ONCAP - Operating Companies

BSN SPORTS, Inc. ("BSN")

BSN SPORTS, Inc. (“BSN”), formerly, Sports Supply Group, Inc. was acquired in August 2010 in a take-private transaction led by management, ONCAP and an affiliate of Andell Holdings, LLC. BSN is the leading marketer, manufacturer and distributor of sporting goods and team uniforms in the U.S. and markets via three million direct catalogs, a 50-person telesales team, more than 250 direct sales professionals, over 40 Platinum resellers and a family of company-controlled websites to over 100,000 institutional customers, including schools, churches, camps, colleges, and youth sports programs.

ONCAP was attracted to BSN’s leading market position, strong proprietary and branded product offering, channel and geographic diversification, strong cash flow characteristics, and experienced management team. In partnership with BSN’s management, ONCAP aims to create value at BSN by investing in the company’s industry-leading distribution infrastructure to drive organic growth and through acquisition by consolidating the highly-fragmented institutional sporting goods market.

http://www.bsnsports.com

Caliber Collision Centers ("Caliber")

Caliber Collision Centers ("Caliber") was acquired in October 2008 in a management buy-out led by ONCAP. Caliber is one of the largest non-franchised collision repair operators in the United States with 101 collision centers located in Texas, Arizona, Nevada and Southern California. The company has approximately 2,600 employees and repairs over 200,000 vehicles annually.

ONCAP was attracted to Caliber’s strong cash flow characteristics, leading market position, long-term customer relationships, experienced management team, and standardized operating procedures that result in quicker repair times and higher throughput than its competitors. ONCAP, in partnership with the company’s management, aims to create value at Caliber by expanding in its existing markets, entering new markets and taking advantage of consolidation opportunities in the highly fragmented collision repair industry.

http://www.calibercollision.com

Casino ABS ("ABS")

Casino ABS ("ABS") was acquired in May 2011 from the estate of the Company's founder. Based in Edmonton, Alberta, ABS operates four casinos in Edmonton (2), Calgary and Lethbridge operating, in aggregate, in excess of 2,900 slot machines, 90 table games, 35 poker tables and 40 VLTs along with associated food and beverage and entertainment offerings.

ONCAP was attracted to ABS' leading market position, regional diversification and strong cash flow characteristics in a stable and highly regulated sector with significant barriers to entry. ONCAP, in partnership with the ABS team, aims to create value at ABS by enhancing ABS' service and product offerings while participating in the growth of the Alberta economy.

http://www.casinoabs.com

CiCi’s Pizza ("CiCi’s")

ONCAP invested in CiCi's Pizza ("CiCi's") in June 2007 in partnership with CiCi's management team. CiCi's is the leading pizza restaurant company in the United States featuring an "all you want" format of freshly prepared pizzas, pastas, salads and desserts, all for under $5.00. CiCi's serves more than 80 million guests annually at approximately 560 franchised and corporate owned locations throughout the United States, spanning the Southwest, Midwest and Southeast.

ONCAP was attracted to the Company's strong cash flow characteristics, solid franchise base and unique business model within the Quick Service Restaurant industry. ONCAP, in partnership with management, aims to create value at CiCi's by continuing to grow the concept's franchise base through new unit expansion as well as continuing to leverage the Company's strong brand and unique value proposition.

http://www.cicispizza.com

Davis-Standard Holdings, Inc. (“Davis-Standard”)

Davis-Standard Holdings, Inc. (“Davis-Standard”) was acquired in December 2011 in a management buy-out led by ONCAP. Based in Pawcatuck, Connecticut, Davis-Standard has approximately 800 employees, operates 4 manufacturing facilities in the United States and Germany and has the following primary product lines: Extrusion Coating, Cast Film, Liquid Coating, Blown Film, Sheet, Pipe & Profile, Wire and Cable and Elastomer. Davis-Standard’s global customer base utilizes these systems to manufacture products in a diverse range of end markets including: packaging, medical and personal care, building products, automotive and green markets amongst others.

