersconsulting.com
Cary D. McMillan,
Chief Executive Officer,
True Partners Consulting LLC
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“As our partner, Waud Capital
Portfolio
helped establish our strategic
vision and identify the factors we
focused on to accomplish our
goals. Additionally, with their
Alarm Security Group, L.L.C.
ASG Security is headquartered in Beltsville, Maryland, with full service operations in
the Mid-Atlantic/Washington, DC region and throughout the state of Texas. As one
of the 20 largest U.S. security alarm companies in the U.S., ASG provides security
systems, installation, service, leasing and monitoring to approximately 60,000
vast acquisition experience, Waud
Capital played an integral role in
our growth efforts. Given the
number of acquisitions we
completed, we often
subscribers in the commercial and high-end residential market segments. ASG's
communicated with Waud
service offerings include integrated video surveillance technologies, access control
Capital daily and they always
solutions and fire and burglar alarm systems. Waud Capital Partners sold ASG to
approached their relationship
Parthenon Capital in October 2007.
with me and my team fairly and
with integrity. While their days as
Industry:
Services – Security Alarm Installation and Monitoring
investors have come to an end, I
Headquarters:
Beltsville, Maryland
look forward to continuing my
Date of Investment:
July 2002
Fund:
WCP Fund I
friendship with Waud Capital in
Date Exited:
October 2007
the years to come.”
• Companies of any size located in ASG’s contiguous markets of Maryland or Texas
• At least $100,000 of recurring monthly revenue (“RMR”) in new markets
across the United States
Add-on Acquisitions
• Zartek Security, Philadelphia, Pennsylvania - February 2006
• Entrust Security, Dallas, Texas - January 2006
• Techtronics Security Company, Inc., Sellersville, Pennsylvania - October 2005
• Sentry Alarm Southwest, McAllen, Texas - August 2005
• Eagle Broadband Security, Houston, Texas - May 2005
• ProStar Security, Houston, Texas - March 2005
• *Alarm Concepts, Dallas, Texas - December 2004
• ABC Security Corporation, Annapolis, Maryland - December 2004
• *Space City Alarm, Houston, Texas - December 2004
• Evolution Security, Houston, Texas - December 2004
• *Tri-State Alarm, Baltimore, Maryland - August 2004
• Brinkman Security, Inc., Austin, Texas - July 2004
• *Security Dealer Funding, Texas - July 2004
• *Advance-Tech Security System, San Antonio, Texas - June 2004
• Transtate Security Systems, Laredo, Texas - June 2004
• *Alarm Control Technicians, Dallas, Texas - May 2004
• Argus Security Service, McAllen, Texas - April 2004
• *Guardian Alarms, Dallas, Texas - March 2004
• American Security Alarms, San Antonio, Texas - May 2003
• *Electronic Security Services, Houston, Texas - April 2003
*ASG purchased a portfolio of customer accounts from these companies
Website:
www.asgsecurity.com
Joe Nuccio,
President and CEO,
ASG Security
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“We are extremely excited to
Portfolio
welcome Waud Capital Partners
as a major shareholder. We have
a number of ideas on how we
can continue to grow our
Compex Legal Services, Inc.
Compex is a leading provider of outsourced litigation support services to law firms
and insurance companies located primarily in California, Florida and Texas. The
Company, which was formed in 1972, provides document retrieval and
management services, deposition reporting and process serving assistance.
Document retrieval services, which represents the majority of the Company’s
revenue base, includes the retrieval, reproduction and delivery of claimant records
(primarily medical) held by custodians such as hospitals and medical offices.
Industry:
Services – Outsourced Litigation Support Services
Headquarters:
Torrance, California
Date of Investment:
January 2004
Fund:
WCP Fund I
• Companies with similar or complementary service offerings in Compex's existing markets
of California, Florida and Texas
• Companies with similar or complementary service offerings and at least $1 million of
trailing twelve-month EBITDA in new markets
• Electronic discovery businesses with experienced employees and proprietary technology
(revenues greater than $3 million preferred)
Add-on Acquisitions
• American DataMed, Newport Beach, CA - June 2005
• OmniDox, Kansas City, MO - May 2005
Website:
www.compexlegal.com
business and we are confident
that Waud’s strategic insight and
access to capital will significantly
accelerate our growth.”
Jeff Bachmann,
CEO, Compex Legal Services, Inc.
