Vinhedo, São Paulo, Brazil
Initial Investment: May 2016
AGV Logística is a market-leading, third-party logistics (3PL) service provider with integrated warehousing and transportation solutions, primarily serving animal health and human health industries but also fast moving consumer goods (FMCG) industries. The company is headquartered in Vinhedo, São Paulo, and has over 2,800 employees operating throughout Brazil. AGV’s business model delivers increased efficiency by reducing fuel consumption and CO2 emissions through its Full Truckload (FTL) freight model and efficient fleet management, under strict norms of temperature and safety. AGV supports a more efficient protein supply chain and contributes to healthier food products, by ensuring effective delivery of key vaccines and medicines to farmers in all regions of Brazil.
América Latina Logística
Brazil and Argentina
Initial Investment: December 1998
Exited: Various Dates
América Latina Logística S.A. (“ALL”) began operations as an independent railroad company in 1997. The core Brazilian network was the result of privatization efforts designed to attract investment to an underutilized and poorly maintained rail sector. ALL expanded in 1999 with the acquisition of two rail concessions in Argentina. Today, ALL is the largest independent integrated logistics operator in South America with a network of over 16,000 kilometers of contiguous railway in Brazil and Argentina. The company’s operations cover an area representing over 60% of the GDP of the Mercosur trading block and serves many of the largest ports in Brazil and Argentina, including Paranagua, Buenos Aires, Rosario, and Rio Grande. Customers of the railway include some of the top agricultural and industrial companies in both Brazil and Argentina, covering sectors such as soy products and other grains, fuels, fertilizer, cement, wood products, and consumer goods.
Initial Investment: December 2000
Exited: March 2008
Athena Technologies, Inc. was formed in 1998 as a spinout from Aurora Flight Sciences Corporation to segregate and further develop its unique controls capabilities and realize the full value of Athena’s fault-tolerant control systems across their many industry applications, including energy systems and avionics. Athena was purchased by Rockwell Collins in 2008.
Aurora Flight Services Corporation
Initial Investment: September 1999
Exited: November 2017
Aurora Flight Sciences Corporation was founded in 1989 to develop high altitude robotic aircraft (UAV) for atmospheric science research for use in the study of global climate change. Aurora pioneered the technology needed for affordable high-altitude flight and produced several aircraft for various research organizations. Aurora is presently a subcontractor to Northrup Grumman and other major aerospace companies using UAV technology, with the company producing a significant portion of the UAV’s composite aero structures. In pursuit of its core business, the company has also developed ancillary technologies with pioneering applications in the avionic and general aviation fields. Today Aurora has several business units focused on a range of new technology development within its areas of expertise, including rapid prototyping of UAV’s new aircraft designs and aerospace systems, and construction of high-strength composite structures and aerospace applications.
Blue Ridge ESOP Associates
Initial Investment: January 2002
Exited: August 2003
Blue Ridge ESOP Associates, Inc. was founded in 1988 to provide independent administration and record-keeping assistance for qualified retirement plans, focusing on serving the needs of companies with employee stock ownership plans (ESOPs). Blue Ridge’s clients are U.S.-based companies. The company’s proprietary software systems are used to manage and process vast amounts of record-keeping data subject to very complex state and federal regulatory requirements.
Blue Ridge Numerics
Initial Investment: April 2006
Exited: March 2011
Blue Ridge Numerics provides computational fluid dynamics software solutions known as CFdesign. The software enables the rapid design of efficient products and facilities by allowing engineers to quickly simulate a wide range of fluid flow conditions, through and around object designs, optimizing product design well before reaching the prototype phase. Blue Ridge was acquired by Autodesk in 2010.
Buenos Aires al Pacifico San Martin
Initial Investment: September 2000
Exited: August 2002
Buenos Aires al Pacifico San Martin S.A. (“BAP”) began operations in 1994 following the privatization of the Argentine rail lines, which was designed to attract investment to an underutilized and poorly maintained rail sector. BAP links production centers of industrialized products such as cement, wine, water, soy pellets and oil, minerals, and agriculture to ports and consumption centers such as Buenos Aires and Rosario. The company hauls more than 2 million tons of cargo per year and has a cargo base not generally subject to seasonal fluctuations. BAP was acquired by America Latina Logistica in 2002.
