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The following are prior portfolio companies of Evolution Capital’s
management team.
(www.qualitytubing.com)
This oil field service company is the world’s leading provider
of flexible steel coiled tubing used for various applications. The
company’s patented coiled steel tubing technology allows a
single piece of flexible coiled tubing to replace hundreds of jointed
pipes used for servicing oil wells, substantially reducing costs
and time. Mr. Behrman sourced this leveraged buyout, led the diligence
efforts and played the central role in its execution. The investment
was sold to Varco, a large strategic buyer, for approximately $55
million producing a 2.6x ROI and a 20% IRR over a five-year hold
period.
(www.tgw.com)
In 1999, Mr. Behrman led the investment in and acquisition of The
Golf Warehouse, a golf related e-commerce provider located in Wichita,
Kansas. With an excellent management team and a powerful focus on
customer service, sales at The Golf Warehouse grew ten fold during
the investment hold period. In June of 2004, the Company was sold
to The Sportsman’s Guide, a publicly traded catalog and e-commerce
business. Despite the market for e-commerce businesses collapsing
over this hold period, the investment generated an IRR of approximately
36% and an ROI of 3.8x. Today, The Golf Warehouse is the largest
golf e-commerce company in the world.
(www.projectleadership.net)
In November of 2002, Mr. Behrman led the leveraged buyout of this
Chicago-based IT services firm. Project Leadership Associates ("PLA")
is a Chicago-based IT services firm focused on mid-sized customers
with disciplines including network integration, software development,
management consulting, network security and level one and two support
services. Mr. Behrman sourced this buyout, led all aspects of the
investment and was an active board director. Since the original
investment, the company has built organically a new subsidiary in
India and has completed one small acquisition.
(www.goldhil.com)
Goldhil Home Media International, Inc. produces, licenses and distributes
special interest home media entertainment (i.e., videos and DVDs)
such as children’s educational content and fitness related
programming. In November of 2003, Mr. Behrman led the buyout of
Goldhil and recruited Mark Curcio to the board of directors who
has recently assumed the role of Chief Executive Officer. Previously,
Mr. Curcio built Artisan Entertainment to over $500 million in sales
pursuing a similar strategy. At the end of 2004, the company completed
the asset purchase of Cerebellum, a library of over 500 children’s
educational videos.
(www.opremium.com)
In late 2003, Mr. Jacob originated this growth financing which was
led and executed by Mr. Behrman. The company was founded by Frank
Leonesio, an exceedingly successful entrepreneur. Mr. Leonesio previously
founded two fitness related businesses, which he sold for in excess
of $100 million. Under his leadership, O Premium Waters has rapidly
become the #2 bottled-water home and office delivery (“HOD”)
company in Arizona and should soon be the market leader. Many industry
participants describe O Premium Waters as the fastest growing company
in the industry.
In September of 2004, Mr. Behrman led this growth financing, which
was sourced by Mr. Ryan Jacob. The New Release is a Texas based
provider of DVD rentals to value oriented consumers, primarily in
grocery stores, via in-store kiosks. The Company was founded in
2002, and since that time it has won multi-year contracts with several
large grocers representing well in excess of 300 stores. The New
Release has implemented a more convenient way for impulsive, time-restricted
and value conscious consumers to rent DVDs. The New Release’s
locations within major grocery stores allow it to capitalize on
consumers’ desire for a lower cost and more convenient DVD
rental alternative. As the lowest cost conventional DVD delivery
system, this approach is expected to outlast the conventional DVD
rental stores, which currently dominate the rental industry.
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