Selected Transactions

Petroleum Equipment Company Sold to Local Investor Group

Gasoline Equipment Service Co., Inc.—a provider of sales, service, and installation of equipment for the petroleum industry—was sold to The GESCO Group, LLC, led by David Faust. Gasoline Equipment is headquartered in Fort Wayne with an additional location in Indianapolis. With a current team of 23 employees, Gasoline Equipment has served the states of Michigan, Ohio, and Indiana for over seventy years. Former owners, Jack and Rich Dunifon, will help in the transition of the Company and serve in an advisory role.

David Faust and his group bring vast experience to GESCO. David has a background in warehousing and distribution and has led several successful growth initiatives for various businesses. Others involved in the new ownership group possess backgrounds in construction, petroleum and ethanol, and a variety of service-based organizations. Individually, they have owned a number of other businesses in the Fort Wayne area and understand what it takes to lead profitable and growth-oriented businesses. Tim Hartigan, who has assumed the duties of General Manager, has 37 years of Senior Executive experience in manufacturing, warehousing and distribution, and service industries. He has also served in advisory and consultative roles for a variety of businesses providing direction and leadership with strategy and organizational development.

Faust. “We see great opportunities for this business, especially considering the strong foundation that has been built by the previous owners over so many years. It is our desire to build on the principles of hard work, integrity, and an intense focus on customer service that have already been established in order to grow the business and maximize its ultimate potential. We have a marvelous team in place at GESCO already and are anxious to add more jobs and opportunities as we develop our organization.”

Bostwick-Braun Acquires Wayne Fasteners, Inc.

The Bostwick-Braun Company, one of the Toledo area’s oldest businesses and an ESOP since 1980, announced its sixth acquisition for which the Principals of True North Strategic Advisors, LLC served as advisors.

Wayne Fasteners is a full line distributor of fasteners, construction and industrial supplies. It has been in business over 41 years serving Indiana and surrounding states from its Fort Wayne location. Wayne Fasteners will be part of Bostwick-Braun’s Industrial Business Unit and will operate as a wholly-owned subsidiary of Bostwick-Braun.

The Wayne Fasteners organization is led by Charlie Keller. Under Charlie’s leadership, Wayne Fasteners has produced consistently strong earnings. Charlie will continue to serve as President of Wayne Fasteners, Inc.

Wayne Fasteners employs 32 associates working out of one location. Wayne Fasteners’ employees take great pride in providing value-added solutions to customers such as kitting & packaging services, tool repair, bandsaw blade welding, and light assembly services. Its supply of fasteners, abrasives, and other construction and industrial supplies is the largest in the area.

“We see tremendous potential to cross-sell products in this merger. Expanded market baskets, enhanced programs/services, and joint marketing efforts will give customers the total solutions that they are looking for today,” said Chris Beach, President and Chief Executive Officer of Bostwick-Braun. “Wayne Fasteners, Inc. will continue to operate out of their Fort Wayne facility. The company is a strong, profitable organization that will make a positive contribution to Bostwick-Braun’s shareholder value from day one.”

Parrotts Transfer Highmark TechSystems Ownership

FORT WAYNE, IN November 29, 2016: Building on her 16 years of diverse exhibit industry experience and her 25 year professional career, Debbie Parrott has purchased Highmark TechSystems from her father, Mick Parrott, who started designing and producing exhibits over 38 years ago. As owner of ICON Exhibits, Mr. Parrott was an early adopter of systems thinking and modular exhibit architecture. Debbie has been the company’s President for the past 2 years.

Commenting on this change in ownership, Parrott said, “As a father watching my daughter take the reins of this dynamic company, I am immensely proud of her and her spirit to carry on our family’s commitment to an industry that has captivated my imagination for so many years. I know Debbie will take Highmark in new directions that are beyond what I ever envisioned. An important bonus for our customers will be their ability to leverage the value of Highmark TechSystems now being a woman-owned business.” .

Ms. Parrott said, “I’m honored to take over ownership of this remarkable and rock-solid company at a point in its ascendancy where we can continue to partner with designers and producers as we bring on stream smart new products and services. I’m excited to build on my father’s legacy of business know-how and integrity, his entrepreneurial vision and drive and his attentiveness to customer and marketplace needs.”

The Ellis Company Aquires Safe-Way Garage Doors LLC, Warsaw, Indiana

WARSAW, IN February 12, 2016: The Ellis Company has acquired Safe-Way Garage Doors LLC, a manufacturer and distributor of residential, commercial and industrial overhead garage doors. Its 107,000-square-foot plant is located in Warsaw and employs 65 workers. Safe-Way Door also operates facilities in Tennessee and Missouri with distribution throughout North America.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to Safe-Way on the sale of the business. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc., member FINRA/SiPC. Burch and True North are not affiliated entities.

