• Date of Investment November 2023
• Company HQ Lebanon, NH
• Industry Segment Producer of monoclonal antibodies for in vivo and in vitro pre‐clinical research
• Website www.bioxcell.com

• ---

  Contact Craig Majernik
  Gregory Bondick
  

Bio X Cell’s portfolio of 400+ monoclonal antibodies (mAbs) are used by 1,500+ academic, government and commercial customers in a variety of research areas including cancer, immunology and neuroscience. BXC supplies research use only mAbs to customers in more than 50 countries throughout the Americas, Europe and Asia, and has a growing list of 20,000+ research publication citations.

Acquisition Strategy

Complementary life science tools and reagents serving the pre‐clinical research market

• Date of Investment November 2023
• Company HQ Tulsa, OK
• Industry Segment Manufacturer of air‐cooled heat exchangers used in natural gas infrastructure, chemical processing, and emerging carbon capture applications
• Website www.axh.com

• ---

  Contact Robert Quandt
  Jeffrey Miehe
  

AXH is a leading designer and manufacturer of air-cooled heat exchangers, providing a mission critical role in cooling liquids or gases, protecting end user equipment from damage or corrosion that is commonly created as a by-product of natural gas compression. Founded in 2006, AXH specializes in custom designed, high mix solutions serving primarily the natural gas and LNG markets, as well as industrial, process chemical, and emerging carbon capture applications.

Acquisition Strategy

Manufacturers or service providers involved with heat exchangers or thermal management

• Date of Investment September 2022
• Company HQ Glenwillow, Ohio
• Industry Segment Manufacturer of specialty wires and cables serving the niche high temperature and fire protection markets
• Website www.radix-wire.com

• ---

  Contact Robert Quandt
  Gregory Bondick
  

Manufacturer of specialty wires and cables serving the niche high temperature and fire protection markets. Radix’s wires are primarily customized and application specific, and designed to operate reliably in challenging environments.

Acquisition Strategy

Providers of high temperature, harsh environment, custom, and other specialty wires, cables and connectors.

• Date of Investment December 2021
• Company HQ Lebanon, Ohio
• Industry Segment Manufacturer of heavy-duty equipment for vegetation and land management
• Website www.fecon.com

• ---

  Contact Matthew Anderson
  Gregory Bondick
  

Manufacturer of heavy-duty mulching equipment, including attachments, carriers and parts used for vegetation and land management.

Acquisition Strategy

Providers of mulching attachments, parts and carriers used for vegetation and land management

• Date of Investment November 2021
• Company HQ Fort Worth, Texas
• Industry Segment Nuclear Power Industry Products and Services
• Website www.paragones.com

• ---

  Contact Robert Quandt
  Jeffrey Miehe
  

Paragon Energy Solutions is a critical parts and services provider to the nuclear power industry, helping to advance zero carbon energy. The Company serves both large nuclear utility power plants and next generation advanced Small Modular Reactors (SMRs).

Acquisition Strategy

Testing, qualification and regulatory compliance services, products, technologies and distribution supporting current and next generation nuclear power

• Date of Investment June 2021
• Company HQ Memphis, Tennessee
• Industry Segment Document management and storage
• Website www.vitalrecordscontrol.com

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  Contact Ryan Pertz
  Jeffrey Miehe
  

Vital Records Control (“VRC”) provides a suite of information governance services and solutions. The Company offers offsite records storage, climate controlled storage, release of information services, vaulting services for media backups, destruction, mobile shredding, imaging services, records indexing services, and medical workflow solutions. VRC provides customers with an industry leading security and chain-of-custody of sensitive documents, enabled by the Company's proprietary RF-based tracking system for stored records and strong security protocols. Further, VRC's proprietary software provides customers with reporting for document tracing, scan-on-demand, and simplified invoicing. VRC currently operates in more than 30 states throughout the US.

Acquisition Strategy

Records storage providers (documents, film and regulatory-driven sample storage), shredding, imaging, ROI and medical workflow solutions, and vertically focused day forward scanning.

