PE-backed Vermont’s Original buys DAC assets

Vermont’s Original, a new company formed by Timepiece Capital and Gemini Investors, has acquired the assets of Dairy Association Company. No financial terms were disclosed. Young America Capital served as financial advisor to DAC in the deal. Based in Vermont, DAC is the maker of Bag Balm, a salve used for chapped and chafed skin. PRESS RELEASE MAMARONECK, N.Y.–(BUSINESS WIRE)–Young America Capital (YAC) announced the sale of assets of the Dairy Association Company, Inc. (DAC) to Vermont’s Original LLC, a new company formed by the two investment groups, Timepiece Capital Incorporated and Gemini Investors. YAC served as exclusive financial advisor to DAC in a transaction that resulted in an attractive valuation for the company’s stakeholders. Dairy Association Company is world renowned for its product Bag Balm®. Originally created to soften cow udders, Bag Balm’s soothing qualities have gone from the barn for cows to being used by bikers, gardeners, hikers, quilters, and many more. It has also been used as far and wide as the North Pole and in treating the paws of dogs searching the World Trade Center rubble after 9/11. Dairy Association engaged YAC to identify a buyer who would accelerate the company’s growth while honoring its name, culture and location in Vermont. With its long-standing experience in advising middle market businesses, Young America Capital garnered the interest of several interested parties in a comprehensive search. “Bag Balm’s strong and growing brand recognition among consumers brought a sizable level of interest from consumer goods focused private equity firms”, said Stanley Tobin, Senior Director of Investment Banking, who spearheaded the transaction. Vermont’s Original LLC., plans to freshen up the Bag Balm brand and increase sales. “We knew that being acquired by the right buyer was critical to Bag Balm’s future success. Young America lead our efforts and identified the perfect company,” said Barbara Norris Allen, the President of Dairy Association Company and the granddaughter of company founder, John L. Norris, Sr. “We’re extremely pleased that our unique strategic approach resulted in a transaction that aligned the right players at the right time,” said Peter Formanek, Managing Partner at Young America Capital. “This deal offers an opportunity for the buyer to continue a great Vermont legacy while expanding the possibilities and availability of Bag Balm in a vast marketplace.” About Young America Capital
Young America Capital is an independent FINRA/SEC licensed investment banking and advisory firm providing capital raising, buy and sell-side M&A advisory and alternative investment funds marketing services to the private equity, institutional and strategic corporate investor markets. About Dairy Association Company, Inc.
Made in Vermont since 1899, Bag Balm (www.bagbalm.com) is a salve used for soothing and softening chapped and chafed skin. The product still comes in the original, very recognizable green can which has remained unchanged for over 100 years. As word spread of the effectiveness of Bag Balm, it steadily grew and began to show up in many places, including as a provision in Admiral Byrd’s historic first trip to the North Pole in 1937 to protect against the harsh climate. The legend continued to grow in 1983 when Bag Balm was put on the map as a featured segment on Charles Kuralt’s “On the Road” series. About Timepiece Capital Incorporated
Timepiece Capital sponsors acquisitions or recapitalizations of exceptional lower middle market companies, typically with revenues under $25 million. Founded in 2004, Timepiece targets companies in strong, defensible industry niches and has successfully invested across diverse industries within manufacturing, distribution and service sectors. Principals of Timepiece possess hands-on experience working within entrepreneurial companies and enjoy teaming with senior management at Timepiece portfolio companies to deliver outstanding results. About Gemini Investors
Gemini is a private equity firm headquartered in suburban Boston that focuses on providing growth capital to, and financing recapitalizations of, growing, established businesses. Founded in 1993, Gemini has invested in over one hundred companies across a broad range of industries. Gemini is currently investing its fifth fund, Gemini Investors V, L.P., with approximately $200 million of committed capital. The firm’s long track record provides it with extensive experience investing in and supporting the continued growth of smaller, growth oriented businesses.

Danaos (DAC) Q2 2014 Results – Earnings Call Transcript

    <p>Danaos Corporation (NYSE:<a href='http://seekingalpha.com/symbol/dac' title='Danaos Corporation'>DAC</a>)</p> <p>Q2 2014 Results Earnings Conference Call</p> <p>July 29, 2014 10:00 AM ET</p> <p>
Executives

Iraklis Prokopakis - SVP and Chief Operating Officer Evangelos Chatzis - Chief Financial Officer

Analysts

Mark Suarez - Euro Pacific Capital Gregory Lewis - Credit Suisse

Presentation

Operator Thank you for standing by, ladies and gentlemen, and welcome to the Danaos Corporation Conference Call on the Second Quarter 2014 Financial Results. We have with us Mr. Iraklis Prokopakis, Senior Vice President and Chief Operating Officer; and Mr. Evangelos Chatzis, Chief Financial Officer of the company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. (Operator Instructions). I must advise you this conference is being recorded today, Tuesday, July 29, 2014. We now pass the floor to one of your speakers today, Mr. Chatzis. Please go ahead, sir. Evangelos Chatzis Thank you, operator. Good

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TubeMogul Secures $10M, Plans Asian to Singapore

Online video marketing company TubeMogul announced it has $10 million in a Series C tranche that was led by SingTel Innov8, the venture arm of SingTel Group. Cross Creek Capital joined the round and existing investors Digital Advertising Consortium, Foundation Capital and Trinity Ventures also participated. The Emeryville, Calif.-based company previously raised about $33 million in total funding, including a $20 million first tranche of the Series C in late 2012, according to data from Thomson Reuters (publisher of peHUB). the company has recently opened offices in Singapore and Sydney and, in conjunction with the funding announcement, has opened an office in Beijing.