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“Waud Capital is an important
Portfolio
group within our distinguished
team of investors. The firm’s
network of contacts and experience investing in the healthcare
Jazz Pharmaceuticals, Inc.
Jazz Pharmaceuticals is a Palo Alto-based company focused on improving the lives
industry should bring value as we
build our business.”
of patients through the development and commercialization of pharmaceutical
products that treat neurologic and psychiatric disorders. Jazz Pharmaceuticals is
creating innovative therapeutics by improving and expanding the uses of known
compounds, and is aggressively adding to its pharmaceutical product portfolio
through licensing, acquisitions and collaborations.
Industry:
Healthcare – Specialty Pharmaceuticals
Headquarters:
Palo Alto, California
Date of Investment:
April 2004
Fund:
WCP Fund I
Add-on Acquisition
• Orphan Medical, Minneapolis, MN - June 2005
Website:
www.acadiahealthcare.com
www.jazzpharmaceuticals.com
Dr. Sam Saks,
CEO, Jazz Pharmaceuticals
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“We were fortunate to partner
Portfolio
with a supportive and
like-minded investor. Waud
Capital Partners proved invaluable to us as a resource as we
Medical Holdings, Inc.
Medical Holdings, Inc. (DS Medical) is a leading supplier of consumable and durable
medical products to individuals with chronic conditions, including paralysis and
diabetes. The company offers customers access to over 55,000 products delivered
grew our business organically
and by acquisition. With WCP’s
help, we were able to maximize
value for our shareholders.”
directly to their homes on a regularly scheduled basis. In addition, DS Medical
provides its customers with comprehensive services, including completion of all
paperwork and reimbursement from Medicare, Medicaid and other payor sources.
WCP partnered with DS Medical's senior management in 1999 to acquire the
business from its founder. In October 2003, WCP sold DS Medical to MP TotalCare,
one of the largest providers of products and supplies to individuals with chronic
conditions.
Industry:
Distribution – Specialty Medical Products
Headquarters:
Lawrenceville, Georgia
Date of Investment:
October 1999
Fund:
WCP Fund I
Date Exited:
October 2003
Add-on Acquisitions
• The David L. Bowman Company (d.b.a. “Concerned Healthcare” and “Diamedic”)
Savannah, Georgia
October 2000
• Professional Medical Services
Savannah, Georgia
October 2000
Website:
www.dsmedical.com
Vance Wall,
President and CEO,
DS Medical
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“The Waud Capital team has a keen
Portfolio
sense of knowing when to step in
and lend a hand and when to
stand back and let the
management team work
Parish Publishing Solutions
Parish is a niche publishing company that produces advertising-supported weekly
church bulletins primarily for the Catholic Church. The weekly bulletins provide a
unique opportunity for local merchants and service providers to promote their
businesses and support the faith community with a small annual investment. The
company provides service for 450 parishes and 7,000 advertisers from facilities in
independently. They have a high
level of respect for the intimate
knowledge that the onsite
management team has that gives
them a unique perspective on
business issues.”
Sterling Heights, MI and Rochester, NY. While WCP owned the Company, Parish
upgraded its computer systems, production equipment, customer service and
accounting systems. In addition, the Company increased profitability by expanding
its markets to other religious groups and is currently active in expanding its
geographic territory.
Industry:
Services – Specialty Publications
Headquarters:
Sterling Heights, Michigan
Date of Investment:
January 1998
Fund:
WCP Fund I
Date Exited::
December 2004
Website:
www.parishnow.com
Bill Douglass,
Former President and CEO,
Parish Publishing Solutions
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“We at Regency are very
Portfolio
fortunate to be partnered with
Waud Capital. Their support in
strengthening our Board with
some of the best talent in
Regency Hospital Company, L.L.C
WCP formed Regency Hospital Company in 2001 by partnering with a highly
experienced group of managers with an outstanding record of success in the
long-term acute care (“LTAC”) industry. LTAC hospitals are specialized intensive care
facilities that focus on treating critically ill patients for extended periods of time.
healthcare, combined with their
efforts in working with us as a
team on the business and finance
side of our company, has allowed
Regency to prosper and set a
Regency currently operates nineteen hospitals around the country and has several
standard of excellence in the
more in active development.
LTAC industry.”
