Capstone Partners Investment Banking Advisors

Juvenile Products Buyer Snapshots

“Market Intelligence for Industry Players” Q3 2012

CORPORATE AND PRIVATE EQUITY BUYERS ACTIVE

The Juvenile Products industry has been enjoying a healthy level of M&A activity, with acquirers seeking to build product offerings, capture market share and secure new brands via acquisitions. While both corporate and private equity buyers are active in the space, CAPSTONE PARTNERS LLC 176 Federal Street we note the plethora of private equity groups that are targeting consumer products 3rd Floor companies, including those focusing on juvenile products. Boston, MA 02110

Private equity buyers have had a long-time attraction to the sector, primarily due to the www.capstonellc.com product innovations of smaller companies and the draw of orphan brands. Smaller companies in the juvenile products industry are known to invent entirely new product categories or to build a better mousetrap in an existing class. Such companies are ideal

targets for private equity sponsors with the financial resources and operational JUVENILE PRODUCTS TEAM wherewithal needed to build a sizable company in the category. These private equity sponsors often look to combine several orphan brands into one powerhouse entity that John Ferrara can later be taken public or sold to a large corporate buyer. As a result, they are typically President, Managing Partner looking for acquisitions that can serve as either an initial platform investment or as a (617) 619-3325 [email protected] complementary add-on to an existing holding.

Private equity firms are actively seeking sound investments in the sector with the belief Jacob Voorhees that it will benefit from a strengthening economy as well as the stable growth, high Director, Principal (617) 619-3323 margins and strong brand equity in this sector. On the other hand, juvenile products [email protected] companies are welcoming private equity for a number of reasons, including their commitment to growing brands to their full potential; interest in keeping existing

management in charge; and their capital, management expertise and strategic guidance Sophea Chau Vice President to support a firm's growth. (617) 619-3307 [email protected] Capstone expects that the sector will continue to attract strong interest from buyers

based on compelling industry fundamentals including a growing birthrate, perceptions of

necessity among consumers for various juvenile products and a strengthening economy that is contributing to demand. In addition, there are several macro-economic factors in place which should continue to spur activity. These include an abundance of cash in the hands of corporate buyers, a tremendous amount of un-deployed private equity capital (estimated at approximately $430 billion, according to PitchBook Data, Inc.), the strong reappearance of commercial lenders buoyed by low interest rates and an improving economy, all of which should continue to drive M&A activity.

Capstone maintains an active dialog with both corporate and private equity buyers in the industry and keeps a detailed database of active acquirers, including those profiled on the following pages. Our deep experience and robust activity in this sector allows for immediate access to key decision makers among the industry’s most active acquirers and investors.

Q3 2012 Juvenile Products

SAMPLE ACQUIRER PROFILE: WESTON PRESIDIO

Weston Presidio has been a leading provider of growth capital for the past twenty years, investing in lower middle market growth companies with proven management teams. Their industry focus targets the consumer, industrial growth and business services sectors, where they have historically leveraged past experience and industry expertise in order to realize significant returns on their investments through growth and operating improvements. For Weston Presidio, the strength of the management team is a key deciding factor in their investment decision; they seek strong teams that have demonstrated the skills and dedication required to run a successful business, viewing these capabilities as an indication of what future growth can be attained post-transaction.

In February 2007, Weston Presidio acquired Evenflo Company, Inc., a manufacturer of baby care and juvenile products. The transaction was valued at $260 million. Evenflo, founded in Ohio in 1920, has marketing and sales operations in the United States, Canada, Mexico and the Philippines. Weston Presidio, impressed by Evenflo’s historical success and management expertise, considered the company a great fit per its investment criteria. As a company with over 85 years of success in the juvenile products market, Evenflo had built a strong customer base and established an excellent brand image, one that was associated with a line of products ranging from car seats to high chairs, diaper bags to doorway jumpers. The wide array of products was another appealing attribute for Weston Presidio, recognizing the potential for growth associated with expanding the company’s geographic footprint.

In January 2008, Weston Presidio and Evenflo expanded their presence in the juvenile products space by acquiring Ameda AG from Hollister Incorporated. Ameda AG, a Swiss company founded in 1962, designs and produces breast pumps and products. Evenflo was attracted to Ameda’s well-established brand, stating that “Evenflo will retain the Ameda brand name, which is widely respected within the breastfeeding community and amongst lactation experts.” The appeal of product expansion was also a driving factor in the transaction, with Rob Matteucci, CEO of Evenflo noting, “The addition of Ameda to our family of products further expands our ability to provide moms the widest range of options to enhance their breastfeeding experience.”

