VSI Global Announces Matt Rudolph as President

PRESS RELEASE

CLEVELAND, Jan. 10, 2019 /PRNewswire/ - The Board of Directors of VSI Global, LLC ("VSI"), a portfolio company of Lakewood Capital, LLC and Spartacus Partners LLC, is pleased to announce Matt Rudolph has joined the Company, effective immediately, as President.

Mr. Rudolph joins VSI having most recently served as Vice President, Product Sales with STERIS/IMS. Prior to STERIS/IMS, Matt spent 18 years as Vice President of Spectrum Surgical Instruments and a member of the senior leadership team. At Spectrum, Matt led the daily operations of the Company that resulted in doubling sales over a 4 year period, and growing the company to 242 employees while achieving a 99% customer retention rate.  Matt commented, "I am fortunate and excited to join North America's largest commercial cleaning equipment remanufacturing company that for over 24 years has provided customers with fleet management programs to save time and money while providing a strong sustainability program."

Roger Knight, Chairman of VSI and Managing Partner of Lakewood Capital and Spartacus Partners, noted, "I am extremely pleased to have someone of Matt's caliber and experience joining the senior management ranks of VSI. As our business reach expands and our clients seek ever more sophisticated management of their equipment, Matt's history in developing turnkey programs for diverse organizations will be invaluable. VSI reputation is second to none when it comes to repair/remanufacturing of equipment and its sustainability record is unmatched in the industry. However, our capabilities in managing, monitoring and maximizing the utilization of a fleet of diverse assets across multiple locations gives us a unique combination to offer our clients. We are excited to support Matt and our incomparable team in the years ahead."

VSI Global is an international provider of repair and remanufacturing services of cleaning equipment to a broad client base, including a number of the larger retail companies in the world, as well as healthcare systems, educational facilities, government and office installations, and other high traffic environments. The Company's services provide its customers with a turnkey operation, lowering overall maintenance costs, increasing efficiency at the operations and corporate levels, and providing data analytics to manage and monitor diverse fleets of equipment in multi-location environments. VSI reporting capability supports best practice initiatives in chronically undermanaged operations. All of this is accomplished through the most environmentally sensitive program that exists in the industry. Additional information is available at www.vsiglobal.com, on the Company's LinkedIn page and by contacting Roger Knight, Chairman 207441@email4pr.com or Matt Rudolph, President: 800-997-8227 207441@email4pr.com.

Lakewood Capital was formed in 2007 to team with operating management to make control investments in private companies active in the lower middle market. Lakewood targets businesses that have developed a strong position in their core markets and are facing opportunities/challenges/transition as they move toward the next stage of their developments. Lower middle market businesses often reach a point where their existing resources, be they financial, operational or human, need to be expanded, adjusted and/or reallocated to continue to prosper. These times often occur when founding management seeks less active involvement, new market opportunities arise, growth outstrips current capacity, and/or the competitive landscape changes. Lakewood prides itself on partnering with existing management to capitalize on these times of transition, with the mutual goal of building stronger, more dynamic, more competitive operations in the process. Additional information is available at www.lakewoodcap.com and by reaching Roger Knight, Managing Director: 203-604-0863 207441@email4pr.com.

Spartacus Partners was established in 2015 as a sister company to Lakewood Capital, providing capital from family offices, and high net worth individuals to opportunities with an initial requirement below the target markets forLakewood's institutional partners. The close connection with Lakewood enables Spartacus investments to access resources atypical for businesses in their size range, while expanding the universe of potential opportunities investors associated with Lakewood can access.

Lakewood Capital Teams Up With L2 Capital to Acquire Orion Talent and Orion Novotus

PRESS RELEASE

DEVON, PA and ROWAYTON, CT – December 3, 2018 – L2 Capital Partners, L.P. (“L2” or “L2 Capital”) and Lakewood Capital, LLC (“Lakewood”) announced the acquisition of Orion ICS, LLC (“Orion Talent”) and its wholly owned subsidiary Novotus, LLC (“Orion Novotus” and with Orion Talent, collectively, “Orion” or the “Company”), together, a leading human capital management platform offering a unique combination of military, skilled professional, and Recruitment Process Outsourcing (“RPO”) solutions. The Company is comprised of a core military hiring capability in Orion Talent and award-winning RPO services through Orion Novotus, thereby creating a unique end-to-end talent acquisition and recruitment process solution.

Founded in 1991, Orion Talent (www.oriontalent.com) has found careers for over 43,000 veterans and operates from offices located throughout the nation. In 2016, the Company expanded its service offerings by acquiring Novotus, now Orion Novotus (www.orion-novotus.com), a full-service RPO provider. The acquisition combined one of the largest military talent placement firms in the country with an award-winning RPO capability. In turn, the consolidated enterprise created a platform for evolution into a global full-service enterprise talent management and recruiting firm.  

Michael Starich, Chief Executive Officer of Orion, noted, “Our new partnership with L2 and Lakewood is a critical step in Orion’s path as we expand the scope of our operations. We think of Orion as not just a business – but a mission. And with the support of L2 and Lakewood in delivering on that mission, we are well on our way to becoming a global leader in recruiting excellence.”

