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Cortec Portfolio Company Eyeconic Vision Partners Announces the Acquisition of Swagel-Wootton Hiatt Eye Center

July 2017

(New York, NY) – Cortec Group (“Cortec”), a New York-based private equity firm which invests in middle-market specialty healthcare, business-to-business and consumer products, and services businesses, announced that on July 6, 2017, Eye Academy Holdings, Inc. (“Eyeconic Vision Partners” or “EVP”), a portfolio company of Cortec Group Fund VI, L.P. (“Cortec Fund VI”), acquired Swagel-Wootton Hiatt Eye Center, Ltd. (“SWH”). Terms of the transaction were not disclosed.

Based in the Phoenix, AZ metropolitan area, SWH operates two clinics and one ambulatory surgery center that are exclusively focused on the treatment of ophthalmic conditions. SWH has built a reputation as one of the leading ophthalmology service providers in the greater Phoenix market through its expert team of physician specialists, advanced surgical and treatment technology, culture of high quality patient care, and comprehensive eye care treatments, with a focus on refractive cataract surgery and other advanced surgical care.

Ryan Heckman, CEO of EVP, commented, “SWH has a 55-year reputation for excellent service to the community, quality treatment outcomes and inspired doctors that care deeply for their patients and family members – we could not be more honored to grow with this amazing team.”

“Being a part of Eyeconic Vision Partners and its other leading practices in Colorado and Texas will allow us to focus more intensely on providing excellent patient care while offering growth opportunities to our entire team,” added Dr. Drew Hiatt, M.D., CEO of SWH. “I am looking forward to working with Ryan and the team at EVP who share our values for quality, integrity and devoted service to our community.”

“We share the EVP management team’s excitement for such a highly strategic acquisition,” said Jeffrey Lipsitz, a Cortec Managing Partner. Cortec Partner Jonathan Stein added, “We are pleased to be able to support our management team as they continue to expand the scale of the EVP organization.”

The SWH acquisition represents EVP’s first acquisition since completing a recapitalization with Cortec Fund VI in December 2016.

About Eyeconic Vision Partners

Headquartered in Denver, CO, EVP operates 13 clinics and 6 ambulatory surgery centers exclusively focused on the treatment of ophthalmic conditions. Eyeconic Vision Partners’ network includes locations in Colorado, Texas and Arizona.

About Cortec

Founded in 1984, Cortec invests in middle-market specialty healthcare, business-to-business and consumer products, and services businesses with owners and management teams who want to work with us to drive growth and improve business fundamentals.  Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Sale of Cranial Technologies Holdings, Inc. – Represents the Final Platform Liquidity Event for Cortec Fund IV

May 2017

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market healthcare, consumer and business-to-business products and service businesses, is pleased to announce that its affiliate, Cortec Group Fund IV, L.P. (“Cortec Fund IV”), has sold Cranial Technologies Holdings, Inc. (“Cranial” or the “Company”) to affiliates of Beecken Petty O’Keefe & Company. Terms of the transaction were not disclosed.

Based in Tempe, AZ, Cranial is the U.S. leader in the treatment of plagiocephaly, or flat head syndrome, which typically manifests itself in infants 3 to 18 months of age. The Company’s skilled clinicians provide superior patient outcomes through a network of 37 treatment centers using a proprietary FDA-cleared cranial orthotic helmet, which is custom manufactured in-house. Additional information on Cranial is available at www.cranialtech.com.

Cortec acquired Cranial in December 2011 from its founder. “During our ownership we successfully transitioned from legacy entrepreneur leadership and implemented a robust clinic expansion strategy, opening 20 new treatment centers since 2012,” stated Jeffrey Lipsitz, a Managing Partner at Cortec. Jeffrey Shannon, a Partner at Cortec, added, “With targeted investments in key sales and marketing initiatives, the Company successfully drove meaningful same store and new clinic revenue and earnings growth.” Lipsitz concluded, “We are very pleased with the outcome for Cranial’s shareholders and management and believe that Beecken Petty will be an excellent partner for management going forward.”

Carol Erickson, CEO of Cranial, added: “Cortec was a great partner for me and my team over the last five plus years. Their insights and experience growing multi-site healthcare businesses through strategic and tactical insights proved invaluable as we expanded our footprint and created a foundation for continued future growth.”

The Cortec team included Jeffrey Lipsitz, Jeffrey Shannon, Bill Tucker and Jack Miner. Cranial was co-advised in the transaction by Cain Brothers & Company, LLC and Raymond James & Associates, Inc., with Paul Hastings LLP and Arent Fox LLP serving as legal counsel.

About Cortec Group

Cortec acquires high value-added, middle-market healthcare, specialty products and service businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages more than $2 billion in its three active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. In May 2015 Cortec raised its sixth institutional fund with $1.1 billion in commitments. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Portfolio Company Chauvet & Sons LLC Announces the Acquisition of ChamSys Ltd.

March 2017

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market specialty business-to-business and consumer products, healthcare, and service businesses, announced that Chauvet & Sons LLC (“Chauvet”), a portfolio company of Cortec Group Fund VI, L.P., acquired ChamSys Ltd. (“ChamSys”), a Southampton, UK-based designer and manufacturer of lighting controllers. Terms of the transaction were not disclosed.

Chauvet is a leading provider of branded entertainment lighting products, trussing, controllers and related equipment used in applications ranging from DJ, club, corporate events, hospitality venues, and houses of worship, to more demanding settings including concert tours, theaters, television and “architainment.” ChamSys provides Chauvet a strong presence in the controller market that complements its Chauvet Professional lighting fixtures and LED video panels.

“We are very excited about the opportunity to join forces with ChamSys,” said Albert Chauvet, CEO of Chauvet. “ChamSys has a well-deserved reputation for innovation, quality and value, the same principles that are at the heart of our own Chauvet brands. We’re looking forward to building ChamSys in the USA and making this outstanding line of controllers available to an even larger market. Together ChamSys and Chauvet are now in a position to better cover and serve markets worldwide.”

ChamSys will continue to operate as an independent business unit from its facility in Southampton, UK. ChamSys founders Chris Kennedy and George McDuff will remain as Managing Directors of the company and, together with Sales Director Tony Cameron, will continue to lead its current staff of software and hardware engineers, and its sales and support teams.

Chris Kennedy added “Chauvet and ChamSys share similar cultures, a strong sense of respect for our customers, an appreciation of our staffs and a powerful drive to be the best in our markets. This partnership is clearly a logical step for both companies. We deeply appreciate that Chauvet is committed to building on our 14-year heritage so that ChamSys becomes even stronger in the future.”

Jonathan Stein, a Partner at Cortec, commented “Chauvet has continued to perform very well since our investment last year, and we are pleased to support management in the acquisition of ChamSys. The strategic benefits to both companies were apparent from the first meeting, and we share each team’s enthusiasm to realize their common vision.” He concluded “this investment is consistent with Cortec’s longstanding approach of partnering with entrepreneur owners to grow their companies via organic and acquisition initiatives.”

About Chauvet

Chauvet, headquartered in the U.S. with offices in the U.K., Belgium and Mexico, is a leading global provider of professional luminaires, trusses, controllers and related equipment. The company has a diverse portfolio of brands and award winning products that meet the needs of customers across all sectors of the lighting market, ranging from concert touring to festivals, theater, broadcast, corporate and architectural applications. All brands under the Chauvet umbrella share a commitment to innovation, value and performance. For more information, visit www.chauvetlighting.com

About ChamSys

Based in the U.K., ChamSys was founded in 2003 by a group of designers and product developers seeking to create a lighting console that offered greater user flexibility. The company’s MagicQ controllers have set an industry standard used in some of the most prominent concert, theater, broadcast and club applications around the world. ChamSys has recently launched its new top of the range MagicQ MQ500 Stadium console and will be showing further additions to the Stadium offering at PLS Frankfurt. For more information, visit www.chamsys.co.uk

About Cortec

Founded in 1984, Cortec invests in high value-added, middle-market specialty business-to-business and consumer products, healthcare, and service companies with owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. For more information, visit www.cortecgroup.com.

Cortec Group Announces the Recapitalization of ICON Eyecare

December 2016

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market healthcare, consumer and specialty products and service businesses, announced that on December 14, 2016, a group led by its affiliate, Cortec Group Fund VI, L.P. (“Cortec Fund VI”), in partnership with management, recapitalized The Eye Academy of America Ltd. (“ICON Eyecare” or the “Company”) in support of its merger with Kleiman Evangelista Eye Center (“K&E”). Terms of the transaction were not disclosed.

Headquartered in Denver, CO, ICON Eyecare (including the operations of K&E) operates 11 ophthalmology clinics and five ambulatory surgery centers that are exclusively focused on the treatment of ophthalmic conditions. Founded in 1999, ICON Eyecare has built a leading regional provider of eye care services through an expert team of physician specialists, advanced surgical and treatment technology, and a culture of high quality patient care. ICON Eyecare’s facilities are located in the Denver, CO metro area, Grand Junction, CO and greater Dallas, TX regions and provide a range of eye care procedures and services, including cataract surgery, laser vision correction, corneal surgery, and a variety of treatments for glaucoma and retina conditions.

“ICON Eyecare has demonstrated the ability to become a leader in each of its markets by partnering with leading ophthalmology practices and realizing positive clinical outcomes for its patients. Based on the Company’s strong track record, we are confident in our ability to expand to new regions and strengthen ICON Eyecare’s leadership position.” stated Jeffrey Lipsitz, a Managing Partner at Cortec. “ICON Eyecare has demonstrated exceptional historical financial performance and partnering with Cortec will provide ICON Eyecare with access to substantial additional capital and other resources to accelerate growth and broaden the Company’s footprint, both organically and through the acquisition of other ophthalmology practices,” said Jonathan Stein, a Cortec Partner.

Ryan Heckman, ICON Eyecare’s CEO, who will lead ICON Eyecare while retaining a significant ownership stake, commented that “Cortec is an ideal partner for ICON Eyecare given its track record of successfully investing in multi-site healthcare businesses that provide practitioners with strong platforms to grow while delivering excellent patient care.” Mr. Heckman further noted that “Cortec also shares ICON Eyecare’s commitment to service, quality and patient outcomes, which is extremely important as we expand to new locations. We are excited to partner with Cortec as we enter our next phase of growth.”

