Accscient provides IT Staffing, Consulting, and Outsourcing services and specializes in Digital Infrastructure Management, Enterprise Resource Planning, Business Intelligence and Database Administration. Through its operating businesses (i) Norwin Technologies (ii) Premier IT Solutions and (iii) Appridate Solutions, Accscient provides these services to its diverse customer base by leveraging a global delivery platform, led by a seasoned management team, to ensure reliable, proven and innovative solutions. Accscient is basedin Atlanta, GA and was founded in 2005.
Agility is a leading healthcare provider in the United States devoted to the rehabilitation of patient physical injuries and conditions. Agility operates a multi-state network of outpatient rehabilitation clinics and provides contracted services to hospitals, nursing homes and other institutional clients, providing care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and a variety of other injuries and conditions. In addition, Agility provides a number of ancillary services related to physical rehabilitation, including practice management software systems and custom orthotics. Agility Health operates 74 outpatient or onsite rehabilitation locations in 17 states. Agility contract therapy services business provides rehabilitative services to 41 hospitals and inpatient rehabilitation units, 36 nursing homes, long-term care facilities and other service locations in 9 states. Agility's customers are individual's payers as well as referrals from third party's such as insurance companies or physicians. Agility will continue to benefit from the aging U.S. population and the increasing popularity of physical therapy services as a first step treatment option.
C & C Communications
With headquarters in Federal Way, Washington, C&C Communications, LLC ("ccComm") is a Sprint Preferred Retailer. ccComm is committed to providing Sprint shoppers superior customer service. ccComm has grown to over 50 retail locations throughout Washington, Oregon, Oklahoma, Texas and Utah. Established in 2007 by Robert and Larry Culp, ccComm provides a best-in-class shopping experience. ccComm’s knowledgeable, helpful and friendly employees take great pride to assist in purchasing new phones and accessories, and to provide support with billing questions and wireless plans.
DNT specializes in turnkey civil construction services to residential, commercial and municipal end markets including excavation, the installation of wet and dry utilities such as electrical, gas, sewage and water as well as paving and the building of retaining walls. DNT has strong functional capabilities and believes it is the only company in its core markets capable of providing these turnkey infrastructure solutions to its customers. With its head office in Austin, Texas, DNT employs over 650 people during peak season and is one of the largest service providers of its kind in the Austin market while also holding significant market share in San Antonio. These markets are attractive, fast growing and have diverse economies with major industry employers including healthcare, government, technology and education. Both Austin and San Antonio have strong employment rates and significant job growth at rates above the National average. These, among other factors, have placed both markets as amongst the most desirable for commercial and residential development. DNT’s management team has a wealth of experience in their industry and have developed a platform for success in all economic conditions including the fact that a majority of their cost structure is variable in nature and that their balance sheet is free of amortizing debt.
End of the Roll
End of the Roll is Canada's largest dedicated flooring retailer. End of the Roll was incorporated in 1990 and began offering franchise locations in 1994. The discount renovation market is relatively stable compared to the new home market due to the nature of the purchase and the amount of the average sale. Currently, End of the Roll collects franchise royalties from over 50 franchisees nationwide. End of the Roll targets "budget minded" customers who prefer to purchase in smaller quantities and coordinate private installation in order to save on the costs of using a full service retailer.
Federal Resources is a Maryland based leading value-added provider of mission critical products and solutions to defense, first responder, homeland security and maritime end users. Federal Resources is a leading provider of detection and protection equipment to first line responders dealing with chemical, biological, radiological, nuclear and explosive (“CBRNE”) threats, as well as supplying tactical gear, tools and maritime products. Federal Resources management believes that the CBRNE product category is one of the highest growth product categories in the defense procurement budget with potential CBRNE attacks representing the most widely anticipated global threat for the next 10 years. Federal Resources was founded in 1986 and employs 150 people.
Kimco and its predecessor companies have been providing route based commercial janitorial services throughout the United States since the 1970's. The four key owners/executives of Kimco have over 120 years of combined industry experience as well as significant ownership in Kimco, thus creating a strong alignment of interest with Alaris and management continuity. Management of Alaris believes that Kimco is one of the largest businesses in a highly fragmented industry, which is estimated by management to generate over $50 billion in annual sales in the United States. Kimco is one of only a small group of businesses in this industry that operates on a national scale. Services are provided in three business segments: commercial/retail, hospitality and malls. The majority of Kimco’s revenue is generated under long-term contracts (generally 1 to 3 years). Kimco services more than 375 customers, which range in size from multi-location national customers to regional single site customers.