Industry:
Healthcare Services – Long-Term Acute Care Hospitals
Headquarters:
Alpharetta, Georgia
Date of Investment:
April 2001
Fund:
WCP Fund I
Hospital Openings
• Regency Hospital of Columbus - October 2007
• Regency Hospital of Cleveland East - July 2007
• Regency Hospital of Toledo - May 2007
• Regency Hospital of Cleveland West - April 2007
• Regency Hospital of Fort Worth - September 2006
• Regency Hospital of North Dallas - April 2006
• Regency Hospital of Jackson - April 2006
• Regency Hospital of Porter County - January 2006
• Regency Hospital of Cincinnati - January 2005
• Regency Hospital of Greenville - December 2004
• Regency Hospital of Springdale - September 2004
• Regency Hospital of Minneapolis - September 2004
• Regency Hospital of Central Georgia - April 2004
• Regency Hospital of Covington - April 2004
• Regency Hospital of Ravenna - March 2004
• Regency Hospital of NW Arkansas - November 2003
• Regency Hospital of Hattiesburg - November 2003
• Regency Hospital South Atlanta (East Point, Georgia) - August 2003
• Regency Hospital of Northwest Indiana (East Chicago, Indiana) - July 2003
• Regency Hospital of Odessa, Texas - January 2003
• Regency Hospital of Meridian, Mississippi - January 2003
• Regency Hospital of Akron, Ohio - April 2002
• Regency Hospital of Florence, South Carolina - July 2001
Website:
www.regencyhospital.com
Bill Anderson,
President and CEO,
Regency Hospital Company
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“Working with Waud Capital
Portfolio
Partners has provided our
management team with the
resources and support to position
our company as the world leader
Christiana Industries, L.L.C.
Christiana is a Chicago area-based manufacturer of highly engineered low-voltage
light assemblies, providing light sockets and wire harnesses to over 300 original
equipment manufacturers in more than 20 industries. WCP partnered with
management to acquire Christiana from a retiring owner in 1994. Since WCP’s
initial investment, Christiana has become QS9000 certified, moved its production to
a new facility in Monterey, Mexico, increased productivity by installing automating
production systems, converted from batch to cell manufacturing and improved
working capital management.
Industry:
Manufacturing – Low Voltage Light Assemblies
Headquarters:
Vernon Hills, Illinois
Date of Investment:
November 1994
Fund:
Pre-Fund WCP Investment
Date Exited:
October 2007
Website:
www.christianaindustries.com
in our core business.”
Hank Wisniewski,
President,
Christiana Industries
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
Portfolio
Pacer Propane Holding, L.P.
In 1995 WCP backed two senior industry executives to build through acquisition
Pacer Propane, a multi-state, retail propane distribution company. From its
founding until WCP sold its interest in late 1997, Pacer acquired seven propane
retailers in California, Illinois, Michigan, Oregon, Utah and Washington.
Industry:
Distribution – Retail Propane Distribution
Headquarters:
Redmond, Washington
Date of Investment:
January 1995
Fund:
Date Exited:
December 1997
Follow-on investments
• A-1 Propane
• Acme Propane
• Carmickle’s Propane Gas
• Don Cox Propane
• Utah LP Gas
• Valley Propane
• Pacer Propane
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
Portfolio
Sovereign Specialty Chemicals, Inc.
Sovereign was founded in 1996 by WCP, First Chicago Equity Capital and a
well-known senior industry executive to acquire specialty chemical businesses in the
highly-fragmented adhesives, sealants and coatings industries. By focusing on niche
products in attractive markets, Sovereign quickly grew to more than $350 million in
revenues. The company achieved substantial operational savings through on-site
management, reorganization/cost improvements, focused research and development
and technical service. In January of 2000, Sovereign was recapitalized in a $360
million transaction. At that time, Waud Capital Partners sold a significant portion of
its interests but retained 20% of its investment in the newly recapitalized company.
In December 2004, Sovereign was sold to Henkel Corporation for a transaction
value of approximately $575 million.
Industry:
Manufacturing – Specialty Chemicals
Headquarters:
Chicago, Illinois
Date of Investment:
March 1996
Fund:
Date Exited:
January 2000
December 2004
Add-on Acquisitions
• Packaging and Coatings Business of IMPAG AG of Switzerland - 2001
• Overprint Coatings business from Auchem, Inc. - 2000
• Imperial Adhesives, Inc. - 2000
• Croda Adhesives - 2000
• Flexible Packaging Coatings Division of Valspar Corporation - 1999
• Coatings & Adhesives Division of K.J. Quinn & Co., Inc. - 1998
• PL Brand Adhesives Division of ChemRex, Inc. - 1998
• Adhesives, Sealants and Coatings, N.A. Division of Laporte PLC - 1997
• Adhesives Systems Division of B.F. Goodrich - 1996
• Pierce & Stevens Corporation - 1996
Website:
www.sovereignsc.com
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
“Since the inception of our
Portfolio
partnership with Waud Capital
Partners in 1996, Whitehall
Products has grown by 350%.
