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Saw Mill Capital Forms Strategic Alliance with Spectrum Capital to Acquire Underperforming Middle Market Manufacturing and Service Companies |
| Briarcliff Manor, NY, January 27, 2009 – Saw Mill Capital announced today that it has formed a strategic alliance with The Spectrum Capital Group to identify control investment opportunities in underperforming manufacturing and service businesses. Saw Mill and Spectrum will be targeting companies controlled by private equity groups, distressed debt funds, hedge funds and other institutional owners (including their lenders), where Saw Mill’s expertise in operational improvement and sales and marketing, coupled with Spectrum’s expertise in restructurings, will create a meaningful opportunity to improve cash flow and operating income. Saw Mill and Spectrum are particularly interested in partnering with distressed debt funds by investing in and overseeing companies in which they are invested. According to Scott Budoff, partner at Saw Mill Capital, “We are looking to acquire control of underperforming companies from institutional owners who are not in a position to invest new equity capital and would benefit from a partner like Saw Mill that has the expertise to improve the performance of their portfolio companies. Our alliance with Spectrum creates a one-stop solution that brings capital, operational focus and, where needed, restructuring expertise, which will allow us to collaborate with current owners and debt holders to develop win-win solutions that will increase enterprise value for all investors and lenders.” Michael Lederman, Spectrum’s managing partner, explained, “The current business and economic climate poses unprecedented challenges to the private equity community and other institutional owners, as protracted distress, loan defaults and bankruptcies could negatively impact the operational performance of their portfolio companies and create reputational damage. Our consolidated approach to bringing capital, operational improvement capabilities and restructuring expertise to middle market businesses will create value for current shareholders and their lenders by improving the long term prospects of their portfolios.” Saw Mill Capital LLC is a private equity firm that acquires manufacturing and service companies with enterprise values of $25 to $200 million. Saw Mill makes platform investments in companies with at least $5 million of EBITDA, and will consider smaller transactions as add-ons for portfolio companies. Saw Mill’s disciplined process and active involvement allow it to help companies reach their full potential by working collaboratively with management teams and outside executives to create effective business strategies, implement best practices and provide global market expertise. To learn more about Saw Mill Capital, please visit www.sawmillcapital.com or contact any of the firm members listed to the left. The Spectrum Capital Group is a ten year old investment and merchant banking boutique with a national restructuring practice that applies an investment-driven approach to discerning alternative means of unlocking value in underperforming companies. To learn more about The Spectrum Capital Group, please visit www.spectrumcapitalgroup. com. Contact Information Scott Budoff, Partner Saw Mill Capital LLC sbudoff@sawmillcapital.com (914) 741-9091 Michael Lederman, Managing Partner The Spectrum Capital Group, LLC mgl@spectrumcapitalgroup.com 401.396.9777 |
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