• Date of Investment December 2020
• Company HQ San Diego, California
• Industry Segment Provider of Intelligent Parking Systems
• Website www.ipsgroupinc.com

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  Contact Ryan Pertz
  Jeffrey Miehe
  

IPS is an industry pioneer delivering Intelligent Parking Systems and payment software to transportation and parking operations globally. The Company provides a fully-integrated Smart Parking Management Solution including single-space meters, multi-space pay stations, enforcement, permitting, and vehicle detection sensors, integrated via SaaS management software with Advanced Data Analytics. 

Acquisition Strategy

Parking, mobility, and smart city solutions, encompassing hardware, software and payments. Installed base of meters, enforcement, and parking management solutions.

• Date of Investment February 2020
• Company HQ Torrance, California
• Industry Segment Outsourced medical records retrieval and litigation support services
• Website www.compexlegal.com

• ---

  Contact Ryan Pertz
  Jeffrey Miehe
  

Compex is a leading, tech-enabled provider of outsourced medical records retrieval and litigation support services nationally.  Founded in 1972, Compex has a record of providing high quality service, fast turnaround times and proven scalability to a blue-chip customer base including insurance carriers, third party administrators and law firms.

Acquisition Strategy

Medical records retrieval service providers or related technology platforms, litigation support services, and tech-enabled outsourced insurance claims workflow providers

• Date of Investment October 2019
• Company HQ Addison, Illinois
• Industry Segment Commercial kitchen & replacement OEM parts
• Website www.partstown.com

Parts Town is a leading distributor of genuine OEM repair and maintenance parts for commercial kitchen equipment serving the foodservice parts, equipment and supplies market. The Company provides mission critical products that enable commercial kitchens to operate equipment safely and effectively, and also provides locally focused field service and technical support.  Through its e-commerce platform, the Company offers its local, national and international customers broad access to parts inventory and provides highly customized solutions to food equipment manufacturers, food equipment service companies and restaurants. 

• Date of Investment September 2019
• Company HQ Plainville, MA
• Industry Segment Professional eyecare products & accessories
• Website www.hilcovision.com

• ---

  Contact Matthew Anderson
  Gregory Bondick
  

Hilco is a global distributor of branded and consumable professional eyecare products and optical accessories throughout the eye healthcare supply chain. The Company has a highly diverse suite of branded and non-branded optical products and accessories, offering more than 30,000 SKUs and an expansive distribution network, uniquely allowing the Company to serve both optical chains and independent optical locations alike as a "one-stop-shop."

Acquisition Strategy

Products, technologies or distribution related to eyecare products and accessories used in or sold through the professional or retail eye healthcare channel

• Date of Investment February 2019
• Company HQ Trevose, PA
• Industry Segment Manufacturer of hermetic packages and engineered components
• Website www.hermeticsolutions.com

• ---

  Contact Craig Majernik
  Gregory Bondick
  

Hermetic Solutions Group ("HSG") is a leading provider of advanced microelectronic packages, engineered components and interconnect solutions designed to ensure critical electronic systems function reliably in demanding environments where it is essential to control for factors such as weight, space, vibration, temperature, moisture, etc. HSG’s products support new build and system upgrades of high priority defense platforms, as well as niche applications in medical device, optical networking and industrial products.

Acquisition Strategy

Manufacturers of hermetic products, including connectors and electronic components, or similar products or technologies directly adjacent to hermetic packages, serving the aerospace and defense, medical device or other industrial markets.

• Date of Investment June 2018
• Company HQ Findlay, Ohio
• Industry Segment Engraving and Signage Products
• Website www.trgrow.com

• ---

  Contact Robert Quandt
  Gregory Bondick
  

TRG is a leading manufacturer and distributor of materials for the identification, tagging, signage, personalization, and maker markets, through the Johnson Plastics Plus and Rowmark brands. 

Acquisition Strategy

Products related to identification, tagging, signage and personalization end markets. Technologies covering specialty acrylics, sublimation, heat transfer, engraving, digital printing, and 3-D printing.

