download the January 2014 Update

WESTVIEW UPDATE
WestView had a successful 2013
– Closed WestView Capital Partners III, L.P. with $430 million in capital commitments
– Two new portfolio company investments
 DavexLabs (L’ANZA)
 Apex Information Technologies
– Two successful exits
 RuffaloCODY
 Fitness Connection
– Dividend recapitalization at Graphic Controls
We have now completed twenty-one portfolio company investments and twenty-four add-on acquisitions, building upon our
long-standing reputation as both a minority and majority investor in lower middle market growth companies
WestView’s flexible approach with regard to ownership and use of leverage continues to be well positioned for today’s
environment, enabling lower middle market owner/operators to achieve a number of business objectives:
– Realize meaningful liquidity while maintaining significant equity ownership
– Raise capital for both growth and acquisitions
– Partner with an experienced capital provider to accelerate growth
INVESTMENT CRITERIA
WestView Capital Partners is focused exclusively on partnering with managers of lower middle market companies to
help them achieve the strategic, financial and operational objectives of their businesses.
Transaction Types: Minority and majority recapitalizations, acquisition financings, growth financings, buyouts and
consolidations
Investment Size: $10 to $50 million. Larger investments made through co-investment of our limited partners and other coinvestors
Company Criteria:
Growth in historical and projected financial performance
Operating profits between $3 and $20 million
Sustainable competitive advantages and strong market position
Targeted Industries:
Business Services
Software and IT Services
Consumer Products and Retail
Healthcare Services
Industrial and
Manufacturing
2013 WESTVIEW ACTIVITY
WestView Capital Partners III,
L.P.
$430,000,000
October 2013
PORTFOLIO COMPANY INVESTMENTS
Recapitalization
Majority recapitalization
July 2013
December 2013
PORTFOLIO COMPANY EXITS
Recapitalization by
Summit Partners
Recapitalization by
LNK Partners
May 2013
September 2013
CURRENT PORTFOLIO COMPANIES
Advanced Technology Services
Peoria, IL
www.advancedtech.com
Provider of outsourced maintenance services designed to help
manufacturing and other commercial enterprises maximize
the utilization and extend the useable life of their factory
production equipment and technology assets.
Apex Information Technologies
St. Paul, MN
www.apexinformationtech.com
Provider of back-end revenue billing solutions. Through the
Company’s proprietary software-as-a-service platforms, Apex
provides electronic and paper statement processing, electronic
document presentation solutions and a feature-rich online
payment offering.
DavexLabs (L’ANZA)
Santa Monica, CA
www.lanza.com
Leading independent hair care company exclusively dedicated
to the professional salon channel. Under its L’ANZA brand,
the Company develops and markets a complete line of highperformance premium salon hair care products including hair
color, shampoos, conditioners and styling products.
Provider of revenue cycle management software-as-a-service.
The Company’s products assist healthcare providers in
automating and enhancing workflow with regard to claims
review/editing, denials management, eligibility verification
and payor connectivity.
eSolutions
Olathe, KS
www.ecorpnet.com
Graphic Controls
Buffalo, NY
www.graphiccontrols.com
LDiscovery
McLean, VA
www.ldiscovery.com
Park Place Technologies
Cleveland, OH
www.parkplacetechnologies.com
Peerless Industrial Group
Winona, MN
www.peerlesschain.com
Resource
Columbus, OH
www.resource.com
SpectorSoft
Vero Beach, FL
www.spectorsoft.com
Thorne Research
Sandpoint, ID
www.thorne.com
VaultLogix
Danvers, MA
www.vaultlogix.com
Manufacturer of consumables utilized in a variety of niche
applications including medical supplies, security-enabled
point of sale (“POS”) products, and a variety of specialty
cards, charts and tickets.
Leader in end to end e-Discovery management solutions from
data collection and forensic investigations, Early Case
Assessment, ESI processing, web based document review,
hosting and trial support.
Provider of outsourced third-party data center hardware
maintenance. The Company specializes in multi-vendor
support for servers, storage and network equipment ensuring
maximum system uptime for its clients with reduced costs.
