Corridor Capital

Our seasoned investment team and dedicated in-house operations team provide an exceptional level of support for our portfolio companies across strategy, operations and finance.

We collaborate with management to build the infrastructure and efficiencies necessary for sustainable, scalable growth for companies in business services and distribution.

44% of the Corridor Capital portfolio companies have been women-led since 2014. We invest in amazing leaders and look forward to partnering with world-class women-run businesses.

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Private Equity

Corridor Capital targets companies led by management teams who desire an active partner. We prefer to work with entrepreneurs and family-owned businesses that have not yet realized the benefits of hands-on, institutional ownership.

While we purchase a controlling interest in companies in our Private Equity strategy, sellers often roll over a meaningful portion of their equity to benefit from the Corridor transformational approach, giving owners the potential for subsequent liquidity events after creating significant value together.

We have successfully invested in companies with the intention to support:

1

Liquidity and generational transitions

2

Funding of and engagement to implement institutional infrastructure

3

Unlocking of revenue scaling

4

Strategic development, pursuit, acquisition and integration of companies for service, product and market expansion

5

Provide access to increased capital investment sources for women-led businesses

Structured Equity

Corridor consistently invests and provides support regardless of the economic environment. During this period of volatility, Corridor’s capital and operational support can help owners and companies gain access to:

1

Liquidity during revenue uncertainty

2

Immediate partial cash out to owners

3

Infrastructure investment despite the market conditions

4

Resources for opportunistic acquisitions

The COVID-19 “uncertainty gap” can be bridged through a structured capital partnership.

Flexible Solutions

Example structural mechanisms:

  • Preferred non-control capital investment with capital used as both / either a dividend to owners and / or invested into the business – provides for owner liquidity and capitalizing the business for growth
  • Low / no amortization debt securities that accrue interest – provides flexibility to enable the business to invest cash in growth initiatives
  • Earn-out payment triggered once EBITDA target is achieved – addresses timing of when company returns to pre-COVID-19 levels
  • Call options – lock in appropriate market valuation

Independent Sponsors

Corridor Capital provides seasoned Independent Sponsors a pathway to:

1

Own a far larger portion of the equity, potentially >50%

2

Achieve material governance influence, and potentially, control of the company

We believe in the critical role of quality independent sponsors. Corridor is a high integrity, collaborative, operationally transformational partner with a track record of working successfully alongside several independent sponsors. We share asset-level advisory fees and can provide broken deal cost protection. Corridor provides debt and equity, works quickly, ensures transparency and respects our partners’ contributions to value creation.

The Corridor Independent Sponsor Approach

High leverage LBO with limited equity from fee rollover and Corridor equity; effective for lower-multiple acquisitions:

~95% Debt

  Corridor Senior Debt

High coupon, partial cash pay and asset-appropriate amortization

Seller Paper

Subordinated debt may be required

~5% Equity

 Equity

Independent sponsor to own a material portion of the equity, 35-70%

Investment Criteria

Corridor Capital invests in both healthy, growing businesses, as well as more complex situations, particularly those requiring growth support or operational or financial engagement. We invest in companies meeting these criteria:

  • EBITDA of $2-8 million
  • Diverse and stable customer base
  • Strong industry position and market fundamentals
  • Identifiable value creation possibilities
  • Entrepreneur or family-owned, desiring our highly active partnership

Target Business Services Sectors

We consider a variety of industries, including but not limited to:

Business Process Outsourcing

Critical value-added services that fulfill specialized functional activities or workflows

Marketing Services

Specialized marketing strategy and communications, events, customer acquisition, and digital marketing services

Value-Added Distribution

Distribution augmented by value-added solutions such as merchandising, assembly and resource planning

Training and Education

Intellectual property rich specialty training and education

How We Transform

Transformational Private Equity: Our Operational Approach

Portfolio companies benefit from strategic, operational and human capital enhancements to transform companies into platforms. Our investor base includes over 100 top executives across a vast array of industries and disciplines, a unique resource Corridor accesses for the benefit of our portfolio companies and their teams.