TX035

JD Norman Industries, Inc. Acquires Henman Engineering & Machine, Muncie, Indiana

ADDISON, IL January 26, 2016: Diversified metal component manufacturer JD Norman Industries, Inc. has announced the acquisition of the assets of Henman Engineering & Machine, Inc. The acquisition includes two precision machining plants in Muncie and Winchester, Indiana. The acquisition was finalized Jan. 25. Terms of the transaction were not disclosed.

“The vision of JD Norman is to build an organization with world-class manufacturing, product leadership, geographic reach and customer diversification. The acquisition of Henman Engineering & Machine moves us closer to this vision,” said Justin D. Norman, president and chief executive officer, JD Norman Industries, Inc. “Henman’s product portfolio, plant locations and customers are key additions to our company and a strong strategic fit within our machined metals business unit.”

Henman manufactures precision machined components including coil housings, shift forks, sprockets, ball cams, pistons and shift cams. Henman’s customers include OEMs and Tier 1 automotive suppliers.

True North Strategic Advisors, LLC served as the exclusive strategic and financial advisor to Henman Engineering in this transaction.

TX034

Par-Kan Company Acquired by GB Manufacturing Company

DELTA, OH / SILVER LAKE, IN January 1, 2016: GB Manufacturing Company is pleased to announce its acquisition of all of the assets of Par-Kan Company, a leading manufacturer and marketer of agricultural grain and seed handling equipment, towable airport ground support equipment and refuse handling equipment.

Par-Kan’s roots date back almost 60 years to S.L. Parker’s opening of a metal fabrication business to satisfy the equipment needs of his farmer neighbors. Over the decades since, the Company has developed innovative products for the agriculture and other markets by following the simple vision of its founder: to constantly strive to satisfy the customers’ requirements, by providing quality, value and performance.

Son of S.L. and current owner, Steve Parker, said: “I am confident that the folks at GB will carry on the traditions long established by the company.”

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to Par-Kan on the sale of its assets to BG Manufacturing. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX031

ACRT Inc. Acquires Bermex

AKRON, OH August 31, 2015: ACRT Inc., the nation’s largest, independent utility vegetation management (UVM) company, is excited to announce that it has acquired Bermex Inc., a meter reading and field services company based in Detroit with more than 200 employees. The move strengthens ACRT’s service offerings and provides Bermex a national market for its expertise and offerings.

“The synergies between the two companies are impressive. We have similar cultures, service models and employee focus. Most importantly, we share a similar customer base, and while we both provide services to utility companies, these services do not overlap,” said ACRT President Mike Weidner. “We are very excited about the opportunities ahead for our combined company.”

Bermex serves multiple types of utility companies including gas, electric and water, providing meter reading, meter change-outs, field collection services, line and leak detection and other field services. The company serves customers in Ohio, Michigan, Virginia, Texas, Georgia and Florida.

ACRT provides independent utility vegetation management consulting to power companies nationwide on effective strategies to manage vegetation near rights-of-way, helping to ensure safe and reliable service while meeting regulatory requirements.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to ACRT on the purchase of Bermex. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

As part of its successful buy-side advisory practice, True North’s engagement with ACRT continues. ACRT seeks to acquire businesses strategically aligned with its utility service offerings.

TX031

Brunk Holdings, LLC Acquired by Three Private Equity Funds

August 17, 2015: Corporate Capital Partners LLC (CCP) and Capital For Business (CFB) in St. Louis, and Aldine Capital (Aldine) in Chicago announced the acquisition of Brunk Holdings, LLC. Brunk Holdings is a third-party logistics provider to the plastics industry including full-service plastic pulverizing. From two locations in the Midwest including Goshen, IN and Bloomington, MN, the company is a leader in rail transportation, warehousing and hauling of plastic material.

“We are very excited to partner with the management team of Brunk to complete this acquisition,” stated Holly Huels, managing partner with Corporate Capital Partners. “Brunk is a well-run company with substantial opportunities for growth in the plastics logistics market. The three private equity groups, led by CCP, will work closely with management and provide capital for strategic growth initiatives.”

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to Brunk on the sale of the business. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX031

Roadrunner Transportation Systems Acquires Integrated Services Incorporated

July 21, 2014: Roadrunner Transportation Systems, Inc. (RRTS), announced it has acquired Integrated Services, ISI Logistics and ISI Logistics South (collectively, “Integrated Services” or “ISI”). ISI is a regional logistics provider focused on the warehousing and transportation needs of its customers, primarily the automotive industry, and is based in Kokomo, Indiana.

Pat McKay, President of Roadrunner Truckload Logistics, said, “In addition to adding capability to service customers in the Midwest, ISI brings a strong reputation for quality. ISI’s team, led by Mike Taylor, has done an excellent job building relationships with its customers through high service levels and creative solutions. We look forward to working with ISI’s team as we collectively pursue the growth opportunities available to the business.”

