Investments

The principals of Brockway Investors have invested in a variety of middle-market companies over the past 30 years. The investments have focused on growth-oriented companies in diverse industries and geographies across the United States. Investments include:

TTM Technologies, Inc. (NASDAQ: TTMI), is a leading provider of time-critical and technologically advanced printed circuit boards with the ability to provide customers with a “one-stop” solution from the prototype and quick-turn stage through high complexity volume production.

TTM was created through the acquisitions of Pacific Circuits, Inc. in December 1998 and Power Circuits, Inc. in July 1999. The purchase of Power Circuits, completed just seven months after the original acquisition, represented the number one add-on acquisition target for Pacific Circuits and provided immediate realization of a one-stop strategy.

Following the integration and expansion of the combined companies, TTM was taken public in September 2000 in a highly successful initial public offering, followed by a secondary offering in February 2002. In December 2002, TTM acquired Honeywell’s Advanced Circuits operation which strategically complemented existing operations by providing TTM with very high technology capabilities and specialty materials expertise — further cementing TTM’s expanded product offerings and competitive advantages achieved over a six-year investment horizon.

Crisis Prevention Institute, Inc. (“CPI”) is an international training organization committed to best practices and safe behavior management methods that focus on prevention. The company has developed and delivers the world’s leading program to de-escalate moments of crisis through a mix of instructor-led, online and ‘on demand’ resources. CPI has approximately 28,000 active Certified Instructors who train over 1,000,000 of their colleagues across 16,000 facilities.

Over a five-year investment period concluding in 2016, CPI enjoyed consistent double-digit revenue growth. During this time, CPI hired a Chief Revenue Officer, expanded its inside sales team, and built a business development team focused on strategic sales. Simultaneously, significant investments in enhanced learning materials and eLearning capabilities were executed. Over the five-year investment period, CPI strengthened its market leadership position as the preeminent organization in non-violent crisis intervention training worldwide.

MD Now Medical Centers, Inc. is the largest operator of full-service, walk-in urgent care centers in the South Florida market.  The company offers a patient-friendly, differentiated healthcare alternative by providing high-quality, convenient, timely and affordable medical treatment for non-life-threatening injuries and illnesses.

Over a six-year investment period concluding in 2018, MD Now dramatically expanded its footprint in South Florida growing from 6 to 42 locations open or soon to open at the time of our sale. In addition to establishing MD Now as the leading urgent care provider in the South Florida market, over this same time period, the company strengthened its management team, its IT infrastructure and created a customized site scoring model to benchmark clinic performance.

Also during the six-year investment period, MD Now re-imagined and standardized the brand and the company’s marketing approach and messaging through the use of all media channels, including broadcast and print media, social media and internet marketing.

Gold’s Gym International, Inc., at the time of the investment in the late 1990’s, was the most-recognized fitness chain, as well as the leading franchisor of gyms, in the world.

Over the next five years, Gold’s Gym was transformed from an entrepreneurial to a professionally managed organization. During this time, Gold’s Gym significantly expanded its corporate-owned locations, through both acquisition (acquiring 32 gyms through 12 separate transactions) and the construction of five greenfield facilities.

Gold’s Gym also enhanced its franchising operations by strengthening standards for gyms, improving in-store branding, and expanding training systems for its franchisees. Similarly, the quality of Gold’s Gym licensing program and products was substantially enhanced over this five-year time frame.

Air Medical Group Holdings LLC is a leading air ambulance services provider. It offers patients high-caliber medical care and transportation from rural medical locations and accident scenes to sophisticated medical centers during the critical first hour following an accident or medical emergency.

Air Medical also has the largest air medical membership program in the United States. Following an investment in 2003, the company’s service area and operations were significantly expanded and diversified through a balanced mix of internal and external initiatives across the company’s multiple growth levers.

From an internal growth perspective, Air Medical opened 49 greenfield locations, achieved strong same-base revenue growth, and expanded its membership program. From an external growth standpoint, the company added 61 bases through 13 add-on acquisition and conversion transactions. The result over a six-year investment time period was a near quadrupling of bases, adding 110 locations to the initial 37 bases, while expanding from 9 states to 25 states.