Portfolio

Current

Association Headquarters

Association Headquarters is based in New Jersey and has more than four decades of offering comprehensive association management and project-based / consulting services to national and international associations and nonprofit organizations. The company’s value-added services include membership, financial services, credentialing, marketing and communications, meetings and events, board management and other miscellaneous services to enhance the operational efficiency and effectiveness of associations. Association Headquarters empowers its clients to attain measurable success across four pivotal domains: diversified growth, engaged and disciplined leadership, intelligent use of technology and unwavering dedication to their missions. Serving as a foremost advocate for association sustainability and growth, Association Headquarters leverages its expertise, educational initiatives and forward-thinking approach to spearhead progress. The company has a proven track record of delivering exceptional outcomes, creating impactful experiences and fostering outstanding achievements for client organizations.

www.associationheadquarters.com

CEO Warrior

CEO Warrior is a New Jersey headquartered provider of subscription-based business training and implementation services for owners and the senior executive teams of contractor services businesses, particularly those engaged in heating, ventilation, and air conditioning (“HVAC”), plumbing, and electrical services. The company’s services include tactical and strategic trainings, peer community-driven engagement, and access to a database of proprietary resources which are collectively designed to help its clients grow revenue and improve profitability. CEO Warrior offers its training and implementation services through multi-year, monthly recurring revenue contracts, offering a variety of subscription levels and associated benefits to its members.

www.ceowarrior.com

FMT Solutions

FMT is an Oregon based provider of integrated educational content and tech-enabled marketing services principally for the retirement planning and wealth management services market. FMT offers a comprehensive suite of retirement planning and wealth management communication services and financial education courses designed to support Registered Investment Advisors (RIAs), Investor Advisor Representatives (IARs) and individual investors.

www.fmtsolutions.com

Indo~European Foods

Established in 1966, Indo~European Foods is a quality focused, traditions driven global foods importer, distributor and manufacturer headquartered in Commerce, CA. The company offers over 1,000 specialty food items across many categories including spreads, preserves, condiments, appetizers, cheeses, confections, seasonings and specialty grains and rice sourced from the Eastern European, Middle Eastern and Mediterranean marketplace. It is the parent company for the ZerGut premium food brand, known as “very good” in German, that offers a unique line of freshly packed vegetable spreads, dips, appetizers, olives and more.

www.indo-euro.com

Integrity Solutions

Headquartered in Nashville, Integrity Solutions is a provider of sales and sales leadership training programs to corporate clients across a variety of industries including healthcare, financial services, manufacturing, energy, utilities and agriculture, among others. Via in-person and virtual formats, Integrity Solutions delivers its training programs through a combination of facilitator-led sessions and self-learning curriculum. With trained professionals in 130 countries, the company strives to be the partner of choice to many values-driven organizations seeking an approach focused on both skillset and mindset.

www.integritysolutions.com

World Wide Land Transfer

World Wide Land Transfer (“WWLT”) is a full-service, independent title insurance and settlement services agency headquartered just outside Philadelphia. The company sells title insurance to individual borrowers in connection with residential and commercial real-estate purchase and refinancing transactions, and provides a variety of linked underwriting, closing, and settlement services. WWLT’s commitment to excellent customer service, coupled with the highest business and ethical standards, has enabled rapid, profitable growth into one of the Northeast region’s largest title insurance agencies. In 2022, the company acquired First Partners Abstract Co. Inc., a full-service settlement and escrow company also providing comprehensive title insurance services for all forms of real estate transactions across Pennsylvania and New Jersey. Together, the partnership strengthens the company’s endeavor to build the Northeast’s leading, fully integrated title services company.

www.worldwidelandtransfer.com
www.firstpartnersabstract.com

Realized

Arvan

​Arvan, Inc. specializes in fabricating mechanical and electrical components for the aerospace, electronics, microwave and electrical power industries. The Company has over 50 years of experience producing components to the highest engineering standards with compression and injection transfer molding of composite materials, CNC precision machining and metal components assembly. Corridor acquired 100% of the company through the acquisition of Churchill Aerospace in 2012. Arvan was acquired in 2020 by Esina Holding Corporation.

www.arvaninc.com

Circuitronics

Circuitronics is an Irving, TX based provider of specialized printed circuit board (“PCB”) assembly and related electronic manufacturing services (“EMS”). Circuitronics was realized in 2021.

