Investments
FrontStreet Managment Group LLC
2010 - present
Platform company formed to acquire specialty niche businesses in the facility services sector.
FrontStreet Facility Solutions
2012- present
FrontStreet Facility Solutions is a leading national, asset-light provider of integrated facility repair and maintenance services. The company manages facility repairs and maintenance for customers with multiple locations in a process that involves vendor selection, price negotiation, dispatch coordination, and billing. The company's capabilities range from day-to-day repairs to refresh retail projects, including planning, design and construction, as well as security services. Front Street utilizes an extensive network of trade
vendors.
Chairman: Jay Gates
CEO: Kristen Bunnell
River Road Waste Solutions, Inc.,
2010 - present
RiverRoad is a provider of asset-light, outsourced, waste logistics solutions. RiverRoad designs and implements waste and recycling programs that divert the waste stream, reduce waste management expenses, and help multi-location customers realize their sustainability initiatives. RiverRoad leverages its purchasing power as a large customer of waste haulers to deliver significant savings to customers and to improve service accountability from vendors.
Chairman: Jay Gates
CEO: Kristen Bunnell
*Oakleaf Waste Management Inc
2003-2007
Oakleaf Waste Management (Hartford, CT) is a leading provider of outsourced waste logistics solutions for customers with multiple locations in the United States, Canada, Mexico and Puerto Rico. The Company serves the retail, restaurant, hospitality, manufacturing and property management industries. It coordinates the removal and recycling of waste for its clients and is one of the largest waste equipment rental providers in North America. Oakleaf offers its customers better pricing by leveraging its significant buying power, "right-sizing" clients' waste spend and providing consolidated and electronic invoicing. The Company's services include: waste hauler contracting, 24-hour customer service, equipment rental, recycling program management, waste pickup scheduling, vendor payment services and audit services. Oakleaf's equipment leasing division rents stationary compactors, containers, balers and other equipment to both commercial businesses and haulers.
Results: Oakleaf completed four major add on acquisitions and grew its revenue and earnings by more than eight times over the life of the investment. Oakleaf was sold to a subsidiary of New Mountain Capital in August of 2007 and is fully realized.
James Barnes
Chief Executive Officer
860-256-2016
*
MPTotalCare Inc
1999-2005
MPTotalCare (Tampa, FL) was a leader in the direct to patient home delivery of medical supplies related to chronic conditions involving Diabetes, COPD, Wound Care and Urological disorders. Under Howard Deutsch leadership, MP TotalCare completed eleven acquisitions between 2001 and 2004, diversifying its revenue base to include products and services for health conditions relating to diabetes, wound care, paralysis, incontinence, and ostomy. HealthScript, Inc., Express-Med, Inc., Medical Holdings, Inc. (DS Medical Inc.) and Gericare Providers, Inc. are just a few of the companies that were part of MP TotalCare's build-up. The MP TotalCare management team focused on creating operating efficiencies, maintaining a diversified business and enhancing customer care in order to create a leading middle-market service business - as well as to navigate through a challenging regulatory and reimbursement environment.
Results: MPTotalCare grew tenfold to approximately $200 million in revenues. Over the same period, the Company's customer base grew from approximately 5,000 in 1999 to over 135,000 individuals in 2005. MPTC was sold to a subsidiary of Warburg Pincus, CCS Solutions in 2005 and is fully realized.
Howard Deutsch
CEO
*LogistiCare Inc.
2004-2007
LogistiCare (Atlanta, GA) is a leader in the non-emergency medical transportation (NEMT) service sector. The company provides transportation services to governmental agencies and other human services organizations that are typically under cost pressures due to the increasing costs of healthcare and declining budgets. State Medicaid programs are required by federal regulation to provide recipients with access to and from medical encounters; however, states are often poorly equipped to efficiently and economically self perform and manage for this mission-critical transportation requirement. State agencies therefore contract with LogistiCare to organize and to manage a credentialed network of local third-party providers to deliver the transportation on an outsourced basis. LogistiCare generally does not own any vehicles, but rather it manages a network of assets as a third-party logistics provider.
Results: Over the life of the investment Logisitcare nearly doubled its revenue and earnings and was sold to Providence Services (PRSC) in December of 2008. The investment is fully realized.
John Shermyen
Chief Executive Officer
Ph: 770 -907-7596
*Towne Air Cargo Inc.
2006 - 2012
Towne (South Bend, IN) is a leading full-service provider of premium air cargo ground logistics transportation services. The Company, which was founded in 1963, operates three divisions: Towne Network Solutions ("TNS"); Towne Air Freight ("TAF"); and Rocket Expedited Services ("Rocket"). The TNS division provides comprehensive outsourced logistics management solutions for the surface cargo needs of international airlines and freight forwarders in the U.S. and Canadian markets. TAF, the Company's largest division, primarily handles airport-to-airport and "last mile" ground transportation of deferred air freight and air cargo. Rocket provides exclusive-use dedicated transportation equipment for customers with time-sensitive transportation needs. The company has expanded into new geographies and grown its service offering over the last three years.
Results: Completed four strategic add on acquisitions and have converted business to asset light model. Continuing to execute organic and acquisition growth strategy.
Tom Downey
CEO
Ph: 574-239-1204
*(Lead Partner responsible for investment while at Charterhouse Group Inc.)