The ICON Eyecare recapitalization represents Cortec Fund VI’s third platform investment.

About ICON

Headquartered in Denver, CO, ICON Eyecare operates clinics and ambulatory surgery centers exclusively focused on the treatment of ophthalmic conditions. The Company’s network includes locations in Denver, CO, Grand Junction, CO and Dallas, TX under ICON Eyecare and Kleiman Evangelista Eye Center. Please visit www.iconeyecare.com to learn more. Additional information on Kleiman Evangelista Eye Center can be found at www.lasiksurgery.com.

About Cortec

Founded in 1984, Cortec invests in high value-added, middle-market healthcare, consumer and specialty products, and service businesses with owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Sale of Franklin Energy Holdings, LLC

November 2016

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market healthcare, consumer and specialty products and service businesses, is pleased to announce that its affiliate, Cortec Group Fund IV, L.P. (“Cortec Fund IV”), has merged Franklin Energy Holdings, LLC (“Franklin” or the “Company”) with AM Conservation Group (“AMCG”), a portfolio company of private equity firm Kohlberg & Company, LLC, in exchange for cash consideration.

Based in Port Washington, WI, Franklin is one of the leading energy efficiency (“EE”) program management companies in the United States. The Company designs and implements customized ratepayer-funded EE programs that enable electric and natural gas utilities to (i) comply with legislative and regulatory mandates to reduce energy consumption, (ii) avoid the cost of adding generating capacity by managing demand growth, and (iii) promote “green” environmental conservation measures. Additional information on Franklin is available at www.franklinenergy.com.

Under Cortec’s ownership Franklin expanded from a Midwest regional player into one of the largest national providers of EE program management services, increasing its headcount from about 200 to nearly 600. Scott Schafler, a Managing Partner at Cortec, stated: “By investing in the business over the last six years to expand Franklin’s leadership team, improve systems, and complete the strategic acquisition of Resource Action Programs, LLC, management, together with Cortec, significantly grew the Company’s revenues and earnings. We also meaningfully diversified Franklin’s service offerings, customer base, and geographic presence.” Jonathan Stein, a Partner at Cortec, added, “We are very pleased with the results of our partnership with Franklin’s management. All the stakeholders in Franklin were highly rewarded for their efforts and we share management’s enthusiasm for their next phase of growth in affiliation with AMCG.”

About Cortec Group

Cortec acquires high value-added, middle market healthcare, consumer and specialty service businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $2 billion in its three active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. In May 2015 Cortec raised its sixth institutional fund with $1.1 billion in commitments. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces New Hires & Promotion

October 2016

(New York, NY) — Cortec Group (“Cortec” or the “Firm”), a New York based private equity firm which invests in middle-market specialty healthcare, consumer and niche products, service, and distribution businesses, is pleased to announce two new hires and a promotion.

On October 1, Robert Whipple, most recently a Principal at Apax Partners, joined Cortec as a Managing Director. Jack Miner, an Associate with Cortec since 2011, was promoted to Vice President effective on August 1. On July 18, Cortec hired Nick Cooper as an Associate from Piper Jaffray & Co., where he was an Analyst.

Rob Whipple comes to Cortec with more than a decade of private equity experience from Apax and Aurora Capital Group, and with prior experience in investment banking at Morgan Stanley. Managing Partner Dave Schnadig stated, “we are excited to have a Managing Director of Rob’s caliber join the Cortec team. He will immediately enhance our ability to process multiple transactions simultaneously, while helping us build the next generation of Firm leadership.” Managing Partner Jeff Lipsitz said of Jack Miner, “his promotion evidences Jack’s demonstrated success both analytically and from relationship-building standpoints. He a is proven asset to Cortec.” Cortec Managing Partner Mike Najjar added, “Nick Cooper was a top-ranked Analyst at Piper, we expect him to contribute meaningfully over the coming years.”

In the past fifteen months Cortec has hired five new team members, while promoting four executives to more senior roles. Cortec is excited by the expansion of its team, both through the hiring of top-level talent and internal progression. “Having founded Cortec more than 30 years ago, it is gratifying to see the firm continue to grow and add talent at all levels”, said Managing Partner Scott Schafler.

Cortec is investing from Cortec Group Fund VI, L.P., a $1.1 billion fund focused primarily on: i) helping entrepreneurs build the infrastructure necessary to facilitate long-term company growth and ii) managing senior leadership transitions in businesses where an owner wishes to retire or step back from daily operations.

Cortec acquires high value-added, middle market healthcare, consumer and specialty products, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals.

The Firm currently manages over $2.1 billion in its three active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces Investment in Chauvet Lighting

April 2016

(New York, NY) — Cortec Group ("Cortec"), a private equity firm which invests in consumer, healthcare, and specialty products, service and distribution businesses, announced that on March 29, 2016, a group led by its affiliate, Cortec Group Fund VI, L.P. ("Cortec Fund VI"), in partnership with management, made a substantial investment in Chauvet and Sons, LLC ("Chauvet" or the "Company"). Terms of the transaction were not disclosed.

Founded in 1990 by Albert Chauvet and headquartered in Sunrise, Florida, Chauvet is a leading developer and marketer of branded entertainment and architectural lighting products, trussing, controllers and related equipment used in applications ranging from DJ, club, corporate events, hospitality venues, and houses of worship, to more demanding settings including concert tours, theaters, television and “architainment.” The Chauvet family remains significant investors in the company.

Chauvet serves customers throughout the world from its facilities in the U.S. (Florida and California), United Kingdom, Belgium and Mexico as well as via a global network of approximately 2,000 authorized dealers and distributors. Albert Chauvet, who will continue to lead the business, stated: “Finding the right partner to help our team continue its rapid pace of new product introductions, global expansion and growth was critical. Cortec understood our business and brought relevant experience to the table. They did everything they said they would, and closed the transaction on schedule and as promised.”

“We have been very impressed by Chauvet’s strong position in the DJ market and how, through their focus on product innovation and superior value proposition, they have established themselves as a leading player in the Professional market” said Scott Schafler, a Managing Partner at Cortec. “We look forward to supporting Albert and the Chauvet management team as they continue to grow their business and market presence globally” added David Schnadig, a Managing Partner at Cortec. Jonathan Stein, a Partner at Cortec, concluded “Chauvet is a great fit for Cortec; we are confident that our experience successfully partnering with and providing expansion capital for entrepreneur-owned businesses can bring value to Chauvet.”

The Chauvet transaction is the second platform investment in Cortec Fund VI, a $1.1 billion fund that closed in May 2015.

About Chauvet

Chauvet is a leading developer of luminaires, trussing, controllers, atmospherics and related equipment marketed globally under four main brands: CHAUVET® DJ, CHAUVET® Professional, ILUMINARC® and TRUSST®. Each Chauvet brand serves a different customer need, but shares the Company’s focus on positively impacting every market segment with a competitive advantage in terms of value, innovation and performance. Founded in 1990 by Albert and Berenice Chauvet, the Company is widely recognized for its leadership in bringing successful concepts to market, including pioneering the development of affordable LED color mixing fixtures. To find out more about Chauvet, its mission, vision, career opportunities and corporate charitable and community activities, please visit www.chauvetlighting.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market consumer, healthcare, and specialty products, service and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces The Acquisition of Center for Vein Restoration

January 2016

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market healthcare, specialty service, consumer, and distribution businesses, announced that on January 4, 2016, a group led by its affiliate, Cortec Group Fund VI, L.P. (“Cortec Fund VI”), in partnership with management, acquired CVR Management, LLC (“Center for Vein Restoration”, “CVR” or the “Company”). Terms of the transaction were not disclosed.

Headquartered in Greenbelt, MD, CVR provides management services to a network of 43 clinics that provide medical treatment for various grades of chronic venous insufficiency (commonly known as varicose and/or spider veins). The clinics, located through the Mid-Atlantic and Northeastern United States, offer diagnostic and treatment services primarily utilizing ultrasound, sclerotherapy and laser and radiofrequency ablations.

“CVR’s industry-leading reputation was built by its exceptional medical staff, expertise in the treatment of venous disease, and commitment to realizing positive clinical outcomes for each patient the Company treats. This reputation has allowed the Company to expand geographically and generate impressive growth and strong financial performance,” stated Jeffrey A. Lipsitz, a Managing Partner at Cortec. Jeffrey Shannon, a Partner at Cortec added, “We are looking forward to working with CVR’s outstanding management team and network of physicians to build upon the Company’s successful track record of clinic expansion in CVR’s existing markets and strategically entering new geographies.”

Dr. Sanjiv Lakhanpal, CVR’s founder, President and CEO, who will continue to lead CVR while retaining a significant ownership stake, commented that, “Cortec’s experience with multi-site healthcare businesses and sales and marketing organizations makes them an excellent partner in our next phase of growth.” Dr. Lakhanpal explained, “Cortec also understands CVR’s commitment to provide physicians with the highest levels of support, which allows them to maintain high-quality service and excellent patient outcomes, which is extremely important as we expand our footprint.”

The CVR acquisition represents the first platform investment in Cortec Fund VI, a $1.1 billion fund that closed in May 2015.

Piper Jaffray served as financial advisor to CVR.

About Center for Vein Restoration

CVR is a nationally recognized leader in the treatment of varicose and spider veins. The Company provides management services to 43 vein treatment clinics throughout the Mid-Atlantic and Northeastern United States with clinics in Maryland, Virginia, New Jersey, New York, Washington DC, Michigan and Pennsylvania. Please visit www.centerforvein.com to learn more.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market healthcare, specialty service, consumer, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces The Acquisition of Community Veterinary Partners

October 2015

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market healthcare, specialty service, consumer, and distribution businesses, announced that on October 30, 2015, a group led by its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), in partnership with management, recapitalized Community Veterinary Partners, LLC (“CVP” or the “Company”). Terms of the transaction were not disclosed.

Headquartered in Philadelphia, PA, CVP manages a network of veterinary hospitals located predominantly in the northeastern U.S. CVP was founded in 2009 with the goal of supporting veterinarians who provide great clinical medicine and benefit from general business tools to manage and grow their hospitals. To enhance their operations, CVP hospitals are provided access to various resources in the areas of marketing, leadership development, finance, and human resources. Importantly, local medical leaders retain all clinical decision-making authority. CVP’s mission is to provide operational support to its hospitals, enabling veterinarians to focus on practicing medicine and providing high quality pet and animal care.