San Francisco, CA
Initial Investment: November 2006
Cantaloupe is a leading developer of complete wireless machine-to-machine communications solutions for the vending machine industry. Cantaloupe’s technology, embodied in its “Seed” platform, enables vending operators to centrally monitor the operating status and inventory of its machines through real-time data delivered over the Internet, thus increasing productivity and efficiency and lowering overall operating costs.
Initial Investment: May 2012
Chainalytics is a leading provider of analytical consulting services, business intelligence tools, and subscription-based proprietary logistics data to a growing number of the world’s largest and most complex companies. The company’s products and services enable customers to remove costs, reduce transportation needs, and build more robust and optimal supply chains.
Concord Enviro Systems
Initial Investment: August 2015
Concord is one of the largest providers of industrial water solutions in India with products that address waste water treatment, re-cycling and re-use, and modular desalination applications worldwide. The company is a pioneer in the development of membrane-based filtration solutions used successfully by over 300 customers in a variety of industries.
Initial Investment: 2013
Derive Systems, formerly SCT Delaware Holdings, Inc., is a software company in the automotive aftermarket industry. Derive’s software solutions are delivered through handheld devices that recalibrate a vehicle’s engine and transmission systems. This recalibration enables customers to enjoy increased performance and/or decreased fuel consumption, as vehicles can be optimized based on their actual usage (e.g., climate, topography, aftermarket parts installed, etc.) rather than the general stock settings found on vehicles from OEMs. Derive’s solutions are sold to both car enthusiasts looking for increased performance as well as corporate and municipal fleets looking to improve fuel efficiency.
Upper Marlboro, MD
Initial Investment: December 2012
ComRent International, LLC provides load banks for the testing and commissioning of primary and backup electrical generating and mechanical systems. Headquartered in Owings, Maryland, ComRent has 18 strategic locations in the United States, Canada, Brazil, and Saudi Arabia and can meet a wide variety of electrical and thermal load testing requirements anywhere in the world. ComRent built the first and only medium voltage load bank in the rental market for testing large, multi-generator plants and the first rack mount load bank with variable load, CFM, and wireless remote control.
Initial Investment: September 2000
Exited: Various Dates
Essex Corporation is an optical and digital signal processing company developing technologies and systems that enable next-generation products, such as fiber-optic transmission, wireless telecommunications, high-speed optoelectronic processors, and advanced semiconductor chips. Essex’s products and services incorporate high-throughput optoelectronic processors and receivers for: image, signal and data processing, advanced communications systems for government/defense applications, application to crucial environmental monitoring services (ground-penetrating radar and airborne geographical data collection), and magnetic resonance imaging procedures (high-speed MRI). Essex was purchased by Northrop Grumman in 2007.
Initial Investment: December 2000
Exited: October 2008
Geodex Communications was a Brazilian-based telecommunications company whose core asset is a fiber optic network primarily laid along railway rights of way. In 2000, these rights were spun out of America Logistica Latina (“ALL”). The company operates a 10,700 kilometer fiber network in southern and southeastern Brazil of which 25% is lit. Geodex’s primary business is in the carriers’ market, selling capacity to the main local operators. Throughout the investment period, Geodex made progress in adding corporate customers to become less dependent on the carrier market. In 2007, Global Village Telecom acquired Geodex.
Initial Investment: November 2009
Exited: November 2015
Greenko (London Stock Exchange: GKO) is a leading clean energy producer supporting India’s rapidly increasing energy demand and energy security needs. Since it was launched in 2006, the company has become one of the largest players in the renewable energy market in India, with a number of biomass and hydro projects spread across the country. These projects include 260 MW of operational power assets. Greenko is supported by an experienced team that has financed, developed, and operated significant portfolios of clean energy assets around the world.
