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Virginia Capital Partners Brochure

Virginia Capital Partners Brochure



Virginia Capital Partners, a Richmond Virginia based private equity and venture capital firm, updated their brochure.

Virginia Capital Partners, a Richmond Virginia based private equity and venture capital firm, updated their brochure.



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    Virginia Capital Partners Brochure Virginia Capital Partners Brochure Presentation Transcript

    • 2He who is not courageousenough to take risk willaccomplish nothing in life. — Muhammad Ali
    • 3VIRGINIA CAPITAL PARTNERS provides capital and expertise to help entrepreneurs buildsuccessful companies. Our $50 million fund is provided by blue-chip financial firms, leadingcorporations and major endowments, including: Wells Fargo, Bank of America, BB&T, Sun Trust,Verizon, American Electric Power, and the Virginia Retirement System. Our investment partnershave entrusted their capital to us until 2040. Because our funding is virtually permanent, we haveno near-term need for liquidity. Our portfolio company partners have the freedom to realizeliquidity when the timing is right from both the company’s and the capital markets’ perspective.VCP’s role is to support our management partners as they implement their vision. Ourmanagement partnerships are carefully chosen and have resulted in exceptionally high executiveretention. Across more than 30 different portfolio companies, management turnover is virtuallyzero.If you have opportunities or ambition greater than your current resources,contact one of our partners.
    • 4 The best way to predict the future is to create it. — Peter Drucker
    • 5CORE PRINCIPLESOur goal is to own an interest in a truly unique business run by outstanding people.Along with patient capital, we offer our portfolio companies:Considerate advice No outside involvementLike thoughtful dinner or party guests who pitch Our partners manage all of our portfolioin when their host needs assistance, we are here company relationships. We don’t rely on outsideto help at your request. consultants or advisors.Management continuity FlexibilityWe want to be a trusted advisor on key financial We tailor each investment and don’t have anyand strategic decisions, but we leave day- minimum ownership requirement.to-day operations to our portfolio companymanagement teams. Our management team Confidentialitypartnerships have worked remarkably well — All shared information is held in strictexecutive turnover is virtually zero. confidence. We are a private organization and have no public disclosure requirements.Long-term perspectiveOur time horizon is much longer than most Ownership cultureprivate investors. We have no exit strategy. On average, our managing partners invest twice as much in our portfolio companies than theGrowth typical private equity fund.We rely on growth, not leverage or financialengineering, as the key to our success. Ourcompanies are debt averse.
    • 6I never did a day’s workin my life. It was all fun. — Thomas Edison
    • 7INVES TMENT FOCUSWe invest in growing businesses where our capital will accelerate growth and improve profitability.We prefer to partner with companies that are close to our office. We have no industry or stage ofdevelopment restrictions. A sampling of our investment experience includes: business services,media and communications, consumer services, healthcare, and insurance.Virginia Capital invests in companies at all stages of development from a new start-up to expansionof an existing business to the acquisition of an established company.Our portfolio companies share many common traits. Specifically, we focus on the followingelements:■ Experienced and results-oriented management■ Scalable business■ Opportunity for sustained growth of 15% to 20% per annum■ Sustainable competitive advantageVirginia Capital will invest from $1 million to $5 million per company; together with affiliates wecan consummate $20 million transactions. We are usually the first institutional investor and often thesole investor.
    • 8 Do not go where the path leads, go where there is no path and leave a trail. — Ralph Waldo Emerson
    • 9WHY VIRGINIA CAPITAL?HERITAGE OF SUCCESS PARTNERSHIPCollectively, our portfolio represents one of the We are a trusted and reliable partner. Unlike otherlargest privately held companies in the South firms that are also involved in investment banking,Atlantic region, with more than 2,000 employees, lending or consulting, we are solely focused on$1 billion in revenues and more than $1 billion in private investing. Because this is all we do, weassets. have no other motivations or interests beyond our portfolio companies’ long-term success.Over the last 15 years we have invested in 33companies in a variety of industries. These PERMANENT CAPITALoutstanding management partners have used our We have no exit strategy. Because our funding iscapital to build tremendous value for themselves virtually permanent, we have no need for liquidity.and our investors. We have sold our investment We are content to wait until conditions are optimal.in 19 of our portfolio companies generating anaverage return on investment of nearly 28% per When the time is right, we have developed aannum. These exceptional returns resulted from superior process to realize the maximum all-cash,the marriage of sound business plans, outstanding after-tax value with the least downside exposure.management talent, superior execution and a Having consummated dozens of sales and severalcarefully chosen exit when the time was right for the IPOs, we know how to run the most effectivecompany and the market. process to obtain the maximum after-tax proceeds on the best possible terms.
    • 10 Control your own destiny or someone else will. — Jack Welch