“We believe CVP’s model of partnering with veterinarians and focus on the delivery of high quality medical services has proven to be a key differentiator in the market. CVP’s successful track record of attracting leading regional veterinarians to its network speaks for itself.” said Jeffrey Lipsitz, a Managing Partner at Cortec. “We are excited about the path forward. In partnership with Cortec, CVP will now have the resources needed to support management’s ambitious plans to expand the network’s footprint throughout the Eastern U.S.”, added Jeffrey Shannon, a Cortec Partner.

Daniel Eisenstadt, CVP’s co-founder and Chairman, who together with co-founder Michael Raphael will continue to drive the growth of CVP while retaining significant ownership, commented that, “Cortec is an ideal partner for CVP, given their investment experience in healthcare and multi-site businesses and strong track record of helping founder-owned businesses achieve their next level of growth.” Raphael further stated that, “Cortec also shares CVP’s commitment to supporting veterinarians and maintaining the culture and standard of care of our growing group of practices.” Fali Sidhva, CVP’s President and Chief Operating Officer, added, “We look forward to building on the growth our company has enjoyed. Our entire management team is enthusiastic about the capabilities that Cortec brings to CVP to continue that expansion trend while providing added support to our partner hospitals.”

The CVP acquisition represents Cortec Fund V’s eighth and final platform investment. Cortec is now making new platform investments out of Cortec Fund VI, a $1.1 billion fund that closed in May 2015.

Piper Jaffray served as financial advisor to CVP.

About CVP

CVP manages 17 veterinary hospitals located throughout the northeastern United States. The Company owns hospitals in Pennsylvania (12), New York (2), New Jersey (1), Maryland (1) and Connecticut (1). CVP hospitals have the benefit of accessing various business tools to manage their hospital, while keeping local control of clinical medicine. Please visit www.cvpco.com to learn more.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market healthcare, specialty service, consumer, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces Promotions and New Hires

August 2015

(New York, NY) — Cortec Group ("Cortec" or the "Firm"), a New York based private equity firm which invests in middle-market healthcare, consumer and specialty products, service, and distribution businesses, is pleased to announce a number of key promotions and new hires during the past few months.

Coincident with the May 22, 2015 final closing of Cortec Group Fund VI, L.P. (“Cortec VI”) at its hard cap of $1.1 billion, Mike Najjar was promoted to Managing Partner, joining Dave Schnadig, Jeff Lipsitz and Scott Schafler. At the same time, Jeff Shannon became a Partner of the Firm and Bill Tucker was elevated to Managing Director.

On May 11, 2015, Cortec hired Michael Neuberger as its Chief Financial Officer. Michael came to the Firm after leading the Fund Accounting Group at Cerberus Capital Management and with sixteen years prior experience as a Controller at Goldman Sachs. Jessica Palfrey joined the Firm on July 20 as an Associate after two years at BlackArch Partners, a leading middle-market investment bank based in Charlotte, NC. On August 3 Doug Kruep arrived at Cortec as a Managing Director. Doug was previously Vice President and General Manager U.S. Sports & Entertainment at The Topps Company, with relevant prior leadership experience at Jarden Corporation and Newell Rubbermaid. Doug brings deep and broad knowledge of consumer and business-to-business products strategy and markets to the Firm.

Cortec is excited by the continued expansion of its team, both through internal progression and hiring of top-level talent. In Cortec VI we look forward to continuing our proven formula of: i) helping entrepreneurs build the infrastructure necessary to facilitate long-term company growth and ii) managing senior leadership transitions in businesses where an owner wishes to retire or step back from daily operations.

Cortec acquires high value-added, middle market healthcare, consumer and specialty products, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. The Firm currently manages over $2.1 billion in its three active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Sale of Katena Holdings, Inc.

June 2015

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market healthcare, consumer and specialty products, service, and distribution businesses, is pleased to announce that its affiliate, Cortec Group Fund IV, L.P. (“Cortec Fund IV”), has sold Katena Holdings, Inc. (“Katena” or the “Company”) to affiliates of Audax Private Equity.

Katena is a leading specialty surgical and consumable ophthalmic products company providing instruments, biologics and devices under the Katena® and IOP® brand names. Katena’s proprietary products are sold globally in more than 110 countries to hospitals, ambulatory surgery centers, individual ophthalmic surgeons, and optometrists. Additional information on Katena is available at www.katena.com.

Cortec acquired Katena from its founders who retired from the Company at closing. “During our ownership we transitioned Katena from a successful founder-managed instruments business into a diversified specialty ophthalmic products growth company led by a seasoned management team” stated Scott Schafler, a Managing Partner at Cortec. Jonathan Stein, a Partner at Cortec, added, “Through the creation of a national direct salesforce, as well as the execution of a highly strategic add-on acquisition, we doubled Katena’s size and profitability.” Schafler concluded: “We are extremely pleased with the outcome for Katena’s shareholders and management and believe that Audax will be an excellent partner for management going forward.”

About Cortec Group

Cortec acquires high value-added, middle market healthcare, consumer and specialty products, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $2 billion in its three active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. In May 2015 Cortec raised its sixth institutional fund with $1.1 billion in commitments. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Completes Raise Of Cortec Fund VI

May 2015

(New York, NY) — Cortec Group www.cortecgroup.com ("Cortec"), a New York-based private equity firm which invests in U.S. and Canadian middle-market specialty healthcare, consumer and engineered products, and value-added distribution and service businesses, announced that on May 21, 2015, Cortec Group Fund VI, L.P. and its affiliated funds (“Cortec Fund VI”) held a final closing on $1.1 billion.

“We are very pleased to announce that after approximately two months of fundraising-related meetings we completed the Cortec Fund VI raise, hitting our hard cap,” said Dave Schnadig, a Managing Partner at Cortec. “We are appreciative of the support from our existing investors and enthusiastic about the addition of several well-respected new institutions to our latest limited partnership,” added Jeff Lipsitz, a Cortec Managing Partner. “To experience the firm’s evolution from its first institutional capital pool of $27 million in 1990 to our current level is extremely gratifying,” said Scott Schafler, a Cortec founder and Managing Partner. The senior Cortec team, which includes Partners Jon Stein, Gene Nesbeda and Jeff Shannon, has worked together for many years and remains intact for Cortec Fund VI.

Cortec focuses on investing in three types of opportunities:

  • Entrepreneurs leading high growth companies who are looking for an experienced teammate to help them implement systems, processes and controls, and hire personnel to build the foundation for sustainable future expansion;
  • Business owners seeking to transition out of their companies who want a value-added partner to manage the process while maintaining the culture and goodwill of the business with employees, customers and suppliers; and
  • Carve-outs of corporate divisions which lack a complete leadership team, cohesive business strategy and/or face other challenges requiring change or improvement.

“Based on various third-party indices, under the leadership of its current Managing Partners, Cortec has delivered consistently attractive returns to its investors,” noted Mike Najjar, who was promoted to Managing Partner coincident with the final closing of Cortec Fund VI.

“We believe our success in working with business owners who want a partner that brings a combination of real-world business experience and private equity knowledge is unrivaled in the middle market,” said Jeff Lipsitz. Dave Schnadig added, “In fact, a number of our former and current portfolio company CEOs and senior executives believe so strongly in our strategy that they invested nearly $20 million in Cortec Fund VI.”

As with its prior three funds, Cortec Fund VI will focus on platform investments with revenues of more than $25 million and $5-30 million in trailing EBITDA.

Cortec Group Announces the Acquisition of Urnex Brands, LLC

April 2015

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market consumer, specialty service, healthcare, and distribution businesses, announced that on April 16, 2015, a group led by its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), and Urnex management acquired Urnex Brands, LLC (“Urnex” or the “Company”). Terms of the transaction were not disclosed.

Founded in 1936 and headquartered in Elmsford, NY, Urnex manufactures a comprehensive portfolio of coffee machine cleaning products for commercial and household use. The Company’s products are critical to ensuring better tasting coffee, keeping brewing equipment clean and driving greater machine functionality and durability. A variety of brand names, including Urnex®, Puro®, and Full Circle® are familiar to customers around the world. Urnex maintains a loyal, long-standing and diverse customer base of leading coffee roasters, food service providers, equipment manufacturers and retailers.

Joshua Dick, Urnex’s President and CEO, who will continue in his current role and retain a significant ownership interest in Urnex, stated “We were seeking a partner who would help drive Urnex’s expansion plans and support the Company in its next phase of growth.” He further stated that “Cortec’s relevant experience and track record of successfully investing in entrepreneur-led, high-growth businesses, as well as deep specialty consumer products experience was extremely important to me.”

Urnex has built an outstanding long-term track record of growth under Josh’s leadership, and has become the market leader in the coffee machine cleaning products industry. “The Company’s success is directly attributable to the Urnex® brand and its reputation for quality, efficacy and value among a broad range of commercial and household consumers”, said David Schnadig, a Managing Partner at Cortec. “We are gratified Josh chose to work with Cortec to support Urnex’s near and longer-term growth objectives,” added Mike Najjar, also a Managing Partner at Cortec. “We are thrilled to be partnering with a great team and look forward to building on the Company’s outstanding track record of success.” The Urnex acquisition represents Cortec Fund V’s seventh platform investment.

Robert W. Baird & Co. served as financial advisor to Urnex.

About Urnex

Urnex manufactures and markets coffee machine cleaning products to a variety of end markets in more than 70 countries. The Company offers a comprehensive portfolio of coffee machine cleaning, descaling and sanitizing products in a variety of forms (e.g., liquid, tablet, powder, etc.) which are sold under the Urnex®, Puro®, and Full Circle® brand names, among others. These products are sold to leading coffee chains, foodservice providers, machine manufacturers, and retailers. Urnex operates from a headquarters and manufacturing facility in Elmsford, New York. For additional information, please visit www.urnex.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market consumer, healthcare, and specialty products, service, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of Vidaris and LPI

March 2015

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market specialty service, healthcare, consumer, and distribution businesses, announced that on March 16, 2015, a group led by its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), and management acquired IBA Holdings, LLC d/b/a Vidaris and LPI (“Vidaris”, “LPI”, or the “Company”). Terms of the transaction were not disclosed.

