The Fund’s current portfolio consists of 15 private company holdings representing a diverse cross-section of the Canadian economy. With every investment, the Fund targets a 16-20% annual cash1 yield and growth in value of the investment over time.
Information on this page is current up to the Funds latest quarterly filing, March 31, 2010.
 | NPC/Golosky
Invested Capital: $113.1 million
Ownership Interest: 80%
Cash Yield LTM2: 14.5%
www.goloskygroup.com and www.cobragroup.net
Management | | NPC/Golosky is a mid-sized oilfield services company serving traditional oil & gas and oil sands-related production companies. NPC/Golosky provides a wide range of services required by today’s major energy producers in Western Canada including maintenance, turnaround and construction services, field maintenance, pipe fabrication and assembly, highly-skilled welding, machining, repair and transportation supply services. | top |  |
 | Quantum Murray
Invested Capital: $77.9 million
Ownership Interest: 64%
Cash Yield LTM2: 0.3%
www.quantummurray.com
Management | | Quantum Murray is one of Canada’s largest full-service, national decommissioning and environmental remediation firms. Quantum Murray’s comprehensive industrial services offering includes: demolition, abatement and remediation, treatment and disposal of contaminated soil, investment recovery services and scrap metal salvage and waste management services. | | top | | |
 | Morrison Williams
Invested Capital: $42.0 million
Ownership Interest: 80%
Cash Yield LTM2: 10.4%
Management | | Morrison Williams is one of Canada’s leading institutional money managers with approximately $3.0 billion of assets under management. | | top | | |
 | Peerless
Invested Capital: $36.0 million
Ownership Interest: 90%
Cash Yield LTM2: 19.8%
www.peerless.mb.ca
Management | | Peerless is Canada's leading manufacturer of protective harsh weather outerwear. The company enjoys strong technical expertise in design and product development and is the leading supplier of severe weather garments to the Canadian Forces. | | top | | |
 | Gemma
Invested Capital: $32.3 million
Ownership Interest: 100%
Cash Yield LTM2: 11.2%
www.gemmacom.com
Management | | Gemma is a leader in call centre outsourcing. They develop and deploy solutions that allow their clients to reduce operating costs, re-engineer profits and improve customer satisfaction. | | top | | |
 | Brompton
Invested Capital: $27.2 million
Ownership Interest: 42%
Cash Yield LTM2: 0.0%
www.bromptongroup.com
Management | | Brompton Group is a leading provider of specialized financial assets and services to individual, institutional and corporate clients. Brompton's primary business is asset management with approximately $1.0 billion under management. Brompton also offers financial advisory and merchant banking services to its clients. | | top | | |
 | Titan
Invested Capital: $25.2 million
Ownership Interest: 92%
Cash Yield LTM2: 2.5%
www.titansupply.ca
Management | | Titan supplies western Canada’s oil and gas, mining, construction, forestry, transportation and municipal industries with a broad range of products including ground engaging tools, wear parts, traction chains, wire rope, rigging and lifting products and services. | | top | | |
 | Capital C
Invested Capital: $23.7 million
Ownership Interest: 67%
Cash Yield LTM2: 11.2%
www.capitalc.net
Management | | Capital C is Canada's Leading Marketing Activation Agency. Named Canada's Agency of the Year in 2006, Capital C creates Big Ideas That Work for the top brands in Canada, including Dove, Sunlight, Becel, Sunsilk, Pepsi, Frito-Lay, Gatorade, Nissan, Cineplex, A&P, Andrew Peller Ltd and Samsung. | | top | | |
 | NP LP
Invested Capital: $20.7 million
Ownership Interest: 100%
Cash Yield LTM2: 8.2%
www.newportpartners.ca
Management | | NP LP provides opportunities for entrepreneurs to increase and diversify their wealth. NP LP provides capital, money management and strategic financial advice through its various entities. | | top | | |
 | Armstrong
Invested Capital: $20.0 million
Ownership Interest: 80%
Cash Yield LTM2: 4.4%
www.armstrongpartnership.com
Management | | Armstrong is a full-service promotional marketing agency. With 70 full-time employees, the company provides Fortune 100 clients in Canada and the United States with a complete range of specialized services including interactive, in-store and direct marketing promotions. Armstrong has specialized expertise in the financial services, credit card marketing and animal pharmaceutical segments. | | top | | |