    • OUR TR ACK RECORD 11Since 1996, we have invested in 33 portfolio companies, and of these, have successfully exited 19. Ourcash-on-cash returns are 28% per annum. We believe our genuine focus on helping each of our companiessucceed is a unique quality fueling these results. Collectively, our portfolio represents one of the largestprivately held companies in the South Atlantic region with more than 2,000 employees, $1 billion in revenues MEDIA & COMMUNICATIONS MedIQ provides continuing medical Shared Tower Sites develops, BioInformatics owns and education (CME) services to doctors acquires, owns and operates a operates the Science Advisory nationwide. The Company partners portfolio of wireless communication Board, the largest online market with major academic health care towers. Virginia Capital co-founded research panel of physicians and institutions and other leading Shared Tower Sites and raised scientists. The company gathers research organizations to provide additional equity during the market information and publishes timely and thorough CME content to telecommunications collapse in proprietary research to the life physicians. 2002. STS was sold to a strategic sciences industry, including: investor in 2005. biotech equipment suppliers, Wireless Partners acquires, pharmaceutical companies, develops, and operates wireless Virginia Telecomm Towers investment companies and venture communication towers. The acquires, develops, and operates capital funds. company was sold in 2007. wireless communication towers. Virginia Capital co-founded Clear Signal Towers develops and Physicians Practice is the second- VTT. The company was sold to a operates wireless communication largest physician journal in the strategic acquirer in 1998. towers to enable mobile service United States. The magazine is co- providers to fulfill the near branded with 40 major university insatiable demand for wireless hospitals, including: Harvard, bandwidth for the “mobile internet Yale, the University of Virginia and tsunami.” Virginia Capital co- the University of North Carolina. founded CST with a seasoned Physicians Practice was sold in tower entrepreneur. 2007 to a strategic buyer.
    • 12 Virginia Business Publications produces Virginia Martha Mills acquired an 80-year-old textile mill and Business magazine a 25 year old statewide business is in the process of reclaiming the heart pine lumber, publication providing monthly insights to Virginia steel and bricks in an environmentally friendly manner. businesses and government leaders. Virginia Capital partnered with the publisher to purchase the Mid-Atlantic Dairy Queen owned the largest chain magazine in 2009. of Dairy Queen restaurants in the Mid-Atlantic. Two of the company’s twelve restaurants were consistently Southeast Business Media produces SC Biz magazine ranked among the leading revenue producers in the and Charleston Regional Business Journal, Columbia entire 6,000 International Dairy Queen restaurant Regional Business Report and GSA Business bi- system (owned by Berkshire Hathaway). Mid-Atlantic weekly business journals in South Carolina. Virginia Capital partnered with the publishers to purchase DQ was sold in 2008 to its management. these publications in 2010. Sewickley Partners acquired 5,000 acres of BUSINESS & CONSUMER SERVICES timberland. Virginia Capital partnered with a American Exposition Centers acquired, developed, experienced forester and lumber mill to purchase owned and operated flea markets in the southeastern these assets from an institutional investor. United States. The company was sold to a financial buyer in 2007. Smith-Midland Corporation produces a variety of pre-cast concrete products including sound walls, Car Pool is one of the largest full-service car wash highway barriers, utility buildings and architectural chains in the U.S. The company owns and operates facades. Smith-Midland is publicly-traded (ticker: seven locations in the Richmond metropolitan area, SMID). provides professional detail services and is a 30-year- old brand with one of the most widely recognized Storage Management owned and operated self- commercial names in its market. storage facilities. The company was sold in 2005 to its management.
    • 13HEALTH CARE was sold to a financial buyer in 2001 for more than $100Aptiv Solutions is a clinical research organization founded million.by members of the PRA International management team.Aptiv specializes in adaptive clinical trials focusing on Health Care Partners is a specialty health care REIToncology, cardiovascular, dermatology, gastro-intestinal, and leasing company. Virginia Capital co-foundedand respiratory diseases. the company with a group of proven health care entrepreneurs.HemoShear makes a human surrogate testing device thatreplicates the anatomical structure of the human blood INSURANCEvessel wall and blood flow patterns, providing superior Front Royal was a leading specialty property andpre-clinical drug response data to what is currently casualty insurance company before its sale to aavailable through traditional cell culture and animal strategic buyer in 2001 for $165 million.testing processes. James River Group is a specialty property and casualtyHunt Assisted Living built one of the largest portfolios of insurance company with a focus on the excess andassisted living facilities in the Mid-Atlantic region before surplus lines segment founded by key membersits sale to a strategic buyer in 1999. of Front Royal’s management team. The company completed its initial public offering in 2005 and wasInnotech manufactures proprietary equipment and sold to a Bermuda-based reinsurance company forsupplies used to make multi-focal lenses. Innotech over $570 million in 2007.completed its initial public offering and was subsequentlypurchased by Johnson & Johnson for $134 million cash. Kinsale Capital Group was formed as a start-up in 2009 by a group of seasoned property and casualtyPRA International tests the safety and efficacy of new executives to take advantage of the dislocations in thedrugs for major pharmaceutical companies and is one of insurance industry.the largest clinical research organizations in the U.S. PRA