In 2013, Integrated Services generated revenues of approximately $21 million. Integrated Services is expected to be accretive to Roadrunner’s earnings in 2014.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to ISI on the sale of the business. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX030

O2 Investment Partners, LLC Acquires DuALL Precision, Inc.

May 1, 2014: DuAll Precision, Inc., a niche manufacturer of hydraulic cartridge valve components based in Addison, Illinois, announced today that O2 Investment Partners, LLC based in Bloomfield Hills, Michigan, has partnered with founders Michael Butler and Stanley Boksa to acquire a majority interest in DuAll Precision. DuAll is a leading manufacturer of components for hydraulic cartridge valves, including check valves, solenoid valves, sequence valves, directional valves, counter balance valves and pressure control valves. The Company primarily provides components for hydraulic systems in the transportation, agriculture and heavy equipment markets.

As part of its custom engineered valve and flow control strategy, O2 Investment Partners acquired DuAll Precision through O2 Specialty Mfg Holdings, which also owns its existing valve manufacturing business, Mercury Manufacturing Company, located in Wyandotte, MI. The two businesses will continue to operate out of their existing facilities and will be led by Kent Niederhofer, CEO of O2 Specialty Mfg Holdings.

Michael Butler, President of DuAll Precision, commented, “Our partnership with O2 – an organization which shares our values and strategic vision – provides access to the resources necessary for DuAll to continue its growth trajectory with existing core products and customers while allowing for expansion into additional targeted niche markets, products and technologies, including opportunities with our new sister company, Mercury Manufacturing.” Niederhofer added, “We are very excited about bringing DuAll into our family of custom engineered valve and flow control products. DuAll brings significant expertise in high precision machining and hydraulic valve components. The design, engineering and manufacturing capabilities of both DuAll and Mercury are very complementary and we believe that each will strengthen the other and present significant growth opportunities for each other.”

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to DuAll on the sale of the business. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX029

Hubbell Lighting, A Core Business Platform of Hubbell Incorporated, Acquires Norlux

The Principals of True North Strategic Advisors, LLC (“True North”) advised the owners of Norlux on the sale of the company to Hubbell Lighting. The transaction was effective July 15, 2013.

Located in Carol Stream, IL, Norlux is a leader in the development of custom LED solutions and partners with original equipment manufacturers (OEMs), distributors, engineers, and designers to create, develop and build LED solutions for their specific applications.

The Norlux purchase immediately increases Hubbell Lighting’s scale and resources devoted to designing and manufacturing LED lighting systems including their best in class LED packaging, optical design, electronic control and thermal management capabilities. Norlux’s experienced employees, quick turn prototyping and lean manufacturing capabilities will assist Hubbell Lighting and other manufacturers in quickly taking projects from vision to fruition.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to Norlux on the sale of the business. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX028

Subsidiary of Khorporate Holdings, Inc. Acquires the Business of Electri-Tec Investor Group, Inc.

True North Strategic Advisors, LLC advised Electri-Tec Investor Group, Inc. on the sale of its business to a wholly-owned subsidiary of Khorporate Holdings, Inc. The transaction was effective November 26, 2012.

Electri-Tec, located in Angola, IN, is a niche manufacturer of electrical harnesses, cord-sets, and specialty molded products. Its products are manufactured for a wide variety of medical and industrial applications.

Other wholly-owned subsidiaries of Khorporate Holdings, Inc. include X-Y Tool & Die, Inc. located in LaOtto, IN and Mossberg Industries, Inc. located in Garrett, IN and Ontario, CA.

True North was the lead strategic and financial advisor to Electri-Tec Investor Group on the sale of the business.

TX027

CID Capital Opportunity Fund and Management Acquire Matilda Jane, LLC

The Principals of True North Strategic Advisors, LLC (“True North”) advised the owners of Matilda Jane, LLC on the sale of the company to CID Capital Opportunity Fund. The transaction was effective July 16, 2012.

Since 2006, Matilda Jane has designed, sourced, and marketed two distinct clothing collections for Trunk Shows each year – one collection for the spring and one for the fall. The product line is innovative consisting of more than 75 unique styles and is sold in all major US geographic markets. The company also markets their locally manufactured “Platinum” line nationwide via their website.

As part of the recapitalization, First Merchants Bank provided the senior financing, and Centerfield Capital Partners and CapitalSouth Partners provided the mezzanine financing.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to Matilda Jane on the sale of the business. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX026

The Bostwick-Braun Company Acquires Blackstone Supply Company

The Principals of True North Strategic Advisors, LLC (“True North”) advised The Bostwick-Braun Company in its acquisition of the business of Blackstone Supply Company. The acquisition was completed on June 16, 2012.