Located in Kitchener, Ontario, Labstat was established in 1976 and has grown to become one of the largest independent third party tobacco testing companies in the world supporting regulatory testing and research. Labstat tests all forms of tobacco products including cigarettes (mainstream and side stream tobacco smoke), whole tobacco, snus and smokeless tobacco as well as the anticipated testing of electronic cigarettes. Labstat has carried out over 100 Health Canada projects and wrote and validated all 45 of the sanctioned tobacco smoke testing methods for Canada; the first country to implement tobacco regulation. These testing methods are now considered to be the worldwide model for tobacco testing regulation. The senior management team of Labstat is comprised of industry recognized scientists and technical staff, who collectively have over 120 years of experience in the industry. Labstat employs between 130 and 160 staff during its peak business. Labstat provides tobacco chemistry and toxicology testing services for tobacco manufacturers, governments, and public and private entities alike. Labstat is a global business with customers in North America, Europe, South America, New Zealand and Asia.
"Labstat had a history of capitalizing its business with funds secured through the Canadian and U.S private equity markets. In 2011, when its majority shareholder indicated that its investment fund would be closing, Labstat once again found itself in the market for a recapitalization transaction. In this transaction the founding shareholder, Dr. William Rickert, along with the management shareholders were looking for an investment partner whose interests, including investment timeline, would be aligned with a view to supporting the long-term growth of the Company.
Labstat’s founder and management shareholder’s considered other financing options but were seeking an investment partner that would allow management to control the strategic direction of the Company. While private equity investors expressed interest in Labstat’s cash flow and long-term prospects, such investments would require a control position for the private equity investor. Further, the private equity market was unappealing to the founding and management shareholders as the Company wished to stabilize its capital structure rather than facing the potential of having to return to the private equity market every three to five years when timing of future transactions may or may not be favorable.
The Alaris proposal to create a partnership with Labstat was ideal as the financial contribution made by Alaris together with financing provided by Labstat’s senior lender allowed the Company’s Founder to acquire control of the common equity of the Company. Further attractive deal points included: Alaris’ long term investment strategy, lower than private equity return expectations, and distributions which increase or decrease based on revenue performance.
After careful consideration, it was with pleasure that Labstat’s founder and management team selected Alaris as its long-term capital partner."
- Kimberly Stevenson Chow, Chief Financial Officer, Labstat International ULC
LMS Reinforcing Steel Group
LMS is Western Canada’s leading concrete reinforcing steel (rebar) fabricator and installer also providing post tensioning, trucking and crane services. As an installer and supplier, LMS has the advantage of having low fixed costs and fixed assets, which allows the company to be profitable during various negative economic scenarios, as it can adjust its labour force to match the activity level. LMS fabricates and installs concrete reinforcing rebar and post tensioning services for construction projects primarily in British Columbia, Alberta, Saskatchewan, and Manitoba. Project types include; (i) Infrastructure Projects - light rail transit, water treatment plants, tunnels, hydro facilities and bridge decks; (ii) Commercial projects - high rise office space, aquatic centers or airport terminals; (iii) Residential - high rise developments; and (Iv) Institutional – university residences, hospitals and community centers. LMS has up to 600 employees during peak season. LMS’ customers are typically general contractors and/or developers.
Matisia is a Seattle, Washington based management consulting firm that provides companies with local, customized consulting solutions across six primary service lines: Business Intelligence, Business Transformation, Enterprise Resource Planning, Project and Product Management, Visual Communication and Organizational Change Management. Founded in 2006, Matisia has developed a passionate workplace culture with over 200 experienced consultants, providing services to a blend of blue-chip, Fortune 500 companies across a diverse set of industries. Matisia expects continued growth in the Seattle region, one of the fastest growing markets in the U.S., coupled with growth opportunities from its newly opened office in Minneapolis. Matisia has been recognized as one of the fastest-growing consulting firms in the U.S., as well as one of Washington’s top workplaces.
