LVC Develops Outstanding Businesses
From 2001 to the present, LongueVue Capital has made targeted investments in lower middle market companies from a variety of industries. As a result, we have developed outstanding businesses and created substantial value for all stakeholders. Here are select examples of our successes:
Azimuth is a leading manufacturer of precision components for OEMs and aftermarket distributors in the firearm and defense industries.
Headquartered in Naples, FL, Azimuth has grown rapidly since its founding in 2011 to become an industry leader in high precision manufacturing. The company’s state-of-the-art manufacturing facility and expert machinists produce top quality metal components utilized in the manufacturing of a variety of firearms and equipment for the civilian, law enforcement, and defense industries. Azimuth’s scalable and versatile operating platform enables the company to rapidly design, prototype, and manufacture components for new products, existing platforms, or aftermarket replacements and enhancements.
LVC partnered with the current management team as well as Clavis Capital Partners and Independent Bankers Capital Funds in 2017 to provide growth capital and strategic resources to support future growth.
Advanced Metering Data Systems ("AMDS") provides Smart Grid remote utility meter monitoring and metering wireless connectivity. Their technology offering includes radio-frequency fixed network advanced metering infrastructure, automatic meter reading (AMR) technology, remote connect/disconnect, and monitoring services to electric, gas and water utilities using patented technology that operates on a dedicated, fixed wireless network anchored by licensed FCC spectrum.
In 2004, LVC partnered with the company founder, a technically gifted entrepreneur with a long track record of successful business ventures, to make a significant minority investment in AMDS. LVC negotiated the investment on an exclusive basis, as AMDS management placed a great deal of value on LVC's experience and financial expertise. Following the investment, LVC took an active role on the company board of directors and provided strategic and operational guidance.
In 2006, AMDS was sold to Sensus, an international technology company serving utilities owned by private equity players The Jordan Company and GS Capital Partners (Goldman Sachs). The highly successful sale was structured with upfront cash and a tiered system of earn-out payments to LVC investors that will continue through 2012.
Ardent Services is a comprehensive provider of electrical and instrumentation ("E&I") services to process industries worldwide. The company engages in new construction, turnaround services, routine maintenance, commissioning, offshore hookups, inspection services and project management – serving industrial customers in all sectors of the oil and gas industry, as well as customers in the food processing, chemical, power generation, marine, shipbuilding, pulp and paper industries, among others.
In forming Ardent in 2002, LVC partnered with a highly skilled group of managers that ran one of the top E&I providers in the country. LVC funded the bulk of the company's initial capital and provided strategic and operational guidance to help grow the company to over $100 million in annual revenue in five years. All of Ardent's growth came organically through the expansion of existing customer relationships and the patient addition of new customers.
In February 2008, LVC sold Ardent to private equity company Cadent Energy Partners, which has continued to grow the company.
As one of the top 100 third party logistics companies in the US, Arnold Logistics provided supply chain management and distribution solutions including warehousing, fulfillment, distribution, materials processing, contract packaging, transportation and call center services. Their blue-chip client list included ACH Food Companies (now Associated British Foods plc), Cadbury Adams (now Kraft Foods), Coors Brewing Company (now Molson Coors Brewing Company), The Hershey Company, IBM, Pfizer, Quaker (now Pepsico), and Simon & Schuster.
In late 2001, Roadway Corporation (now part of YRC Worldwide, NASDAQ: YRCW) purchased Arnold Logistics' publicly-traded parent, Arnold Industries, Inc. LVC partnered with Arnold Logistics' founder and management team to purchase Arnold Logistics from Roadway. The partnership was a natural one, as the founder and management together had nurtured the Company's growth since its founding in 1976.
Under LVC's ownership, Arnold Logistics expanded from its Northeast U.S. regional base into the Midwest and West, expanding existing customer relationships while developing new ones. The company combined advanced information technology resources with unparalleled customer service to grow organically, increasing revenue by 41% and EBITDA by 94% during the five years LVC owned the company. LVC sold the business to Oak Hill Capital Partners in 2006.
Ascent Aviation Services Corporation is a premier provider of maintenance, repair, and overhaul (MRO) services for multiple platforms of narrow body aircraft.
