CHB Capital Partners

Current Newsletter

Spring 2008

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Winter 2007

Summer 2005

Winter 2004

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Spring 2002

Winter 2001

Spring 2000

Fall 1999

Spring 1999

Summer 1998

Fall 1997

Spring/Summer 1997

Winter 1997

Summer 1996

Winter 1996


Summer 1998

So far, 1998 has been all about growth. Our portfolio companies, our staffing, Tad's family -- all grew in significant ways. Tad & Wendy had a new baby girl named Julia in August . We hired Grant Clayton as an associate in June. Previously he worked with McKinsey & Co. in Atlanta and with First Boston in Los Angeles. He received his MBA from Harvard Business School.

In March, Trussway acquired a $10 million multi-family truss and wall panel manufacturer. In May, we hired Warburg Dillon Read to help us realize our investment in Trussway. We and management believe that the race to consolidate the factory built housing component industry has begun and that a new partner with deeper pockets and experience with consolidating industries would better serve Trussway's needs. As the Warburg Dillon Read process continued through the summer, we signed an agreement to acquire a $40 million single family truss manufacturer which provides the company with its single family growth platform. All through this period Trussway has generated record profitability. We are now in negotiations with a new partner for Trussway and look forward to an October closing.

SCOA closed its acquisition of a $30 million competitor in March. SCOA also hired a new Chief Operating Officer to focus on store operations leaving Denny Tishkoff, the CEO, to focus on growth opportunities. The company continues to put up strong comp store gains although the daily ups and downs of the retail business are contributing to some new gray hairs in the office.

Spyder has been busy building its internal resources to help meet its growth objectives. They have reorganized the structure of their European distribution, hired a manager to oversee the European operation, hired a VP of Global Sales and Marketing to drive their marketing efforts and hired a manager to oversee their Asian production. We are very excited by the pace of activity at Spyder and the energy that the new people have brought to the company's efforts.

Champion Technologies has been affected by the overall slowdown in the electronics industry. Demand from its core cellular and internet customers has continued to be strong as orders from its other customers have fallen off. We look forward to an end to the Asian flu.

We began the process of raising capital for CHB Capital Partners II in the spring and plan to have our first closing shortly. We encourage you to call us with interesting investment opportunities within the closely-held and family owned business market. We look for transactions where we can invest equity capital in established companies with $20 million or more in revenue. Should you call, we guarantee you a thoughtful and timely response.

Best regards,

Tad Kelly, John Flanigan, Blake Morris & Grant Clayton


511 Sixteenth Street, Suite 600 Denver, CO 80202
Telephone: (303) 571-0100 Facsimile: (303) 571-0114