Initial Investment: June 2017
GRO-WELL is the largest company in the Southwestern U.S. specializing in the production and marketing of natural/organic lawn and garden products. As the region’s largest green waste, wood waste and food waste recycler, GRO-WELL uses its proprietary composting process to make a full complement of organic garden products including soils, compost, mulch and wood chips from locally sourced waste materials that would otherwise end up in landfills.
The company operates eight advanced production facilities in Arizona, California, New Mexico, and Idaho, and owns some of the most recognizable Southwestern brands in the all-natural garden products segment including Garden Time, Nature’s Way, Arizona’s Best and GRO-WELL. The company distributes its products through home and garden retailers including Lowes, Home Depot, Walmart, Menards, True Value and ACE, as well as local garden supply retailers, hardware stores and plant nurseries.
GRO-WELL also offers a full line of bird seed products including America’s Best bird seed blocks, which is sold nationally through Walmart. The company is also active in sourcing green waste for various waste-to-energy plants in Arizona.
Initial Investment: March 2007
Exited: July 2015
Haverfield is the leading provider of aerial power line inspection, maintenance, and construction support services to the electric power industry in the United States and internationally. The company services major utilities, improving the efficiency of the electricity grid by providing safe and cost-effective maintenance in remote, rugged terrain and environmentally sensitive areas that are costly to maintain conventionally.
Indian Energy Exchange
New Delhi, India
Initial Investment: September 2014
Indian Energy Exchange LTD. (IEX) is India’s premier power trading platform. Providing a transparent, neutral, demutualized and automated platform for physical delivery of electricity, IEX enables efficient price discovery and price risk management for participants of the electricity market, including trading of Renewable Energy Certificates and Energy Savings Certificates.
Integrated Cleanroom Technologies Limited (“iClean”)
Initial Investment: December 2012
Exited: December 2015
Integrated Cleanroom Technologies Limited (“iClean”) is engaged in design, manufacture, and installation of prefabricated modular cleanrooms and accessories, cleanroom equipment, air handling units (AHUs), and lab furniture. iClean provides manufacturers in various verticals, such as pharmaceuticals, biotechnology, and food and beverage, with a clean, safe environment in which to create uncontaminated products. Additionally, iClean’s solutions produce energy efficiency gains from better design and insulation, resulting in lower energy consumption and savings.
International Hospital Corporation
Initial Investment: July 2000
Exited: December 2009
International Hospital Corporation (“IHC”) was formed in 2000 as a holding company to build a hospital network in Brazil. Building on an initial three facilities, IHC has acted as a consolidator in the hospital market, capitalizing on the fragmented nature and uneven quality of care characterizing the industry. In Brazil, most facilities were too small to benefit from economies of scale and unable to fund needed capital expenditures to continuously improve service, a growth area for IHC.
Initial Investment: May 2012
Kalki Technologies provides products, services, and solutions that monitor, manage, and optimize energy generation and transmission assets for public and private sector utilities across the globe. Kalki’s primary customers service the power sector, including electric utilities, equipment manufacturers, system integrators.
Initial Investment: August 2008
Exited: September 2010
KEYW Corporation provides a rapid response engineering capability tailored to serve the intelligence, surveillance, and special military communities. The firm seamlessly integrates both organic and trusted partner capabilities into a single team to solve customer’s mission requirements. KEYW custom builds a specialized engineering team from the ground up, tailored to supporting their unique needs. Each engineering team is designed for QRC/rapid response and addresses every aspect of the life cycle: concept, engineering and development, test, production, field deployment, operation, and maintenance. Current customers include the National Security agency (NSA), other intelligence agencies, the Department of Defense, and other federal defense and law enforcement agencies.
Knight and Carver Wind Group
National City, CA
Initial Investment: December 2007
Exited: October 2010
Knight & Carver Wind Group provides repair and maintenance services to wind farm owners and operators throughout the United States. The company specializes in manufacturing, repair, and servicing of small- to large-scale wind turbine blades from a wide range of suppliers. Knight and Carver Wind Group was acquired by UpWind Solutions in September 2012.
