• Houston, TX | Invested January 2005 | Exited July 2012
• Investment: Corporate carve-out
• Industry Vertical: Environmental Solutions / Niche Manufacturing

Ashbrook is operates in liquid and solid separation technologies for the wastewater industry. The company provides highly efficient and cost-effective solutions for dewatering and process system requirements for large customers. Ashbrook has a global presence with offices in the United States, the United Kingdom, Chile, and Brazil. Ashbrook was sold to Alfa Laval (Ticker: ALFA.ST) in July 2012.

• Acworth, GA | Invested December 2017 | Exited February 2022
• Investment: Family / founder recapitalization
• Industry Vertical: Niche Manufacturing

Americo Manufacturing Company is a manufacturer of floor maintenance pads and commercial and retail floor matting products. The company produces a diverse range of high-loft, nonwoven products such as floor maintenance pads and specialty fabrics, plus a complete line of vinyl-backed, walk-off floor mats for use in industrial, promotional, retail, custom and specialty market applications.

• Albuquerque, NM | Invested December 2016 | Exited August 2021
• Investment: Management recapitalization
• Industry Vertical: Specialty Services

BACOM is a provider of services for the installation, modification, construction, and maintenance of wireless communication facilities and related infrastructure.

• Mitchell, IN | Invested July 2006 | Exited May 2018
• Investment: Buyout / recapitalization
• Industry Vertical: Niche Manufacturing

C&M Conveyor, Inc. is a designer, manufacturer and installer of sophisticated material-handling systems for the corrugated, folding carton and commercial printing industries. Founded in 1982, C&M is a leader in its niche market.

• Ardmore, OK | Invested April 2014 | Exited May 2019
• Investment: Buy-and-build / greenfield
• Industry Vertical: Environmental Solutions / Specialty Services
• Add-ons: Acquired and/or developed six facilities during hold period

Cobalt is focused on the disposal of flowback and produced wastewater for the oil and gas industry.

• Hobbs, NM | Invested November 2006 | Exited July 2010
• Investment: Family / founder recapitalization
• Industry Vertical: Environmental Solutions / Specialty Services

Controlled Recovery, Inc. is a provider of oil and gas waste disposal services. Located in Hobbs, NM, the Company’s primary service area is the energy-rich Permian Basin. CRI was founded in 1990. CRI was sold to R360 Environmental Solutions in July 2010.

• Tomball, TX | Invested April 2004 | Exited December 2011
• Investment: Family / founder recapitalization
• Industry Vertical: Specialty Services

Founded in 1977, Environmental Design, Inc. (“EDI”) is a company in the large tree transplantation niche. EDI holds patents on the world’s most advanced tree transplantation equipment and has innovated advanced tree transplantation techniques. EDI was sold to management in December 2011.

• Dallas, TX | Invested April 2017 | Exited November 2022
• Investment: Buy-and-build
• Industry Vertical: Environmental Solutions / Specialty Services
• Add-ons: Ten acquisitions completed as of December 2020

Frontier Waste Solutions is a provider of municipal solid waste services to the municipal, residential, commercial and industrial markets. The initial Frontier platform includes the acquisitions of Access Disposal Services, serving Hillsboro and the market area between Waco and Ft. Worth, and K2 Waste Solutions, serving the areas around Corpus Christi and Liberty County, Texas.

• Austin, TX | Invested November 2004 | Exited June 2015
• Investment: Buyout / recapitalization
• Industry Vertical: Specialty Services

Gatti’s, founded in 1964, is a Texas-based owner, operator and franchisor of retail pizza restaurants across the United States. Gatti’s maintains over 100 stores across nine states with delivery, buffet and buffet/arcade concepts. Gatti's was sold to Sovrano LLC, an affiliate of FundCorp Inc., in June 2015.

• Dallas, TX | Invested January 2007 | Exited June 2014
• Investment: Growth capital
• Industry Vertical: Specialty Services
• Add-ons: Acquired over 10 stations during hold period

Hoak Media Corporation acquires and operates network-affiliated broadcast television stations. Hoak focuses on secondary and tertiary markets (DMA<100) where its stations are the dominant source of news and information in their respective markets. Based in Dallas, Hoak has a presence in eight markets in Texas, Colorado, Nebraska, South Dakota, North Dakota and Louisiana. Hoak was sold to Gray Television Group, Inc. in June 2014.

• Darien, WI | Invested July 2018 | Exited July 2022
• Investment: Family / founder recapitalization
• Industry Vertical: Niche Manufacturing

Ligchine International is a globally-recognized, designer, manufacturer and marketer of laser-guided boom operated concrete screeds. Ligchine produces a diverse range of models under the ScreedSaver™ banner, and Ligchine's products provide best-in-class concrete floor flatness and levelness results for its customers.

