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Investments

Mooyah

Franchisor of fast-casual “MOOYAH” branded restaurants offering fresh, customizable burgers, hand cut fries, and real ice cream milkshakes to customers worldwide. The Company is a global brand with 93 locations spanning 10 countries, including 73 stores in the U.S. and 20 international stores. MOOYAH’s ongoing growth and success is driven by its strong network of franchisees who value MOOYAH’s global brand, proven economic model and passionate, committed leadership team.

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Industry: Restaurant Brand

Status: Active

Date of investment: April 3, 2017

Headquarters: Plano, TX

Leadership: Anand Gala

Transaction type: Buyout, Growth Investment

Structure: Equity

Balmoral opportunity: Partner with Anand Gala, 30 year industry veteran, and MOOYAH management.

Website: www.mooyah.com

AgileX Supply Chain

Provides outsourced supply chain services such as supplier management, quality control and inventory sourcing, procurement, management and planning to companies in the industrial and energy sectors.

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Industry: Supply Chain Management and Procurement

Status: Active

Date: March 2017

Headquarters: Lyndhurst, NJ

Leadership: Corporate Carve-out, Growth Investment

Structure: Equity

Opportunity: Carve-out and establish operations as a stand-alone company with entrepreneurial drive and focus.

Website: www.agilexsc.com

Date of investment: March 1, 2017

Transaction type: Corporate Carve-out, Growth Investment

Balmoral opportunity: Carve-out and establish operations as a stand-alone company with entrepreneurial drive and focus.

Silver Aero

Silver Aero is a joint venture with an aerospace aftermarket sale and leasing company. Silver Aero acquires assets opportunistically by identifying those that (a) have entered into the mid-life status of their life cycle, (b) are migrating from tier one operators to the secondary marketplace; and/or (c) have reached a point in their life cycle where the sum of their parts is worth more than the value derived from repairing, maintaining and operating them.

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Industry: Aerospace

Status: Active

Date of investment: December 1, 2015

Headquarters: Reno, NV

Leadership: Long tenured executives

Transaction type: Growth Investment

Structure: Equity

Balmoral opportunity: Partner with committed and successful operators.

Website: http://balmoralfunds.com

Enesco LLC

Global leader in the gift, plush toy, and home and garden décor industries with a portfolio that includes some of the world’s most recognizable brands including Jim Shore, Disney, Gund, Department 56, Britto and Our Name Is Mud. Serving more than 40,000 customers worldwide, the company designs, develops, and distributes consumer products to a wide variety of specialty card and gift retailers, home décor boutiques, national retail chains, and direct-to-consumer retailers. Enesco’s international headquarters is located in Itasca, Illinois with subsidiaries in the United Kingdom, France, Canada and China. Enesco serves markets operating in the Americas, Europe, Canada, Australia and Asia. Enesco employs approximately 750 associates worldwide.

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Industry: Gift and Collectibles and Home Decor

Status: Active

Date of investment: November 1, 2015

Headquarters: Itasca, IL

Leadership: Todd Mavis (CEO)

Transaction type: Buyout

Structure: Equity

Balmoral opportunity: Refresh and reinvigorate the company and brands following years of inactive ownership.

Website: www.enesco.com

iGPS Logistics LLC

Operator of the world’s first plastic pallet rental service featuring lightweight, 100% recyclable plastic pallets with embedded radio frequency identification (RFID) technology. The company’s plastic pallets and integrated technologies yield significant savings for product manufacturers (of beverages, foods, pharmaceuticals, agriculture, etc.) and their customers who receive such products (e.g. retailers).

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Industry: Logistics / Mobile Assets

Status: Active

Headquarters: Orlando, FL

Leadership: Jeff Liebesman (CEO) and Robert Liebesman

Transaction type: Note purchase, followed by purchase of assets by credit bidding in 363 bankruptcy sale

Structure: Majority, in Shared-Control Structure

Balmoral opportunity: Partnered with experienced and successful operators and a private equity firm (whose foreign affiliate had manufactured 10 million pallets that iGPS has purchased) to acquire the only U.S.-based plastic pallet rental/pooling business. The new management will implement strategies focused on greater logistics efficiency, faster velocity of the assets in use and lower loss/damage rates.

Website: www.igps.net

Date of investment: June, 2013

Concurrent Manufacturing

Concurrent Manufacturing

Concurrent is a vertically integrated contract electronic manufacturer, providing a range of manufacturing and assembly services. Concurrent operates facilities in the U.S. and Mexico and serves a diverse range of customers within the telecommunications, industrial, energy, defense and aerospace markets.

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Industry: Contract Electonics Manufacturing

Status: Active

Date of investment: October, 2012

Headquarters: Hialeah, FL

Leadership: Ben Teno, CEO

Transaction type: Asset purchase from a bank via UCC Article IX purchase.