Matt Klein, Partner, who led the transaction for L2, said, “It was a pleasure working with the Orion management team and Lakewood to complete this transaction. We are pleased to be able to partner with a business that executes for its clients through a differentiated and uniquely flexible operating model.”

Roger Knight, founding Partner of Lakewood Capital, added, “I have known members of management for over 10 years and their experience in the industry and dedication to clients and candidates is second to none. The collective experience of the investor group coupled with the strength and depth of Orion's management is a powerful combination to steer the Company through its next stages of development.”

PNC Bank, National Association (“PNC”) and Patriot Capital (“Patriot”) provided debt financing while Patriot co-invested in the transaction as well.

L2 Capital Partners (www.L2Capital.net) is a lower middle market private equity family office that specializes in making controlling or minority investments in business service, consumer product and manufacturing companies with enterprise values up to $65 million. L2 Capital adds value by helping business executives and owners meet their strategic and financial goals by providing access to professionals and resources gained over 40 years of principal investing experience.

Lakewood Capital (www.lakewoodcap.com) teams with operating management to make control investments in private companies active in the lower middle market. Lakewood targets businesses that have developed a strong position in their core markets and are facing opportunities/transition as they move toward the next stage of their developments. Lakewood prides itself on partnering with existing management to capitalize on these times of transition, with the mutual goal of building stronger, more dynamic, more competitive operations in the process. The firm’s unique structure allows it to fund transactions through internal resources or to team with institutional partners and family offices, such as L2 Capital, when the needs and goals of the transaction warrant it.

VSI Announces Jesse (JB) Blackwelder as new Chief Financial Officer

PRESS RELEASE

Cleveland, OH July 7, 2016 /PRNEWSWIRE/ - The Board of Directors of VSI Global, LLC (“VSI”), a portfolio company of Lakewood Capital, LLC and Spartacus Partners LLC, announced Jesse B. (JB) Blackwelder as the new Chief Financial Officer of VSI, effective July 11, 2016.  Mr. Blackwelder joins VSI having most recently served as Chief Financial Officer of Crown Battery Manufacturing Companies, where he led the company’s finance function, including numerous data analysis initiatives that contributed to the company achieving the highest profits in its history.

JB began his career at Arthur Anderson after graduating with a B.A. in Economics from Stanford University and having played for the Stanford Golf Team. Following Arthur Anderson, JB rose to Regional CFO at Enterprise Rent-A-Car before becoming CFO of Thorson Companies in Sandusky, OH. JB stated, “I had been looking for a business where I felt I could contribute not only in the finance space but across all key areas of a growing business. VSI’s entrepreneurial spirit, institutional ownership, and focus on building a world class organization was a perfect fit for me.”

Roger Knight, Chairman of VSI and Managing Partner of Lakewood Capital and Spartacus Partners, noted, “I am extremely pleased to have someone of JB’s caliber and experience joining the senior management ranks of VSI. Since our acquisition of the Company in February 2015, we have been putting in place the infrastructure and building blocks to ensure state-of-the-art service and care to our rapidly expanding customer base. JB is an integral part of that process and we are confident he will contribute significantly to managing our growth over the coming years.”

Max Lambright, Chief Executive Officer of VSI added, “JB has spent many years in larger organizations developing best practices across all aspects of those organizations. I look forward to teaming with him and the rest of the VSI team in furthering our goals for VSI as a world class provider of repair and remanufacturing services to national and multi-national customers across a wide spectrum of industries and disciplines.”

VSI Global is an international provider of repair and remanufacturing services to a broad client base, including a number of the largest retail companies in the world. The Company’s services provide its customers with a turnkey operation, lowering overall maintenance costs, increasing efficiency at the operations and corporate levels, and providing data analytics valuable to identifying and supporting best practice initiatives. Additional information is available at www.vsiglobal.com and by contacting Max Lambright, Chief Executive Officer: 800-997-8227 x212 mlambright@vsiglobal.com.

Lakewood Capital was formed in 2007 to team with operating management to make control investments in private companies active in the lower middle market. Lakewood targets businesses that have developed a strong position in their core markets and are facing opportunities/challenges/transition as they move toward the next stage of their developments. Lower middle market businesses often reach a point where their existing resources, be they financial, operational or human, need to be expanded, adjusted and/or reallocated to continue to prosper. These times often occur when founding management seeks less active involvement, new market opportunities arise, growth outstrips current capacity, and/or the competitive landscape changes. Lakewood prides itself on partnering with existing management to capitalize on these times of transition, with the mutual goal of building stronger, more dynamic, more competitive operations in the process. Additional information is available at www.lakewoodcap.com and by reaching Roger Knight, Managing Director: 203-604-0863 rknight@lakewoodcap.com.

Spartacus Partners was established in 2015 as a sister company to Lakewood Capital, providing capital from family offices, and high net worth individuals to opportunities with an initial requirement below the target markets for Lakewood’s institutional partners. The close connection with Lakewood enables Spartacus investments to access resources atypical for businesses in their size range, while expanding the universe of potential opportunities investors associated with Lakewood can access.