Planet Fitness Growth Partners (PFGP)
PFGP is a franchisee of Planet Fitness® and was founded in 2008 by Victor and Lynne Brick. The Bricks and their management team are well-respected operators in the fitness industry and have over 30 years of experience as owner/operators of fitness clubs on an individual basis. Through its affiliates, PFGP operates over 30 fitness clubs in Maryland, Tennessee and Florida and has area development agreements ("ADA's") to open up to 61 Planet Fitness® clubs in those same States. PFGP has grown to become one of the top 3 largest non-corporate affiliated franchisees in the Planet Fitness® system and were recently awarded (out of over 190 franchisees and over 850 Planet Fitness® clubs) the 2013 Franchisee of the Year, 2014 Developer of the Year for opening the most clubs in a single year and the 2014 Brand Excellence Review winner for having the highest rated clubs in the company according to club inspections conducted by Planet Fitness® Corporate. PFGP has its head office in Timonium, MD, located just outside of Baltimore, MD where it employs over 20 people. PFGP has a very repeatable, predictable and scalable business model and intends to open 10 to 12 additional clubs in 2015 and currently employs over 450 individuals company wide.
Providence is a leading provider of design, engineering, development, manufacturing and sourcing services for international apparel companies and retailers. The Company utilizes its extensive global network of sourcing and manufacturing partners to provide value-added sourcing excellence to customers, combined with rapid speed to market. In addition, Providence’s unique design expertise and focus on innovation enables customers to remain at the forefront of evolving fashion trends. The Company has an experienced management team with significant industry “know-how”, which is supported by a talented workforce of over 300 employees. Providence plans to continue to grow with current customers and add new customers that complement its current client and sourcing bases. The Company was founded in 2006 and is headquartered in Long Beach, CA.
Sales Benchmark Index
Founded in 2006, SBI is a US based management consulting firm specializing in sales and marketing that is dedicated to helping their clients deliver their revenue growth number. SBI uses the benchmarking method to help clients accelerate their rate of revenue growth. Benchmarking allows SBI clients to leap frog their competitors by getting access to emerging best practices from the top sales and marketing leaders. SBI believes it is different from other management consulting firms for 3 reasons: (i) Agilitrust – The SBI delivery methodology involves getting to a working prototype very quickly and then rapidly iterating from this to a finished solution. SBI offers a much faster cycle time from problem identification to problem resolution; (ii) Staffing Process - SBI staffs projects with senior-level executives and former heads of sales and marketing who have real-world experience, which results in practical solutions that actually get implemented; and (iii) Compensation Practices - 30% to 50% of every SBI employee’s compensation package is tied to a bonus that is entirely based on client feedback and overall impact, which naturally fosters client intimacy.
Sandbox is a full service marketing and advertising agency with operations across North America. It focuses on serving clients in the highly specialized industries of life sciences, agriculture, and financial services. The agency offers strategic marketing and planning and creative development, for all media and digital strategy solutions. Sandbox has decades of proven results and is owned and managed by expert advertising professionals with global experience. The company plans to continue its acquisition of regional marketing communication companies that complement the agency’s current operations, and will serve to further diversify the existing client base, skill set, and industry experience. Sandbox is headquartered in Chicago, Illinois with offices in Kansas City, Indianapolis, Des Moines, Santa Monica, New York, and Toronto.
SCR Mine Technologies
SCR has been providing mining services in the Northern Ontario region since 1994. SCR offers a wide variety of surface and subsurface mining, construction, electrical and mechanical services. SCR is known for their expertise and ability to install, construct, maintain, and recommend the best and most economical solution for a mining project. The company employs over 250 dedicated workers during peak times. The company works with large multi-national mining companies as well as junior producers alike, on a contractual basis.
"We joined forces with the Alaris group in May, 2013 with no regrets, issues or complaints. Our original intent was to have a financial partner that would offer us flexibility, assist in accelerating our future growth and that would allow us to keep operating as we have done in the last 20 years. We are happy to have the Alaris group as partners as we find them to be friendly, easy to deal with and down to earth."
- Claude Séguin, Co-Owner, SCR Mining & Tunnelling L.P
S.M. Group International
SMi is a privately owned company founded in 1972 which specializes in the delivery of integrated scientific, engineering and IT solutions dedicated to the areas of buildings, energy, energy efficiency, environment, industry, infrastructure, natural resources, power, security, telecommunications and materials testing. In addition, SMi operates microbiological and chemical analysis labs in the areas of environmental protection, agriculture, food security and their manufacturing processes, as well as cosmetics and certain pharmaceutical industry products. Active in more than 30 countries, SMi has over 1,600 professionals and specialists who are dedicated to delivering innovative and fully integrated solutions. SMi provides its services to a broad scope of clients including local corporations, multinationals, institutions, as well as government bodies at every level, including state owned enterprises.