Founded nearly 90 years ago and headquartered in New York, NY, Vidaris and LPI are leading specialty architectural and engineering consulting firms, respectively, providing highly technical, value-added advisory, inspection and testing services. The Company employs over 200 professionals in eight offices worldwide and serves as an independent third-party advisor for leading developers, property owners, industrial operators, utilities, architects and engineers. The Company’s multidisciplinary, integrated service offering includes three major segments: (i) Building Envelope: wall, window, roof and restoration consulting; (ii) Engineering: fitness-for-service and failure analysis; and (iii) Energy: building sustainability /energy efficiency consulting.

Marc Weissbach, Vidaris CEO, stated, “The investment from Cortec presents extraordinary opportunities for our employees and will provide the capital and additional experience to enable us to rapidly grow our practice. I am fortunate to have had the opportunity to work closely with Cortec’s team throughout the process, and I am confident they will make a meaningful contribution while maintaining our culture and values.” Mr. Weissbach and the firm’s partners, including founding partner Israel Berger, will continue as shareholders and employees following closing. Jeffrey Somerlot, Robert Vecchio, and Adrian Tuluca lead the Envelope, Engineering, and Energy practices, respectively. Former NYC Buildings Commissioner, Robert LiMandri, has recently established its Code Advisory practice.

“Vidaris and LPI have an outstanding reputation with their customers as leaders in their technical service offerings. We were attracted to the company based on the success they have achieved in the market and the opportunities to expand their business in the future.” said Scott Schafler, a Managing Partner at Cortec. “We look forward to supporting Marc Weissbach and the management team to continue to grow their core business and to expand their services and geographic footprint.” added Jeffrey Lipsitz, a Managing Partner at Cortec. Jonathan Stein, a Partner at Cortec, concluded “Vidaris and LPI align well with Cortec’s strategy of partnering with management teams of high value-added businesses to accelerate their organic and acquisition driven growth.” The Vidaris acquisition represents Cortec Fund V’s sixth platform investment.

About Vidaris

Vidaris is a provider of niche consulting services within the architecture, engineering and construction industries focusing on high-performance buildings and specialty structures. Using an integrated approach, its professionals provide solutions for building envelope, energy efficiency and sustainability projects. Through its Lucius Pitkin, Inc. subsidiary, a firm which has roots in New York going back to 1885, Vidaris provides complex engineering services relatd to failure analyses and fitness for service, including metallurgy, stress analysis, and fracture mechanics. For additional information, please visit www.vidaris.com and www.lpiny.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market consumer, healthcare, and specialty products, service, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Portfolio Company Barcodes Group, Inc. Announces The Acquisition of OCR Canada, LTD.

December 2014

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market distribution, healthcare, consumer, and specialty products and service businesses, announced that on December 9, 2014, Barcodes, Inc. (“Barcodes”), a portfolio company of Cortec Group Fund V, L.P. (“Cortec V”), acquired OCR Canada, Ltd. (“OCR”). Terms of the transaction were not disclosed.

Based in Markham, Ontario, OCR is a leader in the delivery of automated identification and data capture (“AIDC”) solutions to companies throughout Canada. OCR provides data capture, mobile computing, and wireless infrastructure products along with custom software applications and onsite integration and support services to over 8,000 customers.

Dan Nettesheim, CEO of Barcodes, commented, “Our goal is to make capturing and managing enterprise data easier than ever before for our customers. With OCR’s leadership position in enterprise mobility, RFID, and barcode solutions in Canada, we will combine our strengths to provide a greater product, software and professional services offering to our customers across North America.”

“Being a part of Barcodes will allow us to do even more for our customers than we could have on our own,” added Jack Art, President of OCR. “In addition to improving our digital service capabilities for our customers, we will increase our technical and service capabilities and further strengthen our relationships with premier OEM partners across the industry.”

“We share the Barcodes management team’s excitement for such a highly strategic acquisition,” said Dave Schnadig, a Cortec Managing Partner. Cortec Partner Mike Najjar added, “The combined product lines and software and professional services capabilities of these two companies provide meaningful opportunities for future growth throughout North America. We look forward to working with the OCR team to continue to expand on its leadership position in the Canadian AIDC market.”

The OCR acquisition represents Cortec V’s ninth acquisition.

About Barcodes

Founded in 1994, Barcodes is a recognized leader in the delivery of AIDC products and solutions in North America, providing barcoding, RFID, and enterprise mobility capabilities to small- and medium-sized businesses, as well as to two-thirds of the Fortune 500. For additional information, please visit www.barcodesinc.com.

About OCR

Founded in 1972, OCR is a leader in the delivery of AIDC solutions to companies throughout Canada, providing data capture, mobile computing, and custom software solutions along with onsite integration and support services. For additional information, please visit www.ocr.ca.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market distribution, healthcare, consumer, and specialty products and service businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces The Sale of CGI Windows and Doors Holdings, Inc.

September 2014

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market building, consumer, healthcare and specialty products, service, and distribution businesses, is pleased to announce that its affiliate, Cortec Group Fund IV, L.P. (“Cortec Fund IV”), sold CGI Windows and Doors Holdings, Inc. (“CGI” or the “Company”) to PGT, Inc., a leading manufacturer and supplier of residential impact-resistant windows and doors based in North Venice, FL.

CGI is a leading producer of high quality impact-resistant aluminum and vinyl framed windows and doors sold under the Estate™, Sentinel™, and Targa™ brand names for single- and multi-family residential construction, as well as hotels and light commercial projects in Florida and the Caribbean. The Company’s comprehensive product offering is compliant with the rigorous Miami-Dade and Florida Building Code certifications and products are 100% made-to-order in CGI’s facility in Miami, FL. Additional information on CGI is available at www.cgiwindows.com.

“Over the course of our involvement with CGI, we built on a legacy of success; assembling a world-class team and enabling them to invest through the downturn launching new products and expanding distribution,” stated Jeffrey A. Lipsitz, a Managing Partner at Cortec. Michael E. Najjar, a Partner at Cortec, added, “A lot of hard work resulted in a great outcome for management, for Cortec and its investors and for PGT who bought a great company poised for continued growth. It was a pleasure to work with this team and we wish them well in the future.”

CGI was co-advised on the transaction by KeyBanc Capital Markets Inc. and Piper Jaffray & Co., with DLA Piper LLP serving as counsel.

About Cortec Group

Cortec acquires high value-added, middle market building, consumer, healthcare and specialty products, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of Inter V Medical by Canadian Hospital Specialties

September 2014

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market healthcare, consumer, and specialty products, service and distribution businesses, announced that on September 3, 2014, CHSL Holdco, Inc. (“CHS”), a portfolio company of Cortec Group Fund V, L.P. (“Cortec V”), acquired Inter V Medical Inc. (“IVM”), a portfolio company of Entrepreneur Capital Inc. (“Entrepreneur Capital”), a Montreal-based private equity firm. Terms of the transaction were not disclosed.

Based in Montreal, Quebec, IVM markets and distributes medical products provided by global device manufacturers to the Canadian hospital market. The Company maintains long-standing, exclusive distribution relationships with leading manufacturers of products used primarily in the biopsy, cardiology and endovascular surgical end markets.

David Enns, CEO of CHS, commented, “The acquisition of IVM will allow CHS to expand our interventional sales division into adjacent hospital segments with a highly complementary product portfolio. As CHS and IVM serve a very similar hospital customer base, the combination of these two highly-respected and successful companies further enhances CHS’ leading presence in Canada, and allows us to provide more comprehensive solutions, and thereby greater value, to our customers.”

“We share the CHS management team’s enthusiasm for the acquisition,” added Jeffrey Lipsitz, a Managing Partner at Cortec. “This highly strategic acquisition provides both companies with compelling opportunities for future growth. We look forward to working with the IVM team to create a leader in the Canadian acute care market.”

The IVM acquisition represents Cortec V’s eighth acquisition.

About CHS

Based in Oakville, Ontario, CHS manufactures, sells, markets and distributes disposable medical and surgical products primarily to the Canadian hospital market. CHS conducts its business through three key segments: (i) production and sale of its proprietary MED-RX branded products; (ii) exclusive sale and distribution in Canada of products supplied by global medical device manufacturers; and (iii) outsourced manufacturing of disposable medical products for OEM healthcare companies. For additional information, please visit www.chsltd.com.

About IVM

Founded in 1992, IVM is a leading provider of medical products developed by global device manufacturers to the Canadian hospital market. For additional information, please visit www.intervmedical.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market healthcare, consumer, and specialty products, service, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Weiman Acquires Specialty Cleaning Division from Homax

January 2014

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market consumer, healthcare, and specialty products, service and distribution businesses, is pleased to announce that Weiman Products, LLC (“Weiman” or the “Company”), a recently acquired portfolio company of Cortec Group Fund V, L.P. (“Cortec Fund V”), has acquired all of the specialty cleaning brands of The Homax Group, Inc. (“Homax”). Homax’s specialty cleaning brands include Goo Gone®, Magic®, Stone Care International®, Natural Magic®, OOPS!® Paint Remover, and Gonzo.

“Adding Homax’s specialty cleaning brands to Weiman solidifies the Company’s position as the leading specialty cleaning products provider in the market,” said Carl DeMasi, Weiman’s President and CEO. “We fully expect our customers, suppliers, and employees to benefit from this acquisition.”

“This acquisition made perfect sense for Weiman,” added David Schnadig, a Managing Partner at Cortec. “Homax’s specialty cleaning product line is highly complementary to Weiman’s and supplements already strong brand equity and awareness, particularly with the well known Goo Gone® and Magic® brands.”

“We share the Weiman management team’s enthusiasm. This acquisition adds scale, introduces new product categories and provides immediate access to additional served markets,” said Jeffrey Shannon, a Managing Director at Cortec.

The Homax acquisition represents Cortec Fund V’s seventh acquisition.

