Current Investments:

Cygnus Manufacturing Company ("CMC") is a leading manufacturer of minimally and non-invasive medical device products, such as angiograph injector heads used in cardiac catheterization and hospital bed and kidney dialysis machine assemblies and components; safety product components (including breathing apparatus used by firemen and rescue workers); and high precision transportation components used in such products as freight train brakes and the interior of New York City subway cars.  CMC is FDA registered and ISO 9001:2000 certified.   www.cygnusmfg.com.

Below are descriptions of selected prior investments that illustrate the Firm's primary focus on manufacturers of medical devices, precision value-added metal fabricated products, and engineered plastic products:

• Walco National Corp. – the Firm formed a corporation with management to take private this American Stock Exchange manufacturer of AC and DC electric motors, precision metal stampings, heavy duty forgings and castings, and engineered plastic products.  Markets served included automotive, commercial and industrial manufacturers.

• Crenlo Inc. – a leading manufacturer of cabs and rollover structures for construction, agriculture, and commercial equipment markets serving manufacturers such as Caterpillar, Deere & Company, and Case New Holland. Crenlo's cabs are highly engineered, custom designed, steel frame enclosures which attach to and become an integral part of an OEM's specific equipment. Cabs range in design complexity from simple shells to totally equipped cabs which would include seats, controls, air-conditioning, etc. In addition, Crenlo builds a proprietary line of modular electronic enclosures under the trademark of EMCOR Enclosures, servicing varied markets, including the defense, datacom, telecom, security, test & measurement and broadcast industries. Crenlo also provides expertise in the design and manufacture of high volume, build-per-print requirements for major customers such as Siemens, Hewlett-Packard, and Agilent Technologies.  Crenlo is now a division of Dover Corporation.

• Lenco – a manufacturer of engineered plastic products serving primarily the medical device, food packaging and media industries.  Products include medical nebulizers, various plastic medical products sold through pharmacies, audio and video components, and media storage boxes.

• American Engineered Components (AEC) – a leading designer and manufacturer of complex, custom designed stamped metal components, disc springs and engineered industrial fasteners, including sealer plugs, Carr Plug Buttons and Teenuts, serving primarily the automotive, truck, electronics and industrial products markets. The products and components manufactured have long life cycles.  Manufacturing processes included progressive die, transfer press, and multislide operations.  Customers included General Motors Truck and Bus, Ford, Chrysler Corporation, TRW, Autoliv, and Schlumberger.

• HIS Stamping – a manufacturer of high quality, close tolerance metal components and assemblies for the electric meter industry.

• Rolex Company – a precision disc spring manufacturer that is ISO and QS certified serving power transmission applications such as clutches and brakes; valve and flange seals; hoists, cranes and other heavy equipment; electrical switchgear and buss bars; and ball bearing containment.

• Johnson & Hoffman (J&H) – a manufacturer of precision metal stampings and deep drawn components serving the airbag segment of the automotive industry and the electronic and ordnance industries.  Products included components for smart, side and window airbags.  Zero defects are a must in these applications.

• Exatron Tool & Die (Exatron) – a manufacturer of coined metal components and assemblies used in electronics and industrial markets for current-carrying applications such as power rectifiers, rectifier modules, RF components, over-voltage protection devices, relay headers and transformer bases.  Its products allow glass to metal seals found in semiconductors, lithium batteries, pressure sensors, end-seals and diodes.

• Electrotech – a manufacturer of precision lightweight metal stampings serving the electronics, data, telecommunications and consumer electronics industries.  Metals used included copper, gold, bronze and stainless steel.

• Staver Manufacturing Corp. – a producer of high quality, deep drawn precision stamped metal components with very close tolerances for the automotive, commercial, military and electronics markets.  Products included light bulb shields and assemblies for automobile headlamps as well as digital signage products.

• Oneida Molded Plastics – a manufacturer of highly engineered plastic products and subassemblies for the heating and air-conditioning, media, and other commercial and industrial industries.

• International Media Products -  a precision manufacturer of coated polyester film components used in audio and video products serving customers in the U.S., Mexico, Canada, Hong Kong, China, Singapore and Malaysia.  The company was merged with Component Technologies.

• Platinum Molded Products – a manufacturer of highly engineered plastic products serving the medical lighting, commercial lighting and corporate advertising industries.

• Georgia Narrow Fabrics (GNF) – a producer of knitted narrow elastic fabric sold primarily to women’s intimate apparel manufacturers in the United States, Mexico and the Caribbean.  The Company is a key supplier to the major domestic intimate apparel manufacturers.  GNF is now a portfolio company of Key Principal Partners.