Past Transactions

We have been involved in many successful turnarounds and equity raises, as well as putting together a $25,000,000 distressed debt venture fund; Genesis Venture Partners LP. The following are some of those successes and the actions taken to get there:


IntraServe

INTRASERVER: A high-performance; multi-function host bus adapter (HBA) integrated circuit board company

Initial Capital Investment:
$250,000 from Genesis and its Private Investor Mentors (“PIM’s”),
$500,000 from VC firm/strategic partner/client.
Total:  $750,000
Roles: 
Interim COO and CFO
Outcome: It was acquired within 3 years by LSI Logic for $70,000,000. IRR: 354%


microline

MICROLINE: A leading edge developer and manufacturer of laparoscopic medical instruments.

Initial Capital Investment:
$250,000 from Genesis and PIM’s;
$250,000 form MA Community Development Finance Corporation (“CDFC”);
$1,000,000 from VC firm
Total:  $1,500,000.
Role: 
Structured Business Plan
Interim COO and CFO
Took company through ISO 2000 and FDA approvals

Outcome:  Within 5 years it was acquired by Pentex for $48,000,000; IRR 100%


corning netoptix

OFC – NET OPTICS: A defense (“DOD”) manufacturer of optical lenses for missiles, satellites and optical communication systems

Role:
Workout Engagement:

  • The company was a Fleet Bank workout consulting assignment.
  • It had initially lost ($3.6 million) on $20 million in revenues.
  • It was insolvent and the bank was looking at a $4.6 million loan loss.

Outcome: 
The company was turned around to realize a $742,000 profit the next year
The bank realized a full recovery,
Then the company was sold for $2.1 Billion or 134 times revenues to Corning Corp.


colonial mills

COLONIAL MILLS: Braided Rug Manufacturer

Role:
Workout Engagement & Equity Raise:
Obtained a 90 day forbearance from the bank
Restructured the company
Developed a business plan to raise new equity
Outcome: 
Within the 90 days:

  • Obtained a $2,000,000 debt forgiveness from the existing investor group
  • Raised $780,000 of new equity
  • Obtained and closed on $500,000 of subordinated debt from 3 governmental agencies.
  • Replaced the existing bank with a new $1,500,000 multi-year committed revolver.

The company continues to operate today.


firetrace

FIRETRACEUSA: Fire suppression products company

Initial Capital Investment: Genesis and its Private Investor Mentors (“PIM’s”), invested
$1,000,000 Common Stock
$1,600,000 Subordinated Debt
Total:  $2,600,000
Roles: 
Co-founded the company
Developed a business plan to raise new equity
Acted as Interim COO and CFO
Raised all capital
Outcome:
Over a 5 year period, on $267 million of total revenues, FiretraceUSA has generated $123 million (46% of GS)  of net profits, with each year being profitable.


channel advisors

CHANNEL ADVISORS: A cloud-based e-commerce solutions company enabling retailers and manufacturers to integrate manage and optimize their merchandise sales across hundreds of online channels including Amazon, Google, E-Bay, Facebook and more.

Initial Capital Investment:
$2,000,000 Genesis fund;
$2,000,000 – E-bay
$2,000,000 – Southern Capital
Total:     $6,000,000
Roles:
Genesis acquired $200 million of Intellectual Property (“IP”) and founded Channel Advisors. 
It partnered with E-Bay and Southern Capital.

Outcome: 
Today it continues to operate as one of the prime cloud-based e-commerce auction engines in the market and has an estimated value is over $1.5 billion.


Other Genesis Transactions and Clients – Provided upon request