Exton, PA

AllianceOne is among the largest providers of full cycle, accounts receivable management services in the United States. The Company offers comprehensive call center solutions and customized receivables management products for leading creditors in the financial services, healthcare, government, utility, retail, telecommunications, commercial and related markets. The third party consumer debt collection industry is a large, growing and highly fragmented market. AllianceOne's strategy is to add value at each stage of the receivables cycle and to augment internal growth through the acquisition and consolidation of strong regional and specialty third party accounts receivable management firms.

Columbia, MD

Applied Data Systems, Inc. (ADS) designs and develops "application-ready" embedded systems that provide core functionalities, including wireless, mobile, networked, sophisticated graphics, and Internet-connectivity for OEM markets. ADS delivers integrated hardware and software platforms that are seamlessly incorporated into end products, providing its customers minimized risk, accelerated time-to-market, reduced development costs, and enhanced design architecture. ADS' solutions include leading ARM/RISC technologies, including Intel StrongARM and next-generation XScale microprocessors, and RTOS/Windows CE and CE.NET/ Embedded Linux operating environments.

Continental Waste Industries Inc. went public in November 1994 and, prior to its acquisition by Republic Industries Inc. (a predecessor company of Republic Services Inc. - Nyse: RSG) in 1996, provided integrated waste management services to more than 175,000 residential, commercial, and industrial customers in concentrated, regional markets mainly in the midwestern and midsouthern United States.

CrossMedia Services is a leading provider of Web-based marketing solutions for national and local retailers. Through its award-winning SmartCircular and SmartCatalog services, CrossMedia transforms traditional print-based retail promotions (such as sales circulars, catalogs, run-of-press ads, direct mail, etc.) into compelling search-based interactive formats. CrossMedia's clients include many leading national retailers. In May 2004, CrossMedia was acquired by a joint venture of Gannet, Knight Ridder, and Tribune, three preeminent national newspaper companies.

Scottsdale, Ariz

Cyclone Commerce is an enterprise software company which provides solutions that allow companies to connect, manage and collaborate with their business partners over the Internet. Cyclone Commerce solves a unique and urgent problem for global 2000 businesses: the need to extend their enterprises "outside the four walls" to dynamically exchange and manage business critical information and commerce transactions with suppliers, customers and other partners.

Dynamic Healthcare Technologies was a leading provider of mission critical health care information systems for clinical services departments and facilities. It developed, marketed, and supported a broad line of image-, voice-, and web-enabled information systems solutions for anatomic pathology, radiology, laboratory, surgery, and health information management. DHTI's information systems were installed in more than 650 customer locations across the U.S. and Canada. DHTI became publicly traded on Nasdaq prior to its acquisition by Cerner Corp. (Nasdaq: CERN) in 2001.

Eastern Environmental was a regional solid waste management company, based in Florida. The company was acquired by Waste Management (NYSE:WMI).

Hunt Valley, MD

FutureHealth provides disease, case and utilization management designed to identify and effectively manage high-risk and non-compliant health plan members, resulting in more appropriate and less costly medical utilization. These services and products are particularly valuable to employers assuming the financial risk for healthcare services. Over the last decade, FutureHealth has developed a unique set of skills, processes and capabilities that have enabled it to reduce its clients' levels of overall inappropriate medical utilization. At the same time, it has been able to improve the overall quality of patient care within its clients' populations. Currently, FutureHealth provides its services to more than 250 clients with more than 650,000 covered lives.

ImageCafe.com was a website superstore selling pre-created, semi-custom, professionally designed Websites for image-conscious small business owners seeking a professional looking Web presence without the high costs associated with hiring a Website design firm. It also offered content management tools enabling purchasers to easily customize and update the content (pictures and text) without the user having to know HTML or FTP. The company was acquired by Network Solutions (NASDAQ:NSOL) in 1999.

New York, NY

Medsite is a leading online marketing company, providing educational and value-based interactions with over 50% of US physicians. The company offers its clients innovative solutions and services through its two sales divisions: Physician Access Solutions (PAS) which focuses on providing solutions directly to pharmaceutical and biotech companies and Medsite Partnership Services (MPS) which focuses on providing services to pharmaceutical marketing and communications companies

National Recovery Systems Inc. specialized in blending, agglomerating, and recycling waste materials and by-products for heavy industry. NRS used its proprietary binder technology to manufacture a briquette, comprised primarily of steel-mill waste, that is suitable for recharging back into the steel-making process. The company owned and operated National Briquette Corp., which processed blended and packaged products and high-volume by-products for both integrated and mini-mills. The company also owned and operated on-site waste-recycling/agglomerating facilities at three integrated steel mills in East Chicago, Detroit, and Pittsburgh. Brambles Industries acquired NRS in 2000.

netBOA (formerly Cobra Administrative Services Inc.) outsourced COBRA benefits administration, HIPAA (Health Insurance Portability and Accountability Act) administration, and retiree benefits transaction processing for large corporations. The company distinguished itself by offering more custom service than most of its competitors. Its clients included a large airline, utilities, and a regional telephone company. netBOA was acquired by Automatic Data Processing Inc.'s Major Accounts Services (NYSE: ADP) in January 2000.

