Portfolio Companies

Portfolio CompaniesHedge Capital has invested in a diverse set of companies since making its first acquisition in 1989. Its current holdings include a supplier of replacement parts for agricultural tractors and combines (Worthington Agricultural Parts, Inc.); the world’s leading designer and manufacturer of electronic instrumentation products for the agricultural equipment industry (DICKEY-john Corporation); a supplier of aviation parts to airlines, service centers and repair facilities (Worthington Aviation Parts); and a manufacturer of analytical instruments for a variety of industries, and testing and research instruments (TSI, Inc.). Hedge Capital Private Equity and Protech Capital Partners II (Hedge Capital Private Equity Partners), a $242 million fund closed in 2000, provides transaction structure flexibility in the form of control or minority equity investments in middle market companies, including equity linked subordinated debt and preferred stock. The fund provides liquidity for private company owners, finances strategic acquisitions, structures recapitalizations, management or employee buyouts and provides growth capital for company expansions. Its predecessor fund of $188 million, Hedge Protech Capital Partners, which was raised in 1995, was invested in 15 portfolio companies. Hedge Capital Partners IV, our subordinated debt fund, had its final closing at $223,000,000 in 2001 and is currently available for investment. This fund provides subordinated debt of $4 to $20 million per investment in middle market companies. This fund will also occasionally provide pref