PRESS RELEASE

TubeMogul Raises $10 Million for Asian Expansion

Second tranche of the company’s Series C financing, led by SingTel Innov8, will be used to expand programmatic buying of video ads worldwide

Singapore – May 29, 2013 – TubeMogul announced that it successfully completed the second tranche of its Series C funding today. The funds will be used to expand the footprint of programmatic buying of video advertising throughout Asia.

TubeMogul is backed by venture capital from a diverse group of financial and media heavyweights from both Asia and the United States. This round of financing was led by SingTel Innov8, the corporate venture capital arm of the SingTel Group. Cross Creek Capital, a venture fund associated with Wasatch Advisors, also participated in this round along with existing investors Digital Advertising Consortium, Foundation Capital and Trinity Ventures.

“TubeMogul fits perfectly into our strategy of investing in top advertising companies that are poised for rapid growth in Asia,” says Punit Chiniwalla, Director, SingTel Innov8. “We are impressed by the product and team on the ground and look forward to working more closely with the company.”

The company plans to use the capital to ramp up information technology infrastructure and hires in a region where it is already seeing traction. In the past year, TubeMogul’s offices in Singapore and Sydney have grown from having a handful of sales executives to full teams spanning account management, marketing, and operations and planning. In addition, TubeMogul Japan, which was launched in February and led by CEO Masahiro Kano, has already signed on with several of the country’s leading advertisers, including Digital Advertising Consortium and Omnibus.

In line with its expansion, TubeMogul opened an office in Beijing today, headed by Director of Business Development Sven Rossbach. Previously, Mr. Rossbach helped Cadreon (Interpublic Group’s trading desk) develop a presence in Asia, pioneering global technology partnerships. At TubeMogul, Mr. Rossbach’s responsibility is simple: introduce Chinese brand marketers and publishers to the programmatic buying of video ads, and grow TubeMogul’s presence.

“Our private investments are focused on high-growth, late-stage companies with the potential to become public companies and TubeMogul fits that bill,” says Karey Barker, CFA, Managing Director at Cross Creek Capital. “TubeMogul will continue to see high growth as marketers adapt to changing consumer viewing habits.”

“Partnering with best-in-class buying platform TubeMogul will help DAC continue to push the frontiers of real-time buying in Japan,” said Hirotake Yajima, President and CEO at DAC. “The result creates a powerhouse for marketers looking to harness the persuasive power of video advertising.”

“TubeMogul is simplifying what was once a complex ecosystem for brand marketers and quantifiably delivering on their goals,” says Ashu Garg, General Partner at Foundation Capital. “We look forward to continued collaboration with the company.”

“TubeMogul’s singular focus on the intersection of branding and technology is resonating with marketers. In just over four years since Trinity first invested, TubeMogul has become an undisputed leader in programmatic brand advertising. We are delighted that TubeMogul is building a world-wide organization to bring its solution to marketers around the globe,” says Ajay Chopra, General Partner at Trinity Ventures.

About TubeMogul
TubeMogul is the leader in programmatic brand marketing. The world’s largest brands and agencies centralize their video advertising on TubeMogul’s enterprise platform. Created specifically for brand marketers, TubeMogul’s platform enables the execution of scalable digital video campaigns, while providing the measurability and accountability marketers demand. Founded in 2006, TubeMogul is based in Emeryville, CA with offices in New York, London, Tokyo, Singapore, Sydney, Toronto, Chicago, Detroit, Austin and Los Angeles.

About SingTel Innov8
SingTel Innov8 (Innov8), a wholly-owned subsidiary of the SingTel Group, is a corporate venture capital fund, with its own set of decision making, approval and funding processes. It has an initial fund size of S$200 million. Innov8 focuses its investments on technologies and solutions that lead to quantum changes in network capabilities, next generation devices, digital content services and enablers to enhance customer experience. It works closely with the ecosystem of leading innovators, developers, government agencies, R&D and capital providers to bring cutting-edge technologies and solutions to the various markets the SingTel Group operates in.

About Cross Creek Capital
Cross Creek is a venture capital firm founded in 2006 inside of Wasatch Advisors, Inc. Through its direct investment strategy and fund investment strategy the firm seeks to invest in what we believe are high-quality late-stage companies and top-tier venture capital funds. The strategies are mutually beneficial in their goal to strengthen ties between private and public investors and to achieve above market returns for limited partners.

About Digital Advertising Consortium
As an Advertising Business Integrator building a new business model to meet the needs of the era of Internet Media, D.A.Consortium Inc. (DAC) is contributing to the development of the 21st Century’s Advertising Media. We provide excellent client services based on our three main services: Media, Operations and Technology.

About Foundation Capital
At Foundation Capital, we’re dedicated to the proposition that one entrepreneur’s idea, with the right support, can become a business that changes the world. We helped Atheros create the mobile Internet, EnerNOC invent the energy demand response market, and Netflix revolutionize media distribution and consumption, among many others. We’re currently invested in more than 80 high-growth ventures in the areas of consumer, information technology, software, semiconductors, and clean technology including BoardVantage, Chegg, Coverity, Lending Club, MobileIron, Simply Hired, Sunrun, TubeMogul and Venafi. Foundation Capital’s eighteen initial public offerings include Envestnet, Financial Engines, Netflix, NetZero, Responsys and Silver Spring Networks. For more information, please visit www.foundationcapital.com.

About Trinity Ventures
Trinity Ventures is a boutique early stage venture firm with an unwavering dedication and respect for entrepreneurs. We are smart, focused, passionate professionals with significant experience, deep expertise and a sincere commitment to help entrepreneurs build enduring companies. We were founded in 1986 by two entrepreneurs who saw the opportunity for a different approach to venture capital — an approach long on collaboration, short on hierarchy, and with none of the “our way or the highway” mentality