ACTIVE INVESTMENTS

Orleans Group International

Business Description: Orleans Group is a leading importer and distributor of cigars, cigar accessories, and other related products. The Company works with suppliers around the globe to design and produce the industry's broadest product line. Customers of the Company range from local mom-and-pop retailers to large multi-national distributors.

Products: Cigars, humidors, cutters, travel cases, and other related products.

Website: www.orleansgroup.com

Seller's Needs:
• Liquidity to pursue other interests;
• New management team to replace the shareholders.

Investment Thesis:
• Update product line through product development and product line acquisitions to fill in critical gaps;
• Integrate more deeply with key industry players to better meet their needs;
• Enter new product markets.

Solutions:
• Complete two product line acquisitions subsequent to the original investment;
• Deploy technology and restructure certain back-office processes to dramatically increase responsiveness to changing customer needs and market dynamics;
• Provide resources to expand into tangential product markets.

Don Salvatore

Business Description: Don Salvatore is one of the most recognizable cigar accessories brands in the market. The Company focuses on serving high-end cigar retailers across the U.S. Don Salvatore's signature products blend high quality components and unique features/designs unavailable in other brands.

Products: Cigar humidors, cases, cutters, and other accessories.

Website: www.donsalvatore.net

Seller's Needs:
• The corporate parent sought to spin out this division to focus on its unrelated primary business;
• Liquidity to support its core assets;
• Certainty of close.

Investment Thesis:
• Invest in additional inventory to better meet customer demand;
• Expand distribution network;
• Broaden the range of branded offerings.

Solutions:
• Completed due diligence and all documentation in 30 days;
• Filled in gaps within the brand's existing product line to meet underserved customer needs.

Cigar Classics

Business Description: Cigar Classics is a leading manufacturer of premium cigar accessories.

Products: Premium cigar cases, travel humidors, and Paradigm humidification devices for use in cigar humidors.

Website: www.cigarclassics.com

Seller's Needs:
• Liquidity to pursue other interests;
• Certainty of close.

Investment Thesis:
• Add additional distribution channels;
• Expand the Company's primary brands into new markets.

Solutions:
• Leverage industry relationships to significantly increase the number of outlets carrying the Company's products;
• Optimize production processes to more readily adapt to customer needs.

FORMER INVESTMENTS

Winslow Life Raft

Business Description: Winslow Liferaft is the leading producer of life rafts s in the marine, and corporate aviation markets and service provider for aircraft slides

Products and services: Life rafts and the service of life rafts and aircraft slides

Website: www.winslowliferaft.com

Seller's Needs:
• Transition the Company to its current management team;
• Realize liquidity for estate purposes;
• Support the expansion into new markets.

Investment Thesis:
• Build on the leading market position of the Company;
• Expand into new market segments;
• Add additional distribution channels;
• Enter new product markets;
• Capitalize on the installed base for service.

Solutions:
• Provide an all cash transaction;
• Enable the current shareholders to participate in future growth;
• Provide equity for management as a valued partner;
• Provide tools for expansion.

Overwraps Packaging

Business Description: Overwraps is a converter of flexible plastic film used for food, medical and industrial packaging applications. The Company's value proposition is to provide turn key solutions for short run, quick turnaround, laminated packaging of up to eight colors.

Products: Company converts flexible film products such as potato chip bags, coffee bags, medical surgical masks and cookie packaging

Website: www.overwraps.com

Seller's Needs:
• The founder desired liquidity for estate purposes;
• Retire two years after the transaction;
• Fund a $2.0 million capital expansion to maintain a customer.

Investment Thesis:
• Deploy new printing assets;
• Build on the Company's strong reputation for quality and service;
• Recruit a new CEO and build a management team;
• Use technology to increase profitability.

Solutions:
• Provide an all cash transaction;
• Fund the entire transaction without bank debt;
• Fund a new $2.0 million press at closing;
• Recruit a CEO from an industry leading company.

Sterling Foods, Inc.

Business Description: Sterling Foods is the leading innovator and supplier of "shelf stable" bakery products for government and commercial markets.

Products: Cookies, brownies, bread, pretzels and other baked goods that last up to four years.

Website: www.sterlingfoodsusa.com

Seller's Needs:
• Liquidity for estate purposes;
• Retire immediately.

Investment Thesis:
• Leverage government business to expand into commercial markets;
• Fund R&D to create value added products.

Solutions:
• Purchase price in excess of other purchasers;
• Recruitment of new CEO;
• Backing current and incoming management in ownership.

The Lofland Company

Business Description: Lofland is one of North America's largest independent fabricators of reinforcing steel ("rebar") and a significant distributor of other miscellaneous construction related products ("CRP's").

Website: www.loflandcompany.com

Seller's Needs:
• Liquidity on investment;
• Confidence of close.

Investment Thesis:
• Expand the geographic base of operations through acquisition of contiguous territories;
• Capitalize on government transportation funding.

Solutions:
• Provide for adequate funding of acquisitions;
• Provide acquisition expertise.