In January 2012, Weston Presidio announced it will divest Evenflo México, S.A. De C.V. and Evenflo’s Global Feeding Assets, excluding Ameda to Kimberly-Clark de México. In addition to Ameda, Evenflo will retain its leading juvenile travel and home safety businesses.

Weston Presidio is no stranger to the juvenile products space, with past investments and current holdings laying testament to their vested interest in a space with growth potential through product expansion, strategic add-on acquisitions, management improvements and operational advances.

2 Q3 2012 Juvenile Products

SAMPLE ACQUIRER PROFILE: COMPASS DIVERSIFIED HOLDINGS

Compass Diversified Holdings (CODI) is a premier investor in profitable small to middle market businesses in attractive niche industries. Founded in 2005, Compass Diversified Holdings focuses on acquiring companies with strong management teams and significant market share in a defensible industry. They seek businesses with tangible growth opportunities that can be achieved through a combination of strategic support and increased cash flow in the intermediate to long term.

CODI acquired The ERGO Baby Carrier, Inc. in September 2010 for $91 million. ERGObaby designs, markets and distributes baby carriers and related products and accessories for newborns and toddlers worldwide. According to Jon Massoud, CEO of CODI, “ERGObaby is an exciting company for us due to its attractive industry positioning, loyal customer base, stability of core product demand and potential for growth through channel and geographic expansion.” Along with acknowledging ERGObaby’s strong brand recognition, Mr. Massoud also cited favorable market trends such as rising birth rates and increasing affluence in non-western markets as additional incentives behind completing the transaction.

ERGObaby was a good fit with CODI’s investment criteria. As a company reporting over $22 million in revenue at the time of the transaction, ERGObaby presented an appealing platform for continued growth founded upon an already well-established business model and sustainable revenue stream. At the same time, the company was still small enough that it could greatly benefit from additional capital in order to take advantage of growth opportunities and expand its geographic footprint. Apart from its financial compatibility, CODI was also attracted to ERGObaby’s solid and proven management team: “We look forward to working closely with Karin Frost, an industry pioneer, and the rest of ERGObaby’s management team to continue their historically strong growth.”

Since its investment in ERGObaby in 2010, Compass Diversified Holdings has continued to expand the platform as a nationally and internationally acclaimed provider of juvenile products. In November 2011, ERGObaby acquired Orbit Baby in an accretive add-on acquisition valued at $17.5 million. The acquisition expanded CODI’s global presence in the baby durables market. Orbit Baby, a California based company founded in 2004, produces and markets a premium line of stroller travel systems. Orbit Baby has also established an excellent reputation and fostered a high level of brand recognition as a leading provider of innovative and ergonomic products ranging from car seats to bassinets. The acquisition further solidified CODI’s presence in the juvenile products space, and is indicative of its strategic dedication to well-established companies with proven customer bases and recognizable and well-known brands.

3 Q3 2012 Juvenile Products

SAMPLE ACQUIRER PROFILE: NORDIC CAPITAL

Nordic Capital invests in all industries and sectors, focusing on large to medium sized buy-outs of companies with room for new industrial combinations, strategic repositioning, international expansion and operational improvements. Nordic’s evaluation process places great weight on the competitive position of a company within its given industry, as well as Nordic’s ability to bring value and the future potential for operational improvements. Nordic Capital’s system of thorough evaluation ensures what they call “a clear view of the potential of a target company, its growth and development opportunities.”

Nordic Capital is currently investing Fund VII which reached its hard cap of EUR 4,300m in committed capital in November 2008. Nordic’s investments span a multitude of industries, with one common thread being the ability to adopt existing business concepts to emerging market environments, leveraging the emerging market growth in order to realize long-term gains through the investment strategies listed above.

In November 2010, Nordic Capital acquired Britax Childcare Holdings Ltd., a company within the juvenile products space that designs, tests, assembles and markets a range of premium child car safety seats and wheeled goods. The transaction was valued at $720 million. Hans Eckerstrom, head of Nordic Capital’s consumer goods investments, spoke in regards to the acquisition, saying “It is a company with strong consumer brands, a solid local presence in all its key markets…and a well-consolidated management approach in the branded consumer goods market that is totally in line with Nordic Capital’s investment philosophy.” By acquiring a company in an emerging market with excellent brands complimented by a talented management team, Nordic Capital was adhering to its investment criteria and aligning itself with a sturdy company that offered significant growth potential.

