News

SPV Partner Acquires Own Company; Exits SPV

John Dalton, an SPV partner since 2003, acquired a controlling ownership position in Perceptics, LLC from Northrup- Grumman. Perceptics is headquartered in Knoxville, TN and provides sophisticated design and assembly of machine vision equipment. John has become the new CEO and will no longer be active in SPV.

SPV acquires Covington Industries, Inc.

On January 31, 2006, SPV, in partnership with Mr. Roger Gilmartin, CEO, Covington Industries, Inc. and Terbell Partners Ltd., acquired Covington Industries Inc. Covington is headquartered in New York, NY and Spartanburg, SC and is a leading converter of decorative and commercial fabrics. Please see our Portfolios Company section for more information. (click here to view deal tombstone)

SPV acquires Tucker Architectural Millworks, LLC

On December 13, 2005, SPV acquired Tucker Architectural Millworks, LLC (“TAM”). TAM (d/b/a “Tucker Millworks”), headquartered in Lithonia, GA, manufactures premium doors, windows, and molding for the historic renovation, luxury residential, and commercial construction markets. Please see our Portfolio Companies section for more information on this investment.

SPV acquires Aerial Access Equipment, LLC

On June 18, 2004, SPV, in partnership with Source Capital, LLC, acquired a controlling interest in Aerial Access Equipment, LLC (“AAE”).
AAE is headquartered in Baton Rouge, LA, and provides high-reach manlifts and aerial work platform rentals to the marine, petro-chemical, and construction industries in the Louisiana and Texas Gulf coast area. Please see Portfolio Companies for more information on this new investment. (click here to view deal tombstone)

SPV Partner Chairs 2004 ACG Atlanta Capital Connection / SPV Exhibitor

Ed Fisher, Managing Partner of SouthPointe Ventures, recently was Chairman of the 2nd annual ACG Atlanta Capital Connection event. The Atlanta Capital Connection is the largest gathering of M&A and private equity professionals in the Southeast U.S., and one of several regional events held throughout the U.S. The 2004 event registered 592 participants, and hosted 49 private equity and mezzanine debt exhibitors, both figures increases of over 30% from 2003’s event. SouthPointe Ventures was also one of the Exhibitors, which gave SPV significant exposure to new deal sources in and around their primary target market in the Southeast. Please see www.ACG.org/Atlanta for more information.

SouthPointe Adds New Partner

SPV is very pleased to announce the addition of John W. Dalton as its newest Partner. John comes to SPV after 14 years of significant operating roles, most recently as the COO of family-owned 90-employee international manufacturing company. John will be instrumental in sourcing, closing, and assisting SPV’s portfolio companies. Please join us in welcoming John to our team.