Blackstone Supply Company located in Providence, Rhode Island, has over 60 years of experience as a hardware distributor. Blackstone is a major New England distributor and leading hardware store supply company. This acquisition will provide Bostwick-Braun with a strong profitable presence in the northeastern United States. Blackstone will continue to operate as a wholly owned subsidiary of The Bostwick-Braun Company.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to The Bostwick-Braun Company on the acquisition of Blackstone Supply. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX025

Generation Growth Capital, Inc. Acquires Tri Aerospace, LLC

The Principals of True North Strategic Advisors, LLC (“True North”) advised the owners of Tri Aerospace, LLC on the sale of the company to Generation Growth Capital, Inc. The transaction was effective April 19, 2012.

Based in Terre Haute, Indiana, Tri Aerospace is a specialty parts manufacturer for major aerospace and several sub-tier aerospace engine suppliers. Tri Aerospace provides concurrent engineering, project management, and prototype builds on research and development projects.

Tri Aerospace was acquired as part of Generation Growth’s Model 2 Machine Group investment platform. Model 2 Machine Group is a GGC-led consortium of companies that provide OEM customers with rapid prototyping, parts development, near net shape casting development and high tolerance machining.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to Tri Aerospace on the sale of the business. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX024

Khorporate Holdings, Inc. Acquires Mossberg Industries, Inc.

The Principals of True North Strategic Advisors, LLC advised the shareholders of Mossberg Industries, Inc. on the sale of 100% of its stock to Khorporate Holdings, Inc. The transaction was effective November 28, 2011.

For over 90 years Mossberg has been supplying reels and spools for the wire, cable, industrial, textile and food packaging markets. The Company operates out of two facilities; one located in Garrett, Indiana with western operations being housed in Ontario, California. KHI plans to continue operation of the company under its present structure.

Khorporate Holdings, Inc. was formerly known as Huntington Electric, Inc. X-Y Tool & Die, Inc. located in LaOtto, IN is another wholly-owned subsidiary of Khorporate Holdings.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. were the lead strategic and financial advisors to Mossberg Industries on the sale of the business. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX023

Haven Manufacturing Indiana Inc. Acquires the Business of Hower Tool, Inc.

True North Strategic Advisors, LLC advised Hower Tool Inc. on the sale of its assets to Haven Manufacturing Indiana, Inc. The transaction was effective October 31, 2011. Founded in 1954, Hower Tool is a manufacturer of orthopedic components and medical orthopedic instruments. Located in Ossian, Indiana, Hower’s customers include many of the major orthopedic device manufacturers.

Haven Manufacturing Indiana, Inc., headed by Len Feddema is an affiliate of Haven Manufacturing, LLC., a precision machine company headquartered in Grand Haven, Michigan.

True North was the lead strategic and financial advisor to Hower Tool on the sale of the business.

TX022

Local Ownership Group Acquires Automation Engineering, Inc.

The Principals of True North Strategic Advisors, LLC advised Automation Engineering, Inc. on the sale of its assets to a local ownership group led by Leonard R. Braner. The transaction was effective August 17, 2011. Founded in 1976, by Michael E. McCullum, Automation Engineering provides all aspects of automation engineering, from systems design, through manufacturing, programming, implementation and training. AE designs and builds automated assembly and test systems for a wide range of applications on a world-wide basis.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. were the lead strategic and financial advisors to Automation Engineering on the sale of the business. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX021

Sankaty Advisors LLC and Granite Capital Partners Acquire Lakeview Farms, Inc.

The Principals of True North Strategic Advisors, LLC advised the shareholders of Lakeview Farms, Inc. on the sale of Lakeview Farms to Sankaty Advisors LLC and Granite Capital Partners. The transaction was effective August 4, 2011. Founded in 1988, Lakeview manufactures, markets and distributes a comprehensive line of branded and private label dessert products, dips, and sour cream through the retail and foodservice channels, including major retailers and mass merchandisers.

Sankaty Advisors LLC, the credit affiliate of Bain Capital LLC, is one of the nation’s leading private managers of fixed income and credit instruments investing in mezzanine, equity, leveraged loans and a variety of other securities and investments.

Granite Capital Partners focuses on investing in established businesses that have sustainable competitive advantages with a focus on a wide range of manufacturing and service businesses.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. were the lead strategic and financial advisors to Lakeview Farms on the sale of the business. The transaction was effective August 4, 2011. In order to assist True North with securities related transactions, including capital raises, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX020

Ideal Machining, Inc. Acquires Assets of Pro CNC, LLC

Ideal Machining Inc., a precision parts manufacturer located in Albion, Indiana and has acquired the assets of Pro CNC, LLC located in Churubusco, Indiana. Ideal will consolidate its operations into the current Pro CNC location. With the acquisition of the Pro CNC business Ideal acquired an ISO 9001 and 13485 supplier of precision machined products. The acquisition of the Pro CNC business by Ideal ensures the continuity of customer and vendor relationships.