Largest US manufacturer of industrial, marine, hardware and
traction chain. Its products are sold under the Peerless,
ACCO, Jeannette L’etallier, SCC and Weissenfels brands.
Peerless Industrial Group is recognized as a national leader in
the chain and fitting industry.
Leading interactive marketing services firm with expertise in
digital design & strategy, social media and mobile commerce.
Client base includes globally-recognized companies such as
P&G, Nestlé, Victoria’s Secret, The Home Depot and Kohl’s.
Market leader in PC monitoring and surveillance software for
enterprise and consumer environments. The Company’s
products record emails, chats/IM, web sites visited, file
transfer activity, social networking activity and take
computer screen snapshots.
Leader in the formulation, manufacture and distribution of
hypo-allergenic, premium natural supplements sold
exclusively through licensed health care practitioners. Its
products are recognized as the finest, purest, highest quality
dietary supplements available.
Leading nationwide provider of cloud data backup and
disaster recovery services to the small and medium-sized
businesses. VaultLogix’s service, powered by proprietary
software, is sold both direct and through channel partners.
PAST PORTFOLIO COMPANIES
Body Central
Jacksonville, FL
www.bodyc.com
Executive Health Resources
Newtown Square, PA
www.ehrdocs.com
Fitness Connection
McLean, VA
www.fitnessconnectionusa.com
OneNeck IT Services
Scottsdale, AZ
www.oneneck.com
Leading multi-channel, value priced women’s specialty
retailer. The Company operates approximately 200 stores and
also offers its products through mail-order catalogue/ecommerce operations. In 2010, Body Central completed an
initial public offering (NASDAQ: BODY).
Provider of clinical revenue cycle management and staffing
solutions to hospital systems nationwide. The Company
assists clients in managing payor denials, improving hospital
efficiency and maintaining governmental claims compliance.
In 2007, EHR was recapitalized by ABRY Partners.
Fitness Connection (formerly known as Titan Fitness)
operates 28 health clubs in North Carolina, Texas and
Nevada. In 2013, Fitness Connection was recapitalized by
LNK Partners.
Provider of enterprise application management and managed
hosting services including ERP application management,
database administration, data center operations and desktop
outsourcing. In 2011, OneNeck was acquired by Telephone
and Data Systems, Inc. (NYSE: TDS).
Providea Conferencing
Camarillo, CA
www.provideallc.com
Leading provider of video conferencing solutions and
managed services. In 2012, Providea was acquired by
Strategic Products and Services (SPS).
Radiac Abrasives
Salem, IL
www.radiac.com
Leading manufacturer of bonded and super abrasive grinding
wheels to over 20,000 customers across various industrial
markets. In 2009, Radiac was sold to Tyrolit
Schleifmittelwerke Swarovski KG.
Leader and pioneer of outsourced program management
serving nonprofit organizations and institutions of higher
education. The Company’s technology-enabled managed
services focus on fundraising and enrollment management. In
2013, RuffaloCODY was recapitalized by Summit Partners.
Provider of enterprise and mobile communication software
and services to public safety customers including 911 call
centers, police, fire and emergency medical services agencies.
In 2010, TriTech was recapitalized by Friedman Fleischer &
Lowe.
Leading provider of mobile device management software and
mobile enterprise application platform software. In 2012,
Wavelink was acquired by LANDesk Software.
RuffaloCODY
Cedar Rapids, IA
www.ruffalocody.com
TriTech Software Systems
San Diego, CA
www.tritech.com
Wavelink Corporation
Midvale, UT
www.wavelink.com
INVESTMENT PROFESSIONALS
Carlo von Schroeter
Managing Partner
(617) 261–2051
Richard Williams
Managing Partner
(617) 261–2052
[email protected]
[email protected]
John Turner
General Partner
(617) 261–2053
Matthew Carroll
General Partner
(617) 261–2054
Jonathan Hunnicutt
General Partner
(617) 261–2055
[email protected]
[email protected]
[email protected]
Thomas Reardon
Principal
(617) 261–2063
Gregory Thomas
Vice President
(617) 261–2062
Sean Sullivan
Senior Associate
(617) 261–2057
Jeffrey Clark
Associate
(617) 261–2065
Kevin Twomey
Associate
(617) 261–2058
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]