• Kansas City, KS | www.magnumsystems.com | Invested October 2016 | Exited January 2023
• Investment: Buyout / recapitalization
• Industry Vertical: Niche Manufacturing

Magnum, through its Taylor Products and Smoot brands, is a designer and manufacturer of branded packaging and material handling solutions serving a diverse set of end markets, applications, and customers. The Company’s highly engineered products are designed to handle free-flowing materials that are difficult to package or convey in all types of manufacturing environments. Magnum’s products are recognized throughout the industry for their superior quality, performance, reliability, and ease of use.

• Maryville, TN | Invested July 2015 | Exited June 2018
• Investment: Buyout / recapitalization
• Industry Vertical: Niche Manufacturing
• Add-ons: TurboSwing and Fishmaster

MAC is a designer and manufacturer of wakeboard towers and accessories and a producer of custom-patterned cockpit covers, bimini tops, and boat covers.

• Dallas, TX | Invested April 2008 | Exited May 2014
• Investment: Family / founder recapitalization
• Industry Vertical: Niche Manufacturing

Founded in 1989, MultiCam manufactures and distributes computer numeric controlled (“CNC”) cutting machines. MultiCam produces a full line of cutting solutions including routers, plasma, laser, water jet and knife cutting machines. MultiCam sells through independently owned distributors (“technology centers”) to a diverse and non-correlated set of end users. MultiCam was sold to Rosewood Private Investments in May 2014.

• Addison, TX | Invested September 2004 | Exited November 2005
• Investment: Growth capital
• Industry Vertical: Specialty Services

Omniflight transports critically ill or injured patients to hospitals, regional trauma centers or specialty care facilities. At the time of Blue Sage’s investment, the Company served 14 hospital-based programs and 12 independent programs with a total of 42 helicopters and one fixed wing aircraft. Omniflight has deployed these aircraft in 13 states. Omniflight was sold to Wind Point Partners in November 2005.

• Houston, TX | Invested August 2008 | Exited June 2015
• Investment: Family / founder recapitalization
• Industry Vertical: Niche Manufacturing

Parker School Uniforms is one of the three largest U.S. companies producing school uniforms for children in grades Pre-K through high school. Parker is one of the only companies that functions as both a manufacturer and a distributor of school uniforms. Parker has grown over the years to include service to over 900 schools and more than 250,000 students primarily in Texas and increasingly the Southeast and Midwest. Parker was sold to an investor group comprised of Salem Investment Partners, Plexus Capital and Argosy Investment Partners in June 2015.

• Omaha, NE | Invested December 2006 | Exited November 2018
• Investment: Family / founder recapitalization
• Industry Vertical: Niche Manufacturing

Primus Sterilizer, Inc. is an independent manufacturer of steam sterilizers in the United States. The Company’s sterilizers can be found in leading research laboratories, hospitals and pharmaceutical companies.

• Houston, TX | Invested July 2010 | Exited October 2012
• Investment: Buy-and-build / greenfield
• Industry Vertical: Environmental Solutions / Specialty Services
• Add-ons: Acquired and/or developed over 10 facilities during hold period

R360 is a provider of non-hazardous oilfield waste treatment, recovery and disposal services in several of the most active natural resource producing areas in the United States, including the Permian, Bakken, and Eagle Ford Basins. R360 operates 26 facilities across Louisiana, New Mexico, North Dakota, Oklahoma, Texas, and Wyoming. R360 was sold to Waste Connections, Inc. (NYSE: WCN) in October 2012.

• Hot Springs, AR | Invested August 2015 | Exited July 2022
• Investment: Family / founder recapitalization
• Industry Vertical: Niche Manufacturing
• Add-on: VAB Solutions

Timber Automation (dba Baxley-LogPro) is a manufacturer and supplier of equipment and systems for the forest products and biomass industries. The company manufactures and supplies blue-chip customers and independent sawmills with custom engineered equipment and control systems that maximize lumber yield and reduce labor costs, as well as machinery for sawmill logyards, engineered wood products plants, pulp and paper plants, chip mills, and pellet mills.

• Sparks, NV | Invested September 2005 | Exited October 2014
• Investment: Buyout / recapitalization
• Industry Vertical: Niche Manufacturing

VIA, Inc. is a niche designer, manufacturer and marketer of mid-to-high end office seating. Unlike other contract office furniture companies that take 6 to 8 weeks to build and deliver a custom chair, VIA is able to build most chair styles in many colors and fabrics within 48 hours.

• Broomfield, CO | Invested February 2007 | Exited June 2013
• Investment: Family / founder recapitalization
• Industry Vertical: Niche Manufacturing
• Add-on: Goldsmith

Founded in 1987, Visual Merchandising, Inc. (“VMI”) is a state-of-the-art designer, manufacturer, and distributor of custom mannequins, forms, and other visual merchandising products to the global retail industry. With a number one market share position in the U.S., VMI markets its products under the brands of Fusion Specialties, Inc. and Goldsmith, Inc. VMI was sold to Noa Visual Group, S.L. in June 2013.