Connecting Point Marketing Group

Connecting Point Marketing Group (“CPMG”) is a producer of business-intensive events which connect senior level executives for innovation in the food retail, hospitality, specialty retail and healthcare industries. CPMG was acquired by Emerald Expositions in 2017.
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www.cpmgevents.com

Consolidated Flooring

​SCI Floor Covering, headquartered in Southfield, MI, is the leading distributor and installer of floor covering products for the repair, maintenance and restoration of commercial, healthcare, multi-family and insured residential properties in Michigan. Since 1980, the Company has provided customers with superior service, quality and selection at competitive prices, while serving as a valued distribution partner to the country’s leading flooring manufacturers. In 2016, through its holding company Consolidated Flooring, LLC, the company acquired MC Flooring, the market leading distributor and installer of floor covering products for the multi-family segment in Kansas City. In 2018, through its holding company Consolidated Flooring, LLC, the company acquired Eastpointe Interiors, a leading distributor and installer of floor covering products for commercial properties in Western Michigan. SCI Floor Covering and MC Flooring were acquired by Rainier Capital Partners in 2023.

commercial-carpet.net
www.mcflooringkc.com
www.eastpointeinteriors.com

Control Devices

Control Devices is a leading manufacturer of high-quality valves and nozzles serving the pressure washer, compressed air, fire safety, brake systems, calibration systems, food service, agricultural and industrial industries. Control Devices was acquired in 2013 by Goldner Hawn Johnson & Morrison.
​​
www.cdivalve.com

Create & Cultivate

Create & Cultivate (“C&C”) is an online and offline community of career-oriented women that are brought together to learn, exchange ideas, and create and cultivate their ideal careers. The company sells sponsorships to their events and content to leading brands in a variety of sectors that seek to interact and align with C&C’s community. C&C’s commitment to innovative thinking, expanded service offerings and impactful customer experiences has driven significant growth and enabled the company to successfully incorporate virtual events during COVID-19. Create & Cultivate was realized in 2023.

www.createcultivate.com

Innovative Office Products

Innovative Office Products is a leading manufacturer of ergonomic mounting solutions for monitors, notebooks, tablet PCs and control panels as well as sit-stand desks. IOP offers 5,000+ SKUs in the U.S. and internationally to a diverse base of blue-chip customers. Innovative Office Products was acquired by Cathay Capital in 2017.
​​
www.innovativeworkspaces.com

Nationwide Property & Appraisal Services

Nationwide is a Voorhees, NJ based appraisal management company (“AMC”), licensed in all applicable states with existing AMC legislation and active in facilitating independent appraisals throughout the entire country. The Company specializes in the management of appraisal and property valuation services for residential and commercial property lenders, including many of the country’s largest mortgage originators and banks. Nationwide’s commitment to maintaining the highest standards of compliance, service and appraiser quality has enabled it to rapidly become the preferred partner for more than 20,000 loan officers, 400 different lending institutions and 7,500 of the most skilled independent appraisers throughout the United States. Since Corridor first invested in Nationwide, the Company has acquired five leading regional AMCs, including Guideline AMC in Minnesota (2019), OrderPro USA in Kansas (2019), Elliott & Company Appraisers in North Carolina (2019), Olde City Lending Solutions in Pennsylvania (2020), and First Choice Appraisal Management in Oregon (2021). Nationwide was acquired by Arcapita Group Holdings in 2022.


www.onestopappraisals.com
www.guidelineamc.com
www.elliottco.com
www.firstchoiceamc.com