• Date of Investment October 2016
• Company HQ Norwood, Massachusetts
• Industry Segment Analytical test and measurement instruments
• Website www.aicompanies.com

Advanced Instruments (“AI”) designs and manufactures analytical test and measurement instruments and consumables, serving an installed base of thousands of loyal end users in over 90 countries. AI is a leading authority on the application of Freezing Point Depression “FPD” technology for measuring the osmolality of solutions, a critical process analytical technology in biotech applications, including the rapidly growing fields of bioprocessing, cell and gene therapies. AI also serves the global clinical laboratory and food and beverage quality/safety testing markets with its suite of FPD testing products, and is developing a growing range of innovative instruments and consumables for use in microbiology and hematology applications.

AI was sold to Patricia Industries in September 2020.

• Date of Investment September 2016
• Company HQ Huntington Beach, California
• Industry Segment Power conversion and battery-related products
• Website www.mission-critical-electronics.com

• ---

  Contact Matthew Anderson
  Jeffrey Miehe
  

Mission Critical Electronics (“MCE”) is a market leading provider of power conversion, battery charging, and battery products within niche specialty vehicle, public safety, marine and industrial markets under multiple operating brands: Kussmaul, Newmar, ASEA, Power Products, American Battery Charging, and Xantrex. The Company focuses on critical system applications where durability, reliability, and performance are essential to deliver immediately accessible power. MCE’s solutions address application specific requirements for 4,000 customers across 2,000+ branded SKUs. MCE has continuously provided leading product quality and reliability, with high levels of service that have enabled it to build strong reputations and customer loyalty in its served markets.

Acquisition Strategy

Providers of power electronics, battery chargers, and battery and battery-related products and services.

• Date of Investment October 2015
• Company HQ Fort Wayne, Indiana
• Industry Segment Commercial kitchen & OEM replacement parts
• Website www.heritageparts.com

Heritage is a leading independent distributor of 100% genuine OEM replacement and repair parts for commercial kitchen equipment serving the foodservice parts, equipment and supplies market. The Company provides mission critical products that enable commercial kitchens to operate equipment safely and effectively. Heritage provides more than 43,000 stocked SKUs and has access to over 100,000 total SKUs, acting as a one-stop-shop provider to its customers. The Company partners with over 800 foodservice OEMs to source its products, delivering a high volume of low dollar transactions and a suite of maintenance and repair services to over 52,000 customers in the US and Canada.

• Date of Investment October 2014
• Company HQ Batavia, IL
• Industry Segment Science-oriented educational products and content
• Website www.flinnsci.com

• ---

  Contact Jeffrey Miehe
  Matthew Anderson
  

Flinn Scientific is a leading multichannel marketer of science-oriented educational products and content to the K-12 and Higher Education markets, offering a comprehensive product portfolio of over 8,400 private label and third party SKUs including packaged chemicals and solutions, laboratory equipment, and laboratory activity kits. In addition, the company provides SaaS teaching solutions and lab management software. The company actively sells to over 29,000 schools and 48,000 teachers across the US and Canada.

Acquisition Strategy

Science/Engineering oriented content and lab supply providers to the education market (K-12, Higher Ed).

• Date of Investment December 2013
• Company HQ Elon, North Carolina
• Industry Segment Specialty valve and flow control products supplier
• Website www.regoproducts.com

RegO Engineered Controls International (“RegO”) is a leading global provider of mission critical, highly engineered flow control products used in the transportation, delivery, and storage of liquefied petroleum gas (“LPG”), liquefied natural gas (“LNG”), and cryogenic industrial gases. The company designs and manufactures a comprehensive range of flow control valves and regulators that are sold to domestic and international markets and are used in residential, industrial and clean energy transport applications. RegO sells products under industry leading brands RegO, Goddard, Macro and Superior, across the Americas, Europe, and Asia.

RegO was sold to Dover Corporation in December 2021.