    • 14 THE PAR TNERS FRED RUSSELL with a $1 billion private equity firm. He was also a Managing managing partner Director in a health care services company, which he helped to build into a $70 million revenue business. Fred has been Managing Partner at Virginia Capital Partners since its inception Fred has lectured on entrepreneurship and private capital in 1996. He serves on the Board of all of markets at the Wharton School, the University of Virginia’s Virginia Capital’s active investments and McIntire School of Commerce, and the Darden Business has more than 25 years of private equity experience. Fred School. A Charlottesville native, he attended the University has invested in more than 40 private companies. He was an of Virginia and graduated from the McIntire School of investor in three companies that subsequently completed their Commerce. After finally leaving the nest, he studied in IPO. Fred has also been active in the sale or IPO of companies Philadelphia where he earned his MBA from the Wharton with a combined enterprise value of more than $2 billion. School. Fred has invested in companies at all stages of development: Fred lives in Richmond with his wife, Susan, and their three from start-ups to buyouts. He has extensive experience in children aged 21, 19 and 17. Fred is passionate about being health care, media and communications, consumer, insurance on the water, fly fishing, hunting upland birds and finding a and environmental industries. Fred was previously a Partner cure for Juvenile Diabetes.
    • 15 TOM DEARDORFF Tom has invested in more than a dozen private companies partner and closed over a dozen follow-on acquisitions. He has been active in the sale or IPO of 10 private companies with a combined transaction value of nearly $500 million. Tom has worked at Virginia Capital Partners since its inception, starting as Before joining Virginia Capital, Tom worked with an an Associate and working his way up environmental service firm and began his career at a to Partner and Managing Director. He boutique investment-banking firm. He received his has invested in companies at all stages undergraduate degree from Tulane University and liked itof development including start-ups, expansions, and so much he stayed on and earned his MBA there as well.acquisitions. Tom serves on the Boards of most VirginiaCapital portfolio companies and has extensive experience Tom grew up in Decatur, Illinois and is passionate aboutin the health care, media and communications, consumer, staying fit, hunting and fishing.insurance, and environmental industries.
    • 16 THE INVES TMENT TE AM MATT AUSTIN managing director Matt joined Virginia Capital in 2002 and became Managing Director in 2007. He currently serves on the Board of three portfolio companies. Prior to joining our team, Matt worked with BB&T Capital Markets, an investment-banking firm in Richmond, Virginia, where he was responsible for analysis and valuations for mergers and acquisitions and other corporate finance transactions. He has lectured on corporate finance and private equity matters at the McIntire School of Commerce and at James Madison University. Matt has also passed the Series 7 Exam and previously worked with a Registered Investment Advisor, where he managed money for high net worth clients. Matt received his undergraduate degree with distinction from the McIntire School of Commerce at the University of Virginia. He currently lives with his wife and twins in suburban Richmond. Matt is a board member of the National Multiple Sclerosis Society - Central Virginia chapter and serves as an usher and a member of the finance committee at Woodlake United Methodist Church.
    • 17 HUGH AARON senior advisor, healthcare Hugh joined Virginia Capital in 2009 as Senior Advisor, Healthcare. Hugh is a serial health care entrepreneur.In 2006 he sold a national training firm focusingon healthcare regulatory compliance to a privateequity backed buyer. Hugh held a variety ofmanagement positions within the health careindustry including Regional Operations Directorfor a national medical practice managementfirm. Although retired from private practice,Hugh is a licensed attorney who formerlypracticed health law with McGuire, Woods,Battle & Boothe.Hugh earned his Juris Doctor degree (cumlaude) from the University of Richmond, aMaster of Health Administration degree fromthe Medical College of Virginia and a Bachelorof Business Administration degree fromChristopher Newport College. Hugh teaches atthe University of Richmond School of Law andat Virginia Commonwealth University (MedicalCollege of Virginia Campus).A Virginia native, Hugh lives in Hanover Countywith his wife and son. He is an avid cyclist,sailor and scuba diver.
    • 18 CHRIS HUTTER senior associate Chris joined Virginia Capital in 2007 after serving as CFO and General Manager of Hutter Wholesale Hardware, a Colorado- based designer’s architectural hardware showroom and distributor. Prior to this experience, he was Director of Merchandising and Logistics for Duck Head Footwear, a global-branded footwear supplier based in Lynchburg, Virginia. Chris received his MBA with a concentration in Finance from the University of Richmond. He is a graduate of Hampden-Sydney College where he double majored in German and Mathematics with a concentration in Computer Science. Chris is a 2010 Level III CFA candidate. A Lynchburg native, Chris now lives in Richmond with his wife and two young children. Like most of the Virginia Capital team, Chris enjoys a wide range of outdoor activities and also loves to spend time playing with his children.
    • We enjoy meeting CEOs of growing companies,even if there isn’t an imminent need for capital,and we are happy to meet without any writtenmaterial or agenda. To ensure confidentiality,we have no problem signing commerciallyreasonable non-disclosure agreements inadvance of our discussions. Even if our meetingdoesn’t result in a transaction, we can oftenprovide advice or direct you to other morespecialized resources.If you have opportunities or ambition greaterthan your current resources, and you are curioushow private equity can help you achieve yourgoals, contact us today. Please visit our websitefor up-to-date information. 1801 Libbie Avenue, Suite 201 Richmond, Virginia 23226 Ph (804) 648-4802 Fx (804) 648-4809 www.vacapital.com