ONCAP was attracted to Davis-Standard’s leading market position, breadth of technical capabilities, end market and geographic diversity, strong customer relationships and experienced employee base and management team. In partnership with the management team, ONCAP aims to create value at Davis-Standard by investing in the company’s core capabilities and providing the resources necessary to continue to grow the business.

http://www.davis-standard.com

EnGlobe Corp. ("EG")

ONCAP completed its initial investment in Environmental Management Solutions Inc. ("EMS") in March 2006 and subsequently invested additional capital to assist EMS in its acquisition of Biogénie S.R.D.C. in November 2006, its acquisition of Celtic Technologies Ltd. in March 2008 and its balance sheet refinancing in December 2008. To reflect the new focus and outlook for the company, EMS changed its name to EnGlobe Corp. ("EG") in April 2007. On January 13, 2011, ONCAP together with certain management shareholders completed a going private transaction for EG and subsequently undertook a refinancing on February 9, 2011.

EG is a leading international integrated environmental services company specializing in the management of contaminated soils and organic based waste streams, with an emphasis on beneficial reuse. EnGlobe offers cost-effective solutions to municipal, commercial and industrial clients in Canada, the north-eastern United States, the United Kingdom and France through its subsidiaries: Biogénie and Celtic Technologies Limited for site assessment and remediation, GSI Environment Inc. for organic waste management, and Tanknology Canada Inc. for tank testing and calibration.

EG represents an attractive strong cash flow and high-barrier to entry (through facility locations and permits, operational know-how, waste generator contracts, and disposal relationships) platform investment in the environmental services sector. EG possesses significant growth potential through its participation in the growing volumes of contaminated soils and organic waste being increasingly diverted from landfills.

http://www.englobecorp.com

Hopkins Manufacturing Corporation ("Hopkins")

Hopkins Manufacturing Corporation ("Hopkins") was acquired in June 2011 in a management buyout led by ONCAP. Based in Emporia, Kansas, Hopkins manufactures and markets a diverse range of more than 3,400 SKUs across seven primary product categories: Towing Electrical, Winter Care, Automotive Cleaning, Fluid Handling, Storage & Organization, RV Tow Brake and Other Accessories. The company’s products are sold under proprietary brand names that include Hopkins®, Carrand™, SubZero®, BrakeBuddy®, FloTool®, GoGear®, nVISION®, Juice Performance™, Paradise Road™, and Mr. Funnel®, as well as under the exclusively licensed Turtle Wax® brand.

ONCAP was attracted to Hopkins' leading market position, SKU diversification, experienced management team, long-term customer relationships and strong cash flow characteristics. ONCAP, in partnership with the management team, aims to create value at Hopkins by further strengthening Hopkins' product offerings, entering new channels and product categories as well as taking advantage of consolidation opportunities within Hopkins’ various segments in the automotive aftermarket.

http://www.hopkinsmfg.com

Mister Car Wash ("MCW")

Mister Car Wash ("MCW") was acquired in April 2007 in a management buy-out led by ONCAP. MCW is the largest full service car wash chain in the United States, operating 79 car washes and 30 lube shops, in 10 regional markets. The company has over 3,000 employees and washes over 8 million vehicles annually.

ONCAP was attracted to the Company's strong cash flow characteristics, diversified customer base, experienced management team, and proprietary operating system that result in higher throughput and higher margins than its competitors. ONCAP, in partnership with management, aims to create value at MCW by expanding its service offering, entering new markets and consolidating the highly fragmented car wash industry.

http://www.mistercarwash.com

Pinnacle Renewable Energy Group ("Pinnacle")

Pinnacle Renewable Energy Group (“Pinnacle”) was acquired in May 2011 in a transaction led by management, the founding shareholders and ONCAP. Pinnacle currently operates six plants in the interior of British Columbia and supplies over one million tonnes of pellets annually making it one of the largest providers of wood pellets in the world. Wood pellets Pinnacle produces are primarily used by European and Asian utilities to co-fire with coal or to burn in dedicated biomass facilities in order to meet their renewable energy targets.