Reeve and Ron’s support,
Whitehall Products, L.L.C.
Whitehall designs and manufactures an extensive range of decorative aluminum
products. Since being acquired by WCP, Whitehall has expanded its product
offerings and increased its productivity through accelerated production efficiencies
and modernization of its foundry. Whitehall also increased its revenue by opening
two permanent showrooms in Atlanta and Chicago to supplement its existing
guidance and encouragement
have enabled management to
completely transform the business
to the benefit of our customers,
employees, suppliers and
shareholders.”
catalog sales and distribution network.
Industry:
Consumer Products – Decorative Aluminum Products
Headquarters:
Whitehall, Michigan
Date of Investment:
July 1996
Fund:
Add-on Acquisitions
• Old Century Forge - May 2002
• Flora and Fauna - December 2001
Website:
www.whitehallproducts.com
Brad Bruns,
President and CEO,
Whitehall Products
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
Want to get in on the fun?
Waud Capital Partners welcomes investment proposals and referrals from business
owners, executives, investment bankers, lenders, business brokers, attorneys,
accountants and other parties. Potential transactions will be considered in a
confidential and timely manner by a WCP investment professional.
Waud Capital Partners, L.L.C.
300 North LaSalle Street, Suite 4900
Chicago, Illinois 60654
312.676.8400 Telephone
312.676.8444 Facsimile
[email protected]
Please direct proposals or inquires to [email protected] or any of the
investment professionals listed below.
Reeve B. Waud
312.676.8450
[email protected]
Grant Wilson
312.676.8421
[email protected]
Matthew W. Clary
312.676.8406
[email protected]
Kyle Webb
312.676.8403
[email protected]
David O. Neighbours
312.676.8407
[email protected]
Tripp Welge
312.676.8413
[email protected]
Chuck Edwards
312.676.8410
[email protected]
Albert Cantu
901.818.5619
[email protected]
Eric Gordon
312.676.8404
[email protected]
Gary Mecklenburg
312.676.8409
[email protected]
Matt London
312.676.8412
[email protected]
Mark D. Flower
312.676.8425
[email protected]
Jennifer Sammis
312.676.8426
[email protected]
Joe Verburgt
312.676.8427
[email protected]
Contact Us
ABOUT US
PORTFOLIO
NEWS
INVESTOR ACCESS
CONTACT US
MAP/DIRECTIONS
60
41
94
LAKE COOK ROAD
300 North LaSalle Street, Suite 4900 · Chicago, Illinois 60654
312.676.8400 Office · 312.676.8444 Fax · www.waudcapital.com
45
Lake Michigan
Directions to Waud Capital Partners
53
83
Directions from O'Hare Airport
294
18.1 miles - about 27 minutes (up to 50 minutes in traffic)
94
90
• Merge onto I-190 East – 3.9 mi
290
• I-190 East becomes I-90 East/Kennedy Expy East – 12.4 mi
53
41
90
190
• Take Exit 50B toward East Ohio Street – 1.1 mi
• Stay Straight to go onto West Ohio Street – 0.2 mi
O’HARE
94
290
• Turn Right onto North LaSalle Street – 0.3 mi
90
Directions from Midway Airport
83
355
11.74 miles - about 23 minutes (up to 45 minutes in traffic)
290
CHICAGO
88
• Turn slight right onto South Cicero Ave/IL-50 North – 1.8 mi
55
45
• Merge onto I-55 North/Stevenson Expy North – 4.8 mi
• Merge onto I-90 West/I-94 West via Exit 292A – 3.3 mi
294
MIDWAY
Greater Chicago
• Start out going North toward South Cicero Ave/IL-50 North – 0.8 mi
• Take the East Washington Blvd exit, Exit 51C – 0.1 mi
94
90
• Turn Right onto West Washington Blvd – 0.3 mi
• West Washington Blvd becomes West Washington Street – 0.2 mi
• Turn Left onto North Wacker Drive/North Upper Wacker Drive
• Continue to follow North Wacker Drive – 0.4 mi
• Turn Left onto North LaSalle Street – 0.1 mi

About us - Waud Capital Partners

Transcription

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