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CORNERSTONE SELLS VESTCOM INTERNATIONAL
Little Rock, AR – April 19, 2006 - – Cornerstone Equity Investors, LLC announced today that it has completed the sale of Vestcom International Inc. (“Vestcom”) to a group formed by management, Stephens Group, LLC and Lake Capital for $158 million. Vestcom is a leading provider of retail, marketing and business communication services, and was acquired by Cornerstone in November 2002.
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Vestcom Divests Marketing & Business Communications Division to Focus on Retail In-store Marketing Services
Sale of MBC Division to Bowne & Co. Allows Company to Concentrate on Strengthening its Industry Leading Retail Shelf-Edge Presence
Little Rock, AR, January 3, 2006 -- Vestcom International, Inc., the leading provider of shelf-edge communications and specialized marketing services for retailers, today announced the completion of the sale of its Marketing and Business Communications (MBC) division to Bowne & Co. for $30 million in cash.
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TEAM HEALTH TO BE ACQUIRED BY THE BLACKSTONE GROUP
Knoxville, TN - October 13, 2005 - Team Health, the nation’s largest provider of outsourced physician staffing and administrative services to healthcare providers, today announced it has entered into a definitive agreement to be acquired by The Blackstone Group, a global private equity firm. The current management team will continue to lead Team Health and will remain significant equity holders. Further terms of the transaction have not been disclosed. The transaction is expected to be completed by mid-February 2006.
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EQUITRAC COMPLETES DEBT REFINANCING
Plantation, FL - July 15, 2005 - Equitrac Corporation today announced the completion of the company’s new $40 million senior secured credit facility. The proceeds from this financing were used to refinance existing senior indebtedness, repay the company’s existing subordinated debt, and issue a preferred stock dividend.
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NEPTCO COMPLETES DEBT REFINANCING
Pawtucket, RI - May 6, 2005 - NEPTCO, Inc. today announced the completion of the company’s new $85 million senior secured credit facility. The proceeds from this financing were used to refinance existing senior indebtedness and repay a significant portion of the company’s existing subordinated debt.
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VESTCOM INTERNATIONAL, INC. COMPLETES THE ACQUISITION OF CERTAIN ASSETS OF GRAPHIC TECHNOLOGY, INC.
Little Rock, AR - November 30, 2004 - Vestcom International, Inc. (“Vestcom”), a leading provider of retail, marketing and business communication services, today announced the signing of a definitive agreement to purchase certain assets of Graphic Technology, Inc. (“GTI”), a wholly owned subsidiary of Nitto Americas, Inc., part of the Nitto Denko Corporation.
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THE LAIRD GROUP PLC COMPLETES THE ACQUISITION OF CENTURION WIRELESS TECHNOLOGIES, INC.
Lincoln, NE - October 5, 2004 - Centurion Wireless Technologies, Inc., a portfolio company of Cornerstone Equity Investors, LLC, today announced that it has been acquired by UK-based Laird Group PLC for approximately $217 million. Centurion is the leading global designer and manufacturer of antennas for wireless handsets, and is the leading supplier of antennas for land mobile radios. The Company also produces a range of antennas for data services and networks for the emerging telematics, wireless data and WI-FI markets, and is a specialist supplier of power product assemblies.
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WebMD COMPLETES ACQUISITION OF ViPs, INC.
Elmwood Park, NJ - August 11, 2004 - WebMD Corporation (Nasdaq: HLTH) today announced that it has completed its acquisition of ViPS, Inc., a privately held provider of healthcare information technology from Cornerstone Equity Investors, LLC, a private equity firm located in New York, in a transaction valued at $160 million. ViPS develops and provides a full range of solutions for systems support, claims processing, provider performance measurement, quality improvement, fraud prevention, disease management and predictive modeling.
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NOVATEL WIRELESS PRICES COMMON STOCK OFFERING
San Diego, CA - April 29, 2004 – Novatel Wireless, Inc. (Nasdaq: NVTL), a provider of wireless broadband access solutions, today announced that it has priced its equity offering for 6.0 million common shares at $15.50 per share. Additionally, the Company announced that its common stock will commence trading, starting today, on the Nasdaq National Market System. The stock will continue to trade under the symbol "NVTL." Novatel Wireless' Common Stock previously traded on the Nasdaq SmallCap Market.
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TEAM HEALTH COMPLETES DEBT REFINANCING
Knoxville, TN – March 23, 2004 - Team Health, Inc. today announced the closing of the company’s new senior secured credit facilities and new senior subordinated notes transactions. The proceeds from these financings as well as existing cash were used to refinance existing indebtedness including existing senior secured credit facilities and senior subordinated notes, redeem the Company’s preferred stock, pay a common stock dividend and finance the transactions’ fees and expenses.
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CORNERSTONE COMPLETES THE SALE OF TRUE TEMPER SPORTS
Memphis, TN – March 15, 2004 – Cornerstone Equity Investors, LLC announced today that it has completed the sale of True Temper Corporation to management and Gilbert Global Equity Partners and related entities. The specific terms of the agreement were not disclosed. Upon the closing of the transaction, all of True Temper’s customers, employees, and suppliers will experience a smooth and seamless transition. No changes in trade policies or personnel are anticipated with the pending change of ownership.
