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December 2011 - ISSUE 10

EDITORIAL

Marc Beauchamp

I am pleased to inform you that effective today, Pascal Tremblay has been appointed as President, Managing Partner of Novacap Technologies III. As you know, Pascal joined Novacap 8 years ago. In addition, he has been in Private Equity for 15 years, having managed and successfully sold his company. Pascal is 42 years old and has the leadership skills to continue the development of Novacap Technologies.

For my part, I become Chairman of Novacap. I will continue my involvement in the Investment Committees of Novacap II, Novacap Industries III and Novacap Technologies III. My objective is to continue providing the entrepreneurial culture already established at Novacap while conserving this motivating team spirit that makes us excel. We will continue to search for good companies, managed by good management, with a good business model at the right price.

Please feel free to contact me, should you have any questions or comments.

Marc Beauchamp
Founder & Chairman

Best Wishes
Season Greetings and Best Wishes
for the year to come to you and your family
Novacap Team


PORTFOLIO UPDATE

Technomedia

On September 1, 2011, Technomedia completed the acquisition of Hodes iQ, an operating entity of Bernard Hodes Group (a subsidiary of Omnicom NYSE: OMC). Hodes iQ is a leading SaaS (Software as a Service) talent acquisition and management solution. Contact Alain Bélanger for more information.

Chemical Computing Group

On August 1, 2011, Novacap completed the acquisition of Chemical Computing Group (“CCG”), in partnership with its founder and president Paul Labute. Chemical Computing Group Inc. is a market leader in Computer-Aided Molecular Design (CAMD) software tools for global life sciences companies. The Company offers scientific software solutions for enhancing the process of identifying and characterizing drug candidates and modeling of biological targets. Founded in 1994, CCG is a software company headquartered in Montreal, with offices in the UK, Germany and Japan. CCG’s international customer base includes hundreds of pharmaceutical companies and academic research institutions, including ten of the twelve largest pharmaceutical research companies in the world. Contact Alain Bélanger for more information.

IWeb Group Inc.

On June 16, 2011, Novacap, in partnership with Caisse de dépôt et placement du Québec and Bank Street Partners, completed the privatization of iWeb Group Inc. (TSXV: IWB). Founded in 1996, iWeb provides Internet hosting services and IT infrastructure to over 25,000 customers in 154 countries. With its four data centers, iWeb’s total capacity has reached 34,000 dedicated servers, over 1,100 co-location cabinets and 77 Gigabits per second (Gbps) of Internet connectivity, from 9 separate providers. Based in Montreal, Canada, the company has over 200 employees. Contact Stéphane Tremblay for more information.

Idaho Pacific Holdings Inc.

On May 6th, 2011, Novacap has completed the acquisition of Idaho Pacific Holdings, Inc. (“IPH”), one of the leading processors of dehydrated potato products in North America. With a head office and manufacturing capabilities in Ririe, Idaho and additional manufacturing facilities in Center, Colorado and Souris, Prince Edward Island, IPH is truly a North American player and has access to different crop growing regions. The company supplies products for use in foods such as mashed potatoes, snacks, baked goods and frozen side dishes, and a full product line for the foodservice industry. Idaho Pacific customers include many of the largest domestic and international food manufacturers in the snack food, foodservice and baking industries. The company exports products to Europe, the Middle East, the Pacific Rim and to Central America. IPH employs 430 employees across its three processing plants. Contact Domenic Mancini for more information.

Plastic Enterprises Co., Inc.

On February 4,2011, IPL completed the acquisition of Plastic Enterprises Co., Inc. (“PE”). Plastic Enterprises Co., Inc. is an innovative manufacturer of injection-molded, thin-wall rigid plastic overcaps and containers. PE specializes in delivering total packaging solutions for the food processing industry. Since 1965, PE has been known for their dedicated team, robust quality systems and a commitment to technology which allows them to form true partnerships with their customers. PE is located in Lee’s Summit, Mo. Contact Michel Côté for more information.

Rosmar Packaging Corporation Inc.

On January 19, 2011, Novacap disposed of its investment in Rosmar Packaging Corporation Inc. The buyer of Rosmar Packaging Corporation Inc. is Paper Works, a company held by Sun Capital Partners, Inc, a U.S. private equity having $8 billion under management.


NOVACAP'S TEAM

David Lewin joined us in January 2011. David worked in investment banking at National Bank Financial and in Private Equity at PSP Investment, and he completed an MBA program prior to joining Novacap in 2011.


COMPANY NEWS

Tenrox

ViXS Systems Inc.

Stingray Digital

Creaform

PKWare Inc.

iWeb Group Inc.

Demers Ambulances

Nautilus Plus

Technomedia

Chemical Computing Group


About NOVACAP

Novacap is one of Canada's leading private equity firms. Since 1981, our partnership approach has helped companies accelerate their growth and maximize their value. With over $790 million under management, our goal is to help leading entrepreneurs build world-class companies. Our highly-experienced, multifunctional team understands the operational and financial challenges faced by today's organizations. We provide active support, deep operational expertise and growth capital to help companies with strategic competitive advantages realize their full potential.

Novacap is organized in two functional groups, each with its own team focused on building a strong portfolio in a given market sector:

  • Novacap Industries invests in middle market companies within traditional industries that have the potential to become world leaders by developing their market, technology and operations or through industry consolidation;
  • Novacap Technologies invests in companies focusing on growth and market leadership in the Information and Communication Technologies sector. It partners with first-rate management teams and actively works with them to build leading organizations in their markets.

While we believe the success of our portfolio companies speaks for itself, it is always an honor to receive recognition from our peers. Novacap has won the Canadian Venture Capital and Private Equity Association's "Deal of the Year Award" twice in recent years. In 2000, we won for our Venture Capital investment in InnoMediaLogic Inc. Then, in 2005, Novacap won again in the Private Equity category for its investment in Santé Naturelle A.G. Ltd.

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