BANYAN INVESTORS LLC
MIAMI, FLORIDA

Banyan Fund, L.P. was founded in 2002 to provide mezzanine capital to smaller middle-market companies headquartered primarily in the Southeastern United States. Mezzanine capital is used to supplement a company’s debt capacity beyond banks’ credit limitations and is a substantially cheaper and less dilutive alternative to equity financing. With over $250 million of committed capital from Fund I (2004) and Fund II (2007), we can provide financing of approximately $2 million to $8 million to companies which meet our investment criteria, generally structured in the form of subordinated debt with attached warrants (for the future purchase of common equity). Banyan can also arrange larger financings through its partners or affiliations with other firms. Such financings are typically used for growth expansion, acquisitions, recapitalizations and management buyouts. Banyan’s focus is on companies with seasoned management teams, revenues greater than $5 million, profitable high margin operations and in growing industry segments. We will not invest in start-ups, turn-arounds, or in real estate development, oil and gas operations or direct lending businesses. We strive to contribute beyond the capital we provide to our clients, by entering into a close partnership arrangement with management teams coupling high integrity with a desire to build substantial enterprise value. We expect to be active following the financing, making available our extensive corporate finance, lending and strategic management advisory experience. Generally, mezzanine financing (subordinated debt with warrants to purchase common stock) provides a financing alternative to companies with limited senior debt capacity and is substantially less dilutive than venture capital or other sources of equity. Interest rate on the debt will reflect the credit of the company. Banyan expects to form a close working partnership with each portfolio company’s management team with the ultimate goal of enhancing each company’s enterprise value. Our belief is that our capital commitment combined with our financial and operational expertise will provide each of our portfolio companies with a significant competitive advantage. Michalis has management responsibility for a number of portfolio investments and is involved in all aspects of fund management, due diligence and origination. Since September 2004, Michalis’s responsibilities have included the origination, underwriting and structuring of a number of portfolio investments. Proceeds from these investments were largely used to finance mergers and acquisitions, provide growth capital or fund general corporate purposes. Michalis is an active board member at a number of companies and provides each company’s management team with constructive feedback regarding short and long-term strategies, capital requirements, optimal financing structures and strategic alternatives. In 2002, Michalis moved to Miami and co-founded the Icon Group LLC, an independent investment management and advisory firm exclusively responsible for the corporate finance and investment activities of Grupo Financiero Uno (“GFU”). From 1997 to 1999 he was invited to join Goldman Sachs Asset Management’s (“GSAM’) London office as a global equity portfolio manager for GSAM’s institutional clients. There he was a member of a team of four portfolio managers focused on managing $1 billion in European Growth Equity. He was responsible for making top-down asset allocation decisions and sector and sub-sector allocations. Upon his return to GSAM in New York in late 1999, he worked directly with the Global Equity Chief Investment Officer as a business analyst responsible for a number of strategic projects and was active in all aspects of the group, including asset allocation, annual budgets, launching of new products and services, evaluating potential new product offerings, executing financial analysis, negotiating transactions, evaluation of portfolio management teams, and recruiting new marketing and investment professionals. Michalis began his career in 1996 as a fixed income analyst with GSAM in New York. His responsibilities included fundamental analysis of existing fixed income and currency clients’ portfolios. Michalis is an active board member of the following Banyan Mezzanine portfolio companies: ACENTO Advertising, Banker’s Exchange, Capitol BC Holdings, LLC, Capitol C Holdings, LLC, EnviroVac Holdings, LLC, Gowanda Holdings, LLC, HydroVac Industrial Services, Inc., Magnuson Products, LLC, MPD/Silar , Paxen Learning, Silverchair Science & Communications, Supply Source, LLC. Michalis received his MBA from the Fuqua School of Business at Duke University where he was a Fuqua Scholar and his undergraduate degree in Economics (Finance & Strategic Management) from the Wharton School at The University of Pennsylvania. was founded in 2002 to provide subordinated debt and equity to smaller middle- market companies headquartered in the U.S. The capital we provide is primarily used for change of control transactions, acquisitions and to strengthen a company’s balance sheet and supplement its debt capacity.