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TRP Capital Partners
Strategic Capital for the Transportation Industry
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The Transportation Market
© 2015 TRP Capital Partners, All Rights Reserved
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Overview
Transportation Resource Partners (“TRP”) seeks to make
investments in growth oriented businesses in the
transportation sector. The Firm capitalizes on strategic
relationships, commercial synergies, and the transportation
expertise of all of its partners, including Penske Corporation
and its subsidiaries, partners, and affiliates.
TRP's philosophy is to support existing management teams
while giving them autonomy to run the business. TRP's
principals have 75+ years of experience in the areas of
finance and transportation-related investing.
Former portfolio companies include Penske Automotive Group
and Universal Technical Institute, which are publicly-traded
under the symbols NYSE: PAG and NYSE: UTI.
TRP Portfolio Company
National Powersports Auctions
remarkets motorcycles and
powersports equipment
© 2015 TRP Capital Partners, All Rights Reserved
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Investment Criteria
While the majority of our investments have been transportation
oriented and focused on their potential leverage opportunities
associated with our strategic partners, we are, in fact, open to any
investment that meets the criteria listed here. We are a middle market investor interested in strong management
teams that can take solid companies to the next level. TRP considers the following investment criteria:
TRP Portfolio Company
United Road Services transports
vehicles in North America
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Strength of existing management team
Past operating performance
Growth prospects for the business
Ability to leverage TRP's relationships and capabilities
Purchase prices generally ranging from $25 million to $250 million
Strong customer service component to product or service
Preference for control but will consider minority stake positions
Ability to support debt through operating cash flow
Adequate liquidity options
Areas of particular interest include but are not limited to:
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TRP Portfolio Company
Versant Supply Chain supplies valueadded warehouse services and
transportation logistics.
Dealerships / Services
Education & Training
Outsourced Services
Niche Manufacturing / Environmental
Distribution / Logistics / Supply Chain
© 2015 TRP Capital Partners, All Rights Reserved
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Investment Philosophy
At TRP, we know that the effort we put into analyzing
investment opportunities both prior to and after an acquisition
results in a better partnership with our portfolio’s management
teams and stronger returns for all TRP stakeholders.
TRP's investment philosophy is built around a productive
relationship with company management. Throughout the life of
an investment, the TRP Principals work to build a solid
partnership with management resulting in exceptional
investment returns. TRP does not get involved in the day-today execution of the Business Plan. Instead, it provides
companies with a variety of contacts in both the strategic and
financial arenas, as well as industry knowledge gained from
over 100 years of business expertise. TRP will work with
management to help set operational and strategic goals
through a presence on the company's Board of Directors or
specific project teams. TRP offers the opportunity for significant
equity ownership to our management partners. When the
appropriate time to exit arrives, TRP will work with
management to pursue a variety of options including a public
offering, private sale or a recapitalization.
© 2015 TRP Capital Partners, All Rights Reserved
TRP Portfolio Company
4Refuel provides mobile fueling services
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Current Portfolio
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Current Portfolio
4Refuel Canada LP
4refuel.com
United Road Services, Inc.
unitedroad.com
Tire Group International
tiregroup.com
Value Proposition — Onsite fueling saves time
and expense
TRP Investment — September, 2013
Value Proposition — Leading edge
technology for vehicle transport logistics
TRP Investment — December, 2012
Value Proposition — Superior customer
focus and international supply logistics
TRP Investment — October, 2011
Founded in 1995, 4Refuel pioneered the Mobile On-site Refueling
(MOR) industry in Canada and has built an unmatched market
presence servicing over 900 cities across Canada, delivering over
3.5 million unique fueling transactions annually.
United Road Services manages the transport of nearly 2 million
cars for clients including global vehicle manufacturers, remarketers, financial institutions, car auctions, car dealers, retail
single units and personally owned vehicles.
Tire Group International, LLC specializes in the trade of tires and
tubes in over 70 countries. It is headquartered in Miami, Florida
with associate offices in Venezuela, Peru, Ecuador, Brazil,
Dominican Republic, Mexico, and 2 offices in China.
The Company is the largest, most trusted and sophisticated onsite fuel provider in North America, serving over 6,000 clients
annually. 4Refuel provides service to a range of large and small
clients, ranging in size from one piece of equipment to thousands.
The Company’s leading and proprietary OVISS (Online Vehicle
Information Shipping Solution) auto transport management logistics
information system gives its clients real time GPS order visibility,
event reporting and car delivery confirmation.
TGI, carries over 40 different brands of tires, covering the entire
spectrum of the tire industry, as well as several brands of tubes and
various lines of automotive wheels and repair products. Besides
TGI’s large inventory, it also has access to literally millions of tires
worldwide, ready for direct shipment to any destination.
National Powersport Auctions
npauctions.com
Value Proposition — Industry knowledge and
leading technology for seamless transactions
TRP Investment — March, 2012
Endurance Vehicle Systems
endurancewarranty.com
Value Proposition — Direct administrator of
warranty and vehicle service plans
TRP Investment — June, 2015
Versant Supply Chain
versantsc.com
Value Proposition — Experts in optimizing
supply chain performance
TRP Investment — February, 2006
National Powersport Auctions is the number one provider of auction
and remarketing services in the powersports industry. Created
over 20 years ago by founders from the industry, NPA serves
lenders and dealers throughout the nation with a complete range of
auction-related services.
Endurance provides quality extended vehicle protection at prices
working people can afford. With the average car on American
roads now at 11.5 years, the demand for extended warranties
and vehicle service package is steadily growing.
Founded in 1999, Versant has grown to offer a comprehensive
list of distribution logistics services including warehouse
management, staffing, multi-modal freight forwarding, valueadded services and customized engineered solutions for its
global customers.
NPA's proven marketplace and liquidation services are ideal for
many other types of powersports-related businesses including
insurance companies, OEM's, and any other organization with a
need to liquidate powersports inventory quickly and efficiently with
the best possible return.
© 2015 TRP Capital Partners, All Rights Reserved
Unlike many protection plan resellers, Endurance is the direct
administrator and obligor of most of the plans it offers. That
allows the company to offer superior customer focus and direct
contact with parts and service providers.
The Company offers flexible warehouse space and staffing
options in Memphis, TN, Joliet, IL and Southaven, MS. It also has
staffing offices in Memphis, TN, West Memphis, AR, Jolit, IL,
Plainfield, IN and Southaven, MS.
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Selected Prior Transactions
Freightliner Truck Dealerships
Automobile Dealerships
HD Fuel Processors
LED Lighting
HD Telematics
Automotive Retail Training
© 2015 TRP Capital Partners, All Rights Reserved
Technical Training
Solar Window Films
Fleet Management
Recreational Boating
Driver Training
Home Delivery Logistics
Precision Machining
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© 2015 TRP Capital Partners, All Rights Reserved
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Contact Information
Michigan Office
2555 Telegraph Road
Bloomfield Hills, Michigan 48302
Phone: (248) 648-2101
Fax: (248) 648-2105
New York Office
1177 Avenue of the Americas
38th Floor
New York, NY 10036-2714
Phone: (908) 363-6000
© 2015 TRP Capital Partners, All Rights Reserved
James Hislop
Managing Director
james.hislop@trpfund.com
David Mitchell
Managing Director
dave.mitchell@trpfund.com
Steven Carrel
Managing Director
steve.carrel@trpfund.com
Michael DiRienzo
Managing Director
michael.dirienzo@trpfund.com
Michael Vellucci
Vice President
michael.vellucci@trpfund.com
Karen Hansen
CFO / CCO
karen.hansen@trpfund.com