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GEOTRACE RECAPITALIZES TO CONTINUE ITS GROWTH
Houston, TX – December 23, 2003 – Geotrace Technologies, Inc., a leading provider of subsurface imaging solutions and sophisticated reservoir analysis to the oil and gas industry worldwide, is please to announce its new financial partnership with Oak Investment Partners, Cornerstone Equity Investors and Allied Capital.
The recapitalization of the company will enable Geotrace to continue its growth momentum. Geotrace focuses on helping its clients optimize oil and gas production and managing exploration risks by employing a suite of highly engineered software tools that integrate seismic, well log, and other petrophysical data. Geotrace typically serves companies that are exploring a new field, attempting to most effectively produce oil and gas from a field with known reserves, or re-analyzing data for fields that are being sold or where new technology can help add value to a previous analysis.
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CENTURION WIRELESS TECHNOLOGIES COMPLETES DEBT REFINANCING
Lincoln, NE - November 24, 2003 - Centurion Wireless Technologies, Inc. obtained a new credit facility from a major U.S. bank with the proceeds used to refinance the Centurion’s existing credit facility, redeem and pay dividends on some of the Company’s preferred stock, pay for the transactions’ fees and expenses and finance working capital and general corporate needs.
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NEPTCO & OWENS CORNING FORM JOINT VENTURE
Pawtucket, RI - November 18, 2003 – NEPTCO, Inc. and Owens Corning announced today a definitive agreement to combine both companies’ glass-based rigid strength element and flexible reinforcement businesses. The NEPTCO LLC joint venture will develop, manufacture, market and sell industry recognized products including LIGHTLINE®, FLEXLINE®, SoftStrand®, and UltraStrand™ branded products which are used in the manufacture of copper and fiber optic telecommunications and data transmission cables.
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INTERIM HEALTHCARE COMPLETES DEBT REFINANCING
Sunrise, FL - September 15, 2003 - Interim HealthCare Inc. obtained a new credit facility from a major U.S. bank with the proceeds used to refinance its existing credit facility, finance the transactions’ fees and expenses and fund working capital and general corporate purposes.
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VIPS ACQUIRES LIFE SCIENCES COMPANY CB TECHNOLOGIES
Baltimore, MD - July 1, 2003 - VIPS, Inc., a leading provider of healthcare business intelligence solutions, today announced the acquisition of CB Technologies, an Exton, PA-based creator of the MetaTrial™ suite of clinical solutions, including MetaTrial electronic data capture (EDC) software, which is widely recognized in the biomedical market. The transaction closed on June 30, 2003.
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VESTCOM/CORNERSTONE MERGER CLOSES
West Caldwell, NJ - November 15, 2002 - Vestcom International, Inc. (Nasdaq: VESC), a leading provider of business communications solutions and marketing services, announced today that the merger transaction with Vector Investment Holdings, Inc. and Vector Merger Corp. (two entities formed by Cornerstone Equity Investors IV, L.P.) has closed. In accordance with the merger agreement, Vestcom shareholders (other than certain members of management) will receive $6.25 in cash for each of the issued and outstanding shares of Vestcom common stock they owned at the time of the merger.
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CENTURION CLOSES ACQUISITION OF ALLGON MOBILE COMMUNICATIONS
New York, NY - November 12, 2002 - Cornerstone Equity Investors IV, LP today announced its portfolio company, Centurion Wireless Technologies, Inc., has completed the acquisition of Allgon Mobile Communications (AMC), a division of Swedish based Allgon AB. Allgon Mobile Communications is a global designer and manufacturer of antennas for mobile phones and communication devices with operations in Akersberga, Sweden and Beijing, P.R.C. The acquisition, nearly doubling Centurion’s global production capabilities, makes Centurion the world’s leading engineering designer and manufacturer of antennas for the wireless communications industry.
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TEAM HEALTH ACQUIRES SPRECTRUM HEALTHCARE RESOURCES
Knoxville, TN - May 1, 2002 - Team Health, Inc., the nation's leading provider of hospital-based physician services, announced today that it has completed the acquisition of Spectrum Healthcare Resources (SHR), a major provider of permanent healthcare professional staffing services to military healthcare facilities. This news follows the definitive agreement that was announced on March 30, 2002.
SHR currently provides over 3,125 healthcare professionals, including physicians, para-professionals, nurses, specialty technicians and administrative support personnel, to its 61 hospital and 31 free-standing clinic clients in 33 states. These providers and support personnel deliver a wide range of healthcare services to active duty and retired military personnel, and the dependents of both groups.
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KINDRED HEALTHCARE ACQUIRES SPECIALTY HEALTHCARE SERVICES
Louisville, KY - April 1, 2002 - Kindred Healthcare, Inc. (NASDAQ: KIND) today announced it has acquired Specialty Healthcare Services, Inc., a private operator of six long-term acute care hospitals. In the transaction, Kindred purchased all of the stock of Specialty for $45 million. The acquisition was financed through the use of existing cash. Kindred did not assume any long-term debt in the transaction.
Specialty operates three, free-standing long-term acute care hospitals in California (248 beds) and a long-term acute care hospital within a hospital in Cleveland, Ohio (75 beds), Philadelphia, Pennsylvania (43 beds) and Charleston, South Carolina (59 beds). Specialty also has entered into another hospital within a hospital arrangement in Dallas, Texas, which is scheduled to open in the second half of 2003. Specialty generated revenues of $76 million in 2001.
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