In May 2011, Nordic’s portfolio company, Thule AB, acquired the assets of Chariot Carriers Inc., a Canada-based manufacturer of child carrier products. The acquisition added a strong brand and new product line to Thule’s existing portfolio of products for smart and safe transportation.

In October 2011, the Capstone team advised BOB Trailers, Inc. on its acquisition by Britax Childcare Holdings. Founded in 1994 as a manufacturer of bicycle trailers, BOB Trailers has since become America’s leading provider of high quality jogging strollers. Britax was enticed by BOB’s innovative products, commitment to customers and well-known brand. Karl Kahofer, CEO of Britax Child Safety, commented on BOB’s compatibility with Britax’s international growth strategy, saying that the Britax team was excited to expand the product range globally, with BOB’s strong brand name still attached.

4 Q3 2012 Juvenile Products

SELECTED JUVENILE PRODUCTS M&A TRANSACTIONS

Transaction EV / LTM Date Target Acquirer Target Business Description Value (mm) Revenue EBITDA Provides access to the largest collection of curated, kid- 10/1/12 Zui.com Saban Brands, LLC CF CF CF friendly online content. Cottonseed Clothing 8/28/12 Wittlebee Offers t-shirts and basic apparel for infants and toddlers. - - - Company, LLC JAKKS Pacific, Inc. Manufactures and distributes spring and summer activity 7/26/12 Maui Toys, Inc. $65.0 - - (NasdaqGS:JAKK) toys sold through toy, baby and online retailers. Bear River Mach Speed 7/06/12 Manufactures children's toys. - - - International, LLC Technologies, Inc. Molehill Mountain Manufactures and sells outdoor clothing for infants, toddlers 6/29/12 Plangea Inc. - - - Equipment Inc. and juniors. Alexander Doll Kahn Lucas Manufactures handcrafted dolls for use by children age infant 6/25/12 - - - Company, Inc. Lancaster, Inc. and older. The Baby Jogger The Riverside Designs and manufactures joggers and all-terrain three-wheel 4/20/12 - - - Company Company strollers. Central Specialties Manufactures high chairs, youth seating toddler grocery carts 2/01/12 Smarte Carte, Inc. - - - Ltd., Strollers and other children’s items. Burlington Basket Designs, manufactures, imports and sells bassinets and other 1/16/12 LaMont Limited - - - Company baby goods. Manufactures baby apparel including newborn and infant 1/06/12 Robar, Inc. Cutie Pie Baby, Inc. - - - layette and playwear. GIA Investments Manufactures juvenile products including strollers, joggers, 12/25/11 Baby Trend, Inc. $45.0 - - Corp. walkers, highchairs and car seats. L.A.T Ridge Capital Offers infant and toddler imprinted sportswear such as tees 12/22/11 - - - Sportswear, Inc. Partners, L.L.C. and fleece, long sleeves and zipper hoodies. The ERGO Baby Offers a stroller travel system, bassinet cradle, infant and 11/21/11 Orbit Baby, Inc. $17.5 - - Carrier, Inc. toddler car seats and accessories. Inquisitive Provides an online platform for education and learning for 10/31/11 HTC America Inc. $12.9 - - Minds, Inc. young children. Britax Childcare Engages in the design, manufacture and sale of strollers, 10/20/11 BOB Trailers, Inc. CF CF CF Holdings Ltd. trailers and accessories for babies. Produces educational toys including puzzles, push and pull 9/19/11 ImagiPlay, Inc. BeginAgain, Inc. - - - toys, global games, building blocks and puzzle craft kits. Boon, Inc. and Keen Tomy Manufactures and distributes baby and children’s furniture 8/10/11 $20.7 - - Distribution International Inc. and products for bathing, eating and playing. Excelligence Sterling Investment Manufactures children’s furniture and activity-based 8/01/11 - - - Learning Corp. Partners educational products. Produces child carrier products, including rolling strollers, 5/31/11 Chariot Carriers Inc. Thule AB - - - bicycle trailers, hiking trailers and side carriers. Watergeeks Labs ReliaBrand, Inc. 4/06/11 Manufactures baby bottles. - - - Inc, Adiri Assets (OTCBB:RLIA) BornFree Summer Infant Manufactures baby feeding bottles, training cups, pacifiers 3/28/11 $24.6 1.6x - Holdings Ltd. (USA), Inc. and teethers and other baby accessories. Designs, produces and markets toys, collectibles and infant 3/10/11 RC2 Corporation Tomy Corporation $625.4 1.5x 11.1x and toddler products. SaraBear Produces diaper caddies for at-your-finger-tips accessibility to 2/04/11 Munchkin, Inc. - - - Company LLC baby care essentials. Britax Childcare 11/21/10 Nordic Capital Designs, manufactures and markets child safety car seats. $720.1 2.2x - Holdings Ltd. 9/16/10 The ERGO Baby Compass Diversified Manufactures baby carriers and related products for Carrier, Inc. Holdings newborns and toddlers worldwide. $91.0 - 7.0x

