Apartment Data Services
Management Recapitalization

OVERVIEW:

Apartment Data Services is an internet data services company that collects, sources & sells real time localized apartment data and statistics to the apartment rental, property management, construction and commercial property industries.

EXECUTIVE PARTNER:

Salt Creek partnered with John Severance, Owner and Former CEO of ADS, to acquire the company in late 2014.  Mr. Severance founded ADS and subsequently built the company from scratch to a market leader over a 28-year period.  Mr. Severance remains actively involved with the company supporting the new CEO, Rudy Mui, who partnered with SCC to complete the acquisition.

INVESTMENT HIGHLIGHTS:

› Leading niche services provider with expansion opportunities
› Steady projected demand
› Performs well during both up & down market cycles
“SCC enabled me to focus on the engineering role I always preferred while continuing to play a part in the company’s future growth”   - John Severance, Founder & Former CEO


Boyd Industries
Executive Buy-out

OVERVIEW:

Boyd is a leading manufacturer of examination and operatory equipment for specialty dental and medical applications. For over 50 years, the company has been a leading provider of innovative and cost effective equipment such as treatment chairs, sterilization centers, specialty cabinetry and related accessories.

EXECUTIVE PARTNER:

Salt Creek Capital, together with Adrian LaTrace, led the acquisitionof Boyd Industries in 2012. Adrian began working with Salt Creek Capitl after a succcessful manufacturing career that spanned several industries and included senior roles with companies such as Gulfstream Aerospace, Knowles Electronics and Hughes Aircraft Company.

INVESTMENT HIGHLIGHTS:

› Buyout of family-owned / operated business in 2012 
› Leading market position, strong brand recognition in U.S. 
› Large and growing market with stable long-term demand
  fundamentals
“Salt Creek’s expertise extends beyond execution—they are a valuable part of my businesses’ growth”   - Adrian LaTrace, CEO


Ultracor, Inc.
Executive Buy-out

OVERVIEW:

Ultracor is a leading manufacturer of high performance composite materials for the space and aerospace industries.  Since 1995, the company has been a leading supplier of specialty materials to major aerospace and government contractors. The company utilizes a patented process to fabricate materials used in satellites, missile systems, and other high performance applications.

EXECUTIVE PARTNER:

The principal of Salt Creek Capital partnered with a successful manufacturing executive to lead the acquisition of Ultracor, Inc. After a successful general management career, the executive partner worked with Salt Creek to identify several acquisition targets, which led to the successful transition of the business from the founder in 2008.

INVESTMENT HIGHLIGHTS:

›  Buyout of founder owned/ operated business in 2008
›  Leading position in niche market segment
›  Technology leader with intellectual property
“Salt Creek understands the importance of building long-lasting partnerships”   -President, Ultracor, Inc.


Warne Scope Mounts
Executive Buy-out

OVERVIEW:

Warne Scope Mounts is a leading designer and manufacturer of an extensive range of quick detachable and fixed scope mounting systems for firearms. The company is a premium supplier to the OEM and retail channels and makes firearms accessories for the sporting, hunting and tactical-law enforcement markets.

EXECUTIVE PARTNER:

Salt Creek partnered with Dan Goetz, a successful manufacturing executive, to identify acquisition opportunities in need of new management. Together, the firm was able to acquire Warne Scope Mounts in 2012. Previously, Dan was the President of RTIE Holdings and the CEO of Ultraviolet Devices, Inc.

INVESTMENT HIGHLIGHTS:

 Buyout of owner/ operated business in 2012
 History of strong revenue and profitability growth
 Well-known brand name wiht leading market position
“The Salt Creek team was integral in overcoming the challenges we faced—they produce results   - Dan Goetz, CEO


WorkWell Medical Group
Management Recapitalization

OVERVIEW:

WorkWell Medical Group is a leading occupational medicine and urgent care provider located on the California Central Coast. The company is the fastest growing indpendent provider in California.

EXECUTIVE PARTNER:

Salt Creek Capital partnered with Sheilaja and Vikram Mittal, Founders of WorkWell Medical Group, to recapitalize the company and bring in a new CEO to foster growth while also allowing the Mittals to spend more time with their family. Together with the incoming CEO, SCC acquired the company in 2015 from Dr. and Mr. Mittal who remain actively involved in the company.

INVESTMENT HIGHLIGHTS:

› Highly fragmented market with high barriers to entry 
› Growing population & improving employment driving demand
› Increasing demand for convenience in an underserved market
“We are looking forward to partnering with Salt Creek in a way that will allow us to pursue passions outside of our company”   - Dr. Sheilaja Mittal Founder & Former CEO


LM Foods
Executive Buy-out

OVERVIEW:

LM Foods (LMF) is a New Jersey-based manufacturer of surimi seafood products, selling to distributors, retailers and food processors. In August 2017, LMF merged with Aquamar, a west coast manufacturer of shred style surimi, selling to restaurant/food service customers and retailers. By leveraging the complementary capabilities of LMF and Aquamar, a larger organization with greater scale, more cost-efficient operations, and expanded sales and distribution channels was created. The combined entity, Aquamar Holdings, is the second largest player in the North American market.

EXECUTIVE PARTNER:

Salt Creek acquired LM Foods in partnership with Executive Partner, Mark Olivito, who has over 15 years of business leadership experience in the consumer products industry with major CPG organizations, including Kraft Foods & Sara Lee, as well as startup/high growth Monogram Food Solutions.

INVESTMENT HIGHLIGHTS:

› Mark Olivito now leads the combined entity serving as the CEO
› EBITDA nearly doubled before SCC sold a majority stake in the business and combined operations with a large west coast manufacturer in 2017 in partnership with a larger PE firm
› Transaction resulted in strong investor returns for the initial 3 year hold period, and investor’s rolled forward a portion of their proceeds to participate in additional upside
"I couldn't be more proud of my partnership with Salt Creek Capital and the exceptional results generated to date with LM Foods and Aquamar Holdings"   - Mark Olivito, CEO


 
 
Copyright © 2017, Salt Creek Capital II, LLC.