• Date of Investment July 2013
• Company HQ Matawan, New Jersey
• Industry Segment Specialty hardware components, sub-assemblies and plumbing products for commercial kitchens
• Website www.componenthardware.com

• ---

  Contact Craig Majernik
  Gregory Bondick
  

Component Hardware Group (“CHG”) is a leading supplier of mission critical hardware components, value added sub-assemblies, and plumbing products to the foodservice equipment (“FSE”) industry. A unique ability to provide low volume, high mix product quantities on a just-in-time basis, coupled with in-house engineering capabilities and a global sourcing infrastructure, make CHG a critical supply chain partner for its customers, which include FSE OEMs, fabricators and restaurant chains.

Acquisition Strategy

U.S. manufacturer to expand domestic supply capabilities for sub-assemblies, or product lines (e.g., electrical/electronics & controls), serving FSE or adjacent industries.

• Date of Investment June 2012
• Company HQ Jacksonville, Florida
• Industry Segment Laboratory Testing & Data Analysis
• Website www.itelinc.com

GCS, headquartered in Jacksonville, Florida, with operations in Ontario, Canada, provides mission critical laboratory testing services and data analysis to insurance companies. GCS, which operates under the ITEL brand in the United States, tests damaged flooring, roofing and siding samples submitted by  property insurers, claims adjusters and homeowners to determine the fair value to replace the policy’s holders damaged materials with a like kind and quality product. Additionally, GCS provides matching services for siding and roofing products. The Company serves as an independent lab and data source to ensure that all parties, including the policyholder, insurer and adjuster involved in the claims process are treated fairly. GCS is a leader in the industry and utilizes a proprietary database and testing methodology to provide highly accurate tests results within a 24 hour time frame.

Global Claims was sold to PNC Riverarch Capital in September 2017.

• Date of Investment August 2011
• Company HQ Costa Mesa, California
• Industry Segment Wastewater Treatment
• Website www.jwce.com

Headquartered in Costa Mesa, California, with operations in California, Georgia, the UK and China, JWC is one of the most recognized brands in the wastewater treatment equipment industry. JWC manufactures and services over 200 highly engineered variations of grinders, screens and processing systems, including the legendary Muffin Monster sewage grinder. Over 25,000 Muffin Monsters are installed globally to grind up the solid debris that ends up in wastewater pump stations, pipelines and sludge lines. The dual-shafted grinder protects pumps and downstream systems from clogging and potential damage.

JWC was sold to Sulzer Ltd. in January 2018.

• Date of Investment May 2011
• Company HQ Buffalo, New York
• Industry Segment Protective Plastic Products
• Website www.caplugs.com

A leader in the product protection industry for 60 years manufacturing caps, plugs, tubing, containers, edge liners, fasteners, netting, and masking products. The Company's line of protective closures are used in a wide range of industries and are mission critical to its customers throughout manufacturing, transportation and storage. Caplugs operates through a global footprint of four manufacturing and distribution facilities strategically located on the East and West coasts of the United States and in China. The Company specializes in injection molding, vinyl-dip molding and plastic extrusion, producing approximately 2 billion pieces per year.

Caplugs was sold to Berwind Consolidated Holdings, Inc. in March 2015.

• Date of Investment December 2008
• Company HQ Brooklyn Park, Minnesota
• Industry Segment Private Label Shelf-Stable Dinners & Side Dishes
• Website www.stspecialtyfoods.com

A leading North American manufacturer of private label and store branded, dry shelf-stable dinners and side dishes. The Company serves a diverse customer base in the grocery retail, discount retail, wholesale, mass merchandiser, and specialty retail channels. Macaroni and cheese dinners, add-meat skillet dinners, rice dinners, and meatless side dishes are among the many products the Company manufactures.

S.T. Specialty Foods was sold to Treehouse Foods, Inc. (NYSE: THS) in October 2010.