 | BMI
Invested Capital: $18.2 million
Ownership Interest: 78%
Cash Yield LTM2: 5.7%
www.bairdmacgregor.com
Management | | Established in 1979, BMI is a leading full service Canadian owned insurance brokerage serving a variety of corporate and personal clientele. BMI is an experienced niche commercial insurance provider and a recognized specialist to the transportation industry. | | top | | |
 | Hargraft
Invested Capital: $18. million
Ownership Interest: 100%
Cash Yield LTM2: (9.3)%
www.hargraft.com
Management | | Hargraft is a specialty insurance broker, focused on understanding industrial, commercial clients and high net worth individuals’ business and personal risks, and delivering appropriate property, casualty, group, executive and life solutions to fit their needs. | | top | | |
 | Gusgo
Invested Capital: $12.5 million
Ownership Interest: 80%
Cash Yield LTM2: 18.1%
www.gusgotrans.com
Management | | Gusgo Transport specializes in expanded intermodal trucking services, secure storage, warehousing, refrigerated services and 3PL solutions that allows clients to rely on Gusgo Transport to expedite their transportation requirements on a global basis. | | top | | |
 | IC Group
Invested Capital: $10.8 million
Ownership Interest: 80%
Cash Yield LTM2: 20.8%
www.icgrouplp.com
Management | | IC Group is a promotional marketing services provider with unrivalled expertise in the areas of interactive/online promotions, games/contests/sweeps services, specialty insurance solutions and promotion risk management consultation. Established in 1989, IC Group works with Fortune 500 brands and leading agencies to deliver solutions that create immediate impact and drive measurable results. | | top | | |
 | Rlogistics
Invested Capital: $10.0 million
Ownership Interest: 36%
Cash Yield LTM2: 9.6%
www.rlogistics.com and/or www.factorydirect.ca
Management | | Rlogistics is a reseller of closeout, discount and refurbished consumer goods with retail, wholesale, and refurbishing operations in Ontario. They carry over 3000 different products, including new and refurbished electronics, computers, housewares, and general merchandise. With 13 high volume retail outlets in Ontario operating as factorydirect.ca they are one of Canada’s largest retailers of refurbished and closeout durable goods. | | top | |
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| | SOLD INVESTMENTS |
| Redmond Group of Companies
Invested Capital: $77.6 million
Ownership Interest: 80%
Cash Yield Since Inception2: -1.1%
Cash Proceeds: $23.5 million | | On April 30, 2007, the Fund sold its 80% interest in Redmond Group of Companies, an independent distributor of consumer electronics and appliances, for proceeds of $23.5 million. |
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| EZEE
Invested Capital: $46.2 million
Ownership Interest: 100%
Cash Yield Since Inception2: 0%
Cash Proceeds: $35.7 million | On September 30, 2008, the Fund sold its 100% interest in EZEE ATM, Canada's second largest independent provider of full-service Automated Teller Machines (ATMs), to a private group, for proceeds of $35.7 million.
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Elliott Special Risks
Invested Capital: $64.5 million
Ownership Interest: 100%
Cash Yield Since Inception2: 40.2%
Cash Proceeds: $74.6 million | On October 1, 2009, the Fund sold its 100% interest in Elliott Special Risks, a specialty managing general agent and one of Canada's leading independent underwriters of commercial liability insurance, for proceeds of $74.6 million. |
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S&E
Invested Capital: $5.7 million
Ownership Interest: 80% | |
On June1, 2010, the Fund sold substantially all or the busiess assets for Sports & Entertainment, an alternative advertising agency focuses on sponsorship marketing in the sports and entertainment industries.
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1 Cash Yield refers to the Fund's cash-on-cash return based on distributable cash paid to the Fund as a percentage of invested capital for each investment.
2 Cash Yield Since Inception refers to distributable cash and net proceeds as a percentage of time-weighted invested capital.
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