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 100 Motor PkwySuite 165 Hauppauge, NY 11788 631-231-4121 Telephone 631-231-8121 Fax info@westburypartners.com. |
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Westbury
Partners: Printable Web Site |
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About
Westbury Partners Westbury
supports proven, successful teams managing businesses with predictable
revenue streams; expanding markets; existing or clear paths to profitability;
and defensible competitive advantages such as proprietary technology.
Though opportunistic investors, we focus on market segments which are
large and possess strong organic growth potential. Existing portfolio
companies encompass a broad range of industries, including the following
sectors: information technology, enterprise software, training/education,
outsourcing, and niche manufacturing. Westbury's primary objective is to generate superior returns for our limited partners. We apply our collective experience and expertise in assisting management teams to build industry-leading enterprises. |
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Why
Westbury Governing all aspects of our investment activity is a deep sense of integrity and responsibility, a standard upon which we place the highest priority. This approach to investing creates long-term sustainable value for our portfolio companies and results in superior returns to our investors. |
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Westbury
Team
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Westbury’s
investment initiative is led by Joseph
G. Fogg III, James W. Schubauer II
and Richard P. Sicoli. As founding
partners, they comprise the Firm's Investment Committee and manage a
team of experienced private equity professionals who each possesses
complementary strengths and professional backgrounds. Westbury strives
to leverage its collective skillset to the benefit of its portfolio
companies. |
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Westbury
Team
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 Joseph G. Fogg III Chairman & Chief Executive Officer |
 James W. Schubauer II President & Chief Operating Officer |
 Richard P. Sicoli Chief Financial Officer |
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 Joseph G. Fogg III Chairman & Chief Executive Officer |
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In addition, Mr. Fogg brings a wealth of expertise in service firm management gained, in part, through his role as head of Morgan Stanley's 1,000-person Investment Banking Division, operating in 16 offices on four continents, and his role and responsibilities on Morgan Stanley's Management Committee. Mr. Fogg will serve as Chairman of Westbury III's Investment Committee. As he has since Westbury's founding, Mr. Fogg will play an active role in deal origination and networking and will oversee the due diligence process in connection with prospective investments. He currently sits on the Board of Directors of the following Westbury portfolio companies: Advanced Interactive Systems, Ensequence and Qpass. Long active in Republican politics, Mr. Fogg served as National Finance Chairman of Robert Dole for President in 1988 and National Vice Chairman of Phil Gramm for President in 1994, and is a former New York State Republican Party Finance Chairman. Mr. Fogg is a Director of The Yale University Art Gallery, Vice Chairman of The Keewaydin Foundation and a member of The Yale Development Board. Mr. Fogg earned his BA in Economics from Yale College and his MBA from the Harvard Business School, where he was a George F. Baker Scholar. |
 James W. Schubauer II President & Chief Operating Officer |
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Previously, Mr. Schubauer was a senior officer and partner of the private equity investment firm Rosecliff, Inc. Rosecliff managed a capital pool of approximately $150 million targeted for middle-market growth capital financings and management buyouts. In addition to his role as one of the firm's senior investment partners, Mr. Schubauer served as Rosecliff's sole representative on the Board of Directors of a leveraged buyout firm in which Rosecliff held a significant equity interest. This firm's mandate was to invest in the closely held and privately owned business market. Mr. Schubauer began his private equity investment career as a principal of Wand Partners, L.P. Founded in 1987 as the private equity investment affiliate of S.G. Warburg & Co., Wand has built a recognized presence in middle-market growth capital financings and management buyouts, and is an established investor in specific industry areas including specialty finance, information services and direct marketing. Previously, Mr. Schubauer was a member of CS First Boston's Mergers and Acquisitions Groups in London as well as New York, and a member of Morgan Stanley's Financial Institutions Mergers and Acquisitions Group in New York. Mr. Schubauer, as President and Chief Operating Officer of Westbury, has direct responsibility for structuring and negotiating the Fund's equity investments and leads the sourcing of investment opportunities. As he has been since 1998, Mr. Schubauer is responsible for managing the day-to-day operations of the investment initiative of Westbury III. He currently serves as a Director of Advanced Interactive Systems, Aurora Flight Sciences, Cryptek, Partsearch Technologies and Top Layer Networks. Mr. Schubauer earned his BS in Applied Economics and Business Administration from Cornell University and his MBA from INSEAD in Fontainebleau, France. |
 Richard P. Sicoli Chief Financial Officer |
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At Westbury, Mr. Sicoli is a senior investment professional actively participating in the origination, evaluation and structuring of new investment opportunities, as well as the monitoring of existing portfolio companies. Since co-founding Westbury I in 1995, he has played a primary role in the execution of all of Westbury's transactions. Mr. Sicoli is currently a member of the Board of Directors of Comet Learning and Cryptek, and serves as Board Observer representing Westbury's interests in Invidi Technologies and Visiprise. Mr. Sicoli is also responsible for the financial, accounting and tax issues relating to Westbury's investment partnerships. Mr. Sicoli is a New York State Certified Public Accountant and earned his BBA in Accounting from Hofstra University, where he graduated in the top one percent of his class. |