About Weiman Products, LLC

Based in Gurnee, Illinois, Weiman is a leading provider of premium branded specialty cleaning products for the consumer market and specialty cleaning, sterilization and disinfectant products for the healthcare market. Weiman’s consumer division produces, markets and distributes over 50 formulations of branded specialty household cleaning products, sold under the Weiman® and Wright’s® brand names, that address distinct cleaning needs within home, appliance, furniture and other specialty categories. The Company’s consumer products are sold through a broad base of blue chip retailers in the global mass, food, drug, specialty and e-Commerce channels, covering over 50,000 retail doors. Weiman’s healthcare division develops and manufactures over 60 healthcare formulas, consisting of detergents, instrument care solutions, high level disinfectants for processing surgical instruments, and general surface disinfection products. The Company’s healthcare products are used in the acute, physician, dental and veterinary healthcare markets and are sold to many of the channel’s leading OEMs and distributors.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market consumer, healthcare, and specialty products, service, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of IOP Ophthalmics

December 2013

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market healthcare, consumer, and specialty products, service and distribution businesses, announced that on December 12, 2013, Katena Holdings, Inc. (“Katena”), a portfolio company of Cortec Group Fund IV, L.P., (“Cortec IV”) acquired Arxa5 Corporation d/b/a IOP Ophthalmics (“IOP”). Terms of the transaction were not disclosed.

IOP is an innovation-driven, medical technology company, providing specialty ophthalmic surgical products. IOP develops, commercializes and distributes a wide range of tissue-based and device solutions used in the cornea, glaucoma and oculoplastic subspecialty markets. Its products are sold to hospitals, surgery centers and ophthalmic surgeons.

Bill Friedberg, CEO of Katena, commented “The acquisition of IOP is a logical extension of Katena’s position in the ophthalmic surgical market. As we serve a very similar customer base, this combination of two highly respected and successful companies not only creates greater critical mass in the ophthalmology marketplace, but enhances our ability to provide more clinical solutions and be of greater value to our customers.”

Jonathan Stein, a Partner at Cortec, added “Cortec is excited about the combination of Katena and IOP. This complementary acquisition provides both companies with exciting opportunities for growth in the U.S. and abroad. We look forward to the IOP team joining the Katena organization and Cortec IV portfolio, including IOP’s founders, Jason Malecka and Erich Ziegler, who are now shareholders of Katena.”

About Katena

Katena is a leading designer and marketer of surgical instruments for ophthalmic surgery. Katena’s products are sold globally to hospitals, ambulatory surgery centers and individual ophthalmic surgeons. Katena offers a comprehensive, proprietary line of precision-manufactured, reusable microsurgical instruments sold primarily under the Katena® brand name. Katena also exclusively distributes certain single patient use corneal transplant devices. Additional information about Katena can be found at www.katena.com.

About IOP

IOP specializes in providing preserved human tissue used to treat damaged corneas as well as in connection with certain kinds of glaucoma surgery. IOP also markets several related specialty surgical products used in glaucoma and oculoplastic surgery. IOP’s products are sold under the Ambio5®, Ambio2TM,AmbioDiskTM, Molteno®, and Tutoplast® brands to hospitals, surgery centers and ophthalmic surgeons. Additional information about IOP can be found at www.iopinc.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market healthcare, consumer, and specialty products, service, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of Weiman Products, LLC

November 2013

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market consumer, healthcare, and specialty products, service and distribution businesses, announced that on November 22, 2013, a group led by its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), acquired Weiman Products, LLC (“Weiman” or the “Company”). Terms of the transaction were not disclosed.

Based in Gurnee, Illinois, Weiman is a leading provider of premium branded specialty cleaning products for the consumer market and specialty cleaning, sterilization and disinfectant products for the healthcare market. Weiman’s consumer division produces, markets and distributes over 50 formulations of branded specialty household cleaning products, all sold under the Weiman® or Wright’s® brand names, that address distinct cleaning needs within home, appliance, furniture and other specialty categories. The Company’s consumer products are sold through a broad base of blue chip retailers in the global mass, food, drug, specialty and e-Commerce channels, covering over 50,000 retail doors. The Company’s healthcare division develops and manufactures over 60 healthcare formulas, consisting of detergents, instrument care solutions, high level disinfectants for processing surgical instruments, and general surface disinfection products. The Company’s healthcare products are used in the acute, physician, dental and veterinary healthcare markets and are sold to the channel’s leading OEMs and distributors.

Carl DeMasi, Weiman’s long-time President and CEO, stated, “The entire team at Weiman is thrilled to be teaming with Cortec as we enter our next phase of growth. They bring to the table a unique blend of consumer and healthcare investing experience that will undoubtedly allow us to hit the ground running.” Mr. DeMasi and the rest of the senior management team will continue in their current roles and as shareholders in the Company.

“Weiman has built an outstanding long-term track record under Carl’s leadership, evidenced by 32 consecutive years of sales growth. The Company’s consistent strong performance is directly attributable to the Weiman® brand’s reputation for quality, efficacy and value among a broad range of consumers ,” said David L. Schnadig, a Managing Partner at Cortec. “Weiman’s historical growth has been impressive, but Cortec is even more excited about the Company’s future prospects. Through development of innovative products, expansion into adjacent channels and acquisitions, we believe the Company is poised for accelerated growth and are looking forward to partnering with the Weiman team,” added Jeffrey R. Shannon, a Managing Director at Cortec.

Duff & Phelps Securities, LLC served as financial advisor to Weiman.

The Weiman acquisition represents Cortec Fund V’s fifth platform investment.

About Weiman Products, LLC

Founded in 1963, Weiman is a leading provider of premium branded specialty cleaning products for the consumer market and specialty cleaning, sterilization and disinfectant products for the healthcare market. For additional information, please visit www.weiman.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market consumer, healthcare, and specialty products, service, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of Canadian Hospital Specialties ULC

November 2013

(New York, NY) — Cortec Group ("Cortec"), a New York private equity firm which invests in middle market healthcare, consumer, and specialty products, service and distribution businesses, announced that on November 12, 2013, a group led by its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), acquired Canadian Hospital Specialties ULC (“CHS” or the “Company”). Investing alongside Cortec Fund V are David, Thomas, Gary and Brian Enns, whose father founded the business in 1967, and other key members of the Company’s senior leadership team. Terms of the transaction were not disclosed.

Based in Oakville, Ontario, CHS manufactures, sells, markets and distributes disposable medical and surgical products primarily to the Canadian hospital market. CHS conducts its business through three key segments: (i) production and sale of its proprietary MED-RX branded products; (ii) exclusive sale and distribution in Canada of products supplied by global medical device manufacturers; and (iii) outsourced manufacturing of disposable medical products for OEM healthcare companies. The Company’s product portfolio is comprised of more than 5,000 highly clinical, “outcome-driven” products that are differentiated based on safety, quality, and customization for ease of use and include nursing and anesthesia procedure kits/trays, stents, enteral safe feeding systems, tracheal suction products, chest drains, gastrostomy tubes, needles, catheters, vascular grafts, among many others.

“The Company’s comprehensive and innovative portfolio of branded products and excellent customer service makes CHS a value-added partner for its customers, which has enabled it to secure leading market positions in a number of key Canadian hospital call points,” said Jeffrey A. Lipsitz, a Managing Partner at Cortec.

“As a result of the Company’s highly regarded reputation with hospital purchasing decision makers, we believe CHS is well positioned to continue to penetrate the Canadian hospital market and capitalize on favorable demographic and end market trends,” added Michael E. Najjar, a Partner at Cortec. “We look forward to working with David and the rest of the CHS team to achieve their growth objectives.”

David Enns, President and CEO, who will continue in his current position along with the rest of the Enns family, each of whom will remain a material shareholder, explained, “We were looking for a partner with healthcare investing experience and were impressed with Cortec’s successful track record of working with management teams to grow medical products and distribution businesses. We are confident that we have found a great partner with the capital, expertise and experience to support the Company’s plans to grow organically and through acquisition.”

TM Asante Healthcare Partners, the healthcare investment banking practice of TM Capital Corp., served as financial advisor to CHS.

The CHS acquisition represents Cortec Fund V’s fourth platform investment.

About Canadian Hospital Specialties ULC

Founded in 1967, CHS is a leading manufacturer, marketer, and distributor of disposable medical products to the Canadian hospital market. For additional information, please visit www.chsltd.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market healthcare, consumer, and specialty products, service, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of 101 Mobility, LLC

May 2013

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market healthcare, consumer, and specialty products, service, and distribution businesses, has announced that on May 22, 2013 its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), has entered into an equity partnership with 101 Mobility, LLC (“101 Mobility” or the “Company”) and its affiliates. Terms of the transaction were not disclosed.

Based in Wilmington, North Carolina, 101 Mobility® is a leading nationwide sales, installation and service provider of mobility and accessibility solutions for both consumer and commercial applications. The Company’s core products include stair lifts, wheelchair ramps, vertical platform lifts, vehicle lifts for mobility devices, pool lifts, turning automotive seats, and residential elevators, among others. 101 Mobility operates over 30 locations, primarily through its franchise program, with a number of locations in development.

CEO Dave Pazgan, who will continue in his current position along with founders Keith Barnhardt and Luke Sampson, said, “After launching our franchise program in 2010, we have experienced a rapid rate of growth. Our partnership with Cortec ensures that we have the resources to properly support our franchisees as we expand throughout the country.”

Cortec has experience in the industry via its ownership of Harmar Mobility, LLC, a leading manufacturer of a versatile line of mobility and accessibility equipment, which they acquired in July of 2012.

“Since teaming up with Cortec last summer, they have proven to be a valuable partner to Harmar. I’m confident that 101 will meet their growth objectives even more quickly with the resources that Cortec will be able to provide. We look forward to the opportunity to expand our relationship as an important supplier to 101 as they continue to grow,” added Chad Williams, CEO of Harmar.

“Given aging demographics and the general desire to stay active late into life and remain in one’s home, we believe the end markets that 101 and Harmar serve are poised for long term growth. We are excited to be partners with both and continue to look for opportunities in the space,” added Jeffrey Lipsitz, a Managing Partner of Cortec.

About 101 Mobility, LLC

Founded in 2008, 101 Mobility is a leading distributor, installer and servicer of residential and commercial solutions for individuals who are mobility impaired and the businesses that serve them. For additional information please visit 101Mobility.com or 101MobilityFranchise.com.

About Harmar Mobility, LLC

Founded in 1998, Harmar is the leading designer, manufacturer, and marketer of mobility and accessibility solutions for individuals who are mobility impaired. For additional information, please visit www.harmar.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market healthcare, consumer, and specialty products, service, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of Barcodes, Inc.

