Realising Opportunities EXPERIENCED, FLEXIBLE &

MOTIVATED CHAMP Ventures is part of the CHAMP Group, ’s leading private equity investor with over $2 billion funds under management.

CHAMP Ventures is one of Australia’s longest running private equity partnerships.

Our team includes many of Australia’s most experienced private equity professionals.

Our philosophy is to partner with entrepreneurial founders and management teams to grow businesses. We form an aligned partnership and are comfortable with minority investments.

We have an established and proven track record across different sectors and investment cycles.

1 CHAMP Ventures is part of the CHAMP Group, Australia’s leading private equity investor with over $2 billion funds under management.

· We provide risk capital for buy-outs, expansion and acquisition of shares in companies in Australia and . We are comfortable with minority or majority shareholding positions.

· We are patient investors. We do not focus on short-term results, but rather on growing businesses over the long term. We are an aligned partner, providing assistance with strategy, mergers and acquisitions, management team development, financial structuring and exit planning. We bring an extensive global network and can open doors domestically and internationally. We work with management teams and founders to grow the value of businesses for the benefit of all stakeholders.

· Our experienced team is led by Su-Ming Wong, Greg Smith and Stuart Wardman –Browne, who together have more than 75 years investment experience. Our track record and operating history demonstrates that we can deliver on our commitments and partner with you to grow your business.

The breadth and depth of our global network ensures we have access to the best people, ideas and expertise. CHAMP Ventures is currently investing its latest fund raised in 2011. We are focused on mid-market businesses with enterprise values between A$50m and A$200m and looking to raise between A$10m and A$85m in equity. We have successfully invested in a wide range of industries.

2 OUR APPROACH

We adopt a partnership approach to all our investments, borne from our unique and proven track record in minority investing. Our team has experience across most industries and adds value through strategic advice, capital for expansion, assistance with acquisitions, management team development and exit planning. Our focus is on growing businesses in Australia and New Zealand looking to raise between A$10 million and A$85 million.

Ways we can help include: Management buy outs When a large corporate is selling a non-core business, often management is the logical buyer but lacks the required capital. CHAMP Ventures has a long history of partnering with management teams to acquire a business from its existing owners. We partner with managers already running the business or with experienced executives looking to invest in and grow an established company.

Expansion capital Growth requires capital, whether to fund more capacity, an acquisition or expansion into a new market. At CHAMP Ventures we provide equity capital and assist in arranging debt financing to seize opportunities as they arise. We are experienced in developing the organisational systems to deliver growth and advise on how to avoid common pitfalls. We often take a minority shareholding alongside a company’s founders and work together to realise growth.

Replacement capital Not all company owners want to sell 100% of their shares. Sometimes different shareholders have different goals – some looking to exit while others wish to realise future potential. Often founders want to sell only a portion of their shares to diversify their wealth or to bring in a partner to help with succession planning and to maximise the ultimate value of the business.

Throughout its history, CHAMP Ventures has generated strong returns by growing businesses and managing the exit process for the benefit of all shareholders. As a complementary partner, we leave the day-to-day management of a business to the management teams and focus on the areas where we can best add value. Importantly, our advice is fully aligned with our partners.

