Wayzata Investment Partners

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Phone: (952) 345-0700
701 East Lake Street, Suite 300
Wayzata, MN 55391

Perkins & Marie Callender’s operates two restaurant concepts: (1) full-service family dining restaurants that serve high quality, moderately-priced breakfast, lunch and dinner entrees under the name Perkins Restaurant and Bakery, and (2) mid-priced, casual-dining restaurants specializing in the sale of pie and other bakery items under the name Marie Callender’s Restaurant and Bakery. Perkins, concentrated in Midwestern and Southeastern states, has 134 company-owned and 261 franchised restaurants. Marie Callender’s, located in California and the Southwest, operates 38 company-owned and 28 franchised restaurants. The company’s websites can be found at www.perkinsrestaurants.com and www.mariecallenders.com.

Headquarters: Memphis, Tennessee
Industry: Restaurant
Year Restructured: 2011

The company’s website can be found at www.mastercraft.com.

Headquarters: Vonore, Tennessee
Industry: Manufacturing
Year Restructured: 2009

Grede Holdings LLC was a leading producer of engineered iron castings to the automotive, medium and heavy truck, and industrial markets. Grede supplied a broad variety of ductile, gray and high silicon moly iron castings to a diverse customer base. The company’s products included safety critical chassis, suspension and drivetrain components for automotive applications, highly engineered engine and chassis components for heavy duty truck engines, and large axle housings and other drive train components for heavy equipment and agriculture markets. Grede’s capabilities ranged from high volume automated castings to specially engineered low volume applications, with castings sizes from 1 lb. to 2,000 lbs. On June 2, 2014, Grede was sold to American Securities LLC, a U.S. private equity firm.

Headquarters: Southfield, Michigan
Industry: Foundry
Year Restructured: 2010

The company’s website can be found at www.neffrental.com.

Headquarters: Miami, Florida
Industry: Equipment Rental
Year Restructured: 2010

Merisant was a worldwide leader in the manufacture, marketing and distribution of low-calorie tabletop sweeteners.  Merisant’s products were primarily sold under the premium brands of Equal, Canderel and Pure Via.  At the time of sale, Merisant owned and operated manufacturing facilities in Manteno, Illinois and Teplice, Czech Republic and owned processing lines operated exclusively for the company at plants located in Bergisch and Stendal, Germany and Bangkrason, Thailand.  On October 3, 2014, Merisant was acquired by Flavors Holdings Inc., the parent of Mafco Worldwide Corporation.

Headquarters: Chicago, Illinois
Industry: Food
Year Restructured: 2010

Star Tribune Media Holdings Company is a media company serving Minnesota and the upper Midwest and was majority owned by private investment funds managed by Wayzata Investment Partners LLC. Star Tribune was sold on June 30, 2014 to Minnesota businessman Glen Taylor. At the time of sale, Star Tribune had the 7th-largest Sunday and 12th-largest daily circulation newspaper in the U.S., in addition to a number of other media properties including StarTribune.com, the most frequently visited online local news and information site in the Twin Cities.

Headquarters: Minneapolis, MN
Industry: Printing/Publishing
Year Restructured: 2009

Lazydays is a multi-site dealer of recreational vehicles (“RVs”) representing 22 manufacturers at five locations in Tampa, Florida; Tucson, Arizona and Colorado. The company’s original 126-acre Tampa site is the largest single-site RV dealership in the country and is currently the scene for the Travel Channel’s new reality TV series Big Time RV. Each site includes sales and service facilities. Over one million customers visit Lazydays annually. The company’s website can be found at www.lazydays.com.

Headquarters: Seffner, Florida
Industry: Retail
Year Restructured: 2009

Arrow was a market leader in the design, manufacture, sourcing, and marketing of DIY outdoor steel storage solutions. A global leader in steel consumer storage, Arrow had production / distribution facilities in North America , as well as international sales management representation throughout North America, Europe and South America. The Arrow product line included a wide range of steel outdoor storage solutions, including accessories, to meet the small and large storage needs of the end-user. Arrow was sold on November 13, 2015.

Headquarters: Breese, Illinois
Industry: Consumer Products
Year Restructured: 2010

Key Plastics was a leading supplier of a broad range of highly engineered, value-added plastic components and functional assemblies to manufacturers of light vehicles and their Tier 1 suppliers in Europe, North America and Asia. The company manufactured a wide array of plastic components and assemblies, including door handles, air registers, radio and climate control bezels, and other functional underhood and interior parts. Headquartered in Northville, Michigan, Key Plastics had 11 manufacturing facilities worldwide located in the United States, Mexico, Portugal, Germany, Czech Republic, and China. On December 22, 2016, Key Plastics was sold to MecaPlast Group, a portfolio company of Equistone Partners.

