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Company Business Description Investment Thesis

Hospitality Mints, Inc.

Boone, NC
August 2008

Hospitality Mints, headquartered in Boone, North Carolina, is a leading manufacturer of customized, individually-wrapped promotional mints and candies. The core product offering is the iconic, wrapped after-dinner mint that restaurants offer their customers. The company serves more than 10,000 customers across foodservice, retail, and ad specialty channels, reaching restaurants, hotels, resorts, businesses, events, and grocery and party store outlets.

LinCap partnered with the management of Hospitality Mints and has a shared vision for growth across the food service, retail and ad specialty channels through the continued penetration of existing and new customers. The company is pursuing many organic initiatives and will also pursue add-on acquisitions.

Manhattan Beachwear LLC

Cypress, CA
January 2010

Manhattan Beachwear, headquartered in Cypress, CA, is a leading provider of women’s swimwear and beachwear. The company supplies a portfolio of labels to large national department stores, mass merchants and specialty swimwear outlets. Proprietary brands include La Blanca, Maxine, 24th & Ocean, 2 Bamboo and Bikini Lab. Licenses include Kenneth Cole Reaction, Kenneth Cole New York, Hobie, Ralph Lauren, Adidas, Sperry and Trina Turk.

Manhattan Beachwear represents an opportunity for LinCap to leverage its past experience and proven track record of success in niche apparel. The vision is to build on the company’s success with its retail partners to become the leading supplier of women’s swimwear by providing unique design capability and high quality products supported by consistent execution and low cost global supply chain. The company completed the acquisition of Apparel Ventures, Inc. on October 5, 2010. This acquisition brought together two leaders in the swimwear industry.

RANDYS Worldwide Automotive

Everett, WA
May 2015

RANDYS Worldwide Automotive is a national automotive aftermarket provider of highly engineered components under the Yukon and USA Standard brands. The company's main product categories include differentials, ring & pinion and axle products that are generally used to improve the towing and/or traction performance of a vehicle.

RANDYS represents an opportunity for LinCap to capitalize on our experience and success investing in branded automotive aftermarket businesses such as Transtar, Lund Inc., Highland, and America's Body Company. The company will continue to leverage its strong brand and engineering expertise to grow organically through penetration of multiple sales channels and commercialization of new products. In addition to multiple organic growth initiatives, the fragmented nature of the industry is expected to provide multiple add-on acquisition opportunities.

Signature Systems Group

Flower Mound, TX
March 2013

Signature Systems Group, headquartered in Flower Mound, TX, is a designer, manufacturer and global distributor of specialty ground surfaces and coverings such as temporary flooring, event turf and carpet, permanent specialty flooring and industrial matting. The Company sells to a diverse range of domestic and international end markets including oil, gas, mining and construction, special events, stadiums and arenas, sporting and athletic facilities, convention and conference centers and general commercial. The Company has a strong track record of introducing new products and broadening its customer base across existing and new end markets. Signature sells to over 3,000 customers and ships approximately 10,000 orders a year.

LinCap partnered with the founder of Signature to recapitalize the business and expand its market leadership in specialty ground surfaces. The vision is to leverage the Company’s product innovation, new market development and marketing strengths to expand its market position and enter adjacent markets. The Company is a proven acquisition platform that will continue to seek add-on acquisitions that enhance its product breadth and market reach.

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