3 Strategy People Through our due diligence process, discussions More than ever, finding, retaining and motivating with our partners, our in-depth understanding of staff is a key challenge for today’s businesses. an industry’s economic drivers, inherent risks We can help you develop your organisational and opportunities for value creation, we help to structure and recruit the best executive for the determine where a business can be in the future job. Executed properly, staff equity plans are a and how to get there. We provide a “sounding powerful motivator. Management ownership has board” for our equity partners. Our investment is been a key feature of our investment ethos and “smart money”. we can help design the right share option plan for your business. Finance Often equity finance is just one part of the Mergers and acquisitions solution. We have longstanding relationships Acquisitions are a key part of many growth with major commercial banks and other finance strategies yet they are often labour intensive and houses operating in Australia as well can be risky. Our core business is assessing and as experience in sourcing, negotiating and executing acquisitions. We can provide both the documenting other forms of finance. manpower and the expertise to help you identify targets, negotiate terms, conduct due diligence, Analysis and document and finance acquisitions. Growing companies often lack the resources to fully analyse the wealth of data available. We Exit Planning provide an extra pair of hands to distil, to interpret We have secured exits for over 45 of our portfolio market insights and to assess key issues such as companies through trade sales, secondary capital expenditure proposals, new products or buyouts, floats and recapitalisations. We can new markets. draw on this experience to run an exit process to maximise outcomes for all shareholders. Broad Network Exit planning starts well before the formal Over our 20-year history of partnering with proven process commences and may include a review entrepreneurs and management teams, we have of a company’s strategic position, building an developed an extensive network within Australia independent board, developing the reporting and around the world. systems and readying the business. We know what the markets look for and can position a company to increase its value.

Our best referees are our former partners. We are proud that many of them remain investors and affiliates well after the original transaction.

4 OUR TEAM

Su-Ming Wong Greg Smith Stuart Wardman-Browne Gareth Banks ME MBA Diploma Accounting NIA Executive Director BSc (Mathematics Hons), ACA Chief Executive Officer Executive Director Director Stuart has over 20 years of Su-Ming is an investment professional Greg joined CHAMP Ventures in international corporate finance Gareth joined CHAMP Ventures with over 28 years’ direct investment, 2009 following the merger with AMP experience including private equity, in April 2004 and is responsible international corporate advisory and Capital’s Private Equity business. initial public offerings, acquisitions and for identifying and transacting merchant banking experience. He was formerly the Head of Private divestments. new investment opportunities and Equity, AMP Capital Investors, and monitoring investments. He is a director of several portfolio has over 26 years of professional Since joining the group in 2001, companies including Lorna Jane, SG experience in the Australasian private Stuart has led the investments in He is a director of Intercast & Forge, Fleet, H-E Parts and Intercast & Forge. equity industry. Australian Temporary Fencing, Taura and H-E Parts. He was heavily Amdel Laboratories, HealtheCare, Prior portfolio directorships include Greg is a director of Employment involved in managing the investments Taura Natural Ingredients, SEEK, TSmarine, Retail Apparel Group, Services Holdings and Australian in ATF, Mulford and Minelab EnGeneIC, Gekko Systems, Maxamine Dexion, Amdel and Mulford. Portable Buildings, as well as Ortho Electronics. and G2 Therapies. Stuart’s current Group, Jeminex and United Equipment Mr Wong has been a member of the directorships include Taura, Vesco Prior to joining CHAMP Ventures, within the AMP portfolio. He was Council of University of Technology, Foods, Australian Convenience Foods Gareth spent six years in the previously a director of Vision Group, since 2010. He was a founding and EnGeneIC. restructuring division of KPMG in the director of National ICT Australia (a Olex Cables, Sabre and a number of UK working with underperforming centre of excellence in ICT research AMP subsidiaries. Prior to joining CHAMP Ventures, businesses across Europe, and & development), a member of the Over Greg’s 15 years with AMP Stuart was a partner and director of Australia. In 2001, he moved to ISIS Industry Research and Development Capital he was responsible for three Ernst & Young Corporate Finance Equity Partners in the UK where he Board and a director of Unisearch. private equity funds and a number in the UK and Australia, where he was involved in development capital He was a council member of the of large international unlisted direct focused on growth strategy, capital and MBO transactions across multiple Australian Venture Capital Association investments. He was elected Chairman raising and acquisitions for growth sectors. He also managed a £40m and was a member of the South of Venture Capital companies. In the UK he was fund of fast growth companies listed Australian Government’s Venture Association in 2002. Greg was seconded for 18 months to NatWest on the Alternative Investments Market Capital Board. appointed Head of AMP Capital’s Markets where he funded eight (AIM). Private Equity Division in 2003 and acquisitions. He holds a Master of Engineering from Gareth holds a Bachelor of Science continues as an advisor on their the University of Canterbury, New Stuart is an Associate of the Institute degree from Manchester University private equity funds. Zealand and a Master of Business of Chartered Accountants of England and is a member of The Institute of Administration from the Australian Prior to joining AMP Capital, Greg was and Wales, an Associate of the Chartered Accountants in England Graduate School of Management. an executive director of Audant Capital Institute of Financial Services and has and Wales. He has been an AVCAL Services. been an AVCAL Council Member since Council Member since January 2011. December 2008.

