Symmetry Growth Capital is new; we, however, are not. In addition to the four investments we have made since opening our doors in 2002, we also have responsibility for four additional investments through past relationships with St. Paul Venture Capital and Annapolis Ventures. Investments we are responsible for include:

  Cool Cuts for Kids--Symmetry and St. Paul Venture Capital (SPVC)
  Select Comfort--Symmetry and SPVC
  Big Enough--Symmetry
  Sellars Absorbent Materials--Symmetry
  National Electronics Warranty Corp.--SPVC and Annapolis
  Ascend One Corp.--Annapolis
  Ulta--Annapolis
  RIMCO--Annapolis

Of the companies that have been in the portfolio for longer than three months, five of the six are profitable and generating cash (a novel concept for a venture capital backed company).

Some of these companies, as well as other notable prior investment successes, are described below. We believe these companies are indicative of the types of investments Symmetry will make in the future:

Consumer Products



Founded in 1987, Select Comfort is a manufacturer and retailer of innovative, adjustable-firmness mattresses using patented air chamber technology. Select Comfort sells its products through about 400 locations in 46 states, including its own retail stores (under the banners Select Comfort and Sleep Number Store). The company also generates sales through its direct marketing, wholesale and e-commerce channels. Revenues in 2002 exceeded $335 million, and comp store sales were 27%. Pat Hopf was a founding investor in 1991 and is still the Chairman.

Retailing



Cool Cuts 4 Kids operates 40 children's haircutting salons in the southwestern U.S. The company provides high quality children's hair care services, an enjoyable experience for children and a relaxing environment for parents. Cool Cuts 4 Kids stylists are dedicated to providing superior haircuts and friendly customer service in salons which meticulously maintain a high standard of cleanliness. A predecessor fund invested in Cool Cuts 4 Kids in 1998, and Symmetry Growth Capital made the company its inaugural investment in October of 2002.

Big Enough is a fourteen year-old children’s apparel company headquartered in Norwalk, CT. The Company designs, contract manufactures and markets a line of high-quality children’s sportswear with price points ranging from $20-$55. The product line is targeted to a relatively affluent buyer whose purchasing decisions are motivated primarily by choice, taste, lifestyle preferences and convenience, rather than price. The clothing is distinct, with a forward-looking, European influence in styles and colors. Big Enough sells its products through 400+ part-time sales representatives who sell direct in the home to mothers with children ages 1-12. The sales reps are motivated by the ability to earn extra income and discounts on clothes for their own children, while enjoying a flexible schedule and a social working environment. Symmetry invested in Big Enough in the second quarter of 2003.

Services



National Electronics Warranty develops, markets, and administers warranty, product protection, and risk-avoidance products and services. N.E.W. provides coverage for more than 100 million consumers annually, and its programs generate more than $900 million in incremental revenue for its clients every year. N.E.W.'s prestigious client list includes some of the nation's top retailers, manufacturers, financial institutions, utility companies and e-commerce outlets. After 16 years in business, N.E.W. raised its first round of venture capital, led by two predecessor funds, in order to accelerate its growth rate.

Education



Sylvan Learning is the leading provider of private educational services to families and schools worldwide. The Sylvan Learning Centers and Sylvan Education Solutions businesses provide personalized instruction services to K-12 students through direct consumer relationships and under contract to school systems. Sylvan provides courses to adult students throughout the world in the areas of teacher training, accredited university offerings, and English language, through Online Higher Education, Sylvan International Universities and Wall Street Institute businesses. Sylvan International Universities is pioneering the largest and most ambitious network of post-secondary educational institutions worldwide. A predecessor fund led an expansion stage financing to help the Company accelerate its franchise program and enter the computerized testing business.

Manufacturing and Industrial



Fargo Electronics is a world leader in designing and manufacturing desktop systems which generate plastic identification cards. Customers use Fargo's "instant-issue" card printers to make personalized bus and train passes, driver's licenses, hotel room access cards, library cards, membership cards, parking passes, retail loyalty and discount cards, and security and student identification cards. A predecessor fund participated in Fargo's only private equity financing, which helped the already-established company expand into new applications in the security field.

Sellars Wipers and Sorbents is a specialty paper and nonwovens manufacturer headquartered in Milwaukee, WI. The Company manufactures multi-use, disposable wiping and absorbent materials for a variety of end uses in the industrial, commercial, and retail markets. Sellars’ key product lines employ a proprietary Double Re-Creping (DRC) process which makes paper stronger, softer, bulkier, and more absorbent. The Company recently became the exclusive NASCAR licensee for both wipers and absorbents. Symmetry led the first institutional financing of Sellars in the summer of 2003 to de-leverage the balance sheet and help guide Sellars’ expansion into retail markets.

Failures

A wise person once said "people learn more from their failures than their successes." Unfortunately, we have had our share of "learning experiences" over a 20 year career in the private equity business. Fortunately, we don't have any existing "problem children" in the portfolio, and we consciously attempt to benefit from past "learning experiences" and apply those experiences to new investments.