Portfolio

Current Investments

Alpha Media

Alpha Media

Headquartered in Portland, Oregon, portfolio company Alpha Media is the fourth largest radio broadcaster in the United States, with over 250 radio stations across the nation. Alpha Media is the result of a merger in April 2014 between Alpha Broadcasting and Breakwater portfolio company L&L Broadcasting.

Alpha Media is headed by a world-class management team. Prior to Alpha Media, radio veteran Larry Wilson founded Citadel Communications in 1984, starting with only two radio stations. In 2001, Citadel Communications was sold to Forstmann Little with over 200 stations for $2.1 billion. Larry and his team are now looking to repeat their previous remarkable success under the Alpha Media platform.

Argo Tea

Argo Tea, Inc.

Founded in 2003, portfolio company Argo Tea® is a multi-channel, branded beverage enterprise headquartered in Chicago, Illinois. Known for blending the finest local and global loose-leaf teas in over 40 locations worldwide, the business offers a unique experience for customers through its distinctive menu of natural, tea-based signature drinks, wide choice of loose-leaf teas, organic coffee, and other specialty foods. Argo Tea is led by highly respected industry leaders with a proven track record of growing consumer products companies, including Starbucks, Dunkin Brands, Pepsi, Frito Lay, Gatorade, Tropicana, and Quaker.

Bleach Group

Bleach Group, Inc.

Portfolio company Bleach Group, Inc. (“Bleach”) is an award-winning global youth culture brand house. Founded in 2001 and headquartered in Sydney, Australia, Bleach designs, produces, markets, and distributes branded youth fashion apparel and accessories under its flagship brands Insight, Ksubi, and Something Else. Bleach’s globally recognized brands are sold through premium youth fashion outlets, department stores, and specialty outlets in forty countries.

BBM Compliance

BMM Compliance

Portfolio company BMM Compliance (“BMM”) is the longest-established and most experienced private, independent gaming test lab in the world. Founded in Melbourne, Australia in 1981, BMM is now approved or licensed to recommend products for certification in some 300 gaming regulatory jurisdictions around the world. BMM is headquartered in Las Vegas, Nevada (USA), with offices in Lima (Peru), Midrand (South Africa), Graz (Austria), Barcelona (Spain), Melbourne and Sydney (Australia), Singapore, Macau and South Korea.

Concensus Orthopedics

Consensus Orthopedics

Founded in 1992, portfolio company Consensus® Orthopedics, Inc. (“Consensus”) designs, manufactures, and distributes high-quality reconstructive total joint implants for the hip and knee. Headquartered in El Dorado Hills, CA, the company sells its products throughout North America, Western Europe, Turkey, China, Japan, and Australia.

In 2011, Consensus formed an exclusive partnership with China Kanghui Holdings (NYSE: KH), a leading developer of orthopedic implants in China, to manufacture and market a line of Consensus’s joint implant products in China and other select international territories. China is one of the fastest growing medical device markets with opportunities of significant scale.

Exhale - Mind and Body

Exhale Enterprises, Inc.

Founded in 2003, portfolio company Exhale Enterprises, Inc. (“exhale”) is a leading operator of best-in-class, award-winning mind body spas. The company currently has properties in 11 top markets, including locations within upscale hotels and resorts such as the Gansevoort Hotels in New York and Turks & Caicos, Kimpton’s EPIC Hotel in Miami, and the Fairmont Miramar Hotel & Bungalows in Santa Monica.

Loot Crate

LOOT CRATE, INC.

Founded in late 2012, Los Angeles-based Loot Crate™ is a revolutionary fan-based commerce and community platform. Loot Crate™ partners with the largest movie studios, game companies, comic publishers, and general pop culture talent to deliver multiple lines of themed mystery boxes monthly to fans, affectionately called “Looters,” around the world. Currently, subscribers total over 600,000 worldwide and the company services 35 countries.

Open Road Entertainment

Open Road Entertainment, LLC

Portfolio company Open Road Entertainment, LLC (“Open Road”) is a leading innovator and provider of entertainment marketing solutions across multiple platforms, both in the United States and abroad. The firm specializes in creating exceptional audio-visual advertising for theatrical motion pictures, home entertainment releases, broadcast promos, video games, and more. Its diverse team of creative directors, editors, writers, designers, and music specialists are experienced in all genres.

In September 2012, Open Road merged with the award-winning boutique agency Happy Hour Creative, LLC.

Planet Blue

Planet Blue

Founded in 1995, portfolio company Planet Blue is a leading California-based lifestyle retailer and fashion brand. Planet Blue designs and distributes contemporary casual fashion apparel, jewelry, and accessories under its own brand names Blue Life and Blu Moon, alongside a range of complementary third-party brands.

Planet Blue is in the process of opening stores in Japan through a joint venture partnership with Sanei International and ramping up production of branded apparel sold through Saks Fifth Avenue and other brick-and-mortar and web retailers. The business has developed a strong and loyal following.

Smarty Pants

SmartyPants, Inc.

Founded in 2010 and based in Southern California, portfolio company SmartyPants, Inc. is an emerging leader in the premium, all-natural nutritional supplements space. The company manufactures, markets, and distributes multivitamin gummies for children and adults using only the highest quality, sustainably sourced (eco-friendly), bio-available nutrients. SmartyPants products are therefore 100% non-GMO and free of gluten, preservatives, and artificial flavors.

SmartyPants institutes a one-for-one giving model: for every bottle sold, the company makes a matching nutrient grant donation to a child in need through a partnership with Vitamin Angels. SmartyPants has been featured in numerous magazines including People, Style, Modern Mom, Parents, and The Oprah Magazine.

Split Rail Fence

SPLIT RAIL FENCE & SUPPLY CO.

Split Rail was founded in 1974 and today is the leading fencing supply and installation business in the Front Range of Colorado. Split Rail has over 120 employees, with locations in Littleton and Dacono, and serves the markets’ local, regional and national homebuilders, homeowner associations, multi-family and commercial builders and developers, municipalities, fencing and remodeling contractors, and homeowners. Split Rail has a legacy of more than 40 years in the Colorado community and building industry, with an estimated 100,000+ Split Rail banners displayed on fences throughout the Front Range of Colorado.

Veggiegrill

The Veggie Grill, Inc.

Portfolio company The Veggie Grill, Inc. (“Veggie Grill”) is an award-winning veggie-centric restaurant chain. Headquartered in Santa Monica, California, the business operates 26 locations in the Western United States. Well positioned in the industry, Veggie Grill outlets provide a highly differentiated menu offering within the better-for-you fast-casual restaurant segment. The company’s lead equity investor is California-based Brentwood Associates, a consumer-focused private equity group with significant experience in successful restaurant investing.