Adrian Kerley BApp Fin BCom (Accounting) CA Associate Adrian joined CHAMP Ventures in 2009 and is responsible for analysing and executing investment opportunities, in addition to monitoring existing investment companies. Adrian is currently actively involved in Lorna Jane and SG Fleet, and was involved in the management and exit planning for TSmarine.

Prior to joining CHAMP Ventures, Adrian spent seven years with Woolworths Limited in various operational and finance roles. Most recently Adrian was a corporate finance analyst responsible for merger and acquisition analysis and execution, strategic planning and management of business development projects.

Adrian is a member of The Institute of Chartered Accountants in Australia and has a Bachelor of Applied Finance and Bachelor of Commerce (Accounting) from Macquarie University.

5 Jonathan Kelly Paul Readdy 7 Melanie Strong Kristin Vaughan MBA (Exec) BE (Hons 1) BCom CPA LLB (Hons) B Comm Ch E (Hons 1) Director Director Associate Director Associate Director

Jonathan has been part of the Paul joined CHAMP Ventures in Melanie joined CHAMP Ventures Kristin joined CHAMP Ventures in investment team at CHAMP Ventures 2009 following the merger of AMP in June 2006 and provided support 2006 and is responsible for identifying since 2000, initially working across the Capital’s Private Equity business with during the investment period and on and transacting new investment AMIT#3 and AMWIN portfolios before CHAMP Ventures and is responsible the exit of the portfolio companies opportunities and monitoring CVIT#5 was raised in 2002. for identifying and transacting Retail Apparel Group and Healthe investments. new investment opportunities. Care Australia. She is also involved in She is currently a director of Vesco Jonathan’s investment and portfolio identifying, analysing and executing Foods and Australian Convenience management experience includes SG During Paul’s nine years at AMP new investments and bolt-on Foods, and an alternate director of Fleet, Employment Services Holdings, Capital, he was a director or alternate acquisitions. EnGeneIC. Kristin was previously Australian Portable Buildings, Amdel, director of a number of portfolio a director of TSmarine and also Dexion, Tarocash, Video Ezy, Seek companies including Multix, Olex Prior to joining CHAMP Ventures, managed the investment in and Minelab Electronics. He managed Holdings, Vision Group, Jeminex, Melanie was an analyst with global Mastermyne. the sale of Amdel to global trade One Group Retail, National Fire investment bank Lazard, focused player Bureau Veritas in 2008, the and United Equipment. Paul is solely on mergers and acquisitions, Prior to joining CHAMP Ventures successful IPO of Dexion in April 2005 currently a director of Lorna Jane. including cross-border transactions. Kristin spent two years with and the sale of Video Ezy in July 2005. management consulting firm AT Jonathan currently serves as a director In addition to 10 years private equity Melanie began her working career Kearney. In this role she worked on of SG Fleet, Employment Services experience, Paul has practiced with Reuters Media Finance, in strategic and operational engagements Holdings and Australian Portable as an accountant and has 5 years London, before completing her law across a broad range of industries Buildings. experience in banking and finance degree and joining Ernst & Young’s including manufacturing, transportation with Westpac and Sanwa Bank. specialised financial modelling team. and telecommunications. Kristin also Prior to joining CHAMP Ventures, spent three years with Arnott’s Biscuits Paul holds a Bachelor of Melanie has a combined Bachelor Jonathan worked as an electrical in product development and production Commerce from the University of Commerce and Law from the engineer in various roles, including management. of and is a CPA. University of Melbourne. four years with Cochlear Limited. Kristin holds a Bachelor of Chemical Jonathan has a Master of Business Engineering from the University of Administration from the Australian Sydney. Graduate School of Management and a Bachelor of Engineering from the University of Sydney.