The products of Ideal and Pro-CNC include a wide variety of machined parts produced from multi-axis CNC lathes and machining centers. The companies have machining experience with a broad variety of materials including castings, carbon steel, stainless steel, brass, and aluminum.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to Pro CNC on the sale of the business. The transaction was effective April 25, 2011. In order to assist True North with securities related transactions, including capital raises, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX019

The Bostwick-Braun Company Acquires JMC Sales and Engineering

The Principals of True North Strategic Advisors, LLC advised The Bostwick-Braun Company on its acquisition of JMC Sales & Engineering, Indianapolis, Indiana. The transaction was effective December 31, 2010. JMC Sales & Engineering is a leading manufacturing tool distributor located in the heart of the Midwest, with headquarters in Indianapolis and a branch operation in Fort Wayne, Indiana. The company will operate as a wholly owned subsidiary of The Bostwick-Braun Company.

The JMC organization is headed by Dave Mayer, who was sole owner of the firm. Under Dave’s outstanding leadership, the company was able to weather the devastating manufacturing recession of 2009 and rebound solidly in 2010. He will continue to serve as President and Chief Operating Officer of the JMC Sales and Engineering division of The Bostwick-Braun Company.

The JMC Sales and Engineering division will continue to operate out of the Indianapolis and Fort Wayne facilities. JMC is seen as a strong, profitable operation that will make a positive contribution to Bostwick Braun’s shareholder value. This merger adds another block to the solid, diverse foundation which Bostwick is building for the future.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. were the lead strategic and financial advisors to The Bostwick-Braun Company in this transaction. The transaction was effective December 31, 2010. In order to assist True North with securities related transactions, including capital raises, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX018

Pro Products, LLC Acquires Fertile Earth, Inc.

True North Strategic Advisors, LLC advised Pro Products, LLC. on its acquisition of certain assets of Fertile Earth Corporation Sandy, Utah. The transaction was effective September 16, 2010.

True North was the lead strategic and financial advisor to Pro Products, LLC. in this transaction.

TX017

The Bostwick-Braun Company Acquired Southern Hardware Company, Inc.

The Principals of True North Strategic Advisors, LLC advised The Bostwick-Braun Company on its acquisition of the Southern Hardware Company, Inc. effective April 5, 2010. Southern Hardware will operate as a wholly owned subsidiary under the name of Southern Hardware Co, Inc, a Bostwick-Braun Company.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. were the lead strategic and financial advisors to The Bostwick-Braun Company in this transaction. The transaction was effective April 5, 2010. In order to assist True North with securities related transactions, including capital raises, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX016

Whitcraft Enterprises, Inc. Purchases Assets of Acme Industrial, Inc.

The Principals of True North Strategic Advisors, LLC advised Whitcraft Enterprises, Inc. DBA, Precise Manufacturing on its acquisition of the assets of ACME Industrial, Inc, Columbia City, IN. The transaction was effective March 17, 2010. The acquisition by Precise broadens its operational skill sets and its customer and vendor base. The acquisition will also continue to strengthen Precise’s ability to provide manufacturing excellence, customer service and support that have characterized the Company’s long history. John Whitcraft, the President and Owner of Precise stated, “We are extremely pleased to add ACME’s skill set to the Precise organization. By utilizing the strengths of both companies, we look forward to building on our strong customer relationships and our continued commitment to customer service through on time delivery of quality precision machined parts that meet or exceed our customer’s expectations.”

Precise Manufacturing is an ISO 9001 and Q9001-2000 OEM supplier of precision machined products. Located in Fort Wayne, Indiana, Precise is a privately-held business providing high quality products and services to the defense, electronic and fuel dispensing industries for over 80 years.

Precise’s products include a wide variety of precision machined parts produced from multi-axis CNC lathes, horizontal/vertical machining centers and screw machines. Precise has machining experience with a broad variety of materials including castings, carbon and stainless steels, brass and aluminum. The acquisition of ACME will add additional horizontal/vertical machining center capacity, as well as Swiss machining capabilities.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. were the lead strategic and financial advisors to Whitcraft Enterprises, Inc. in this transaction. The transaction was effective March 17, 2010. In order to assist True North with securities related transactions, including capital raises, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX015

The People Fund Acquires Assets of Guardian Safety & Supply

The Principals of True North Strategic Advisors, LLC advised The People Fund on its acquisition of the assets of Guardian Safety & Supply, Visalia, California. The transaction was effective March 5, 2010.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. were the lead strategic and financial advisors to The People Fund in this transaction. In order to assist True North with securities related transactions, including capital raises, its principals are registered investment banking agents of Burch & Company, Inc, member FINRA/SiPC. Burch and True North are not affiliated entities.

TX014

ICON Exhibits Merges with Delphi Productions

True North Strategic Advisors, LLC advised ICON Exhibits concerning its merger with Delphi Productions. This transaction was effective March 5, 2009. True North was the lead strategic and financial advisor to ICON Exhibits on this transaction.