An FAA-licensed company, Ascent provides heavy maintenance, teardown, storage, and line maintenance for small to mid-sized operators and leasing companies for the B737, B757, B727, MD-80, DC-9, A320 and CRJ aircraft platforms. Ascent's facilities, located at Tucson International Airport, consist of 48 acres of concrete ramp; over 34,000 square feet of hangar space; and 88,000 square feet of backshop and secured warehousing and consignment space. Ascent has a track record of growth based on their outstanding reputation for MRO service and support in the aviation industry.
LVC acquired a controlling stake in Ascent in 2013, and will invest growth capital that will enable the company to build a new 45,000 square foot hangar, improve the existing facilities, and enhance their service capabilities to include additional aircraft platforms. This investment will also enable the company to attract a larger and more diverse set of customers, thus providing substantial new growth opportunities for the business.
Blue Dot Energy Services is the leading provider of downhole rental tools and equipment to serve the oil and gas industry in the Appalachian region.
The company, which was founded in 1998 by a successful energy industry entrepreneur, serves a range of E&P and drilling companies and is extremely well positioned to capitalize on the development of the Marcellus Shale natural gas formation as well as the burgeoning Utica Shale play.
From locations across Pennsylvania, West Virginia, Ohio, and Kentucky, the Company provides downhole tools, various types of oilfield equipment, wireline services, machine shop services, temporary housing and consulting services to a range of customers throughout the Appalachian Basin, from Kentucky to New York.
LVC acquired a controlling stake in Blue Dot in 2010 as part of a recapitalization of the company's balance sheet, which was designed to position the company for future growth. LVC works closely with Blue Dot's management and provides operational and strategic guidance for the company. Following the investment, LVC oversaw the implementation of operational and financial systems improvements that will allow Blue Dot to grow quickly to accommodate the growth prospects of the Marcellus Shale and Utica Shale formations.
In the fall of 2013, LVC sold Blue Dot to BEA Logistics Services, LLC, a subsidiary of publicly traded BE Aerospace, Inc.
Founded in 1979 and based in Thousand Oaks, CA, ECA Medical Instruments is a medical product and technology company focused on the development and manufacturing of single-use, torque-limiting instruments, fixed drivers, and instrument kits for the global medical device and implant market. The Company’s products are developed in partnership with leading Original Equipment Manufacturers (“OEMs”) in the Cardiac Rhythm Management (“CRM”), Neuromodulation, Cardiovascular (“CV/VAD”), and Orthopedic/Spine markets. Developed and refined over the last three decades, ECA’s innovative torque limiting single-use technology represents a low-cost solution with better patient outcomes relative to expensive reusable instrumentation.
In 2012, ECA leveraged its technology to develop patented and disruptive single-use instruments and kits for the Orthopedic/Spine markets. ECA maintains the dominant market position and first mover advantage across all of its market segments.
LVC partnered with management and an existing Board Member to acquire a controlling stake in ECA from American Capital, Ltd., the Company’s prior financial sponsor. In doing so, LVC provided ECA with growth capital and the necessary resources to enable the Company to deploy its novel technology and capitalize on unmet needs in the healthcare sector.
Jackson Offshore Holdings, LLC is a leading provider of supply vessels and marine transportation services for exploration, development and production activities in support of the offshore oil and gas industry in the Gulf of Mexico.
Jackson Offshore manages a fleet of modern and efficient Platform Supply Vessels (PSV) and Fast Supply and Intervention Vessels (FSIV) designed for deepwater operations to meet the demanding requirements of the offshore oil and gas industry.
LVC's investment of subordinated debt and common equity, together with other debt and equity financing, is being used to fund the company's continued growth, including the construction of four new PSVs, which will be completed and placed into operation in third quarter 2014.
Pod Pack is a leading manufacturer of innovative single-serve coffee, tea, and other beverage product solutions.