Barry Zuckerman Fiona Doherty BCom B Bus LLB Finance Director Compliance Manager 7 Barry joined the CHAMP group Fiona joined CHAMP Ventures in of companies in 2001 as Chief 2005 as the Compliance Manager. Financial Officer. He has considerable She is responsible for the daily experience with acquisitions, due compliance functions for CHAMP diligence, structuring, listed reporting Ventures including review, execution and accounting for mortgage, and management of transaction property, equity trusts both retail and documents, trustee liaison, corporate wholesale, taxation and compliance. governance and risk mitigation. His funds management industry experience was initially with the Prior to joining CHAMP Ventures, Howard Group, and subsequently Fiona worked as a Contract Manager with Challenger International Limited at Telstra Corporation Limited and (“Challenger”), both listed ASX previously with a Risk Consulting companies. He was the CFO and a firm based in London. member of the Executive Committee Fiona is admitted to practice as a of Challenger, and played a significant solicitor. role in its emergence from a niche investment bank into a top 100 listed business. Barry also gained professional experience with Ernst & Young and PricewaterhouseCoopers in audit and information systems. Barry is a member of the Australian Institute of Chartered Accountants. In 2004, Barry received an AVCAL Outstanding Service Award for his contribution to the AVCAL Disclosure Guidelines.

6 OUR PORTFOLIO

RSEA is a specialist provider of workwear, Lorna Jane is a Brisbane based designer, personal and workplace safety, and hirer of wholesaler and retailer of its own proprietary road safety equipment. The business has range of women’s fitness and leisure apparel. operations across Australia and New Zealand, Lorna Jane is the leading brand in women’s including 17 super stores and 6 hire depots. fitness apparel in Australia and principally Strong demand for its non-discretionary positions itself as an aspirational brand for active products is expected to continue driven by women in the 25-45 year old demographic. tightening OH&S legislation and awareness, In April 2010, CHAMP Ventures took a significant growth in underlying customers’ industries, minority stake, partnering with the founders to and employee numbers and churn in those help grow the business. With broad demographic industries. RSEA plans to expand the store appeal and retail stores nationwide, Lorna network through Greenfields and by acquisition. Jane is well positioned to take advantage of a CHAMP Ventures acquired RSEA alongside the sustained shift towards health and well-being existing management team in January 2012. within the community.

Taura Natural Ingredients (Taura) is a Australian Portable Buildings (APB) is a leading provider of reconstituted fruit pieces manufacturer and hirer of high specification and pastes to worldwide manufacturers of portable buildings, with operations in Sydney, nutritional snack foods such as muesli bars, Brisbane, Townsville and Perth. APB is focused extruded fruit snacks, cereals and confectionery. on high-growth segments within mining and Taura manufactures in two state-of-the-art resources, electrical switchrooms and general facilities in New Zealand and Belgium using a hirers, as well as government, education, unique technology to rapidly extract moisture industrial and general commercial opportunities. while retaining flavour, colour and texture. CHAMP Ventures acquired APB in 2007 by CHAMP Ventures partnered with management partnering with a new management team to acquire the company in January 2007. that brought deep industry experience and We believe Taura is well positioned to take operational strength. APB has grown strongly by advantage of the growing consumer trend investing to establish a hire fleet, expanding its towards healthier eating. operations in Western Australia and Queensland, and targeting high value niche segments such as electrical switchrooms and kitchens.

