Portfolio Companies and Minority Investments
Northeast Remediation is the one of the largest and fastest growing lead paint remediation companies in Massachusetts. NER grew out of being an ancillary lead paint remediation provider of Scudder Bay Capital, a 1-4 family owner operator of residential properties, into a full-service lead paint remediation firm to homeowners and contractors all over Massachusetts. The lead paint remediation industry remains fragmented despite the demands of a quality lead paint remediation firm for the nation’s homes still contaminated with lead paint. Today, all business is third party business. Sales in the most recent month exceeded $300,000 and the company is growing at 300% a year.
Scudder Bay Property Management is a property management firm that evolved out of Scudder Bay Capital due to the shortage of qualified property management firms in Massachusetts. After taking over the property management role for the 250 residential rental units owned by Scudder Bay Capital, SBPM was able to reduce the vacancy rate from 7% to 1.5% and the delinquency rate from 4.0% to 1.0% while increasing the renewal rate from 50% to 70%+. SBPM was also able to make significant improvements in a number of other key areas significantly enhancing distributable cash flow.
Maine Industrial Tire LLC (MITL) was formed when a group of investors led by Mr. Ganz purchased certain assets from GPX International Tire as part of a Section 363 sale. These assets included a solid and pneumatic tire factory in China, a solid tire factory in Maine and a wheel factory in Pennsylvania as well as GPX’s solid tire division. These assets were reconstituted into Maine Industrial Tire LLC, one of the leading global manufacturers of solid and semi-solid tires for industrial equipment. Today Maine Industrial Tire has the broadest product offering of any solid tire manufacturer in the world. Customers include Bobcat, Caterpillar and John Deere as well as a broad array of aftermarket dealers. Maine Industrial Tire employs more than 600 employees in the U.S, Canada and China and serves more than 3,000 customers worldwide. Maine Industrial Tire’s sales in 2012 were $80 million. Mr. Ganz arranged for the sale of MITL at the end of 2012 to a strategic buyer. Investors earned a return of 670% on their original investment over a three year period.
Rumaguma Agricultural Tire Factory
Rumaguma was an acquisition in 2003 purchased through a State managed privatization process. It was later sold in 2008 to CGS Group, a no. 2 agricultural tire maker in Europe.
PowerSphyr Inc., is a provider of wireless power solutions and based near Silicon Valley in California. PowerSphyr focuses on wireless power innovation aimed at various markets and applications.