SPM Marketing & Communications

SPM Marketing & Communications (“SPM”) is a La Grange, IL based brand advisory and fully integrated marketing services platform focused on the healthcare and wellness industry, including hospitals, health systems, behavioral health, senior living, dentistry and medical devices. SPM’s marketing and advertising services include strategy & branding, creative services, content marketing, digital, media planning & buying and consumer insights/research. As a leading healthcare and wellness marketing firm, SPM has worked with over 300 healthcare organizations in over 40 states. In 2020, the company acquired Centretek, a leading provider of enterprise website development, digital strategy, marketing and related services to hospitals and healthcare systems throughout the United States. In September 2021, the company acquired Dreamscape Marketing, a leading provider of digital marketing services including SEO, PPC, web site design and development, web hosting, and other performance and digital marketing services to the behavioral health, dental and senior living end markets. In December 2021, the company acquired General Leaning Communications (“GLC”), a leading healthcare focused content marketing agency with comprehensive capabilities in written and digital content strategy and development. Together, they form SPM Group, a complete “through the funnel” offering of services specifically for health, wellness and healthcare brands and organizations. SPM Group was acquired by Unlock Health in 2023.

www.spmmarketing.com
www.centretek.com
www.dreamscapemarketing.com
www.glcdelivers.com

U.S. Industrial Tool & Supply Company

​U.S. Industrial Tool & Supply Company offers an expansive selection of professional tools and accessories for aerospace manufacturing and other high precision industrial applications. The Company’s products include the HS Tooling brand, which is a market leader in aerospace installation, assembly and repair tools with exceptional speed, precision and power. Corridor acquired 100% of the company through the acquisition of Churchill Aerospace in 2012. ​U.S. Industrial Tool & Supply Company was acquired in 2020 by Esina Holding Corporation.

www.ustool.com

Wetmore Tool & Engineering

Wetmore Tool & Engineering is a market leader in specialty cutting tools, drill bits and fasteners, serving customers with needs for high precision solutions in the aerospace, automotive and industrial markets since 1950. Wetmore manufactures both custom and standard cutting tools and related products under the HP Manufacturing, Wetmore Cutting Tools and California Associated Products brands. Wetmore was acquired in 2019 by Dormer Pramet, a division of Sandvik Machining Solutions, a business area of Sandvik AB (SAND:SS).

www.hpwetmore.com

The Corridor Team

Craig Enenstein
Chief Executive Officer

Iman Navi
Managing Director, Investments

Shaun Wright
Managing Director, Business Development

CiCi Zheng
Managing Director, Operations

Kerry-Anne Dinwoodie
Investor Relations and CCO

Kevin Jay
Principal, Investments

Tae Macias
Director, Operations-Finance

Tommy Lee
Vice President

Michael Liu
Senior Associate

Jack Chason
Associate

Kate Speese
Associate

Nancy Eissa
Executive Assistant

Maya McGowan
Special Projects Coordinator

Erika West
Executive Assistant

Advisors

Executive Advisor: Finance

Jean-Francois Heitz

Jean-Francois held several positions from 1989 to 2003 with Microsoft (NASDAQ: MSFT), where he was responsible for strategic operations, and treasury and finance functions. During his tenure with Microsoft, he was Deputy Chief Financial Officer from 2000 to 2003, at which time he assisted the Chief Financial Officer to lead the company’s global finance, administration, IT and operations divisions, and he was primarily responsible for transactions, governance, integration of acquisitions and cross-organizational issues. From 1998 to 2000, Jean-Francois was Corporate Treasurer of Microsoft and managed all capital markets, global cash management, foreign exchange, corporate finance, and credit and risk management activities. Prior to his role as Corporate Treasurer for Microsoft, he served as Assistant Treasurer from 1994 to 1998 and as Director of Finance for Microsoft Southern Europe and General Manager, Business Operations, of Microsoft France from 1989 to 1994.

From 1980 to 1989, he held various finance roles with Matra SA (now Group Lagardere), a French multinational high-tech conglomerate, including four years in Boston, and Vice President of Finance and Administration of Matra Systèmes from 1987 to 1989. While with UNITEC, a European subsidiary of Envirotech Corp., he oversaw sales and marketing from 1978 to 1980. From 1974 to 1978, Jean-Francois was an Operations Research Engineer for Air Liquide S.A.

