Ronin Partners investment approach can be defined by the following:

o  Preference for control investments in established businesses involving either buy-outs or recapitalizations.  We have and would invest in new companies with a build versus buy strategy but would generally not be a venture capital investor in new technologies.

o  Preference for businesses with strong competitive positions, proprietary products or services and opportunities to grow. Turnaround situations would be considered.

o  Superior management teams to grow the business either internally or through bolt-on acquisitions.

o  Transaction sizes of $ 50 to $500 million. For larger investments, we would bring in co-investors.

o  No geographic restrictions. We have experience in owning international companies and growing international operations and sales.

o  Proper capitalization of the business to facilitate growth.

o  No pre-defined holding period. Because we are investing our own capital, we are not limited by remaining fund life.