Mean 1.7x 8.5x Median 1.6x 7.3x

LTM = last twelve months; EV = enterprise value; CF = Confidential Harmonic Mean 1.7x 8.1x Transaction highlighted in blue was completed by Capstone Partners Sources: Capstone Partners LLC research; Capital IQ; public filings and press releases

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PUBLIC COMPANY TRADING & OPERATING DATA

Price Market Enterprise LTM EV / LTM Company 9/25/12 Cap Value Revenue EBITDA Margin Revenue EBITDA Crown Crafts, Inc. $6.26 $ 61.0 $ 57.5 $ 85.3 $ 10.3 12.1% 0.7x 5.6x Dorel Industries Inc. $34.31 1,077.9 1,401.1 2,392.2 171.3 7.2% 0.6x 8.2x Hasbro Inc. $37.53 4,887.5 5,707.9 4,165.5 735.5 17.7% 1.4x 7.8x Kid Brands, Inc. $1.45 31.7 78.3 243.2 5.2 2.1% 0.3x 15.1x LeapFrog Enterprises Inc. $8.54 573.7 446.8 504.5 55.8 11.1% 0.9x 8.0x Mattel, Inc. $35.57 12,126.8 13,346.8 6,239.7 1,252.3 20.1% 2.1x 10.7x MEGA Brands Inc. $9.77 159.9 311.7 394.5 44.0 11.2% 0.8x 7.1x Newell Rubbermaid Inc. $19.08 5,510.3 7,636.1 5,893.7 903.5 15.3% 1.3x 8.5x Summer Infant, Inc. $1.88 33.9 105.8 243.4 15.0 6.2% 0.4x 7.1x

Mean 11.4% 0.9x 8.7x Median 11.2% 0.8x 8.0x Margin Performance Harmonic Mean 7.5% 0.7x 8.1x 60.0% 51.0% 48.8% 50.0% 42.4% 37.0% 37.8% 40.0% 34.2%

30.0% 23.7% 22.5% 24.3% 20.1% 17.7% 20.0% 13.7% 15.3% 12.1% 11.1% 11.2% 10.0% 7.2% 6.2% 2.1% 1.8% 0.0% Crown Dorel Hasbro Inc. Kid Brands, LeapFrog Mattel, Inc. MEGA Mothercare Newell Summer Crafts, Inc. Industries Inc. Enterprises Brands Inc. plc Rubbermaid Infant, Inc. Inc. Inc. Inc.

Gross Margin % EBITDA Margin

Last Twelve Months Revenue Growth 19.6% 20.0%

15.0% 10.5% 10.0% 5.2% 5.0% 2.4% 2.8% 2.4% 2.9%

0.0% -0.2% -5.0% -5.6% -10.0% -8.8% -15.0% Crown Dorel Hasbro Inc. Kid Brands, LeapFrog Mattel, Inc. MEGA Mothercare Newell Summer Crafts, Inc. Industries Inc. Enterprises Brands Inc. plc Rubbermaid Infant, Inc. Inc. Inc. Inc.

Source: Capital IQ as of September 25, 2012

6 Q3 2012 Juvenile Products

CAPSTONE PARTNERS: COMPLETED CONSUMER PRODUCTS & SERVICES TRANSACTIONS

Capstone Partners has completed several transactions within the consumer products & services space. These transactions span the major categories of manufacturing, retail, wholesale and services. They include a wide range of companies offering a diversity of products such as those related to food, pet, juvenile, drug and neutraceutical, and recreation products and services. Capstone’s experience in the consumer products & services sector provides us with insight into the valuable attributes and likely valuation of a target company, the active buyers in the industry and the nuances of transactions in this space.