Headquarters: Northville, Michigan
Industry: Automotive Supplier
Year Restructured: 2009

Majestic Star is a regional gaming company that owns and operates three casino properties: Majestic Star and Majestic Star II located at Buffington Harbor in Gary, Indiana and Fitzgerald’s Casino & Hotel in Tunica County, Mississippi. The company’s casino properties collectively contain approximately 2,700 slot machines, 78 table games, 21 poker tables and 806 hotel rooms. The company’s website can be found at www.majesticstar.com.

Headquarters: Gary, Indiana
Industry: Gaming
Year Restructured: 2011

Portola was a leading designer, manufacturer and marketer of range of plastic closures used primarily in the non-carbonated beverage and institutional food markets. The company also produced a wide variety of plastic bottles. On October 22, 2013 Portola was acquired by Silgan Holdings Inc., a leading supplier of rigid packaging for shelf-stable food and other consumer goods products.

Headquarters: Naperville, Illinois
Industry: Packaging
Year Restructured: 2008

Super Service is a trucking and logistics company that provides services across the continental United States. Headquartered in Grand Rapids, Michigan, the company provides dry van freight and third party brokerage services. Super Service owns and operates approximately 800 tractors and 2,000 trailers. The company focuses on customers and markets that demand premium service in order to achieve attractive rates and develop long-term, service-oriented relationships. The company’s website can be found at www.superservicellc.com.

Headquarters: Grand Rapids, Michigan
Industry: Ground Transportation
Year Restructured: 2009

Tembec was an integrated manufacturer of forest products, including lumber, pulp, paper and specialty cellulose, serving customers worldwide. The company had operations in North America and France with approximately 4,000 employees and annual sales of about $1.6 billion. Tembec managed nearly 25 million acres of Canadian forestlands and earned Forest Stewardship Council Certification for all its direct-managed forests. Wayzata-managed funds exited Tembec on June 16, 2015.

Headquarters: Montreal, Canada
Industry: Paper & Forest Products
Year Restructured: 2008

Stallion is a Houston-based oilfield contractor that provides wellsite support and production & logistics services to exploration and production companies and other oilfield contractors. Stallion’s services include onshore and offshore workforce accommodations and remote camp complexes, surface rental equipment, solids control, communication services, wellsite construction, fluids handling and logistics. Stallion delivers its products and services in Texas, the Gulf Coast, Mid-Continent, Rocky Mountains, Appalachian Basin and Alaska’s Prudhoe Bay. The company’s website can be found at www.stallionoilfield.com.

Headquarters: Houston, Texas
Industry: Oil & Gas Services
Year Restructured: 2010

Propex is a leading producer of fabrics and fibers used in geosynthetics, industrial applications and concrete reinforcement. The company is the largest independent manufacturer and marketer of both primary and secondary carpet backing and operates a proprietary thermoforming line. The company’s website can be found at www.propexglobal.com.

Headquarters: Chattanooga, Tennessee
Industry: Building Materials
Year Restructured: 2009

Topack Fittings manufactures precision seamless and welded pipe fittings, flanges, piping spools and induction bends using stainless steel, carbon steel and alloy steel. Through its Tekno subsidiary, the company has set up a plant to manufacture forged parts and components. The company mainly supplies the oil and gas industry.

Headquarters: Vadodara, India
Industry: Steel Manufacturing
Year Acquired: 2011

Caraustar was one of North America’s largest integrated manufacturers of 100% recycled paperboard and converted paperboard products. The company developed its leadership position in the industry through diversification and integration from raw materials to finished products. Caraustar served the four principal recycled boxboard product end-use markets: tubes and cores; folding cartons; gypsum facing paper and specialty paperboard products. Caraustar was sold to an affiliate of H.I.G. Capital, LLC on May 1, 2013.

Headquarters: Austell, Georgia
Industry: Paper/Packaging
Year Restructured: 2009

Anchor was the third largest manufacturer of glass containers in the United States with approximately 18% market share. The company operated eight glass making facilities located in Minnesota, Florida, Georgia, Oklahoma, New York, New Jersey, and Indiana (2). Anchor emerged from Chapter 11 in April 2006. On August 20, 2012, Anchor was acquired by Ardagh Group, a rigid packaging company based in Europe.