November 2012

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market distribution, healthcare, consumer, and specialty products and service businesses, announced that on November 2, 2012 its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), acquired BarcodesInc (“Barcodes” or the “Company”) in partnership with management. Terms of the transaction were not disclosed.

Headquartered in Chicago, Illinois, Barcodes is a leading distributor of automatic identification capture (“AIDC”) products, selling primarily to small and medium-sized businesses and select Fortune 500 customers. The Company’s AIDC products, which include barcode scanners, mobile computers, label printers, point-of-sale systems, identification cards, RFID equipment, and other related consumable products, allow customers to improve productivity and profitability in their businesses. Barcodes maintains strong relationships with many of the premier manufacturers in the industry, and effectively couples a strong web-site presence with technical sales capabilities to serve its customers.

“Through its unique business model, online lead generation capabilities and value-added customer service, Barcodes is a leader in its market and continues to gain share versus the competition,” said Scott Schafler, a Managing Partner at Cortec. “The Company’s deep product knowledge and efficient operations have enabled it to build long-term relationships with a diverse group of customers, which has driven the Company’s success,” added Michael Najjar, a Cortec Partner.

“We are gratified that senior management chose to work with Cortec to realize their near and longer-term objectives,” added David Schnadig, also a Managing Partner at Cortec. “We are thrilled to be partnering with a great team and excited to help facilitate and execute multiple growth initiatives.”

Daniel Nettesheim, Barcodes’ CEO, who will continue in his current position and remain a shareholder, added, “We were impressed by Cortec’s approach, including their demonstrated commitment to growth. We are genuinely enthusiastic about this new partnership, both as senior managers of the Company and continuing owners in the business.”

The Barcodes acquisition represents Cortec Fund V’s third platform investment. Cortec Fund V had its final closing in 2011 with $620 million in total committed capital.

About BarcodesInc

Founded in 1994, Barcodes is the leading distributor of automatic identification capture (“AIDC”) products, selling primarily to small and medium-sized businesses. For additional information, please visit www.barcodesinc.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market distribution, healthcare, consumer, and specialty products and service businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Sale of Performance Health & Wellness Holding, Inc.

October 2012

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market healthcare, consumer and specialty products, service, and distribution businesses, is pleased to announce that its affiliate, Cortec Group Fund IV, L.P. (“Cortec Fund IV”), sold Performance Health & Wellness Holdings, Inc. (“Performance Health” or the “Company”) to an affiliate of Gridiron Capital (“Gridiron”), a private equity firm based in New Canaan, CT.

Performance Health is a leading designer, manufacturer, and marketer of branded, consumable products sold to therapy, rehabilitation, and wellness professionals under the well-known Thera-Band®, Bio-Freeze®, and Pedigenix® brand names and to retailers under the Perform® brand. The Company’s core products include resistance bands and tubing, topical analgesics, and foot care products, as well as a broad range of therapy and exercise products used by physical therapists, chiropractors, podiatrists, physical trainers, and massage therapists to promote strength and flexibility, and to provide pain relief for their patients. Performance Health is headquartered in Akron, OH and maintains manufacturing and sales operations globally. Additional information on Performance Health is available at www.performancehealth.com.

Cortec Fund IV acquired Performance Health in April 2007. Under Cortec’s ownership, the Company delivered strong performance and remains a leader in each of its core clinical end markets. In addition, Performance Health has successfully penetrated key retail markets, introduced several innovative new product lines, expanded internationally, and driven numerous operational improvements.

“The management team, led by Marshall Dahneke, who we brought in over four years ago, did a fantastic job building the business and executing on its growth strategy,” stated Jeffrey Lipsitz, a Managing Partner at Cortec. Mr. Lipsitz added, “During the course of our ownership, we were able to make significant investments in key management personnel and marketing resources, which have helped deliver consistent revenue growth across numerous markets and clearly positioned the Company for continued future growth. We wish Performance Health’s management team and Gridiron our very best.”

“We are extremely pleased with our investment in Performance Health,” stated David Schnadig, a Managing Partner at Cortec. “Following the sale of 180 Medical, which closed on September 28, 2012, Cortec Fund IV has already returned about 110% of called capital and we continue to own five other portfolio companies. We look forward to building on these successes to continue to generate attractive returns for our limited partners in Cortec Fund IV and V.”

Performance Health was co-advised on the transaction by Robert W. Baird & Co., Inc. and Piper Jaffray & Co., with Paul Hastings LLP serving as counsel.

About Cortec Group

Cortec acquires high value-added, middle market healthcare, consumer and specialty products, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Announces the Sale of 180 Medical Holdings, Inc.

September 2012

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market healthcare, manufacturing, distribution, and proprietary service businesses, is pleased to announce that on September 28, 2012 its affiliate, Cortec Group Fund IV, L.P. (“Cortec Fund IV”), sold 180 Medical Holdings, Inc. (“180 Medical” or the “Company”) to ConvaTec, Inc. (“ConvaTec”), a developer and marketer of innovative medical technologies.

180 Medical is a leading distributor of disposable, single-use (intermittent) urologic catheters to over 10,000 customers in the home setting. The Company carries a comprehensive inventory of over 500 types of urologic catheters and ships directly to patients to suit the individual needs of its diverse customer base, including those with spinal cord injuries, spina bifida, multiple sclerosis and other conditions causing incontinence. 180 Medical is headquartered in Oklahoma City, OK with an additional corporate office in South Easton, MA. Further information on 180 Medical is available at www.180medical.com.

Cortec Fund IV purchased 180 Medical in September 2009 from its founder Todd Brown and his partner, Brian Warner. Under Cortec’s ownership, 180 Medical delivered outstanding performance and is now a leader in the North American intermittent catheter market. The Company’s success was driven by significant organic growth and the successful acquisition and integration of a small, but highly strategic add-on acquisition.

“We could not be happier with our investment in 180 Medical,” stated Jeffrey A. Lipsitz, a Managing Partner at Cortec. “Todd Brown, Brian Warner and the rest of the management team did an excellent job executing the Company’s organic growth strategy and seamlessly integrating South Shore while continuing to provide outstanding service to its customers and their caregivers. It was truly a privilege to be associated with the 180 team for the last 3 years.” Todd Brown added, “Cortec proved to be the value added partner we were looking for. With Cortec’s help, we were able to grow the Company to the next level, investing appropriately in personnel, facilities and systems. We are excited to embark on the Company’s next phase of growth as a part of the ConvaTec family.”

180 Medical was co-advised on the transaction by Harris Williams & Co. and Cain Brothers & Company LLC with Blank Rome LLP and Arent Fox LLP serving as counsel.

About Cortec Group

Cortec acquires high value-added, middle-market healthcare, specialty manufacturing, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of Harmar Mobility, LLC.

July 2012

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market healthcare, consumer, and specialty products, service, and distribution businesses, announced that on July 20, 2012 its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), acquired Harmar Mobility, LLC (“Harmar” or the “Company”) in partnership with Harmar’s Founder and President, Chad Williams and members of his family. Terms of the transaction were not disclosed.

Based in Sarasota, Florida, Harmar is a leading designer, manufacturer, and marketer of mobility and accessibility solutions focused primarily on the vehicle and residential lift segments. The Company’s core products include vehicle lifts, stair lifts, vertical platform lifts, turning seats, residential elevators, ramps and bath lifts, among others. Harmar’s products are sold across multiple dealer-based distribution channels as well as through Veterans’ Administration hospitals under company-owned brands, such as Harmar®, Summit™, Pinnacle™, Alpine™, Freedom Seat™, and certain customer private labels.

“Through organic growth initiatives and selected acquisitions, Harmar has developed the industry’s most innovative, comprehensive, and high quality product set and paired it with unparalleled service. This combination has enabled the Company to become a value-added partner for a loyal customer base and been a key driver of the Company’s success” said Jeffrey A. Lipsitz, a Managing Partner at Cortec.

“As an industry leader in a growing market, we believe Harmar is well positioned to continue to gain market share across its distribution channels and to capitalize on the favorable demographic trends in its market,” added David L. Schnadig, also a Managing Partner at Cortec. “We look forward to working with Chad and the rest of the Harmar team to achieve their growth objectives.”

Chad Williams, who will continue in his current position and remain a material shareholder, explained, “We were looking for a partner with healthcare investing experience and were impressed with Cortec’s successful track record of growing medical products businesses. Our management team is confident that we have found the right partner to support the Company as we enter our next phase of development.”

The Harmar acquisition represents Cortec Fund V’s second platform investment, following its June investment in YETI® Coolers. Cortec Fund V had its final closing in 2011 with $620 million in total committed capital.

About Harmar Mobility, LLC

Founded in 1998, Harmar is a leading designer, manufacturer, and marketer of mobility and accessibility solutions for individuals who use power wheelchairs/scooters or are otherwise mobility impaired. For additional information, please visit www.harmar.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market healthcare, consumer, and specialty products, service, and distribution businesses from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $40 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of Yeti Coolers, LLC – Represents The First Platform Investment For Cortec Fund V

June 2012

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market consumer, healthcare, specialty manufacturing, service, and distribution businesses, announced that on June 15, 2012 its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), acquired YETI Coolers, LLC (“YETI” or the “Company”) in partnership with YETI’s founders, Roy and Ryan Seiders. Terms of the transaction were not disclosed.

Based in Austin, Texas, YETI is the leading designer and marketer of premium, rotationally molded ice chests and coolers sold under the YETI® brand name. The Company was founded in 2006, and virtually created the market for premium coolers by designing an extremely durable product with superior insulation properties for a variety of end markets and uses. YETI’s products are sold throughout the U.S. by a broad range of leading national, regional and local retailers.“Since inception, YETI has generated exceptional growth and profitability, driven by its consistently high quality, superior performance characteristics and authentic brand. The Company’s rapid growth, current momentum and future prospects are incredibly exciting. In particular, YETI anticipates introducing innovative, value-added new products which capitalize on management’s proven design capabilities, further penetrating existing customers and channels, and expanding to new markets,” stated David L. Schnadig, a Managing Partner at Cortec.