ONCAP was attracted to Pinnacle’s leading market position, reputation as a strong operator, diversified production base, proximity to a large fibre basket, strong logistics capability, good customer relationships and experienced management team. In partnership with the Swaan family, Pinnacle’s founders, and management, ONCAP aims to create value at Pinnacle by growing its production capacity organically and through acquisitions, improving its security of fibre supply and enhancing the efficiency of its logistics chain.

http://www.pinnaclepellet.com

Armtec Limited ("Armtec")

Armtec Limited was acquired in August 2001 in a management buy-out led by ONCAP. The Company was the leading manufacturer and distributor of high-density polyethylene and steel construction products and engineered solutions for the Canadian civil engineering industry. Armtec focused on applications for the infrastructure, mining, forestry, industrial, residential and agricultural markets and its products included corrugated pipe (polyethylene, steel and aluminum), engineered products (bridge plate and structural plate corrugated steel, bin-type retaining walls, sheet piling, tunnel liner systems and water control gates) and geosynthetics.

Armtec presented ONCAP with a unique opportunity to partner with a strong management team to build upon existing market share leadership in a growing industry. The Company's diverse product offerings, geographic scope and end-markets enhanced Armtec's cash flow generating capability. In addition, Armtec's engineering-focused sales force and broad network of facilities across Canada offered customers exceptional service capability and presented the Company with substantial opportunities to introduce new products and penetrate new markets. ONCAP, in partnership with management, created value at Armtec by investing capital to reduce manufacturing lead time, costs and required working capital investment.

In July 2004, ONCAP and Armtec completed a $90.2 million initial public offering of the Armtec Infrastructure Income Fund. In connection with the IPO, ONCAP divested 100% of its equity stakeand realized a return of approximately 2.1x on its original capital investment.

http://www.armtec.com

Canadian Securities Registration Systems ("CSRS")

Canadian Securities Registration Systems ("CSRS") was acquired in April 2004 in a management buy-out led by ONCAP. CSRS was the largest provider of Personal Property Security Act ("PPSA") registration and search services in Canada. The Company specialized in registering PPSA charges on assets, conducting PPSA searches and registering securities under the Bank Act. CSRS' customer base includes financial institutions and auto acceptance and leasing companies in Canada.

ONCAP was attracted to this investment opportunity by the Company's reputation, proprietary technology, leading market position, national infrastructure and experienced management team. ONCAP, in partnership with management, created value at CSRS by reducing operating costs, acquiring a strategic asset in Quebec, expanding the customer base and improving the Company's pricing structure.

In March 2006, ONCAP completed the sale of CSRS to Resolve Business Outsourcing Income Fund ("Resolve"). The transaction valued ONCAP's ownership stake in CSRS at approximately 3.4x the original capital invested in April 2004. Concurrently with its acquisition of CSRS, Resolve completed an initial public offering of income trust units. ONCAP received cash proceeds for the majority of its interest in CSRS and retained a minority ownership stake in Resolve. In September 2009, ONCAP sold its remaining interest in Resolve.

CMC Electronics Inc. ("CMC")

CMC Electronics Inc. - formerly Canadian Marconi Company - was acquired in April 2001 in a management buy-out led by ONCAP. CMC was a world-class leader in the design, manufacture, sales and support of high technology electronic products and systems for the military and commercial aviation markets. The Company supplied products and systems to major defense contractors and subcontractors, government agencies, major North American and international commercial airlines and other commercial customers. CMC's principal operating facilities are located in Montreal, Quebec (corporate headquarters); Ottawa, Ontario; and Sugar Grove, Illinois.

CMC provided ONCAP with the opportunity to build a dynamic aerospace and defense electronics business by leveraging the Company's well-known reputation, leading technologies, strong market positions, significant cash flow and talented management and employees. As part of the business plan developed by CMC and ONCAP, CMC divested non-core assets and acquired businesses that augmented the company's core aviation, infrared and space electronics units. CMC also enhanced its operating performance through aggressive internal initiatives such as improving working capital utilization, research and development effectiveness and production process efficiency.

