Crain's Detroit Business - 2011 Book of Lists - (Page 75)

December 27, 2010 CRAIN’S DETROIT BUSINESS Page 75 M&A Awards Lifetime Achievement Award Frank Hennessey is known as a man of investing and deal making, a rare combination of numberscruncher and entrepreneur who can keep an eye on a spreadsheet and the big picture simultaneously. He is the founder, chairman and CEO of Huntington Hennessey Woods-based Hennessey Capital LLC, an assetbased lender that has provided more than $75 million in capital to more than 200 companies since its founding in 2002. He also founded Hennessey Enterprises Inc., a Bostonbased investment company run by son Frank Jr., and Hennessey Ventures LLC, a San Francisco-based VC firm run by son Michael. For his investment prowess and more, Hennessey, 71, was the recipient of the third annual Crain’s Lifetime Achievement Award. Hennessey said the secret to Hennessey Capital is that those firms in need of asset-based lending often need other help, too, and providing it is a source of pride. Companies that Hennessey Capital successfully helped prosper include Detroit-based VisionIT Inc. and Pontiac-based GPSi LLC. Hennessey is on the board of directors and is chairman of the audit committee of DTE Energy, is a past director of New Detroit Inc., a former trustee of the Hudson-Webber Foundation, past chairman of the Japan America Society of Greater Detroit and Windsor, and past chairman of the Detroit Regional Chamber. sets: XanEdu Publishing, the largest publisher in the U.S. of customized course materials for higher education, and NA Publishing Inc., a new entity that will continue to provide microfilm archiving. The two assets were generating about $30 million in revenue at the time of the sale, the price of which was not disclosed. Best Expansion Huron Capital Partners LLC/Ross Medical Education Center: After acquiring majority ownership in Ross Medical Education Center in 2005, Detroitbased Huron Capital spent the next two years getting operations back on solid footing and updating its technology, appearance and in some cases, more visible locations. Huron’s $20 million in investments culminated in August 2009 with a recapitalization of the business. With the new funds, Ross expanded its footprint by 40 percent. Enrollment increased by 79 percent and revenue increased to $60 million in 2009 from $10 million four years earlier. Dealmaker winner (Buyer/Seller) Glencoe Capital Michigan LLC: In 2009, Glencoe Capital, which manages the Michigan Opportunity Fund, was involved in three deals representing 25 percent of the $150 million fund. A deal with Grand Rapidsbased American Education Group is an example. The fund closed on a $10 million equity investment with the group, taking a 24 percent ownership stake, and will have a role in the company’s growth. Finalist Glencoe Capital Michigan LLC, Birmingham, acquired 40 percent ownership and 50 percent control of Moosejaw Mountaineering and Backcountry Travel Inc., Madison Heights, in 2009. The amount of the investment wasn’t disclosed. uity practice at Detroit-based Dickinson Wright PLLC, represents 11 client funds, accounting for at least 70 percent of his practice today, and was an adviser on at least 10 transactions during 2009, with a combined value more than $100 million. Bolton said one of his proudest 2009 moments was as an adviser on the August deal for Superior Capital Partners to acquire the assets from National City Bank as a secured lender to Ann Arbor-based National Archives Publishing Co. The deal closed in just 30 days. Finalist Huron Capital Partners LLC, Detroit, closed on five deals in 2009 and walked away from six others during due diligence. Dealmaker winner (Adviser) Richard Bolton: Bolton, managing director of the private-eq- Best Deal winner (Large) Pulte Homes/Centex Homes: For the past four years, Bloomfield Hills-based Pulte Homes Inc. had been looking at Dallas-based Centex Homes Inc. as a possible takeover and had made overtures. But the “timing wasn’t right” until 2009, when “they called us,” said Chairman, President and CEO Richard Dugas. As part of the $3.1 billion transaction, Pulte acquired Centex and also earned the title of being the largest homebuilder in the United States by virtually every metric used to measure homebuilders. The combined company operates more than 900 communities across 29 states and sells homes through the Pulte, Centex and Del Webb brands. Finalist Beijing West Industries Co. Ltd.’s $100 million acquisition of Delphi Corp.’s global brake and suspension business. Best Deal winner (Small) Superior Capital Partners/National Archive Publishing Co.: The purchase in September 2009 of the assets of struggling Ann Arborbased National Archive Publishing Co. by Detroit-based Superior Capital Partners LLC. Superior formed NAPC Holdings LLC in which to operate the two as- PEOPLE

Table of Contents for the Digital Edition of Crain's Detroit Business - 2011 Book of Lists

Crain's Detroit Business - 2011 Book of Lists
The Big Picture
10 things to watch in 2011
10 things to remember about 2010
Private 200
Fastest-growing companies
Public school districts
Top-compensated CEOs
Top-compensated non-CEOs
Metro Detroit employers
Wayne County employers
City of Detroit employers
Livingston County employers
Washtenaw County employers
Macomb County employers
Oakland County employers
Publicly held companies
Hispanic-owned businesses
Native American-owned businesses
Asian-owned companies
Black-owned businesses
Woman-owned businesses
The Motor City
Airlines Serving Detroit Metro
Professional Sports Teams
Auto Suppliers
Auto Dealers
Aftermarket Suppliers
Divisions
Defense Contractors
New Economy/Health Care
Family-owned companies
IP law firms
Group health plans
Hospital companies
Physician organizations
Graduate business degrees
Engineering companies
Environmental companies
IT companies
Biotech companies
People/Awards
Salute to Entrepreneurs
CFO Awards
40 Under 40
Best Lawyers
20 in their 20s
Women to Watch
M&A Awards
Most Connected
Finance
Capital campaigns
Accounting firms
Banks and thrifts
Money managers
Business insurance agencies
SBA Lenders
Real Estate/Services
Office furniture dealers
Nonprofits
Meeting facilities
General contractors
Architects
Property managers
Residential brokers
Staffing companies
Logistics firms
Law firms
Classifieds
Index of Companies

Crain's Detroit Business - 2011 Book of Lists