7 SG Fleet is a leading provider of fleet H-E Parts is the world’s largest supplier of management and salary packaging services to non-OEM reconditioned and aftermarket parts corporate and government customers across a and consumables for heavy machinery used in broad range of industry sectors in Australia, the mining, quarrying and heavy construction New Zealand and the . Market industries. With offices in North & South growth is driven by a continued trend to the America and Australia, it supplies mining outsourcing of fleet management services, to companies around the world. H-E Parts was specialist, third-party providers. Key segments founded in 2006 by Frontenac, a Chicago- include passenger vehicles in the tool-of- based Private Equity firm, and Jean-Paul trade and novated lease segments, as well Richard, CEO. Since then it has acquired seven as a broad range of commercial vehicles. SG parts businesses in the US and Australia. Fleet has built a market reputation for quality CHAMP Ventures provided expansion capital in and customer service, delivered by dedicated December 2008 to help fund further acquisitions staff and best-in-class operational systems. and assist in the expansion of H-E Parts in CHAMP Ventures acquired a significant Australia. minority stake in SG Fleet in April 2011, as local partner to Super Group Limited (South Africa). SG Fleet’s senior management team also invested alongside CHAMP Ventures.

Employment Services Holdings (ESH) is a Vesco Foods manufactures frozen meals major provider of welfare-to-work services to and meal components under its own brand government agencies in Australia and the United as well as to other food companies for sale Kingdom (UK). Trading as IPA Recruitment, through the national grocery, food service the business also operates a permanent and and petrol and convenience markets. temporary recruitment services to a broad CHAMP Ventures acquired the business in a range of customers, focused on blue and pink management buy-out in December 2003. collar segments. The delivery of welfare-to- work services by third-parties is an increasing Australian Convenience Foods (ACF) ) is trend across several countries, particularly Australia’s leading manufacturer and distributor the UK, driven by increased outcome levels, of sandwiches and other fresh convenience quality of service and cost of delivery. products to the petrol and convenience, food service and retail channels. The business CHAMP Ventures sponsored the formation operates a manufacturing facility and of ESH in 2007, funding the merger of three distribution centre in each of Sydney, Brisbane, leading Australian providers (now trading as PVS Melbourne, Adelaide and Perth. The business Workfind) and ESH’s entry into the UK market, was separated from the Vesco Foods Group. through the acquisition of PPDG in 2008. Funds advised by CHAMP Ventures remain the majority shareholders, alongside management.

8 TRANSFORMATION

Amdel Limited is the market Three strategic acquisitions leader in analytical testing were identified, completed to the mining sector in and integrated – Ultra Trace Australia, and offers testing and Independent Metallurgical services across a range Laboratories consolidated of other markets including Amdel’s position as the food, environmental, Australian market leader in pharmaceutical, materials and minerals testing; while Lab Mark petroleum. consolidated Amdel’s market position in environmental testing. Amdel was established in 1960 as a joint initiative of the Key hires in business Commonwealth and South development, operations and Australian governments and finance, broadened Amdel’s private industry, and was commercial skills throughout the privatised in 1987. CHAMP business. Ventures sponsored an MBO of Amdel doubled revenue and Amdel in December 2005. grew earnings by more than four We refocussed Amdel on its core times during CHAMP Ventures’ minerals business. To capture ownership. Employees increased large-scale testing programmes, from 525 to over 1,200. CHAMP Ventures invested more In May 2008, Amdel was than $15 million establishing acquired by Bureau Veritas, greenfield facilities at Wingfield a global test and inspection (South Australia) and Mt Isa business. Amdel is a platform (Queensland), increasing for further expansion by Bureau capacity in Western Australian Veritas into the global minerals and upgrading information testing market. systems.

Steve McAllister “CHAMP Ventures provided the strategic vision, funding and support to transform Amdel from an unloved subsidiary to an Australian leader in minerals testing.”