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7 Q3 2012 Juvenile Products

CAPSTONE PARTNERS ADVISES ZUI ON ITS SALE TO SABAN BRANDS

San Diego, CA - September 27, 2012 - Capstone Partners LLC, a leading national DONE DEAL investment banking firm, announced today that it advised Zui.com on its sale to Saban Brands LLC. The acquisition of Zui, which provides access to the largest collection of curated, kid-friendly online content, strengthens Saban Brands’ position as a leading digital innovator for kids’ entertainment, and continues to grow the company’s digital capabilities. The addition of Zui will add 12 employees to the organization as well as a new physical presence in San Diego, has been acquired by where Zui is headquartered.

“We are looking forward to working with the talented team at Zui,” said Elie Dekel, President of Saban Brands. “This is a very exciting acquisition that allows  The undersigned represented us to further develop our online offering and deepens our position as a premier ZUI.COM, INC. provider of kids’ entertainment across all media." Capstone Partners Investment Banking Advisors Zui’s flagship site, Zui.com, allows children to access a large library of videos and online games. Zui.com also features a safe, social media experience for kids where they can develop a personal profile page with their own avatar, “like,” “vote” and “favorite” content, access games and add friends with no open messaging. Zui also operates KidZui, a downloadable browser providing access to a kid-safe Internet experience and more than six million websites, online videos, pictures and games.

Content available through both Zui and KidZui is reviewed and approved by an advisory board of parents and teachers, and added to the company’s proprietary white list. The Zui editorial staff also reviews and adds access to new content each month to keep it fresh and engaging for kids. Zui.com and KidZui offer highly engaging online experiences for kids – combined they have generated as many as 2.3 million visitors per month, with the average visitor coming back three times per week and spending nearly 30 minutes per session.

“Zui not only adds capabilities to the Saban Brands portfolio, but also provides unbelievable talent and capabilities in the areas of engineering, product development and digital entertainment,” said Cliff Boro, Co-Founder and CEO of Zui. “As part of the Saban Brands family, Zui will provide resources that allow kids to leverage the power of the Internet in new and exciting ways, while maintaining a safe environment."

Zui’s approach has proven successful – its sites have attracted leading advertisers in the category, and accolades from National Parenting Publications Awards (NAPPA), the Parents Choice Awards, Children's Technology Review and CNET, as well as certifications from the KidSAFE Seal Program and WiredSafety.

“The addition of Zui further establishes Saban Brands as a leader in online entertainment for kids,” said Dan Silberberger, Vice President of Digital at Saban Brands. “The features and functionality that Zui brings will complement Saban Brands' recent launch of MyVortexx.com, a boys-focused entertainment destination site that supports Vortexx on The CW Saturday mornings."

8 Q3 2012 Juvenile Products

CAPSTONE PARTNERS ADVISES BOB TRAILERS ON SALE TO BRITAX GROUP

Chertsey, U.K. - November 14, 2011 - Capstone Partners LLC, a leading national DONE DEAL investment banking firm, announced that it has successfully advised BOB Trailers, Inc. on its acquisition by Britax Group Limited, a portfolio company of Nordic Capital Fund VII. The transaction marks the international unification of two of the top brands in the juvenile products category. The terms of this transaction were not disclosed.

has been acquired by Headquartered in the UK with major facilities in the UK, Germany, Australia and the U.S., Britax is the world’s premier brand for children car safety seats and a portfolio company of strollers. Britax successfully expanded into the stroller market by launching its B- range of strollers in recent years (B-Ready, B-Smart, B-Mobile and B-Scene). The  The undersigned represented company complemented its stroller offering earlier this year when it introduced BOB TRAILERS, INC. its innovative, quick-folding B-Agile stroller. Britax car seats and strollers are sold Capstone Partners globally in all major retailers and specialty stores. Additional information about Investment Banking Advisors Britax can be found at www.britax.com.

BOB, which began in 1994 as a manufacturer of bicycle trailers, is widely considered America’s premier provider of innovative, design oriented high quality “sport utility” or jogging strollers. BOB’s line of successful products include the BOB Revolution SE and CE as well as BOB Ironman®, BOB Sport Utility Stroller and the BOB Stroller Strides®*Fitness Stroller. Based in Boise, Idaho, the company now makes a full line of multi-functional strollers and accessories that is sold at retailers and specialty stores across the U.S. and Canada. Additional information about BOB Trailers can be found at www.bobgear.com.

