The four primary components of our strategy are as follows: Geographic focus Industry focus Value-added partnerships Flexibility Geographic Focus Endeavour's portfolio companies are headquartered in the Western United States where we live and work. This regional strategy is based on the premise that doing business face-to-face is still the best foundation for partnerships. Advantages of this strategy include: Fewer but deeper relationships Responsiveness and accessibility to management Appreciation of regional business franchises and stewardship Local networks of advisors Understanding of economic, cultural and other regional dynamics Industry Focus We focus on the following industries in order to bring meaningful experience and best practices to the Boards of the companies we partner with from day one: Logistics and Supply Chain Portfolio Companies Description Market Transport Trucking and logistics Network Global Logistics Expedited delivery and logistics Northland Transportation Marine transportation Tidewater Holdings Marine transportation Lead Contact:    Leland Jones Food and Retail Portfolio Companies Description Bi-Mart Classic car auctions Bristol Farms Grocery Columbia Distributing Beverage distribution Columbus Foods Food processing and distribution National Frozen Foods Food processing New Seasons Market Grocery Winco Foods Discount food retail Lead Contact:  Bradaigh Wagner Education and Training Portfolio Companies Description Grand Canyon University Online and campus education Southern Careers Institute Training   Lead Contact:  Chad Heath Niche Manufacturing Portfolio Companies Description Legend Brands Drying equipment manufacturer Michaels of Oregon Shooting accessories manufacturer Nor Cal Tech manufacturing Speeco Farm equipment manufacturer Providien Medical Medical manufacturing Warn Industries Winch manufacturer Lead Contact:  Aaron Richmond Business Services Portfolio Companies Description Grant Victor Financial services K2 Insurance Services Insurance services Little Red Services Oil well services MTI-Andrews Electronics retail display and parts services Poorman-Douglas Legal services Lead Contact:  Dietz Fry Healthcare Portfolio Companies Description Providien Medical Device Contract Manufacturing Lead Contact:  David Goldberg Value-Added Partnerships Middle market companies have their own specific challenges and opportunities for growth and value creation. We seek to add value while also respecting the autonomy of our management partners to run the business day-to-day. Our areas of experience include: Aligning employee incentives through ownership and bonus programs Succession planning Recruiting additional experienced senior managers where appropriate, or developing a meaningful succession plan Recruiting independent board members with relevant experience Strategic planning and prioritizing of goals Improving data measurement and analysis Identifying, executing and integrating acquisitions Analyzing and planning for major capital projects Providing additional growth capital Sourcing / providing debt financing and managing leverage Identifying and sourcing leading advisors as needed (e.g., branding, marketing and IT) Providing perspective to management gained from experience with other successful companies addressing similar issues ("best practices") Flexibility Each company's circumstances are unique. We seek to be flexible and to have our capital meet the needs of the company, not vice versa. Our capital structures include: Minority or majority recapitalizations of privately-held businesses for owners to realize partial or full liquidity (e.g., Columbus Foods, Barrett-Jackson) Management buyouts in which management is acquiring their company or division from a private or corporate seller and is looking for the support of a partner (e.g., Market Transport, Northland Transportation) Ownership consolidations in which select owners or family members achieve partial or full liquidity (e.g., National Frozen Foods) Growth equity capital investments to fund organic growth, acquisitions or industry consolidations (e.g., Columbia Distributing, Citadel Communications, Grand Canyon Education) Balance sheet restructurings to de-lever and provide flexibility Take-privates or PIPEs Investments alongside Employee Stock Ownership Programs (e.g., WinCo Foods) We are not formula driven. We work creatively with business owners, managers and advisors to arrive at the desired structure and outcome.