Structure: Control, with significant management ownership

Balmoral opportunity: With affiliates in the UK, US and Mexico suffering from various levels of distress, Simclar, Inc. found a buyer for its assets in Concurrent. With a reinvented and invested management team and reinvigorated manufacturing capabilities benefiting from Balmoral’s equity infusions into the business, Concurrent is addressing the needs of and expanding the highly-regarded customer base.

Website: www.concurrentmfg.com

Dispatch Transportation

Dispatch

Full-service hauler and broker of dirt and aggregates in California and Nevada. Dispatch has operated for almost 60 years and is considered a leader and “brand name” in its markets. Within nine months of Balmoral’s investment, Dispatch expanded into Northern California through the purchase of certain assets of a local company.

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Industry: Logistics / Transportation

Status: Active

Date of investment: September, 2011

Headquarters: Fontana, CA

Leadership: Bruce Degler, Founder and CEO; Kim Pugmire, President

Transaction type: Asset purchase from a bank via UCC Article IX purchase.

Structure: Control, with significant management ownership

Balmoral opportunity: Dispatch was an opportunity for Balmoral to invest alongside its founder in one of the most significant dirt and aggregate hauling companies in the region and to reinvigorate itself with a strengthened balance sheet. The new liquidity has allowed Dispatch the opportunity to pursue large projects, acquire a business in an adjacent territory and invest in growth.

Website: www.dispatchtrans.com

GlobalOptions

GlobalOptions

Provides workers’ compensation fraud and investigation services for large companies, insurers and third-party administrators. GlobalOptions’ proprietary GlobalTrack software allows customers to aggregate their data and better manage their operations. Its blue-chip customer base provides a stable platform for growth in a fragmented multi-billion dollar industry.

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Industry: Insurance Services / Software

Status: Fully Exited

Date of investment: July, 2010

Headquarters: Orlando, FL

Leadership: Frank Pinder, CEO

Transaction type: Corporate divestiture.

Structure: Shared-control with another sponsor and with significant management ownership

Balmoral opportunity: Balmoral partnered with the management team of a division of a microcap public company that had sought to liberate the business unit from its parent and grow its business, which enjoys attractive contribution margins.

Website: www.globaloptions.com

Bennington Marine

Bennington Marine

Balmoral invested alongside its founder in what has grown to become the leading manufacturer of pontoon boats in North America. The 15 year old brand is best known for fit and finish, comfort and aesthetic appeal. It dominates the middle- to high-end segments of the pontoon market. Bennington has won or been runner-up for the J.D. Power award in pontoon boats every year it has been offered.

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Industry: Boat Manufacturing

Status: Active

Date of investment: December, 2009

Headquarters: Elkhart, IN

Leadership: Steve Vogel, Founder and CEO

Transaction type: Asset purchase from a bank via UCC Article IX purchase.

Structure: Shared-control with management

Balmoral opportunity: Balmoral joined forces with a strong and committed management team, which included Bennington’s founder and former CEO. Together, we worked to enhance the company’s relationship with its floorplan lender and address the needs of an under-inventoried dealer channel.

Website: www.benningtonmarine.com

Tara Technologies

Tara Technologies

Tara Technologies is a designer, tester and manufacturer of precision components and systems used in critical applications for leading global manufacturers in semiconductor, aerospace, military, energy and medical markets for 50+ years. Tara was a sole-supplier of critical parts to many of its customers, including Applied Materials.

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Industry: Precision components and systems

Status: Fully Exited - Balmoral sold Tara Technologies in July 2011.

Date of investment: March, 2006

Headquarters: Daytona Beach, FL

Transaction type: Corporate divestiture

Structure: Shared-control with another sponsor and with significant management ownership

Balmoral opportunity: Tara was the last business unit of an orphaned division that had otherwise been sold off in pieces. Balmoral saw an opportunity to support the management team of Tara and implement a turnaround plan which consisted of branding itself, opening up an office in Singapore and diversifying revenue into other markets, including oil & gas, industrial and aerospace.

Website: http://balmoralfunds.com/enpro-industries-acquires-tara-technologies-creates-business-unit-dedicated-to-high-performance-products/

Interstate Southwest

Interstate Southwest

Interstate Southwest is a leading provider of closed die steel forgings, specializing in large components (10 to 2,500 pounds) with complex geometries. ISW provides customers a full range of services including tool design and manufacturing, engineering, prototyping, forging, heat treating and machining.

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Industry: Steel forging / Heavy industrial

Status: Fully Exited - Balmoral sold ISW in September 2008

Date of investment: January, 2007

Headquarters: Navasota, TX

Transaction type: Corporate divestiture

Balmoral opportunity: ISW was an opportunity for Balmoral to acquire an unprofitable business unit from a large auto-part casting company which was in bankruptcy. Despite ISW’s unprofitability, Balmoral and key managers saw the chance to shed unprofitable business, add customers and increase the sale of higher margin products. The turnaround also included a preventative maintenance program and upgrading the physical appearance of the plant. Balmoral partnered with the key managers to acquire and complete a successful turnaround of the company.

Website: http://balmoralfunds.com/balmoral-sells-interstate-southwest-ltd-to-the-ellwood-group/