9 • Quadrupled earnings and grew employees from 525 to over 1,200 • Restored strategic focus on core minerals business and built Australian market leader in minerals testing • Targeted substantial capital investment to upgrade capacity and support specific customer opportunities • Expanded geographically and consolidated market position through three strategic acquisitions

10 EXPANSION

Mastermyne is a specialist CHAMP Ventures became a provider of services to the significant minority shareholder Australian underground coal in September 2005. Key senior mining industry. It is a market managers bought into the business leader in Queensland’s Bowen at the same time. Basin, the world’s largest Following CHAMP Ventures’ deposit of high quality coking investment, Mastermyne’s revenue coal and has a growing presence and profits increased by almost in . three times. The business grew By 2005 founders Andrew Watts organically and via six strategic and Darren Hamblin had grown acquisitions which expanded Mastermyne from an idea in 1996 Mastermyne’s geographic reach to one of the Bowen Basin’s and service capabilities. Profits largest underground coal mining were reinvested into the business contractors. The business had including selective expansion of the reached $33m in revenue and both equipment fleet. CHAMP Ventures founders were running the business helped transition day to day as their core asset. Andrew and management of the business from Darren sought CHAMP Ventures’ the founders to a CEO, developed involvement as part of a managed the second tier management team succession plan. Both wanted to and built an in-house finance team. be able to pursue opportunities Mastermyne listed on the Australian outside of Mastermyne but Stock Exchange in May 2010 (the recognised they needed external only private equity business listed skills to achieve this whilst in 2010) and performed strongly continuing to grow the business. in the period after listing. CHAMP Ventures realised four times its investment cost with an internal rate of return of 36% p.a.

ANDREW WATTS “CHAMP Ventures’ investment allowed Darren and I to de-risk our personal finances but remain majority shareholders and continue to grow the business. CHAMP Ventures helped us professionalise Mastermyne and prepare it for the ASX.”

11 • Transitioned management from founders to CEO and developed second tier management • Expanded in-house finance team and upgraded financial reporting systems. • Drove six strategic acquisitions to expand geographic reach and services • Selectively expanded the equipment fleet • Listed on the ASX and performed strongly

12 PARTNERSHIP

Retail Apparel Group (RAG) In addition, the depth of the team is a highly successful men’s has been increased across all areas specialty apparel retailer trading of the business. under three distinct brands, each Earnings close to trebled during our catering to a different market investment through organic growth segment. and acquisition. In March 2007, The Executive Chairman, Stephen the first Connor store was opened Leibowitz founded the business and the brand is flourishing. In July with his brother in 1987. CHAMP 2007, RAG acquired yd which was Ventures managed fifth fund quickly and successfully integrated. CVIT#5 initially invested in RAG in The business now has over 250 July 2004 as part of the succession stores across Australia and New planning of the two founders and to Zealand. assist with positioning the business In early 2011, after seven years for continued growth. At that stage developing the business RAG was the business trading as Tarocash ready for its next stage of growth. had 43 stores and our investment RAG was sold to Navis Capital, centred around partnering with a and the management team has successful entrepreneur to roll-out re-invested alongside Navis. his highly profitable concept on a The movement from a founder national basis. reliant one brand business to a Initially, the then CEO, Stephen corporatized portfolio of brands Leibowitz was heavily involved led to RAG being an attractive with all aspects of the business. secondary buy-out candidate. The In 2007 Gary Novis was hired, proceeds to CVIT#5 were in excess and appointed CEO in 2008 and of $68 million representing a cash Stephen moved into an Executive multiple of 2.9x and an IRR of 22% Chairman role. (including dividends received during the life of the investment).