Cosmetic Essence, Inc. (“CEI”) is a leading provider of outsourced formulating, manufacturing, filling, packaging, and distribution services to the personal care products industry.

The Company manufactures cosmetics and health and beauty care products, such as fragrances, crèmes, lotions and color cosmetics, for a diversified base of leading branded marketers and retailers. Following an investment in 2001, CEI was transitioned from an entrepreneurially run to a professionally managed organization over an approximate four-year investment period.

To accomplish this, the Company recruited leading executives, including an outstanding COO and CFO, as well as other senior executives with substantial industry experience. Management executed upon the strategic plan that had been established at acquisition and the company accomplished four strategic add-on acquisitions in less than two years.

These acquisitions diversified CEI’s capabilities into color cosmetics, secondary packaging, and licensed products, as well as further strengthened the Company’s relationships with its customer base.

Norwesco, Inc. is the largest manufacturer of rotationally molded polyethylene tanks in the world. It primarily serves the agricultural and septic tank markets where it is the dominant provider of such tanks.

Over the 13-year investment period beginning in the early 1990’s, Norwesco expanded aggressively with the construction of five manufacturing plants, including the company’s largest manufacturing facility, while also completing five complementary add-on acquisitions in the U.S. and Canada.

Through these initiatives, Norwesco grew from 5 to 14 manufacturing plants and established a coast-to-coast presence within its core North American market, while further strengthening its leadership position and expanding into new industrial markets.

MW Industries, Inc. is a leading provider of highly engineered springs, fasteners, and other precision components supplying niche-oriented product solutions to diverse and highly attractive end markets.

The company serves a broad industrial customer base of blue-chip companies across its 13 operating divisions in the U.S. through both its direct sales force and industry-leading catalogs. Over a five-year investment period, concluding in 2011, MW Industries further integrated its business platform by creating a national sales force, fostering sharing across divisions, and establishing a multi-channel sales strategy to more fully address the market.

MW Industries effectively managed through the economic downturn in 2008 and 2009, positioning the company extremely well for the rebound. Also, during this time, MW Industries completed two add-on acquisitions while developing a highly strategic acquisition pipeline.

TTM Technologies, Inc. (NASDAQ: TTMI), is a leading provider of time-critical and technologically advanced printed circuit boards with the ability to provide customers with a “one-stop” solution from the prototype and quick-turn stage through high complexity volume production.

TTM was created through the acquisitions of Pacific Circuits, Inc. in December 1998 and Power Circuits, Inc. in July 1999. The purchase of Power Circuits, completed just seven months after the original acquisition, represented the number one add-on acquisition target for Pacific Circuits and provided immediate realization of a one-stop strategy.

Following the integration and expansion of the combined companies, TTM was taken public in September 2000 in a highly successful initial public offering, followed by a secondary offering in February 2002. In December 2002, TTM acquired Honeywell’s Advanced Circuits operation which strategically complemented existing operations by providing TTM with very high technology capabilities and specialty materials expertise — further cementing TTM’s expanded product offerings and competitive advantages achieved over a six-year investment horizon.

Crisis Prevention Institute, Inc. (“CPI”) is an international training organization committed to best practices and safe behavior management methods that focus on prevention. The company has developed and delivers the world’s leading program to de-escalate moments of crisis through a mix of instructor-led, online and ‘on demand’ resources. CPI has approximately 28,000 active Certified Instructors who train over 1,000,000 of their colleagues across 16,000 facilities.

Over a five-year investment period concluding in 2016, CPI enjoyed consistent double-digit revenue growth. During this time, CPI hired a Chief Revenue Officer, expanded its inside sales team, and built a business development team focused on strategic sales. Simultaneously, significant investments in enhanced learning materials and eLearning capabilities were executed. Over the five-year investment period, CPI strengthened its market leadership position as the preeminent organization in non-violent crisis intervention training worldwide.