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Portfolio - Past Portfolio Companies

Redman Industries

In 1988, Wingate acquired Redman Industries, a public company that was unprofitable and had revenues of $260 million. By 1993, Redman had re-emerged as a profitable public company, debt-free, and with revenues well in excess of $500 million. The Company was the third largest producer of manufactured housing in the United States when it was acquired in 1996 by Champion Enterprises, the number two competitor in the industry.

Redman Building Products

In 1988, Wingate acquired Redman Building Products ("RBP"), which was unprofitable and had revenues of approximately $85 million. Under Wingate's ownership, the Company completed five acquisitions, started two new plants, successfully entered the vinyl window market, and became solidly profitable. When the Company was sold in 1997, RBP had become one of the largest manufacturers of aluminum and vinyl windows in the United States with approximately $190 million in revenues.

Century Products Company

In 1988, Wingate acquired Century Products, a juvenile products manufacturer, that was an unprofitable subsidiary of Gerber Products Company. Initially, Century rationalized its product lines to improve operating efficiencies and enhance customer service levels and then made significant investments in new product development. Additionally, Century opened a manufacturing location in Mexico and repositioned its retailer strategy. When Century was sold to Rubbermaid and Cosco in 1998, the Company's revenues had grown to over $150 million and Century had developed market leading products in all car seat categories.

Loomis, Fargo & Co.

In 1991, Wingate acquired Loomis Armored from Australian-based Mayne Nickless Ltd. At that time, Loomis was the third largest service provider in the industry with revenues in excess of $100 million and had been unprofitable for the three preceding years. In 1997, Loomis completed the acquisition of Wells Fargo Armored, the second largest service provider in the industry, to form Loomis, Fargo & Co. When the Company was sold to Securitas in 2001, it had become the second largest provider of armored car services in the United States with revenues of approximately $400 million.

United Stationers

In 1992, Wingate, along with management, acquired Associated Stationers (a profitable group of wholesale office products distribution centers with revenues of $410 million) from Boise Cascade. Associated subsequently completed the acquisition of a regional wholesaler and the acquisition of United Stationers in 1995. Additional acquisitions into the combined public entity named United Stationers included LaGasse Brothers, a wholesaler of janitorial and sanitation supplies, and Azerty, a wholesaler of computer consumables. United Stationers became the largest wholesaler of products for the office in the United States with over $4 billion in annual revenues. Wingate distributed its remaining shares of United Stationers common stock to its Limited Partners in early 2000.

AmeriStat

In 1994, Wingate, together with the former chief executive officer of a major hospital chain, formed AmeriStat Mobile Medical Services to acquire scheduled patient transport ambulance companies. AmeriStat acquired ten companies and established several regional hubs, achieving the leading market share position in Texas; in 1995, the Company was sold to Laidlaw, the largest provider of ambulance services in the United States.

ITCO Tire Company

In 1995, Wingate, along with management, acquired ITCO Tire Company, the nation's largest independent tire distributor with revenues of approximately $300 million. ITCO serviced primarily the independent tire dealer with major and private brand tires, custom wheels, and tire dealer supplies. During the first two years, ITCO substantially improved its operations and acquired three tire distributors in existing and adjacent markets, thereby expanding the Company's annual revenue base to approximately $400 million. In 1998, ITCO merged with The Heafner Group and simultaneously acquired the largest tire wholesaler on the West Coast, whereby Wingate received significant cash proceeds and became the second largest shareholder of the combined company with revenues in excess of $1 billion. In 1999, Wingate participated in the sale of Heafner to a Boston-based private equity group and sold its remaining interest in the Company.

Varsity Brands

In 1997, Wingate acauired National Spirit Group, one of the nation's largest companies in the student sports and team spirit business. NSG manufactures uniforms and other products and delivers services, including training camps and competitions, primarily directed to cheerleaders, dance teams, and marching units. In 2004, NSG merged with Varsity Brands, Inc., and Wingate maintained a significant equity interest.

Pro Parts Xpress

In 1999, Wingate created Pro Parts Xpress through the acquisition of three founding companies. Pro Parts ultimately acquired ten businesses and developed significant market presence in several geographic markets. With annual revenue approaching $90 million, Pro Parts was the largest two-step distributor of domestic automotive parts selling exclusively to professional installers. Pro Parts' operating units were sold to industry consolidators O'Reilly Automotive and CARQUEST Auto Parts in 2002 and 2003.

Kevco

In 1999, Wingate led an investment in Kevco, a Fort Worth based public company. With over $800 million in revenues, Kevco was the largest distributor and manufacturer of building products sold to the manufactured housing and RV industries. Significant operating improvements were achieved at Kevco including the integration of four systems into one common platform, consolidation of facilities, and reduction of working capital by over $70 million. Kevco's individual operating units were sold in 2001.

AmerCable

In 2002, Wingate partnered with management to acquire AmerCable from its parent, Associated Materials. AmerCable is the leading manufacturer of electrical power cables used in severe operating environments such as offshore drilling platforms and mines as well as specialized applications for automotive robotics and telecommunications. Under Wingate ownership AmerCable grew revenues by 35% and doubled EBITDA. AmerCable was sold to Industrial Growth Partners in 2005.

ENSR

In 2000, Wingate led a management buyout of ENSR International from its German parent RWE Umwelt. ENSR is a leading environmental consulting firm focused on the corporate market. ENSR provides comprehensive services to meet the environmental needs of corporate clients in areas such as capital permitting, risk assessment, due diligence, air quality, hazardous waste, and process engineering. ENSR was sold to AECOM in 2005.

Corrpro Companies, Inc.

In 2004, Wingate recapitalized Corrpro Companies, Inc. Corrpro is the leading provider of corrosion control services and products to energy, water, and infrastructure markets in the U.S., Canada, and the UK. During Wingate’s five year investment, Corrpro increased revenues and profitability by over 40%. Corrpro was sold to Insituform Technologies in 2009.

Indusrial Container Services

In 2005, Wingate acquired Industrial Container Services. ICS is the leading provider of reconditioned steel drums in the U.S. ICS provides comprehensive container services to customers in a broad array of industries, including food, paint and chemical.