Jean-Francois currently serves as a Director for two private companies, Arc International S.A., and Succès Europe, and as chair of the Audit Committee for Arc International. His past board memberships include Ciber from 2011 to 2016, Bull from 2006 to 2010, Business Objects from 2003 to 2008, Wavecom from 2005 to 2008, Xantrex from 2007 to 2008, and TIR Systems from 2006 to 2007.

Jean-Francois is on the Investment Committee of two technology funds and was on the Advisory Boards for the Stanford Technology Venture Program until 2016. Jean-Francois also regularly invests in small companies as a business angel. In addition, he is a member of the Board of Trustees of the French American School of Puget Sound and the Seattle Symphony Orchestra, where he also serves as President of the Seattle Symphony Foundation, as well as a member of the Virginia Mason Foundation Board.

He holds an M.S.E in Mathematics, Engineering and Business from l’Ecole Nationale Superieure des Mines de Paris and an M.S. in Industrial Engineering, Operations Research and Engineering Economic Systems, summa cum laude, from Stanford University.

Executive Advisor: Supply Chain & Logistics

David Mounts Gonzales

David retired from Inmar in 2022. He joined Inmar as Chief Executive Officer in 2010 and assumed the additional role of Chairman in 2014. During his tenure he transformed Inmar Intelligence from a small business service company to a market leading data platform and software business for nearly 20,000 retail and healthcare companies. David has extensive operations, logistics, technology and financial management experience. He has lived and worked in the U.S., Europe, and Asia. His expertise in investment, digital transformation, industry and government collaboration, and corporate development has supported transformative product innovation and the growth of information-driven networks globally. David is currently managing partner to Aero X Ventures a venture fund focused on Advanced Air Mobility.

Prior to joining the Inmar team, David was Executive Vice President of Supply Chain for Domino’s Pizza, Inc. He also served as Domino’s Chief Financial Officer from 2005 to 2007. David was part of the leadership team that transformed DPZ product taste, e-commerce, and supply chain. Prior to Domino’s, David held several positions during a 23-year tenure at UPS. He started working for UPS in 1983 in the warehouse unloading and loading trucks to earn money for college expenses. He was promoted to the management program in 1984 and became one of UPS’s youngest partners in 1987. His roles spanned every level during his 23 years and included Country Manager, Chief Financial Officer, UPS Supply Chain Solutions, Vice President of Mergers and Acquisitions, and Senior Vice President of UPS Capital.

David holds an MBA from The Wharton School, University of Pennsylvania, and a Bachelor of Science from University of Nevada, Las Vegas. He was past Chairman of the Wharton Alumni Executive Board and currently serves on the Wharton Graduate Executive Board, the MyFutureNC Board, and is an Advisor to Corridor Capital. He previously served on the Board of Visitors for the Wake Forest University School of Business, the Board of Directors of Papa Murphy’s Holdings, Inc., and is a founding member of the Advisory Board for Wake Forest Innovation Quarter.

Executive Advisor: Distressed/Business Reorganization

Richard Pachulski

Richard is a founding shareholder of the law firm of Pachulski, Stang, Ziehl & Jones LLP, one of the leading reorganization specialty law firms in the U.S.

Rich has extensive experience in business reorganizations, debtor/creditor litigation, and out-of-court workouts. He has been cited by K&R Restructuring Register as one of America’s top 100 restructuring professionals and by the Los Angeles Business Journal as one of the top 15 banking & finance turnaround artists.

He holds a J.D. from Stanford University and a B.A. in Economics, summa cum laude, from the University of California at Los Angeles. He is a member of the American Bar Association, the Los Angeles County Bar Association and is a member of the Financial Lawyers Conference of which he served on the Board of Governors from 1989 to 1992.

Contact

For transactions and inquiries, please contact:
Shaun Wright
Managing Director, Business Development
shaun@corridorcap.com
310.442.7004

Corridor Capital, LLC
12400 Wilshire Boulevard
Suite 645
Los Angeles, CA 90025
310.442.7000