Delphi Productions and ICON Exhibits are each, one of America’s premier full service design and production companies in the exhibit and event industry. Delphi and ICON serve national and international customers in a wide range of industries and organizations including aerospace and defense, automotive, broadcast, consumer products, electronics, food and beverage, healthcare, manufacturing, museums and technology. The merger of the two companies increases the geographic coverage of the combined organization and adds services to both customer bases.

The new enterprise will be headquartered in the San Francisco Bay Area – current headquarters of Delphi – and will maintain the production, sales and service operation at ICON’s Fort Wayne, Indiana campus. Company leaders, Justin Hersh of Delphi and Michael Parrott of ICON, remain actively involved with Hersh serving as President and CEO and Parrott as Chairman of the combined businesses.

TX013

Don Gillett Acquires B & B Molded Products, Inc.

True North Strategic Advisors, LLC advised Don Gillett on the acquisition of B & B Molded Products, Inc. from its founder and sole shareholder. The transaction was effective January 31, 2009. True North was a lead strategic and financial advisor to Mr. Gillett on this transaction. The acquisition of B & B by Mr. Gillett ensures the continuity of customer, vendor and community relationships. This continuity will continue to allow B & B to provide the manufacturing excellence, customer service and support that have characterized the company since it was formed in 1993.

B & B Molded Products, Inc. is an ISO 9001:2000 custom injection molder of thermoplastic materials. Located in Napoleon, Ohio, B & B is a privately-held business providing high quality products and value-added services to the commercial, plumbing, janitorial supply and electrical industries.

B & B’s products include a wide variety of molded parts produced from injection molding machines with capacities ranging from 75 to 700 tons. In addition to its molding expertise, B & B provides value-added services for its customers including welding, bonding, insert molding and decorating. These value-added services give B & B a competitive edge over other injection molding companies.

TX012

Whitcraft Enterprises, Inc. Acquires Precise Manufacturing, Inc.

True North Strategic Advisors, LLC advised John Whitcraft, current President of Precise Manufacturing Inc., on the acquisition of the company from its existing shareholder group. The transaction was effective December 31, 2008. True North was the lead strategic and financial advisor to Mr. Whitcraft in this transaction.

The acquisition of the Company by Mr. Whitcraft ensures the continuity of customer and vendor relationships. This continuity will continue to allow Precise to provide the manufacturing excellence and customer service and support that have characterized the Company’s long history. John Whitcraft stated, “We are extremely pleased that this transition of ownership will be seamless in Precise’s continued commitment to customer satisfaction through on time delivery of precision machined parts that meet or exceed our customer specifications.”

Precise Manufacturing, Inc. is an ISO 9001 and Q9001-2000 OEM supplier of precision machined products. Located in Fort Wayne, Indiana, Precise is a privately-held business providing high quality products and services for over 80 years to the defense, electronic and fuel dispensing industries.

Precise’s products include a wide variety of machined parts produced from multi-axis CNC lathes, machining centers and screw machines. Precise has machining experience with a broad variety of materials including castings, carbon steel, stainless steel, brass, and aluminum.

TX011

Lakeview Farms, Inc. Acquires Flan Rico Confectionery, Inc.

True North advised Lakeview Farms in its acquisition of Flan Rico Confectionery, Inc. The acquisition was completed on October 6, 2008.

The acquisition brings the Flan Rico® and Señor Rico® brands into Lakeview’s comprehensive family of brands, which already include Lakeview Farms, Real Desserts®, Winky®, Luisa’s®, Margarita’s®, and Angelica’s®. Flan Rico Confectionery, Inc. is the leading company in authentic Hispanic refrigerated desserts.

Founded in 1988, Lakeview Farms is a manufacturer and marketer of a comprehensive assortment of branded and private-label refrigerated dairy and dessert products. The company services its customers from manufacturing facilities in Ohio, Wisconsin, and California. “Flan Rico has developed strong brands with a loyal following among a large segment of consumers, especially in the Western United States. We are enthusiastic about the opportunity to take Flan Rico to the next level through several operating and marketing initiatives we plan to pursue,” explained Gene Graves, CEO of Lakeview Farms. He added “the acquisition will strengthen our brand portfolio and enable us to offer a comprehensive line of high-quality products to a growing national market.”

TX010

Iron Out, Inc. DBA Summit Brands Acquires Household Cleaning Brands of Phelps Industries, LLC

True North advised Summit Brands in its acquisition of the Dishwasher Glisten™, Plink™ and Glisten Rinse Aid™ household cleaning product brands of Phelps Industries, LLC. The acquisition was completed on January 18, 2008.

Phelps Industries, LLC, located in Wakefield, Massachusetts, is engaged in the business of developing, sourcing, and marketing dishwasher and garbage disposal cleaning, deodorizing, and refreshing products, along with the development and distribution of pet snacks and treats. This acquisition pertains to the household cleaning line of products only.