Karl Kahofer, CEO of Britax Child Safety, commented, “We’ve admired for some time BOB’s ingenuity and commitment to customers and are convinced that its products, customer service, and business ethics make it a natural fit for Britax. This purchase reinforces Britax’s global leadership in child safety and mobility, and is fully in line with our international growth strategy. We have no plans to change the BOB name; in fact we are excited to expand the BOB product range globally.”

BOB cofounder and CEO, Roger Malinowski, is equally enthusiastic about the acquisition. “When we started this company more than fifteen years ago,” he said, “we simply wanted to design and manufacture the world’s best single- wheel bike trailers, and later, the world’s best strollers for active, sports-minded parents. When you look at the thoughtful engineering behind the Britax stroller line and the revolutionary design behind its car seats, you can see why our two companies will fit well together.”

The Capstone M&A team of John Ferrara, Managing Partner, Jacob Voorhees, Director, and Sophea Chau, Associate (based in Boston, MA), managed the transaction on behalf of BOB. “Our consumer products group was very proud to represent BOB Trailers in this landmark cross-border transaction. We believe the legacy that Roger Malinowski has built in the BOB brand will be expanded globally through Britax’s broad international distribution channels.”

9 Q3 2012 Juvenile Products

THE JUVENILE PRODUCTS TEAM

John Ferrara, President and Managing Partner [email protected] • (617) 619-3325

John Ferrara, the founder and principal shareholder of Capstone, serves as the firm's President and Managing Partner. Over his extensive career in investment banking, venture capital and management consulting, John has executed over 100 related engagements representing in excess of $6 billion in value. John was formerly a Regional Managing Partner with Andersen Corporate Finance, where he founded the Boston office and held various national and global leadership positions. He started his career in Lehman's Brothers' M&A group in New York, London and Riyadh, later becoming a founding member of Rodman & Renshaw's M&A practice in New York. He earned an MBA in Entrepreneurial Studies from The Anderson School at UCLA and the London School of Economics, during which time he founded and operated a corporate finance advisory boutique, JG Atlas Advisors, and its related investment arm, Atlantis Capital Partners. He holds dual BA degrees from Wesleyan University and is qualified as a General Securities Principal.

Jacob Voorhees, Director and Principal [email protected] • (617) 619-3323

Jacob is a founding member of Capstone Partners and focuses on asset positioning, strategy articulation, due diligence and negotiations coordination. Formerly, Jacob was with Andersen Corporate Finance LLC, where he focused his efforts on the software and direct marketing industries. He started his career in New York City with Rabobank International, a multi-national Dutch investment bank headquartered in Utrecht, the Netherlands. While at Rabobank International, Jacob worked in the mergers and acquisitions group focusing on cross-border transactions in the consumer products, food and beverage industries. Jacob holds dual BS degrees from Cornell University and is qualified as a General Securities Representative.

Sophea Chau, Vice President [email protected] • (617) 619-3307

Sophea joined Capstone in 2008 and specializes in mergers & acquisitions, private placements and financial advisory services. Her responsibilities include providing financial and valuation analysis, performing due diligence and drafting all marketing materials. Prior to joining Capstone, Sophea was an analyst at FTN Midwest Securities, a full-service investment banking firm based in Cleveland. While working in their New York office, she focused on M&A advisory for middle-market companies in a variety of industries, including healthcare, pharmaceutical services and marketing & advertising. Sophea is on the Board of the Columbia University Club of New England and is the Chairperson of the Boston Columbia College Young Alumni group. Sophea holds a Bachelor of Arts in Economics from Columbia University.

10 ABOUT CAPSTONE PARTNERS

Capstone Partners LLC is a leading national investment banking firm dedicated to serving the corporate finance needs of middle market business owners, investors and creditors. The firm provides merger & acquisition, private placement, corporate restructuring, valuation and financial advisory services. Capstone maintains various industry specialties including one in healthcare staffing. The firm also possesses merchant banking capabilities to actively co-invest in transactions.

Additional information about Capstone Partners can be found at www.capstonellc.com.

LEADERSHIP TEAM

BOSTON CHICAGO PHILADELPHIA John Ferrara Ted Polk Eric Williams President, Managing Partner Managing Director Managing Director (617) 619-3325 (312) 674-4531 (215) 854-4065 [email protected] [email protected] [email protected]

Kevin Jolley LOS ANGELES SAN DIEGO Managing Director David Bench David Michaels (617) 619-3330 Managing Director Managing Director [email protected] (949) 460-6431 (858) 926-5950 [email protected] [email protected]

Capstone Partners Investment Banking Advisors

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