Headquartered in Baton Rouge, LA, Pod Pack’s customer base includes some of the nation’s largest coffee roasting, distribution, and retail businesses. Within single-serve, Pod Pack is the market-leading manufacturer and packager of soft filter pods, a growing product segment that delivers taste, sustainability, and cost advantages over alternative forms of single-serve coffee. The combination of specialized measurement, grinding, and packaging equipment together with management’s decades of experience in the coffee, filter, and single-serve industries enables Pod Pack to design and engineer optimal single-serve solutions for customers across a wide array of end markets including hospitality, office coffee, food service, and retail.
LVC partnered with the current management team in 2018 to provide capital and strategic resources to support future growth.
Premier Store Fixtures is a leading provider of customized interior fixtures and merchandising displays for the retail industry.
The company supplies fixtures for the opening, refreshing, and remodeling of stores located across North America. Premier's design, engineering, manufacturing, and logistics capabilities are critical for retailers to maintain attractive store footprints and to support the constant roll-out of new products.
LVC partnered with the current senior management team and Ironwood Capital in 2013 to recapitalize the business and provide capital and strategic support for future growth.
In the summer of 2015, LVC sold Premier Store Fixtures to Tailwind Capital, a New York-based private equity firm.
Prime Health Services, is a diversified medical cost containment company that offers a full spectrum of services, including a nationwide Preferred Provider Organization ("PPO") as well as leading medical cost containment solutions.
Founded in 2001, Prime Health's cost containment services are tailored to the Workers' Compensation, Auto Liability and Corrections markets. To serve the needs of their customer base including insurance companies, third party administrators, and self-insured employers, the company has developed over 700,000 providers and facilities nationwide forming the Prime Health National Delivery System.
LVC's investment, including senior secured debt will enable Prime Health to focus on the evolving needs of their customers. This includes the development of a breadth of service offerings that will create additional savings within the complex healthcare system, thereby providing substantial growth opportunities for the company.
Professional Rental Tools is a leading provider of stabilization and support equipment for oil and gas companies in the deepwater Gulf of Mexico.
The company’s equipment and services are mission-critical for operators to safely and efficiently perform completion, maintenance, and plug & abandonment activities on deepwater wells. As a leader in quality and safety, the company’s client base includes major and supermajor oil and gas operators and top-tier service companies.
LVC partnered with the current management team and Ironwood Capital in 2015 to provide capital and strategic resources to support future growth.
Quality Senior Living Partners is a leading owner and operator of premier assisted living and memory care facilities serving seniors 75+ years in tertiary markets throughout the Southeastern U.S.
The company’s private pay facilities are differentiated by excellence in design, service offering, luxury amenities, and technological innovation. The company’s model features a full continuum of quality care and services with no upfront “buy-in” community fees. This innovative approach to senior living provides an unmatched, premium value as compared to alternative care options in the marketplace.
LVC partnered with the current management team in 2017 to provide capital and strategic resources to support future growth.
St. George is the nation's largest provider of container freight station ("CFS") services for ocean cargo imported into the United States.
The company's CFS business is complemented with warehousing and distribution services as well as air CFS and expedited air freight services. St. George operates from ten facilities strategically located in close proximity to the nation's largest ports and metropolitan areas.
St. George grew from a single New Jersey warehouse in 1985 to a leader in port logistics with a nation-wide network of facilities providing CFS, third party logistics, and transportation services to some of the world's leading freight forwarders, non-vessel operating common carriers, specialty importers, and retailers.
LVC acquired a controlling stake in St. George in connection with a recapitalization of the company and infusion of growth capital in 2012. LVC works closely with co-investors Long Point Capital and Ironwood Capital to provide operational and strategic guidance for management.
Zavation is a designer and manufacturer of high quality spinal implants, instruments, and biologics.
Based in Jackson, MS, Zavation designs, engineers, and manufactures a portfolio of spinal hardware covering key areas thoracolumbar, cervical, interbody fusion, and minimally invasive surgery. Founded in 2010 with its first sale in 2012, Zavation has experienced exceptional growth and created a national network of 100+ distributors across approximately 35 states. The company has commercialized over 10 product families since inception, with 10 additional novel products expected to launch over the next two years. Zavation operates a 24,000 square foot vertically integrated facility with approximately 50 employees.
LVC partnered with management to acquire Zavation in 2017 and invested growth capital that will enable the Company to introduce new products, expand its distributor base, and become a leader in the spinal market.