About ACP

Who We Are

Austin Capital Partners, L.P. (or "Austin Capital") is a private equity fund headquartered in Cleveland, Ohio. The fund was formed in 2002 by its principals: Darrell W. Austin, William E. Conway and Charles R. Emrick, Jr. Prior to forming Austin Capital, our principals and investors invested informally together in multiple transactions over the years.We are an experienced and cohesive team.

While our investment criteria are flexible and opportunistic, our primary market focus is on smaller private companies that are transitioning ownership to achieve liquidity, diversify risk, or obtain needed growth capital.

Our investors include a number of highly successful operating executives who can invest additional capital with the fund, through co-investments, and who can lend their operating expertise to the fund's portfolio companies as appropriate.

What is Unique About Austin Capital

In conversations with professionals, management teams, and business owners, a number of themes recur about the uniqueness of our team and our approach to private equity:

• We are one of the few private equity funds in Northeast Ohio focused on transactions valued under $20 million.
• We will consider investing in a minority equity position under the appropriate terms and conditions.
• We will bring significant operating expertise to our portfolio company investments through the active board- level involvement of one or more of our Advisory Board members.
• We will back proven management teams, but we can replace senior management with proven operating executives if desired.
• We will consider shareholder structures that provide management teams with a right to acquire a portfolio company at the time of sale.

Our Philosophy

Austin Capital seeks to obtain superior long-term returns on invested capital. Over the years, we have found that we can achieve this goal by following some fundamental principles:

• Structuring creative but prudent capital structures that enable us to simultaneously satisfy the goals of a business owner while minimizing financial risk;
• Supporting proven management teams that are our equity partners, and whose long term interests are aligned with ours;
• Building a portfolio of companies which share an established history of profitability and a range of products or services that have a sustainable competitive advantage;
• Appropriately leveraging the experience and skills of our team of investors—experienced executives themselves.

Austin Capital's Role With Portfolio Companies

Our operating partners—the senior manager or managers in our portfolio companies—retain direct responsibility for managing their portfolio company, developing its strategic business plan, and executing that plan.

Our team brings experience and expertise in the area of operations, corporate finance, corporate development, and strategic growth. Post-transaction, our role will be visible through active board participation, support of corporate finance initiatives, coaching, or project work if appropriate.

The Board of Directors of a typical portfolio company will include one or more of our General Partners, and one or more of our Advisory Board members, each of whom will be an active and valued member of the team.