"Financing was required to support our rapid national and international growth and strengthen the company’s asset base.
Other sources of financing offered had very restrictive covenants and were looking at SMi from a purely financial standpoint and not taking the time to understand SMi’s key success factors and growth potential. We felt uneasy working with a financial partner that did not understand our company.
Alaris took the time to understand the core of our business, our philosophy and all aspects related to our growth and evolution. Alaris’ good business sense and high level of efficiency and professionalism, put us at ease from the start of the process.
SMi feels that Alaris is a true business partner."
- Bernard Poulin, President, SM Group International
Killick Limited Partnership, together with its various subsidiaries, was a privately owned participant in the global aircraft parts resale, maintenance, repair and overhaul industry. Headquartered in Carrollton, Texas, Killick specialized in the sale, distribution, trade and service of aircraft engines and spare parts. Killick operated in Asia, Europe and the United States, where it employed over 130 people combined. Established in 2006, its operating subsidiaries provided product and service offerings into two markets: (i) MRO of small aircraft engines and engine accessories; and (ii) the distribution of commercial jet engines and parts, frame parts and engine accessories. The commercial aircraft parts supply segment had customers which included MRO shops that are subsidiaries of major airlines, as well as independent MRO's that serviced aircraft for many other types of customers. The small aircraft engine parts and services segment serviced customers such as regional air carriers, helicopter operators as well as individual owners of small aircraft. The owners of Killick sold the business in January 2015.
KMH is a Canadian-based privately held healthcare service provider with operations in Canada and the United States. KMH has grown from a single facility in 1988 to become one of the largest providers of Nuclear Cardiology Imaging services in North America with a referral network of over 10,000 physicians. KMH has 20 clinics: 12 in Canada and 8 in the United States. KMH’s services include Nuclear Medicine, Cardiology, Positron Emission Tomography (PET), and Magnetic Resonance Imaging (MRI) diagnostic services. Physician practice management solutions by KMH further enhance patient care by providing access to specialist consultations and treatment. KMH has successfully administered more than 600,000 cardiology, nuclear cardiology and nuclear medicine diagnostic tests and more than 40,000 magnetic resonance imaging scans. More than 86,000 patients visit KMH annually after being referred by physicians, insurance companies, employers and other third party service providers.
|Industry:||Healthcare: Diagnostic Imaging|
|Capital Invested:||$54.80 million (5 tranches)|
|Annualized Distribution to Alaris:||$0 ⁽¹⁾|
|Partner Since:||May 2010|
⁽¹⁾ KMH is not expected to pay Alaris a distribution in 2017. Alaris intends to exit the investment.
LifeMark is one of Canada's largest health care service providers growing from 30 clinics in 1998 to over 120 clinics today with over 2000 dedicated employees and consultants across Canada. The majority of its clinics are free-standing outpatient physiotherapy clinics. LifeMark provides physiotherapy and rehabilitation services, assessments, eldercare, occupational therapy and disability management, as well as home medical equipment sales and services. LifeMark provides services to private payers, worker's compensation and safety boards, private insurance companies and Government Agencies. LifeMark became a division of Centric Health in 2011.
Mid-Atlantic Health Care is a skilled nursing and rehabilitation provider. Founded in 2003 and headquartered in Timonium, MD, Mid-Atlantic Health Care has grown to be an innovator in post-hospital services throughout Maryland and Pennsylvania, operating 21 facilities and over 3,800 beds in those states. Mid-Atlantic Health Care prides itself on providing the highest quality of healthcare by offering a caring environment, quality hands-on clinical and nursing services, and a commitment to outstanding, patient-centered care. Mid-Atlantic is a leader in managing skilled short term stays for rehabilitation as well as long term care.