STEPHEN LEIBOWITZ “A key benefit I have gained from working with CHAMP Ventures is learning the importance of working on the business, rather than in the business.“

13 • Partnered with entrepreneur to back a roll-out of a highly profitable store concept, growing from 43 stores to 248 stores • Managed and funded yd acquisition • Developed a new brand to provide future growth • Assisted with succession planning and corporatisation of the business • Exited via sale to private equity

14 OUR BOARD

Bill Ferris Professor Jeremy Davis Greg Smith ac mba b ec (ho) AM Su-Ming Wong Chairman Non-Executive Director Stuart Wardman-Browne Bill is a veteran of private equity in Jeremy has been involved with the Australasia, founding Australia’s first group since 1989. He was Dean and See Page 5 for details venture capital firm in 1970. He has a director of the Australian Graduate been Executive Chairman of CHAMP School of Management from 1980 since its formation in 2000, and of its until 1989. He then continued as a predecessor, Australian Mezzanine Professor in the School until January Investments Pty Ltd (AMIL), which 2006 having been appointed to the he co-founded in 1987 with Joe Australian Mutual Provident Society Skrzynski. Chair of Management.

Bill is Chairman of the Garvan Institute In 1970 Jeremy joined the Boston of Medical Research, International Consulting Group (BCG), a leading Energy Services Pty Ltd, Accolade management consulting firm Wines Australia and UK and Chair specialising in corporate strategy. of the Health and Hospitals Fund After working in Boston and Paris, he Advisory Board as part of the was appointed Vice-President and Australian Federal Government’s director for San Francisco where he Nation-Building Funds initiative. Other established the BCG’s West Coast current directorships include Director, office. Immediately prior to joining the Garvan Research Foundation and AGSM, Jeremy was BCG’s Vice- Member of the Harvard Business President and Director-General for School Asia Pacific Advisory Council. France.

Former directorships include Professor Davis is a Fellow of the Chairman; Australian Trade Australian Institute of Company Commission (Austrade), Austar United Directors and director of Transurban Communications Limited, Australian Group, Power and the SP Pacific Paper Products, and Director; Ausnet Group. He has also acted Austal Ltd, Bradken as chairman of AIDC Ltd and Capral Aluminium Ltd and a director of Resources Pty Ltd, Australian Institute Nucleus Limited and The Australian of Management (NSW) Ltd and Stock Exchange. Macquarie University Asia Pacific Council.

Mr Ferris holds an Honours degree in Economics from the University of Sydney and a Master of Business Administration from Harvard Business School.

15 EXPERIENCE SERVICES DESCRIPTION EARLY / EXPANSION / BUY-OUT Amdel Laboratory testing service provider Buy-out Australian Portable Buildings Manufacturer of portable buildings for hire Buy-out Australian Temporary Fencing Provider of temporary fencing Buy-out Education & Training Australia Vocational training services Expansion Employment Services Holdings Job network provider Buy-out H-E Parts International Supplier of non-OEM heavy machinery parts Expansion Mastermyne Underground coal mining services Expansion MITS Utilities asset management service Buy-out Royal Plast/Mulford Plastic Sheet Distributor Expansion Spectrum Fire Fire safety services Expansion TSMarine Services to the oil and gas sectors Buy-out

MEDICAL / HEALTHCARE Alchemia Carbohydrate chemistry drug discovery & development firm Early stage EnGeneIC Developer of gene / drug delivery biotechnology Early stage G2 Therapies Biotechnology firm developing therapeutic monoclonal antibody treatments Early stage Health Care Australia Private hospital manager Expansion Medical Imaging Australia Radiology and pathology services Buy-out

RETAIL & CONSUMER Blue Line Cruises Sydney Harbour cruise operator Buy-out Demasius Regional department stores Expansion Dstore Online retailer Early stage Lorna Jane Female active wear retailing Replacement RAMS Home Loans Mortgage origination & securitisation provider Expansion Tarocash/RAG Menswear retailer Expansion Video Ezy National video/DVD chain Buy-out

FOOD SECTOR Cuppa Cup Wines Vineyards & winery group Expansion Nudie Premium fruit juice manufacturer Expansion Rumentek Feedlot supplement manufacturer Expansion Taura Natural Ingredients Manufacturer of fruit pieces & pastes Buy-out Vesco Foods Manufacturer & distributor of frozen & chilled meals Buy-out