Headquarters: Tampa, Florida
Industry: Packaging
Year Restructured: 2006

Hawkeye Renewables owned and operated two dry mill technology ethanol facilities located in Iowa Falls, Iowa and Fairbank, Iowa. On an annual basis, the two facilities can produce a total of 225 million gallons of denatured, fuel grade ethanol and approximately 850,000 tons of distillers grains (a high protein animal feed supplement). On February 17, 2011, substantially all of Hawkeye’s assets were sold to Flint Hills Resources, a subsidiary of Koch Industries.

Headquarters: Ames, Iowa
Industry: Ethanol
Year Restructured: 2010

Special Devices was a leading designer and manufacturer of precision engineered pyrotechnic devices for the automotive industry. SDI manufactured initiators, which function like electrical matches to ignite the gas generating charge in auto airbag and seat belt systems. The company manufactured its products at facilities in Arizona and Thailand as well as through a 50% owned joint venture in Germany. On April 16, 2012, SDI was acquired by Daicel Corporation.

Headquarters: Mesa, Arizona
Industry: Automotive Supplier
Year Restructured: 2009

RathGibson was a leading manufacturer of highly engineered premium stainless steel and alloy tubular products. The company’s products were used in environments that require high-performance characteristics such as exceptional strength and the ability to withstand corrosive materials, extreme temperatures or high pressure. RathGibson sold over 1,000 products globally in diverse end-markets, including (a) chemical/petrochemical processing and power generation; (b) energy; (c) food, beverage and pharmaceuticals; and (d) general commercial markets. On April 3, 2012, RathGibson was acquired by Precision Castparts Corp.

Headquarters: Lincolnshire, Illinois
Industry: Manufacturing
Year Restructured: 2010

U.S. Corrugated operated 20 full service manufacturing facilities including its state of the art recycled containerboard mill in Cowpens, SC. Along with its sister companies Mannkraft Corporation, a leading Northeast box maker, and U.S. Display Group, an award winning designer and manufacturer of point-of-purchase displays, the company was the nation’s premier independent corrugated packaging solutions provider. On October 21, 2011, U.S. Corrugated was acquired by Kapstone Paper and Packaging.

Headquarters: Newark, New Jersey
Industry: Packaging
Year Invested: 2008

Pliant Corporation was a leading producer of value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. The Company operated 21 manufacturing and research and development facilities around the world, and employed approximately 2,900 people. On December 3, 2009, Pliant was acquired by Berry Plastic Corporation.

Headquarters: Schaumburg, Illinois
Industry: Packaging
Year Invested: 2008

Ames manufactured and marketed a broad portfolio of tools for the non-powered lawn and garden industry, with an emphasis on long handle tools and wheelbarrows. The company’s brand portfolio included Ames, True Temper, Ames True Temper and Garant, as well as contractor-oriented brands including UnionTools, Razor-Back Professional Tools, and Jackson Professional Tools. Based in Camp Hill, Pennsylvania, the company manufactured product at multiple facilities and wood mills throughout the Northeastern United States as well as through several joint ventures in China. In September of 2010, Ames True Temper was acquired by Griffon Corporation.

Headquarters: Camp Hill, Pennsylvania
Industry: Manufacturing
Year Invested: 2007

Smurfit-Stone Container Corporation was a leading integrated manufacturer of paperboard and paper-based packaging in North America, including container board and corrugated containers. Smurfit-Stone had a mill capacity of 7.0 million tons, and was one of the largest paper recyclers globally. The company was based in Creve Coeur, Missouri. On May 27, 2011, Smurfit-Stone was acquired by Rock-Tenn.

Headquarters: Creve Coeur, Missouri
Industry: Paper & Forest Products
Year Restructured: 2010

A Wayzata-managed fund, through a portfolio company and its subsidiaries, purchased a 1,070 megawatt plant in Guadalupe County, Texas on March 3, 2011. Located 30 miles northeast of San Antonio, Texas, the combined-cycle, natural gas-fired plant was commissioned in 2000 and used GE 7FA combustion turbines and GE D11 steam turbines. The plant was sold to Calpine Corporation on February 26, 2014.

Headquarters: Marion, Texas
Industry: Independent Power Producer
Year Acquired: 2011

Minnetonka Tankers LLC and Minnetonka Tankers II LLC were formed to make investments in product tankers. Minnetonka Tankers LLC was comprised of two modern, medium-range (“MR”) tankers, which were sold in October 2015. Minnetonka Tankers II LLC is comprised of six MR tankers. Product tankers transport refined petroleum such as gasoline, diesel, jet fuel and naphtha from refineries. MR tankers are the most versatile and liquid assets in the overall tanker market.

