Medicap Pharmacies, Inc.
West Des Moines, IA

Subordinated Debt: $6,000,000 | Date: 11/96 | Management Buyout & Growth Capital

Founded in 1971, Medicap Pharmacies, Inc. is a franchiser of small footprint (i.e. 1,000 - 1,600 sq. ft.) pharmacies. With over 140 locations, the Company is the 18th largest pharmaceutical chain in the country, based on the number of stores. The overwhelming majority of Medicap stores are owned by the pharmacist / manager. Each store focuses exclusively on the sale of prescription pharmaceuticals and value-added pharmacist services like patient counseling

Irvine Optical Company, L.L.C.
Burbank, CA

Subordinated Debt: $5,750,000 | Date: 3/97 | Management Buyout & Growth Capital

Irvine Optical Company, L.L.C. manufactures handling, sorting, and inspection equipment used in the manufacture of semiconductor wafers. The Company’s product lines include machinery that manipulates wafers into view of microscopes for inspection (micro-inspection systems), products that manipulate wafers in front of bright lights for inspection by the human eye (macro-inspection systems), and handling and sorting equipment - including related logistics and operator interface software - used to direct the flow of the wafers within manufacturing cells (wafer handling/sorting systems).

Prelude Systems, Inc.
Dallas, TX

Subordinated Debt: $1,750,000 | Date: 5/97 | Growth Capital

Prelude Systems, Inc., based in Dallas, TX, develops, markets, and installs computer hardware and software business solutions for multi-site distribution companies. The Company was founded in 1979 and has an installed base of over two hundred systems nationwide. The Company’s products are best suited for mid-sized distributors with annual revenues between $10MM and $250MM requiring computer systems to support between 20 and 1,000 users.

Palestra/SFI, L.L.C.
Chicago, IL

Subordinated Debt: $2,500,000 | Date: 7/97 | Leveraged Buyout

Salasnek Fisheries, Inc. is a Detroit-based seafood distribution company founded in 1891. The Company distributes seafood throughout the greater Detroit metropolitan area and maintains sales offices in Indiana and Ohio. Salasnek is the dominant fresh seafood distributor in Southeastern Michigan, having acquired its largest competitor, Northwest Foods, in November 1995.

Concrete Cutting & Breaking, Inc.
Kentwood, MI

Subordinated Debt: $3,700,000 | Date: 7/97 | Growth Capital

Founded in 1974, Concrete Cutting and Breaking, Inc. provides concrete cutting, sawing, boring, and breaking services to contractors in all segments of the construction industry. With branches located throughout the Eastern United States, CC&B is a leader in the controlled removal of all types of concrete structures including bridges, roads, and buildings.

Hahn Elastomer Corporation
Plymouth, MI

Subordinated Debt: $6,000,000 | Date: 8/97 | Management Buyout & Growth Capital

Hahn Elastomer Corporation manufactures and distributes functional elastomeric extrusions/co-extrusions, die-cut parts and molded rubber products to the heavy appliance and automotive industries. The Company’s primary competitive strength is its ability to reliably manufacture complex extrusions/co-extrusions (a seamless fusion of two elastomers into a single functional component) to demanding tolerances.

BIW Connector Systems, L.L.C.
Santa Rosa, CA

Subordinated Debt: $6,500,000 | Date: 12/97 | Leveraged Buyout

BIW Connector Systems, Inc. manufacturers highly-engineered patented electrical connectors and cable/connector systems for harsh and demanding environments. The Company’s connectors/cables are used in crude oil production, aircraft ground power, military, underwater, and various other applications. The end users of BIW’s products include the petroleum companies, oil field service/equipment companies, the major airlines, and the U.S. government.

PWD Holding Company
West Bloomfield, MI

Subordinated Debt: $3,300,000 | Date: 12/97 | Management Buyout

PWD Holding Company, located in West Bloomfield, MI, is the exclusive distributor of Pella window and door products to Southeast Michigan. The Company sells to local and national home builders, professional remodelers and homeowners. Pella Corporation is the second largest window manufacturer in the US and its windows are widely considered to be the best aluminum-clad wood product in the market. PWD is one of Pella’a largest and most profitable distributors.

Morley Candy Makers, Inc.
Clinton Township, MI
www.morleycandy.com

Subordinated Debt: $5,000,000 | Date: 6/98 | Recapitalization & Growth Capital

Specialized Packaging Group, Inc.
Hamden, CT

Subordinated Debt: $4,500,000 | Date: 8/98 | Leveraged Buyout

Specialized Packaging Group, Inc. is a certified minority owned converter of box-board into packaging for consumer products companies such as Proctor & Gamble, Unilever, and Colgate-Palmolive. The Company operates two state-of-the-art plants that are capable of producing a wide variety of packaging and graphics. The Company has developed a reputation for its ability to produce technically challenging packaging solutions for its customers.

Brown Plastics Machinery, L.L.C.
Beaverton, MI
www.brown-machine.com

Subordinated Debt: $2,500,000 | Date: 12/98 | Leveraged Buyout

Brown Plastics Machinery, L.L.C. initially was a consortium of five disparate companies, all involved in the manufacture and rebuilding of plastics industry machine tools. Since the acquisition of the companies, three have been sold. Of the remaining two, the larger is Brown Machine a manufacturer of rotary thermoforming equipment used to produce a wide variety of plastic goods ranging from disposable plates to gas tanks. The smaller is EPCO, a contract rebuilder/refurbisher of machine tools.