Roy Seiders, YETI’s co-Founder and CEO, who will continue with the Company in his current role and retain a meaningful ownership stake in YETI, added, “We were seeking a partner who could help foster YETI’s expansion while bringing experiences and resources (beyond just their capital) to support the Company as we face the opportunities and challenges that come with growth.” He further stated that “Cortec’s track record of successfully investing in entrepreneur-led high-growth businesses, as well its relevant knowledge of our sourcing and manufacturing processes was extremely important to me and my brother Ryan.” Ryan Seiders, YETI’s co-Founder and President, who will also continue in his current position and remain a material shareholder, added, “We are enthusiastic about this new partnership, both as senior managers of the Company and continuing owners in the business. We really like the Cortec guys and expect to learn a lot, work hard and have a lot of fun together.”

The YETI acquisition represents Cortec Fund V’s first platform investment. Cortec Fund V had its final closing in 2011 with $620 million in total committed capital.

About YETI Coolers, LLC

Founded in 2006, YETI is the leading designer and marketer of premium, rotationally molded coolers, accessories and related gear sold under the YETI® brand. The Company has experienced rapid growth and holds the #1 market position in the premium cooler category. YETI currently sells to a broad-based “enthusiast” customer group through a broad range of national, regional, and local retailers serving a variety of end markets, including specialty hunting and fishing, outdoor sporting goods, hardware, farm and ranch supply, and oilfield services, among others. The Company’s authentic outdoor lifestyle brand is revered by a passionate base of consumers who appreciate the unmatched performance and toughness of YETI’s rotationally molded premium coolers. For additional information, please visit www.yeticoolers.com.

About Cortec

Founded in 1984, Cortec acquires high value-added, middle-market consumer, healthcare, specialty manufacturing, service, and distribution businesses with leadership positions in their market niches from owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Acquisition of Cranial Technologies, Inc. – Represents The Final Platform Investment For Cortec Fund IV

December 2011

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market healthcare, specialty manufacturing, service, and distribution businesses, announced that on December 23, 2011 its affiliate, Cortec Group Fund IV, L.P. (“Cortec Fund IV”), in partnership with management, acquired a majority interest in Cranial Technologies, Inc. (“CranialTech” or the “Company”). Terms of the transaction were not disclosed.Based in Tempe, Arizona, CranialTech is a leading developer, manufacturer and provider of medical devices and services for the treatment of positional plagiocephaly (i.e., asymmetric head shape) in infants. The Company manufactures an FDA-cleared cranial remodeling device marketed under the DOC Band® brand name, and treats patients through a network of fourteen owned and four licensed treatment centers across the U.S. and Europe.

“Over its 20 year history, CranialTech has developed an industry-leading reputation among pediatricians, pediatric specialists and parents for its uncompromising commitment to quality and realizing positive clinical outcomes for each infant the Company treats. CranialTech’s leading market position is reflected in its strong brand name, which has allowed the Company to generate impressive historical growth and strong financial performance. We are excited to be partnering with CranialTech’s outstanding management team to accelerate the Company’s continued growth by expanding its sales and marketing efforts in existing markets and strategically entering new geographies”, stated Jeffrey A. Lipsitz, a Managing Partner at Cortec.

Jeanne Hertz, CranialTech’s Founder, who will continue to be involved with the Company, indicated she “chose Cortec because of their healthcare investing experience and strong-track record of helping founder-owned businesses achieve their next level of growth.” She further stated that “Cortec also shares CranialTech’s commitment to quality, service, and patient outcomes, which was extremely important to me and rest of the management team. The Company has a very bright future and we are excited to be partnering with Cortec.” Carol Erickson, CranialTech’s CEO, added, “We look forward to building on the growth our company has enjoyed over the last several years. Our entire management team is enthusiastic about the resources that Cortec brings to CranialTech to assist our expansion.”

The CranialTech acquisition represents Cortec Fund IV’s eighth platform investment and Cortec’s nineteenth healthcare investment since 2000. It also represents the final platform investment in Cortec Fund IV, a 2006 vintage fund with over $400 million in total committed capital.

About Cranial Technologies, Inc.

Founded in 1988, CranialTech is a leading developer, manufacturer and provider of medical devices and services for the treatment of positional plagiocephaly in infants. The Company’s mission is to provide a superior product, service, and the best possible outcome for every child with an abnormal head shape. Cranial is the only manufacturer of the DOC Band®, the first FDA-cleared device used for the treatment of positional plagiocephaly. The Company treats patients through a network of fourteen owned and four licensed treatment centers across the U.S. and Europe, and owns and operates a state-of-the-art manufacturing facility in Tempe, AZ where all of the Company’s bands are produced. CranialTech is the only band provider exclusively focused on treating positional plagiocephaly in infants and has invested in the development of a proprietary DSi® measurement system, which has significantly improved the overall patient experience, enhanced outcome documentation and streamlined the manufacturing process. The Company acquires new customers primarily from a diverse group of pediatricians and pediatric specialists that refer patients to CranialTech and consistently cite the Company as the highest quality plagiocephaly treatment provider in the industry. For additional information, please visit www.cranialtech.com.

About Cortec

Cortec acquires high value-added, middle-market healthcare, specialty manufacturing, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Sale of FFR Holding Corporation – Represents the Final Liquidity Event for Cortec Fund III

July 2011

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market healthcare, manufacturing, value-added distribution, and specialty service businesses, is pleased to announce that on July 11, 2011 its affiliate, Cortec Group Fund III, L.P. (“Cortec Fund III”), sold FFR Holding Corporation (“FFR-DSI” or the “Company”) to affiliates of Olympus Growth Fund V, L.P. (“Olympus”), a Stamford, CT based private equity investment firm. Terms of the transaction were not disclosed.

FFR-DSI, which was acquired by Cortec Fund III in May 2004, is the leading North American designer, marketer, and value-added supplier of merchandising, loss prevention, and operational efficiency solutions, primarily to retailers and consumer packaged goods companies. The Company sells the industry’s broadest range of merchandising systems and accessories including shelf management systems, shelf-edge label holders, sign holders, hang tags, hooks, fasteners, banner hangers, literature holders, and acrylic displays. FFR-DSI is headquartered in Twinsburg, OH with additional corporate offices in Cincinnati, OH and Shenzhen, China. Further information on FFR-DSI is available at www.ffr-dsi.com.

Under Cortec’s ownership, FFR-DSI delivered strong performance and is now the North American industry leader in its markets. The Company’s success was driven largely by: (i) a best-in-industry management team; (ii) outstanding customer service; (iii) innovative new product introductions; (iv) expansion into new markets; and (v) continuous operational improvements. In addition, the Company acquired Display Specialties, Inc. (“DSI”) in May 2008. As a result of this highly strategic add-on acquisition and its successful integration, FFR-DSI broadened its product offering and extended its presence with key supermarket and mass merchant retailers.

“We are extremely satisfied with our investment in FFR-DSI,” stated David Schnadig, a Managing Partner at Cortec. “The management team did a fantastic job building the business, despite a challenging retail environment. In addition, their flawless integration of the DSI acquisition helped drive meaningful value. The Company is clearly well-positioned for the future.”

Importantly, the sale of FFR-DSI represents the final liquidity event in Cortec Fund III, a 2000 vintage fund with over $330 million in total equity commitments. Mr. Schnadig further stated, “As a result of the successful outcome at FFR-DSI and the other portfolio companies, Cortec Fund III will have generated approximately a 3x gross cash-on-cash return and a 31% gross IRR for our investors. We believe Cortec’s success with Cortec Fund III is validation of our differentiated business model and the strength of our operating and transaction professionals. We look forward to building on our strong, long-term track record and continuing to generate attractive returns for our limited partners in Cortec Fund IV and V.”

FFR-DSI was advised on the transaction by Harris Williams & Co. and Jones Day LLP.

About Cortec Group

Cortec acquires high value-added, middle-market healthcare, specialty manufacturing, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Final Closing of Cortec Group Fund V, L.P.

March 2011

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which seeks control positions in middle-market healthcare, specialty manufacturing, distribution, and proprietary service businesses, is pleased to announce that on March 29, 2011 its affiliate, Cortec Group Fund V, L.P. (“Cortec Fund V”), held its final closing with $620 million of capital under management. Cortec Fund V hit its “hard cap” of $600 million in limited partner commitments, with the remaining $20 million coming from Cortec Fund V principals and their families.Cortec distributed private placement memos with a target of $500 million on the cover to a select group of prospective investors in late October 2010. While Cortec had held “pre-marketing” meetings with certain existing limited partners and select new investors prior to that date, discussions with most new investors commenced in December 2010. Cortec Fund V’s $205 million first closing was held on December 17, 2010 and its second closing, which brought aggregate limited partner commitments to $505 million, was on March 4, 2011.

“We are truly appreciative of the continued support we received from our blue-chip existing limited partners and excited about our relationships with a world-class group of new investors,” said David Schnadig, a Managing Partner at Cortec. “We had a strong record and a differentiated approach – I think the market recognized that, and as a result, the fundraise went as smoothly and quickly as we could have hoped,” added Managing Partner Jeffrey Lipsitz. R. Scott Schafler, also a Cortec Managing Partner stated, “Now that the money is raised, we’re excited to get back to doing what we do best – finding good companies that can benefit from our input and assistance.”

In addition to Messrs. Schafler, Lipsitz and Schnadig, the Cortec team includes Partners Michael Najjar, Jonathan Stein and Gene Nesbeda, Managing Director Jeffrey Shannon, Vice President Bill Tucker and Associate Allison Sacks.

Cortec did not engage a placement agent to assist in its fundraise. Ropes & Gray LLP served as counsel to Cortec Fund V, while Pillsbury Winthrop Shaw Pittman LLP represented Cortec for all management company documentation.

About Cortec

Cortec acquires high value-added, middle-market healthcare, specialty manufacturing, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $1 billion in its two active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Group Announces the Sale of RF Medical Holdings, INC.

February 2011

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market manufacturing, distribution, healthcare, and proprietary service businesses, is pleased to announce that on February 2, 2011 its affiliate, Cortec Group Fund III, L.P. (“Cortec Fund III”), sold RF Medical Holdings, Inc. (“NeuroTherm” or the “Company”) to Linsalata Capital Partners (“Linsalata”), a Mayfield Heights, OH based private equity investment firm. Terms of the transaction were not disclosed.