Headquarters: Marshall Islands
Industry: Sea Transportation
Year Acquired: 2012

Midgard Shipping Ltd. and Midgard International Ltd. are each joint ventures between Wayzata-managed funds and a Norwegian operating partner. They are registered in the Cayman Islands and collectively own five 19,999 deadweight ton stainless steel Japanese-built chemical tankers. The Norwegian partner manages the chartering through its own pool operations as well as oversees technical management.

Industry: Sea Transportation
Year Acquired: 2012

The Sea Transportation–Dry Bulk platform consists of three handymax and one supramax dry bulk carriers: The vessels are held by companies that are majority-owned by Wayzata-managed funds, with a joint venture operating partner holding the remaining equity interests. The joint venture operating partner is an owner/operator of dry bulk vessels whose principals have significant experience operating, trading and sourcing vessels worldwide. Handymax and supramax vessels are well suited for small ports with length and draft restrictions or ports lacking infrastructure for cargo handling. Primary dry bulk cargoes are grains, cement, fertilizer, petcoke, coal, iron ore, scrap and finished steel.

Industry: Sea Transportation
Year Acquired: 2010

East Shore Aircraft was formed in December 2008 to acquire fifteen Boeing 757-200 aircraft from United Airlines, Inc. in a sale-leaseback transaction for approximately $138 million. The leases with United were at attractive rates for an average remaining term of seven years. The aircraft had been operated by United since new and were manufactured between 1989 and 1993. The portfolio represented approximately 11% of this fleet type at United, and the aircraft typically operated on transcontinental and certain overseas routes. East Shore Aircraft was sold to an entity formed by a financial investor on December 21, 2012.

Headquarters: Delaware
Industry: Aircraft
Year Acquired: 2008

The Mint Farm project was a 310 megawatt (MW) combined cycle natural gas-fired power generation plant located in Longview, WA. The plant was purchased out of the Mirant bankruptcy at which point construction was roughly 50% complete. A Wayzata-managed fund financed and oversaw the completion of the project over a twelve month period and managed commerical operations until Mint Farm was sold to Puget Sound Energy on December 5, 2008.

Headquarters: Longview, Washington
Industry: Independent Power Producer
Year Acquired 2005

Cascade Pacific Pulp (“CPP”) was a softwood kraft mill located in Halsey, OR that had the capacity to produce 180,000 tons of bleached and unbleached pulp per year for use in various paper products and building materials. The mill was acquired by a Wayzata-managed fund in June 2008 in a Chapter 7 bankruptcy sale for $31.2 million cash consideration which was formerly owned by Pope & Talbot, Inc. On February 2, 2010 the Fund closed on the sale of its 100% membership interest in Cascade to International Grand Investment Holding.

Headquarters: Halsey, Oregon
Industry: Pulp
Year Acquired: 2008

California Power Holdings (CPH) consisted of two natural gas-fired peaker power plants. The 45MW Red Bluff plant located approximately 100 miles north of Sacramento in Red Bluff, California. The 48MW Chowchilla plant located in Chowchilla, California, was outside of Fresno. Both of these assets were built by NRG Energy in 2001 and the Wayzata-managed Fund acquired them in January 2007. On June 30, 2011 CPH was acquired by EWP Renewable Corporation.

Headquarters: California
Industry: Independent Power Producer
Year Acquired: 2007

City North Associates, LLC, a joint venture between a Wayzata-managed fund and a real estate private equity firm, owns CityCenter of CityNorth (“CityNorth”). CityNorth is a 629,000 square foot, Class A mixed-use project in Phoenix, AZ that includes 99 luxury apartment units, 330,000 square feet of office space and 175,000 square feet of retail. The asset was purchased in April 2013 from a financial institution that had foreclosed on prior ownership. The property was built in 2008 by the Related Companies and remains one of the higher quality projects in the Phoenix market. CityNorth is located in North Phoenix near Highway 51 and the 101 loop in close proximity to Scottsdale.

Industry: Real Estate
Year Acquired: 2013

Cobalt Office Park Partners LLC, a joint venture between a Wayzata-managed fund and a real estate firm, owned a 376,000 square foot Class A office park in Alpharetta, GA. The property was comprised of two six-story buildings with 31,000 square foot floor plates. On July 22, 2016, the property was sold to an entity controlled by a private equity firm.

Industry: Real Estate
Year Acquired: 2013