Summit Brands, located in Fort Wayne, Indiana, is a manufacturer and marketer of leading household cleaning brands such as Super Iron Out, Disposer Care, Dishwasher Magic, Yellow Out, Lime Out, Instant Rust Out and Drain Out. Since its founding in 1958, Summit Brands has offered superior cleaning and water treatment chemicals. The acquisition of the household cleaning product line of Phelps Industries enhances Summit Brands’ already-strong portfolio of brand names and expands and diversifies its product offerings.

TX009

Stryker Corporation Acquires BioDuct® Technology

True North advised BioAvascular Solutions, LLC (formerly known as BioDuct, LLC), a subsidiary of Schwartz Biomedical, in the sale of company assets to Stryker Orthopaedics, of Mahwah, New Jersey. Although the sale of the assets was completed in October 2007, public announcement was made to coincide with the product launch.

The patented BioDuct® technology allows orthopaedic surgeons to repair the shock absorbing cartilage (meniscus) in the knee instead of removing it. Prior to the BioDuct® device, surgeons had no option but to excise the damaged portions of the meniscus, and this, unfortunately for the patient, can lead to (osteo)arthritis and even total knee replacement.

According to Dr. Herb Schwartz, president of BioAvascular Solutions and Schwartz Biomedical, “We are very excited to have Stryker Orthopaedics launch this technology into the market. Stryker is an excellent strategic partner and will provide the enhanced distribution and marketing expertise for BioDuct® products. With their broad and experienced sales force and market presence, our confidence is high that the right surgeons will have access to this technology and patients can ultimately receive the benefit.”

As a result of this transaction, BioDuct, LLC has changed its name to BioAvascular Solutions, LLC and will retain the rights to certain applications of the technology.

Roehm

Centerfield Capital Partners Provided Capital in Connection with the Recapitalization of Roehm Marine, Inc.

True North advised Roehm Marine, Inc. on the recapitalization of the company to Centerfield Capital Partners. The transaction was announced by Centerfield Capital Partners on August 22, 2007. True North was the lead strategic and financial advisor to Roehm in this transaction.

Centerfield is an Indianapolis, Indiana-based private equity firm that provides debt and equity capital to privately held companies in the Midwest. Centerfield provides capital to finance acquisitions, effect changes in ownership and support growth. Centerfield also partners with management teams and acquirers of companies seeking capital to purchase businesses.

Roehm Marine, headquartered in Fort Wayne, Indiana, is a manufacturer of medium and high-end pontoon boat furniture. Roehm Marine’s products include a full line of marine furniture comprised of wood and molded plastic components, which is sold to boat manufacturers and the aftermarket, under the Signature Seating name. Known for its high level of service to customers, the company uses state-of-the-art rotational molding to produce the highest quality products. Rob Roehm retained a substantial ownership stake in the business and continues as its president.

TX007

Avalign Technologies, Inc. Acquires Nemcomed, Inc.

True North advised Nemcomed, Inc. on the sale of the company to Avalign Technologies, Inc., a portfolio company of RoundTable Healthcare Partners. The acquisition was announced by RoundTable Healthcare Partners on August 1, 2007. True North was the lead strategic and financial advisor to Nemcomed in this transaction.

Founded in 1976, Nemcomed develops and manufactures precision medical devices that assist surgeons in providing improved quality of life for their patients. Nemcomed was founded in Hicksville, Ohio and expanded its manufacturing, engineering and research & development capacities through opening a new facility in Fort Wayne, Indiana (winter 2006). Nemcomed is a leading designer and manufacturer of precision machined medical implants and instrumentation for orthopedic specialties.

RoundTable Healthcare Partners, located in Lake Forest, Illinois is an operating-oriented private equity firm focused exclusively on the healthcare industry. Its portfolio company, Avalign Technologies, Inc. completed the acquisition of Nemcomed. Avalign’s acquisition of Nemocomed provides the company with first class precision machining capabilities, a strong team of design engineers and a proprietary line of instrumentation. The acquisition positions Avalign to be a leading full-service provider of outsourced services to medical device OEMs.

TX006

Pro Products, LLC Acquires American Hydro Systems, Inc.

True North advised Pro Products, LLC in its acquisition of American Hydro Systems, Inc. The acquisition was completed on March 27, 2007.

American Hydro Systems, Inc., a St. Petersburg, Florida-based business, makes chemicals and systems used to treat well water used in residential, industrial and commercial irrigation systems as well as plant nursery irrigation systems. American Hydro’s product lines include rust stain removal and prevention chemicals and systems, and fertilizers and fertilizer feeder systems for small scale irrigation.

Pro Products, LLC is a member of the Summit Brands group, headquartered in Fort Wayne, Indiana. Pro Products, LLC is a privately-held company that provides high quality, competitive, water treatment and cleaning products to fit the specific needs of the water conditioning and wholesale industries.

