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As this newsletter goes out the National Western Stock Show
has concluded. It is an annual event that provides a close
up view (nothing like sharing a narrow hallway with a twelve
year old girl and her "pet" 2000 lb. Brahma bull to focus
the mind) at a way of life unknown to those of us that grew
up in the East. As the graphic shows, we now know that there
is at least one more exciting way to earn a living than private
equity investing.
We continue to come across a wide variety of opportunities
within our niche -- family owned and closely held businesses
that are looking for a partner to provide capital for ownership
transition and growth. At the moment we are finalizing financing
commitments for an investment that we will hopefully be able
to discuss in more detail in our next newsletter. Other situations
that we are looking at now include a growth equity investment
in a closely held manufacturer of intelligent lighting systems,
a management buyout of a telecommunications equipment manufacturer
and a management buyout of an automotive parts distributor.
Trussway Ltd., our first investment, continues to perform
well. Recently, we have been working with management to evaluate
several interesting acquisition opportunities. Trussway wishes
both to expand its presence in the single family market and
to increase its geographic coverage of the multifamily market.
Let us know if you have an interesting potential candidate.
We have also continued speaking on issues related to financing
alternatives for private businesses undergoing transitions.
Tad attempted and mostly succeeded in keeping 30 or so attorneys
awake on a Friday afternoon during a Continuing Legal Education
seminar in Denver. He also spoke at the Attorneys for Family
Held Enterprises conference (which we helped to sponsor) in
Dallas in November. John develops the presentations, while
Tad gives them -- it's a toss-up as to who has the better
end of the deal.
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 $2 million to
$10 million in equity capital in established companies with
$25 million or more in revenue in industries that are not
overly volatile. Should you call, we guarantee you a thoughtful
and timely response.
Best regards,
Tad Kelly & John Flanigan
511
Sixteenth Street, Suite 600 Denver, CO 80202
Telephone: (303) 571-0100 Facsimile: (303) 571-0114
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