In March 2007, ONCAP completed the sale of CMC to Esterline Technologies Corp. (NYSE: ESL) for approximately $392 million, which together with previous distributions received from CMC, represents a multiple of 4.2x ONCAP's investment.

http://www.cmcelectronics.ca

CSI Global Education Inc. ("CSI")

CSI Global Education Inc. ("CSI") was acquired in January 2006 in a management buy-out led by ONCAP. CSI, Canada's leader in financial education and testing services, provides a comprehensive range of educational solutions and custom training programs to enhance the knowledge and skills needed for a career in the securities and financial services industries. CSI is endorsed by the Investment Industry Regulatory Organization of Canada (IIROC), Canada's stock exchanges and provincial commissions and its courses serve as requirements to sell securities in Canada.

ONCAP was attracted to this investment opportunity by the company's brand name, reputation, extensive course offerings, national infrastructure and experienced management team. ONCAP, worked in close partnership with CSI's management team to successfully grow the business both domestically and abroad, by expanding course offerings, delivering new services, entering new markets and consolidating the fragmented Canadian financial education space.

In November 2010, ONCAP sold CSI to Moody's Corporation in a transaction valued at approximately $155 million. With previous distributions and proceeds from the sale of the company, ONCAP achieved a return of approximately 5.8x on its capital investment.

http://www.csi.ca

Ensource Energy Services Inc. ("Ensource")

In 1999, ONCAP identified an opportunity to build value in the highly fragmented Canadian oil, gas and distributed power service sectors by facilitating an industry consolidation. ONCAP acquired and merged two private energy service companies to create Ensource. Subsequently, ONCAP grew Ensource through a series of strategic acquisitions including in 2000, Enhanced Energy Services, a publicly-traded company focused on small horsepower natural gas compression.

In 2002, ONCAP merged Ensource with publicly-traded Enerflex Systems Ltd. [TSX:EFX], a global provider of natural gas compression and power generation equipment and services. Following the merger, ONCAP's interest in the combined entity amounted to approximately 9.8%. The combined operations of the two companies created a diversified oil and gas service company with the global capability to provide customers with a "one-stop shop" for services and equipment in the production and processing of crude oil and natural gas.

In 2003, ONCAP sold its interest in Enerflex through the public markets and realized a return of approximately 2.0x on its original capital investment.

Futuremed Health Care Products L.P. ("Futuremed")

Futuremed Health Care Products L.P. ("Futuremed") was acquired in February 2004 in a management buy-out led by ONCAP. Futuremed was Canada's leading supplier of medical supplies and equipment to long-term care ("LTC") facilities. Products distributed ranged from nursing and incontinent supplies to furniture, equipment and mattresses. In total, the Company distributed more than 5,400 products, the majority of which were disposable and recurring purchases in nature.

Futuremed presented ONCAP with the opportunity to partner with a strong management team to participate in the rapid demographic growth of the LTC industry and the requirement for increasing government expenditures to deliver acceptable service levels at LTC facilities. ONCAP, in partnership with management, created value at Futuremed through the pursuit of complementary niche markets such as the physician and dental sectors.

In January 2006, ONCAP and Futuremed completed a $120 million initial public offering of the Futuremed Healthcare Income Fund. In connection with the IPO, ONCAP divested 100% of its equity stake and realized a return of approximately 4.0x on its original capital investment. In September 2006 ONCAP was awarded the Deal of the Year Award by the Canadian Venture Capital and Private Equity Association in recognition of the Futuremed investment.

http://www.futuremed.ca

WIS International ("WIS")

ONCAP and management acquired Western Inventory Service Ltd. ("Western") in March 2003. The company provided customized inventory counts, inventory consulting, information management and retail price verification to the retail and industrial sectors. Western was Canada's largest inventory verification company and operated through a network of offices across Canada. It had also recently begun to offer services in the eastern United States.

In April 2005, with the assistance of ONCAP, Western acquired Washington Inventory Service ("Washington"). Washington was one of two national providers of inventory verification services to retailers in the United States. In addition, Washington provided inventory verification services in Mexico, South America, Europe and Asia and retail merchandising services to major consumer product manufacturers in the U.S. The combination of the two companies created WIS International ("WIS"), the 2nd largest inventory service provider in the world with 200 offices throughout North and South America, Europe and Asia.

In January 2007, ONCAP completed the sale of WIS International. In connection with the sale, ONCAP divested 100% of its stake in the business and realized a return of approximately 8.1x on its capital investment.

http://www.wis.ca