 Nitin Gupta Principal |
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From 1997 through 1999, Mr. Gupta was an Associate at McCown De Leeuw & Co., a private equity fund with over $1.2 billion under management and dedicated to middle market leveraged buyout investments. At MDC, Mr. Gupta executed the firm's consolidation strategy in electronic contract manufacturing and business services. From 1995 through 1997, Mr. Gupta was an Analyst in the Mergers & Acquisitions Group at Merrill Lynch, where he executed a number of buyside transactions and strategy reviews for Fortune 1000 companies. At Westbury, Mr. Gupta is responsible for investment origination, screening, due diligence, structuring and execution, as well as monitoring duties associated with Westbury II's portfolio. Mr. Gupta currently serves on the Board of Directors of AirWave Wireless and OmniGuide. Additionally, he serves as Board Observer representing Westbury's interest in Intelliden. Mr. Gupta earned his BS in Finance, cum laude, from New York University and his MBA from the Harvard Business School. |
 Anne M. Joseph, |
Ms. Joseph graduated from CUNY, Queens College, earning a BA in Accounting and Information Systems. She is a New York State Certified Public Accountant |
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Advisory
Board |
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James M. Denny |
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Philip N. Duff |
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John
B. Goodrich Retired Senior Partner of Wilson, Sonsini, Goodrich & Rosati; Director of several private and public companies. |
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Honorable
Jack Kemp Former Republican Nominee for Vice President; Former Secretary of Housing and Urban Development; Former Congressman; Directorships include: Empower America; Proxicom, Inc.; Oracle Corporation; Thomas Weisel Partners. |
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Robert
B. Shapiro Former Chairman of Pharmacia Corporation; Former Chairman & CEO of Monsanto Company; Directorships include: Rockwell International; Northwestern Memorial Hospital. |
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The SBIC Program As a licensed SBIC, Westbury enhances investor returns through the application of the leverage provided by the SBA. From a potential investee company's perspective, there is no noticeable impact related to our SBIC status. Westbury has a flexible and expeditious investment process that is not constrained by bureaucratic inefficiencies. The senior partners of Westbury maintain complete jurisdiction over all investment decisions. Disclosure requirements for SBIC investee companies are similar to those common throughout the private equity investment community. The only constituents impacted by our SBIC status are our limited partners, who are positioned to benefit from substantial IRR improvement as a result of this structure. For more information on the SBIC Program, see the SBA website: http://www.sba.gov/financing/investment.html
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Westbury Perspective The fusion of intellect and capital Westbury’s disciplined investment process revolves around high quality management teams. We actively support management by applying our diverse backgrounds and extensive investment and corporate advisory experience to address the unique needs of our investee companies. In partnership with management, we strive to build enduring, successful companies while providing superior returns for our investors. At Westbury, we adhere to an investment strategy designed for efficient and thorough evaluation of investment opportunities. Specifically, in order to warrant consideration, potential investee companies must demonstrate a preponderance of the following characteristics: • Experienced, Motivated Management • Recurring and Predictable Revenue Stream • Positive Culture In all of our investments, our objective is to add significant value to our portfolio companies. We work closely with management teams without compromising their control over day-to-day operations. Where appropriate, we will take an active Board role, which may range from Chairman to formal observer status. We avail all of our resources for the benefit of our portfolio companies, including our extensive network of contacts, industry expertise and broad transaction experience. As a committed partner, we provide active support in creating long-term value for our portfolio companies. |
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primary investment focus is on companies seeking mid- to later-stage growth
capital. Companies fitting our profile have demonstrated market demand
for their products or services. We may also invest in earlier stage companies,
given a compelling proprietary technology or market advantage. • Information Technology |
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Policies In general,
Westbury applies the following policies and guidelines regarding investments
and relationships with portfolio companies: |
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Process In reviewing potential investment opportunities, Westbury follows an institutionalized process which generally includes the following steps: Initial
Review: All business plans are reviewed promptly. Upon receipt of
a business plan, we first ascertain whether the proposed opportunity
is fundamentally consistent with our investment strategy. Plans not
meeting our investment parameters are respectfully declined via e-mail