NeuroTherm, which was formed as a result of three concurrent acquisitions by Cortec Fund III in December 2005, is a leading developer, manufacturer and provider of products and services in the rapidly growing interventional pain management market. The Company offers a broad line of proprietary devices and consumable products including radiofrequency ablation generators, discography systems, cannulae, standard and specialty electrodes, grounding pads, epidural catheters, procedural tables and pharmaceutical compounding services to physicians trained in the field of interventional pain medicine. NeuroTherm is headquartered in Wilmington, Massachusetts with corporate offices in London, Amsterdam and Dusseldorf. Additional information about NeuroTherm can be found at www.neurotherm.com.Under Cortec’ s ownership, NeuroTherm delivered exceptional performance and is now a leader in the growing interventional pain space. Growth was largely driven by: (i) strong sales of the Company’s core products; (ii) the successful introduction of new products; (iii) the development and expansion of a direct sales force; (iv) further penetration into ancillary markets; and (v) the successful completion and integration of four add-on acquisitions.

“We are very pleased with the outcome of our investment in NeuroTherm,” added Jeffrey A. Lipsitz, a Managing Partner at Cortec. “The management team, led by Larry Hicks, who we brought in five years ago, did a tremendous job building the business organically as well as seamlessly integrating a number of add-on acquisitions during our ownership tenure. We wish NeuroTherm’s management team and Linsalata our very best.”

NeuroTherm was advised on the transaction by Robert W. Baird & Co. and Nixon Peabody LLP.

About Cortec Group

Cortec acquires high value-added, middle-market specialty manufacturing, service, healthcare and distribution businesses with leadership positions in their market niches. Cortec Fund IV has more than $410 million of committed capital to acquire platform companies with enterprise values of $30 million to $250 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

Cortec Seeks Specialty Surgical Add-Ons

January 2011

Cortec Group is seeking add-on acquisitions for its portfolio company, Katena Products, Inc.

Katena is a leading developer and manufacturer of high precision reusable and disposable ophthalmic surgical instruments. Suitable add-on candidates would include both ophthalmic surgical products, and non-ophthalmic precision instruments.

Please bring us your ideas – we promise a quick and thoughtful reply. If a seller hasn’t retained you, we’re happy to pay a buyside fee.

Ophthalmic Acquisition Criteria

Business Lines: Ophthalmic surgical products

  • Products used in the ophthalmic OR setting
  • Anterior and posterior ophthalmic segments
  • Reusable precision instruments (non-capital items)
  • Disposable/consumable products

Size: Business acquisition min revenues: $5 million; minimum 10% EBITDA Product line acquisition min revenues: $3 million; minimum 40% gross margin

Geography: Businesses based in the U.S., U.K., Germany, Brazil or Japan

Management: Either with or without ongoing senior management

Non-Ophthalmic Acquisition Criteria

Business Lines: Non-ophthalmic precision surgical instruments (non-capital items) used in surgical specialties such as: neuro, plastic, and ENT

Size: Minimum Revenues – $10 million; history of growth, Minimum EBITDA – $3.0 million

Geography:

Businesses headquartered in the U.S.

Management:

Preferably has ongoing senior management

Contact:

Jonathan Stein
Bill Tucker

[email protected]
[email protected]

212-916-0174
212-916-0169

Cortec Group Announces the Acquisition of Franklin Energy Services, LLC

October 2010

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market manufacturing, distribution, healthcare and proprietary services businesses, announced that on October 7, 2010 its affiliate, Cortec Group Fund IV, L.P. (“Cortec Fund IV”), in partnership with management, acquired a majority interest in Franklin Energy Services, LLC (“Franklin” or the “Company”). Terms of the transaction were not disclosed.

Franklin is one of the leading energy efficiency (“EE”) program management companies in the United States, with a significant presence in the Midwest. The Company designs and implements customized ratepayer-funded EE programs that enable electric and natural gas utilities to (i) comply with legislative and regulatory mandates to reduce energy consumption, (ii) avoid the cost of adding generating capacity by managing demand growth, and (iii) promote “green” environmental conservation measures. Founded in 1994, Franklin now has more than 200 employees operating out of 17 offices.

Scott Schafler, President of Cortec, stated “Franklin is a top performing company operating in an exciting, high-growth segment of the economy. We were attracted to Franklin because of its track record of consistently delivering superior client results. With demand for EE programs expected to grow into the future, Franklin is well positioned to help its clients comply with legislative and regulatory mandates to reduce energy consumption.” Jon Stein, a Senior Managing Director at Cortec, added “Franklin has a first-rate management team of veteran professionals, and we are excited to become their partners. As a result of this transaction, management was able to increase its ownership stake in the company alongside Cortec.” The Franklin acquisition represents Cortec Fund IV’s seventh platform investment.

Franklin’s founder and Chief Executive Officer, Paul Schueller, added “Our business will benefit from Cortec’s resources as we face the opportunities and challenges that come with growth. The Cortec team took the time to understand our business and delivered on all their promises. We look forward to building Franklin Energy with our existing management team and Cortec’s full support.”

About Franklin Energy Services, LLC

Since 1994 Franklin has designed and implemented large-scale EE programs for utilities and government agencies. These programs target end-users in the commercial, industrial, agricultural and multi-family residential markets to reduce their consumption of electricity and natural gas. Based in Port Washington, WI, Franklin has been named one of the top workplaces in Wisconsin. For more information about Franklin, please see: www.franklinenergy.com.

About Cortec Group

Cortec acquires high value-added, middle-market specialty manufacturing, service, healthcare and distribution businesses with leadership positions in their market niches. Cortec Fund IV has more than $410 million of committed capital to acquire platform companies with enterprise values of $30 million to $250 million and smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

NeuroTherm Acquires Smith Nephew Interventional Spine Pain Management Assets

April 2010

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in lower middle-market specialty manufacturing, distribution and proprietary service businesses, is pleased to announce that NeuroTherm, Inc. (“NeuroTherm”), a portfolio company of Cortec Group Fund III, L.P. (“Cortec Fund III”), has acquired the Interventional Spine Pain Management business of Smith & Nephew PLC (NYSE: SNN; LSE: SN). The acquired assets include several innovative interventional spine pain products, such as the CDS Discography System, SPINECATHTM and ACUTHERMTM Catheters and a broad line of radiofrequency products. NeuroTherm will also become a distributor of the TRUCATHTM Injection System within the interventional spine pain market.

“This acquisition made perfect sense for us and will go a long way towards sustaining NeuroTherm’s leading position in the interventional pain market” said Larry Hicks, President & CEO of NeuroTherm. “The Smith & Nephew product line is highly complementary to ours and significantly expands our offering. This is an exciting opportunity that will enable us to provide a “one-stop” option for our customers,” continued Hicks.

“We share the NeuroTherm management team’s enthusiasm about the acquisition,” added Jeffrey A. Lipsitz, a Partner at Cortec. “The acquisition adds scale to the business and will provide the company with a further differentiated offering. Over the past several years, the management team has done a fantastic job building NeuroTherm organically and through acquisition; this purchase solidifies NeuroTherm’s clear leadership position in its market.”

The acquisition of the Smith & Nephew Interventional Spine Pain Management assets represents the fourth add-on acquisition for Neurotherm and the twenty-third acquisition in the Cortec Fund III portfolio.

About NeuroTherm

NeuroTherm is a leading developer, manufacturer and provider of products and services in the rapidly growing interventional pain management market. The company offers a broad line of proprietary capital and consumable products including radiofrequency ablation generators, cannula, standard and specialty electrodes, grounding pads, epidural catheters, procedural tables and pharmaceutical compounding services to physicians trained in the field of interventional pain medicine. NeuroTherm is headquartered in Wilmington, Massachusetts with corporate offices in London and Amsterdam. Additional information about NeuroTherm can be found on at www.neurotherm.com.

About Smith & Nephew

Smith & Nephew is a global medical technology business, specialising in Orthopaedics, including Reconstruction, Trauma and Clinical Therapies; Endoscopy; and Advanced Wound Management. Smith & Nephew is a global leader in arthroscopy and advanced wound management and is one of the leading global orthopaedics companies. Smith & Nephew is dedicated to helping improve people’s lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust. The Company operates in 32 countries around the world. Annual sales in 2009 were $3.8 billion.

About Cortec

Cortec is a New York based private equity firm which acquires high value-added, lower middle-market specialty manufacturing, distribution and service businesses with leadership positions in their market niches. Cortec manages approximately $750 million of committed capital which it uses to acquire platform companies with enterprise values of $30 million to $300 million as well as smaller follow-on acquisitions. Additional information about Cortec can be found at www.cortecgroup.com.

NeuroTherm Completes Acquisition of Assets From Technomed Europe

February 2010

(New York, NY) — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market manufacturing, distribution and proprietary service businesses, announces that NeuroTherm, Inc. (“NeuroTherm”), a portfolio company of Cortec Group Fund III, L.P. (“Cortec Fund III”), has acquired certain assets from Technomed Europe (“Technomed Assets”). Terms of the transaction were not disclosed.

NeuroTherm, a leading developer and manufacturer of products used in the field of Interventional Pain, acquired the Technomed Assets from private owners on February 8, 2010. Based in the Netherlands, Technomed is a developer, manufacturer and supplier of neurodiagnostic accessories, including needles used in the practice of pain management. Under the terms of the acquisition, NeuroTherm acquired all intellectual property and manufacturing know-how associated with certain needle product lines made by Technomed.

“NeuroTherm’s management team has been focused on reducing costs, improving margin and controlling more aspects of the supply chain for some time. The Technomed deal represents another significant step towards achieving these goals,” according to Jeffrey A. Lipsitz, a Partner at Cortec.

The acquisition of the Technomed Assets represents the third add-on acquisition for Neurotherm and the twenty-second acquisition in the Cortec Fund III portfolio.

About NeuroTherm

NeuroTherm, Inc. is a leading developer, manufacturer and provider of products and services in the rapidly growing interventional pain management market. The Company offers a broad line of proprietary capital and consumable products including radiofrequency ablation generators, cannula, standard and specialty electrodes, grounding pads, epidural catheters, procedural tables and pharmaceutical compounding services to physicians trained in the field of interventional pain medicine. Further information on NeuroTherm is available at www.neurotherm.com.

About Cortec

Cortec acquires high value-added, middle-market manufacturing, distribution and service businesses with leadership positions in their market niches. Cortec manages approximately $750 million of committed capital which it uses to acquire platform companies with enterprise values of $30 million to $300 million as well as smaller follow-on acquisitions. Additional information about Cortec can be found on the Internet at www.cortecgroup.com.

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