• Date of Investment February 2008
• Company HQ Irvine, California
• Industry Segment Electronic Components & Cable Assemblies
• Website www.pasternack.com

A leading multi-channel, business-to-business direct marketer of radio frequency, microwave and fiber optic connectors, adapters, cables, cable assemblies and other components to over 27,000 companies in over 75 countries globally. The Company's products are used in a wide variety of electronics-based applications, including electronic instrumentation, military/aerospace electronics, telecommunications equipment, medical, industrial and transportation equipment, as well as computers, peripherals, and office equipment.

Infinite RF was sold to Genstar Capital in May 2016.

• Date of Investment June 2007
• Company HQ Mobile, Alabama
• Industry Segment Automotive Aftermarket
• Website www.bbbind.com

A leading supplier of remanufactured and new starters and alternators for the automotive, light truck, and heavy-duty vehicle aftermarket. BBB has over 2,000 employees and serves a diverse customer base of warehouse distributors, independent automotive parts retailers, and big-box automotive parts retailers.

BBB Industries was sold to a financial buyer in November 2014.

• Date of Investment March 2007
• Company HQ Cincinnati, Ohio
• Industry Segment Screening & Separation Equipment
• Website www.rotex.com

A pioneer and global leader in the development of screening and separation equipment used in a broad range of process industries, including industrial minerals, food, grain, chemicals and plastics. Rotex specializes in providing high-volume, solid-to-solid gyratory separation equipment to customers around the world who rely on Rotex machines to deliver 24/7 performance, consistent product quality and precise end product output.

Rotex was sold to Hillenbrand, Inc. (NYSE: HI) in August 2011.

• Date of Investment August 2006
• Company HQ Granite Quarry, North Carolina
• Industry Segment Taxidermy Forms & Supplies
• Website www.mckenziesp.com

A leading designer, manufacturer and catalog retailer of taxidermy forms and supplies, which caters to the enthusiast-driven hunting and fishing markets. McKenzie has demonstrated consistent sales and earnings growth due to a combination of selective acquisitions and organic growth.

McKenzie was sold to a financial buyer in March 2012.

• Date of Investment June 2005
• Company HQ Vacaville, California
• Industry Segment Beverage & Food Dispensing Equipment
• Website www.wunderbar.com

A global leader in the design, development and manufacture of innovative dispensing solutions for the food service and beverage industries. ABC's proprietary products include a leading hand-held soft drink and juice dispenser, an array of condiment and sauce dispensing products, and liquor and draft beer dispensing systems.

Automatic Bar Controls was sold to Middleby Corporation (Nasdaq/NGS: MIDD) in December 2013.

• Date of Investment October 2004
• Company HQ Oklahoma City, Oklahoma
• Industry Segment Web Processing Equipment
• Website www.maxcessintl.com

A global market leader providing highly engineered, mission critical components used in web process manufacturing applications. The Company's line of web accessory products is the broadest in the industry and includes web-guiding systems, winding products, slitting products and systems tension controls, and inspection products. Maxcess equipment is manufactured in the United States and Europe, and sold globally under the Fife, Tidland and MagPowr brands.

Maxcess was sold to a strategic buyer in January 2014.

• Date of Investment June 2001
• Company HQ Mahwah, New Jersey
• Industry Segment Pharmaceutical & Biotechnology Marketing
• Website www.propelhealth.com

A leading pharmaceutical marketing services firm specializing in providing a broad range of strategic value-added services to pharmaceutical and biotechnology companies worldwide. HealthSTAR’s product offering includes advertising agency services, continuing education, sample fulfillment, patient recruitment, physician meetings and symposiums, as well as direct-to-customer marketing through controlled venues.

• Date of Investment February 2001
• Company HQ Concord, Massachusetts
• Industry Segment Environmental Consulting

An environmental consulting company specializing in remediation consulting for contaminated industrial sites with a focus on the petroleum, transportation and utility industries. RETEC’s senior management team has a 15-year track record of consistently and profitably growing the business ahead of industry growth rates. Over this period the Company has developed strong, long-standing relationships with a core group of key clients, providing a solid base on which to continue to grow the business both organically and through acquisitions.

RETEC was sold to AECOM Technology Corps. in January 2007.