or telephone. Westbury's due diligence process includes (i) subsequent meetings with other key members of the management team; (ii) extensive inquiries with past and present customers, vendors, competitors, and industry specialists; and (iii) detailed analysis of the financial projections, as well as the underlying assumptions. In select situations, we will engage independent consultants to assist in the evaluation of specific issues concerning the company or its industry. In transactions where Westbury is serving as a participant or co-investor, we will generally partner with the lead investor on due diligence in an effort to expedite our process. Throughout our due diligence process, we carefully assess most relevant alternative means and scope of prospective liquidity events. Transaction Terms and Structure: Concurrent with the completion of our due diligence process, Westbury finalizes structure and resolves all outstanding terms and issues. Westbury places high priority on ensuring there is appropriate alignment of incentives and interests throughout the equity capital structure. Definitive Agreements and Closing: In transactions where we serve as lead investor, Westbury's counsel prepares and reviews definitive agreements to be executed by all parties related to the investment. In all instances, we thoroughly review all definitive documentation. Timing: From initial due diligence through funding, Westbury adheres to an expeditious due diligence schedule. Throughout, we remain sensitive to the impact of this process on the company's management team and operations.Remain Actively Involved: Following the close, as partners with the investee company, Westbury provides the necessary resources and guidance to contribute to its success. |
Westbury
Portfolio Identifying opportunities to create success |
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recent news regarding Westbury's portfolio companies, see In the News |
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Authentium, Inc. |
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Visiprise, Inc.
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Invidi Technologies, Inc.
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XenoPort, Inc.
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AirWave Wireless, Inc.
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Ensequence, Inc.
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Quarry Technologies, Inc.
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OmniGuide Communications Inc. Photonic bandgap optical fibers for medical, industrial, military and telecommunications applications. Visit Site Status: Private |
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Aurora Flight Sciences Corporation Unmanned Aerial Vehicle design and manufacturing Visit Site Status: Private |
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Intelliden,
Inc. Business driven device management software Visit Site Status: Private |
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Partsearch
Technologies, Inc. Provides replacement parts and accessories Visit Site Status: Private |
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Qpass,
Inc. Software and services to enable wireless data applications Visit Site Status: Private |
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Advanced
Interactive Systems, Inc. World leader in tactical and judgmental weapons training systems Visit Site Status: Private |
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Top
Layer Networks, Inc. Network security solutions Visit Site Status: Private |
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Cryptek,
Inc. Information security and encryption products Visit Site Status: Private |
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Applied
Discovery, Inc. Provider of electronic document discovery services to law firms and corporations Visit Site Status: Purchased August 2003 by LexisNexis/Reed Elsevier (NYSE: RUK) |
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Kenexa,
Inc. |
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Starpoint
Solutions, Inc. Provider of e-Business solutions and IT consulting services Visit Site Status: Private |
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Ligos
Technology Developer of real-time MPEG encoding and decoding software Visit Site Status: Private |
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Comet
Learning, Inc. Learning solutions for retailers, manufacturers and consumers Status: Private |
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Maxspeed
Corporation Provider of thin-client network solutions Visit Site Status: Private |
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Opus
360 Corporation On-line provider of employment services for independent IT consultants Visit Site Status: Completed IPO April 2000; merged with Artemis International July 2001 |
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Matcom
International Corp. IT services provider primarily to the Federal government Visit Site Status: Purchased in 2004 by SI International |
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Confluence
Holdings Corp. Leading designer, manufacturer and distributor of kayaks and canoes Visit Site Status: Private |
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Netschools,
Inc. IT-education solutions provider for K through 12th grade Visit Site Status: Private |
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Andromedia,
Inc. Web-site database management solutions provider Visit Site Status: Purchased December 1999 by Macromedia (NASDAQ: MACR) |
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Mpower
Communications, Inc. (NASDAQ: MPWR) |
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Gray
Peak Technologies, Inc. Network integration services provider Status: Purchased June 1998 by US Web, which then merged to become marchFIRST |
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ADcom
Information Services, Inc. Service provider of electronically measured cable-audience demographics Visit Site Status: Private |
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Ranpak
Corp. Specialty packaging manufacturer Visit Site Status: Private |
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TEC
Direct, Inc. |
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For recent news regarding Westbury's portfolio companies, see In the News
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Contact Us Westbury Partners 100 Motor Pkwy |
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Submit
Your Plan |
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Submit
Resumé If you are interested in exploring employment opportunities available through Westbury, forward your resumé to resumé@westburypartners.com. |
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Our Offices Westbury Partners 100 Motor Pkwy
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Westbury Partners © 2001 |