Modern Asia Environmental Holdings
Initial Investment: April 2000
Exited: December 2005
Modern Asia Environmental Holdings Inc. (“MAEH”) develops and operates industrial waste facilities throughout Southeast Asia. MAEH is the sole provider of environmentally compliant hazardous waste disposal services in Indonesia and one of only two compliant providers in Thailand. MAEH provides an opportunity to address a troublesome environmental situation in the region where waste is disposed of in rivers and other uncontrolled areas in the environment.
São Paulo, Brazil
Initial Investment: May 2017
Luminae is leading lighting efficiency solutions provider located in São Paulo, Brazil that delivers lower energy cost and improved lighting to commercial and industrial customers. The company develops customized lighting projects, assembles high-energy efficient LED lamps, manufactures luminaires and installs the complete solution. Luminae’s projects significantly increase lighting quality and output, as well as reduce energy costs and CO2 emissions.
Neogas do Brasil
Caxias do Sul, Brazil
Initial Investment: April 2008
NEOgás is one of the leading providers of off-pipeline compressed natural gas solutions in Latin America. The company manufactures equipment for cost-efficient transportation and delivery of natural gas to clients in industry and retail refueling stations. NEOgás also provides full-service compression, transportation, and delivery services to clients that do not have access to gas pipelines. NEOgás continues to rapidly expand its business to other markets, including Peru, Colombia, Mexico, and the United States.
Initial Investment: June 1999
Exited: Various Dates
Niko Resources is a Calgary, Canada-based independent international oil and gas company with operations in India, Bangladesh, Indonesia, Kurdistan, Trinidad, Madagascar, and Pakistan. In 2000 Niko secured a 10% interest in the D6 Block located offshore on the east coast of India where Niko and its partner, Reliance Industries Ltd., have conducted successful exploration programs that resulted in the largest gas discovery in the world for the year 2002 with initial reserves of gas in place estimated to exceed 13 trillion cubic feet. In 2006 oil was discovered in the D6 Block with oil production commencing in September 2008. Niko is one of the largest exploration acreage holders in both Indonesia and Trinidad, has interests in 33 exploration blocks covering over 37 million acres (23 million net acres) in 7 countries and has production in India and Bangladesh.
Product Software Development
Initial Investment: May 1997
Exited: February 2001
Product Software Development, Inc. develops, markets, and supports enterprise asset maintenance software used by businesses, government agencies, and other organizations to assist them in maintaining high-value capital assets such as facilities, plants, and production equipment. The company currently operates under the name MRO Software, Inc. MRO complements its enterprise asset maintenance software with an Internet-based business-to-business e-Commerce network and set of desktop requisition and online procurement software products that enable businesses to engage in electronic commerce. MRO’s products allow customers to improve internal processes and compete more efficiently in an increasingly collaborative and electronic market. The company was acquired by IBM in 2006.
Initial Investment: June 2008
Red Ambiental is a leading solid waste management company in Mexico with operations in several cities. The company provides integrated, environmentally sound solutions to industrial, commercial, and municipal clients. Red Ambiental is continuing to expand its operations throughout Mexico to help address the country’s growing demand for compliant waste management services.
Renew Power Ventures
Initial Investment: July 2014
Renew Power Ventures Private Limited (“Renew”) is an independent power producer (IPP) with an expanding portfolio of assets, delivering cleaner, smarter energy choices and reducing India’s carbon footprint. ReNew’s portfolio generates close to 500 MW of non-conventional power across the states of Maharashtra, Rajasthan, Karnataka, and Gujarat.
Reva Electric Car Company
Initial Investment: November 2006
Exited: May 2010
REVA manufactures electric vehicles for the Indian and European markets. The cars offer maneuverability in cities with small roads and congested traffic, as well as quiet and clean operation, with low energy requirements. Reva was acquired by Mahindra & Mahindra, one of the world’s largest producers of cars, trucks, and tractors in May 2010.
Initial Investment: September 2013
Rishabh is engaged in manufacturing, design and development of Industrial Control Products and Test & Measurement Instruments, which have applications in power generation, transmission, consumption, control, protection and metering as well as in the instrumentation sector. Rishabh’s products enable optimization of energy consumption and automation of production processes. Rishabh operates from India and from its Polish subsidiary, Lumel.