Pro Products acquired American Hydro in an effort to expand its product offering, attain a more diverse customer base and use its highly-developed distribution chain to enhance the sales of American Hydro products.

TX005

Tornier, Inc. Acquires DVO Extremity Solutions, LLC

True North advised DVO Extremity Solutions, LLC on the sale of the company to Tornier, Inc. The acquisition was announced by Tornier on March 3, 2007. True North provided selected advisory services to DVO including valuation, structuring and due diligence activities.

DVO Extremity Solutions, LLC isbased in Warsaw, Indiana. Founded in 2004, the company has already established itself as a leader and innovator in distal radius fracture repair systems. DVO has developed a portfolio of innovative products for upper extremity applications.

Tornier Inc. is a global orthopedic company headquartered in Eden Prairie, Minnesota. It is a leader in shoulder joint replacement and extremity surgical products. The company provides orthopedic reconstructive products for surgeons focused on joint replacement arthroplasty, allowing them to restore form andfunction for individuals suffering from arthritis and traumatic injury.

Tornier’s acquisition of DVO is consistent with its commitment to technological and market leadership.

TX004

The Bostwick-Braun Company Acquires Steel City Products, Inc.

True North advised The Bostwick-Braun Company in its acquisition of Steel City Products, Inc. The acquisition was completed on October 31, 2006.

Steel City Products, LLC, a Pittsburgh, PA-based distribution business, was formerly owned by Sterling Construction Company, Inc. (NASDAQ GS: STRL), located in Houston, TX. Steel City Products distributes automotive, lawn and garden, and pet products throughout the United States.

The Bostwick-Braun Company, headquartered in downtown Toledo, OH, is a privately-held wholesale hardware distributor and industrial supplier. It is Toledo’s third oldest business, having opened its doors in 1855. The company has distribution centers located in Ashley, Indiana and Lorain, Ohio.

Bostwick-Braun acquired Steel City Products in an effort to expand its product offering, while attaining a more diverse customerbase. SteelCity Products has consistently been a well run, profitable company and according to Bostwick-Braun, will mesh well with its business.

TX003

LKQ Corporation Acquires Transwheel Corporation

True North advised Transwheel Corporation in the sale of the company to LKQ Corporation. The sale was completed on January 31, 2006.

Transwheel Corporation is an aluminum alloy wheel refurbishing and distribution business. The company operates refurbishing and distribution facilities in Huntington, IN; Manchester, CT; Williamsport, MD; and Tampa, FL and distribution locations in the Detroit, MI and Chicago, IL areas. Transwheel’s third party revenue for 2005 was approximately $28.0 million from the sale or restoration of wheels.

LKQ Corporation is the largest nationwide provider of recycled light vehicle OEM products and related services and the second largest nationwide provider of aftermarket collision replacement products. LKQ operates over 100 facilities offering its customers a broad range of replacement systems, components, and parts to repair light vehicles.

Transwheel has been a long-time client of True North. We have provided strategic advice to Transwheel for several years, identified acquisition targets, twice led them through the process of acquisition, and finally advised them in the sale of the company.

TX002

True North Solutions, Inc. Acquires Cornerstone Solutions, Inc.

True North advised Cornerstone Solutions, Inc. in the sale of the company to True North Solutions, Inc. The sale was completed on April 6, 2005.

True North Solutions (unrelated to True North Strategic Advisors) is a leading information security solutions provider serving both governmental and commercial clients. True North Solutions helps clients manage information security risks through comprehensive, ongoing information security consulting, design, implementation, training and support. Headquartered in Herndon, Virginia, True North Solutions also has offices in Atlanta, New York, Pittsburgh, Cincinnati, and Detroit.

Founded in 1997, Cornerstone Solutions, Inc. is a leading logistics consulting firm specializing in supply chain execution solutions. Cornerstone provides a unique understanding of both distribution processes and technology and provides a full range of solutions for supply chain operations across multiple industries. Their services include operational/logistics planning, compliance services, WMS and RFID readiness assessments, implementation services and supply chain analytics.

Cornerstone boasts an impressive list of customers in the Indiana market and surrounding areas. Their great customer service has helped them develop strong long term customer relations throughout their region. Cornerstone’s Security Services practice provides foundational and emerging security technologies as well as professional services that include Firewall/VPN support 24×7, certified security training, vulnerability assessment and testing, implementation of security applications, security infrastructure integration, and security policy review and development.

TX001

NYX Corporation Acquires National Plastic Products Corporation

True North advised National Plastics Corporation in the sale of the company to NYX Corporation. The sale was completed on November 19, 2004.

NYX Inc. is a market leading minority business provider of automotive interior and under-hood solutions, dedicated to exceeding its customers’ increasing expectations.

National Plastics Corporation specializes in injection-molded automotive plastic parts. The company’s state-of-the-art injection molding facility, which totals 40,000 square feet, is located in Fort Wayne, Indiana.

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