MEDIchair stores sell home medical equipment such as wheelchairs, scooters, life chairs, bathroom safety products, home accessibility solutions and personal health care products, such as wound care, compression and bracing to the aging, injured or disabled. MEDIchair and its predecessor companies have been in business since 1985 and have offered MEDIchair franchises since 1988. MEDIchair had over 60 locations with 387 employees system-wide at the time of the Alaris investment in each of the regions of Canada other than Quebec and management of MEDIchair believed that MEDIchair had approximately 16% market share of the Canadian home medical supply market, excluding Quebec. As a master franchisor, MEDIchair’s business model focuses on selling franchises and providing the required support services to franchisees. MEDIchair was headquartered in Calgary, Alberta, with nine employees at its head office and two full-time employees in its Etobicoke, Ontario regional office at the time of the Alaris investment. LifeMark Health purchased MEDIchair in September 2005 with proceeds from Alaris. Alaris' investment in MEDIchair was sold as a part of the Centric deal with LifeMark in 2011.
Founded in 1994 and based in Chino, California, Quetico has created a highly specialized and proprietary wholesale and inventory management niche within the logistics industry. Quetico provides specialized wholesale, “just in time” inventory management and third party logistics services of consumer products (mainly apparel and soft goods) to big box retailers and brand name manufacturers in North America and abroad. Quetico operates approximately 500,000 square feet of warehouse space and employs approximately 400 people at its peak times. Customers of Quetico are primarily “big box”, multi-national, financially stable, industry leading companies which either manufacture or retail textiles (apparel and other soft goods).
“We could not have been more pleased with our three year association with Alaris. They have been excellent partners and allowed us to do things financially that we could not have done otherwise. Their entire team has been a pleasure to work with and we will miss our friendly interaction with the group. We are only redeeming their investment as the nature of our business has changed, diminishing our need for the extra working capital Alaris had provided. We would not hesitate to approach Alaris in the future if the need once again arises.”
- Tom Fenchel, Co-Founder, Quetico
Sequel Youth and Family Services
Sequel is a privately owned company founded in 1999 which develops and operates programs for people (mainly youth) with behavioral, emotional, or physical challenges. Sequel offers a broad continuum of treatment options for children, adolescents, and adults. Its treatment options include; long-term residential treatment, short-term impact programs, shelter care, therapeutic group homes, therapeutic foster care, community-based services, in-home services, alternative education programs and psychiatric residential treatment facilities. Sequel's populations include adjudicated youth, children with autism, and children, adolescents and adults with physical disabilities or sexual, substance abuse, emotional, or conduct disorders. Sequel operates in 17 states and serves clients from over 36 states and regions. Sequel has an employee base of over 3,300 full and part time employees. Sequels customers range from various levels of U.S. Federal and State agencies as well as government sponsored insurance programs and private pay individuals.
"We were seeking a new financial partner to take out our existing equity sponsor and some other equity holders and to provide capital to continue growing our company.
We were not thrilled with the terms and conditions of traditional private equity capital providers because they wanted to exit in a certain number of years and did not provide a significant economic incentive for us to continue growing.
The financial architecture with Alaris provides a wonderful solution because it 1) provides for an increasing share of the enterprise value of the company to common shareholders as we grow, 2) is permanent capital since it does not require us to sell or refinance at any point in the future, and 3) allows us to retain control over the operations of the company.
Plus the folks at Alaris are great people and fantastic to work with."
- Jay Ripley, Co-Founder and Chairman, Sequel Youth & Family Services
SHS was an entity formed to operate, at a national level, the Sears installed home improvement business under the brand name, Sears Home Services. The company offerings included products and services such as HVAC (Heating, Ventilation and Air Conditioning), windows, doors, roofing, home décor, gas fireplaces, carpet, and furnace duct cleaning. SHS was headquartered in Toronto and employed approximately 650 workers nationwide. The services were provided through 82 retail locations and 8 hubs throughout Canada.
Solowave is a manufacturer of residential, ready-to-assemble wooden play centers as well as modular wooden structures for the DIY home owner. Solowave's products are sold under the brand names Big Backyard, Cedar Summit Premium Play Sets and Yardistry. Through new product development, quality and innovation, as well as its decades of experience in the industry, Solowave has established itself as one of the leading manufacturers of wooden play centers worldwide. Solowave has operations in Canada, the United States and Asia, and sells globally in North America, Europe, Australia, the United Kingdom and the United Arab Emirates. Solowave sells its play sets to major retail dealers such as Toys R Us, Costco, Target, Rona, and Canadian Tire.