MANUFACTURING Adobe Air Inc. Air cooler manufacturer Buy-out Austal Ships High speed ferry manufacturer Expansion Dexion Manufacturer of commercial racking systems & workspaces Buy-out Furniture Australia Office furniture manufacturer Buy-out Gekko Mineral recovery equipment manufacturer Early stage Intercast & Forge Automotive & rail component manufacturer Buy-out Minelab Manufacturer of metal detection products Early stage Oldfields Holdings Paint application manufacturer Expansion Ontera Modular Carpets Carpet tile manufacturer Buy-out Penrice Soda Products Soda ash manufacturer Buy-out Southern Pacific Group Insulation & polystyrene block manufacturer Buy-out Western Aerospace Speciality alloys manufacturer Expansion

IT Datacraft Provider of data communications services & products Expansion Execom Group Database conversion software supplier Early stage Fairlight ESP Digital sound processing equipment Expansion Fingerscan Biometric security devices Expansion First State Computing Outsourced IT services provider Buy-out Hypertec DRAM assembler & distributor Early stage Internet Objects eCommerce hosting services Early stage KGrind Online youth portal Early stage Looksmart Category based internet search engine Early stage Maxamine International Website analytics software Early stage Protel International (Altium) Electronic design automation Early stage Rogen Specialised communications training Expansion Seek Communications Online recruitment services Early stage Vellis Vocational eLearning Early stage

16 AWARDS

The CHAMP Group is honoured to receive the most industry awards, including:

2011 2007 TSMARINE ATF Hire Group AVCAL Buyout Investment < $100m AVCAL Best Expansion Stage

Lorna Jane 2006 Outstanding Retailer of the Year ATF Hire Group CHAMP Group Entrepreneur of the Year AVCAL Excellence in Investor Reporting “Retail, Consumer & Industrial Products” Mastermyne 2010 Entrepreneur of the Year Mastermyne “Services including Financial, Business and Property” AVCAL Best Expansion Stage (Northern Region)

CHAMP Group 2005 AVCAL Excellence in Investor Reporting Seek 2009 AVCAL Best Early Stage CHAMP Group Dexion AVCAL Excellence in Investor Reporting AVCAL Best MBO < $50 million

2008 2004 Amdel Barry Zuckerman AVCAL Buyout Investment >$100m AVCAL Outstanding Service Award

Note: AVCAL is the industry association that represents and promotes the long term interests of the private equity and venture capital industry in Australia. CONTACT US

Su-Ming Wong Paul Readdy Chief Executive Officer Director Phone: +61 2 8248 8822 Phone: +61 7 3121 3098 Email: [email protected] Email: [email protected] Greg Smith Melanie Strong Executive Director Associate Director Phone: +61 2 8248 8822 Phone: +61 2 8248 8835 Email: [email protected] Email: [email protected] Stuart Wardman-Browne Kristin Vaughan Executive Director Associate Director Phone: +61 2 8248 8803 Phone: +61 2 8248 8865 Email: [email protected] Email: [email protected] Gareth Banks Adrian Kerley Director Associate Phone: +61 2 8248 8859 Phone: +61 2 8248 8834 Email: [email protected] Email: [email protected] Jonathan Kelly Director Phone: +61 2 8248 8852 Email: [email protected]

Sydney Brisbane Level 4 Customs House Level 36 Riparian Plaza 31 Alfred Street 71 Eagle Street Sydney NSW 2000 Brisbane QLD 4000 Phone: +61 2 8248 8822 Phone: +61 7 3121 3098 Fax: +61 2 9251 7655 Fax: +61 7 3121 3030

18 Sydney Level 4 Customs House 31 Alfred Street Sydney NSW 2000 Phone: +61 2 8248 8822

Brisbane Level 36 Riparian Plaza 71 Eagle Street Brisbane QLD 4000 Phone: +61 7 3121 3098