NuCO2 is the largest and only nationwide provider of bulk CO2 products and services for the U.S. foodservice and hospitality industry. With service locations within reach of virtually all of the fountain beverage users in the Continental U.S., NuCO2's experienced professionals comprise the largest network of sales and support specialists in the industry; serving national restaurant chains, convenience stores, theme parks and sports and entertainment complexes, among others. NuCO2 employs over 600 individuals, and has over 100 locations servicing approximately 100,000 bulk and high pressure customers across the U.S.

Omnipoint Corporation was a leader in commercializing PCS and a leading developer and supplier of wireless communication technologies. As a pioneer in the industry, Omnipoint was at the forefront of developing advanced wireless technologies including GSM, GPRS packet data, EDGE, positioning, and Internet access. Omnipoint was the fourth-largest PCS licensee in the United States based on pops, having had licenses to serve areas covering nearly 100 million people in the eastern half of the United States. Omnipoint was acquired by VoiceStream Wireless Corporation in 2000. VoiceStream was subsequently acquired by Deutsche Telekom (NYSE: DT), now T-Mobile.

Irvine, CA

Paciolan is a leading ticketing enabler, providing ticketing, fundraising and marketing technology solutions for top venues across North America. Paciolan provides a wholly integrated infrastructure that puts venues in direct control of their customer relationships, brands and revenue potential. Primary markets include performing arts, college athletics, professional sports, museums, and arenas. Collectively, Paciolan clients sell over 100 million tickets annually representing approximately 25% of all live event tickets sold in the US.

Specialty healthcare was a leading provider of behavioral and physical rehabilitation clinical services within the acute care hospitals. Argentum provided the equity capital to support a management buy-out of this division of national Medical Enterprises (now Tenet). After operating successfully as an independent company for 2.5 years, the company was acquired by industry leader, Horizon Health Corporation, in a transaction that generated over a 4-fold return.

SPI Manufacturing was the largest designer, manufacturer and wholesaler of commercial and light industrial modular building structures. In 1998, the company merged with Modtech Holdings Inc. (Nasdaq: MODT), the largest manufacturer of modular, relocatable classrooms.

TCI Solutions provides software solutions and services that enable in-store automation of inventory tracking, accounting, and other functions to help retailers improve operational efficiency. TCI's software solutions were installed at more than 14,000 locations world-wide. They integrate workforce, financial, and customer information at both the headquarter and individual store levels. In 2005, TCI was acquired by Retalix Ltd. (Nasdaq: RTLX), a provider of enterprise-wide software solutions for the global food and fuel retail industries.

Tut Systems Inc. (Nasdaq: TUTS) is a leader in high-speed data connectivity over public and private copper wire. Tut Systems provides reliable, low-cost, high-speed data connectivity solutions for LAN extension, xDSL Internet access, and home networking.

USA Waste Services, which acquired Waste Management in a transaction valued at $13.5 billion and changed its name to Waste Management, Inc. (NYSE: WMI), became the largest solid waste management company in the world. Argentum's investment in USA Waste Services came through Envirofil Inc., a solid waste management firm that merged with USA Waste.

VPNet Inc. designed, developed, and marketed solutions that allowed corporations to cost-effectively use virtual private networks while preserving network and application scalability, performance, and security. The company specialized in dedicated hardware network security products that performed at high-speed levels not attainable in software-only solutions. VPNet was acquired by Avaya Inc. (NYSE: AV) in February 2000.

White Cap, with 42 branch locations throughout the Western U.S. as of March 2000, is the largest domestic specialty supplier of tools and materials to industrial and commercial construction contractors. White Cap provides one-stop, high service solution to large professional contractors that demand a high service component from their supplier relationships. These services include expert technical advice (on and off the job site) during planning and construction, high order fill rates and innovative products that benefit the construction process and simplify the ordering, tracking and administration of their projects.

Zemex (NYSE:ZMX) is a producer of industrial minerals, specialty materials and metal powders and, through its Alumitech division, reprocesses aluminum drosses with patented zero discharge technology. Zemex operates facilities across the United States and Canada. Its products are used in a variety of commercial applications and are sold throughout the United States, Canada and Europe.

The Zond Group->GE Wind Energy is a leader in the wind-powered energy-generating industry. GE Wind Energy develops and constructs wind-powered electric generating facilities both for itself and for sale to utilities and independent power producers. The company also operates and manages its own wind power projects and those sold to others. Argentum invested in the predecessor company of GE Wind Energy, Zond Group Inc., which was purchased by EREC in 1996 and was subsequently acquired by GE Wind Energy.