Saisudhir Infrastructures Ltd.
Initial Investment: December 2010
Saisudhir is an engineering, procurement, and construction (EPC) company focused on water, power, infrastructure, solid waste management, and irrigation throughout India on behalf of municipal and state-level clients. Construction projects undertaken in recent years have included civil, mechanical, and electrical works associated with municipal water supply systems, sewage treatment systems, water treatment plants, power lines and substations, irrigation canals and regulators, solid waste landfills, and highways.
Companhia de Saneamento do Parana
Initial Investment: April 1999
Companhia de Saneamento do Parana (“Sanepar”) is the monopoly water and wastewater service provider for the state of Parana in southern Brazil. The company’s service area covers over 7.9 million people with water services and 3.6 million with sewage services. Sanepar has a strong fundamental business which is well respected throughout Brazil and Latin America. Sanepar’s technical expertise focuses on practices that have significant environmental impact, including reducing water lost to leakage, upgrading sewage treatment practices, and rationalizing the use of chemicals.
Initial Investment: August 2005
Exited: April 2009
Sensicast provides solutions for managing, monitoring, and deploying wireless mesh sensor network systems to the manufacturing industry. The company has developed a proprietary, robust wireless networking protocol that operates reliably in difficult environments where RF communications are challenging. Its sensors are used to increase manufacturing efficiency in a wide variety of industrial applications, including temperature, chemical, and airflow sensing. Sensicast was acquired by Amgas in April 2009.
Initial Investment: November 2014
Shakti Pumps (Shakti) is a leading manufacturer of India’s first Bureau of Energy Efficiency (BEE) five-star rated pumps. Shakti’s high efficiency, 100 percent stainless steel pumps and solar pumps are used for agriculture, industry, and commercial applications. The company has been recognized by the government of India for its expertise in manufacturing.
Signature Controls Systems
Initial Investment: July 2005
Exited: April 2015
Signature Controls provides an innovative, integrated process control system, SmartTag, to industries manufacturing non-metallic products. The company’s technology addresses critical manufacturing issues in markets such as engineered wood products, molded thermoses plastics, molded rubber products, thermoplastics, molding compounds, and aerospace composites. The control system improves efficiency and minimizes waste while ensuring product quality.
San Rafael, CA
Initial Investment: October 2006
Exited: September 2015
SPG Solar is a leading solar solutions provider specializing in the development, design, and construction of solar photovoltaic systems. SPG has designed and installed over 900 grid-tied PV systems for homes, small businesses, and large-scale commercial and government facilities, addressing the rapidly growing demand for solar energy. In addition, SPG’s All Weather SunSeeker Tracker is providing businesses and communities in all weather conditions a reliable solar tracking system that maximizes returns. SPG was acquired by SunEdison in December 2014.
Initial Investment: December 2015
Tecverde is an innovative homebuilder located in Curitiba, Brazil that utilizes a construction system developed specifically for the Brazilian market. This unique system allows for approximately two-thirds of a home to be fabricated in an automated factory and completed with the installation of wall panels during final assembly at the home site. Tecverde’s wood-frame system delivers increased efficiency to the home construction industry by significantly reducing construction time, materials, carbon emissions and cost.
Initial Investment: February 2006
Exited: May 2010
Unirac is the leading provider of solutions and services designed to meet the needs of the solar installation industry. The company was acquired by Hilti Group in May 2012.
Hong Kong and Beijing, China
Initial Investment: March 2010
UPC is an independent renewable energy producer focusing on wind energy development in China. The company has wind farms totaling 150 MW in construction and more than 3 GW of additional projects in its pipeline for future development.
Tinton Falls, NJ
Initial Investment: February 2002
Exited: May 2005
Founded in 2001, Xymetrex, Inc. specializes in the remote monitoring and collection of metered power usage data. Xymetrex provides timely and accurate automated collection and reporting of electric power, natural gas, and water usage, as well as other building parameters to corporate utilities, municipalities, and energy service providers.