Batteries Plus is a nationwide chain of retail outlets which sells a wide variety of batteries to both individuals and commercial accounts. Red Top Capital LLC investors acquired an interest in Batteries Plus in 1995. Batteries Plus plans to have over 400 outlets in all 50 states within three years. Please visit Batteries Plus web site for more information.
In November of 2007 a large private equity group acquired 100% of Batteries Plus—providing an exit for the investors of Red Top Capital LLC and the remaining founders of Batteries Plus. This transaction provided a return in excess of 33% compounded annually over the term of our investment.
On September 5, 1997, all of the stock of Jubilee Embroidery was acquired by an acquisition corporation formed by Red Top Capital LLC, including a textile executive and the operating management of Jubilee. The Company, founded in 1972, is located in Lugoff, SC.
Jubilee is a specialty embroidery contractor engaged in the production of embroidery and appliqué products which are used in home furnishings, children’s apparel, sports logo merchandise and various other applications. Its customers include West Point Stevens, Springs Industries, Nike, Adidas, Umbro, Champion Products, Health-Tex, Inc., Polo, and many others.
Jubilee Embroidery was shutdown in 2011. This investment returned to its shareholders a return of 8% over the time period Red Top Capital LLC owned Jubilee Embroidery.
The Palmer Companies consist of Palmer Tool Company and Palmer Contractors. Palmer Tool has facilities in Camden, TN and Saucier, MS, while Palmer Contractors is located in Camden, TN. Red Top Capital LLC owned 70% of both Companies and management owned 30%.
The Company’s business is industrial repair and fabrication, primarily in the chemical industry. The Company performs machining, welding and fabrication on various types of process equipment, primarily for the paper, power and chemical industries. Specialties of the Company include code stamped fabrication, hard surface overlays, plasma transferred arc welding, refractory, installation of critical nickel alloy process components. Please visit Palmer Companies website for more information, or contact Dwayne Douglas- President/Owner at 731-584-4681.
In January of 2008 existing Management acquired the stock of all the outside investors affiliated with Red Top Capital LLC. This transaction provided a compounded return of approximately 16% to the investors of Red Top Capital LLC and achieved the long time goal of management to become the sole owners of the business. We are delighted with the return provided and the final outcome of this transaction.
Production Tool Corporation
Turning up to 25 feet diameter and horizontal boring bars with 40 feet of travel.
On December 19, 1997 all of the assets of Production Tool Corporation were acquired by an acquisition corporation formed by Red Top Capital LLC, NationsCredit Commercial Corporation, and an industry executive. Production Tool Corporation performs large scale machining and repair work for OEM’s located in the upper Midwest and for the steel industry around the great lakes. The Company has large scale machining capabilities not found in any other machine shops in the U.S.
In 2007 Production Tool Corporation was merged with a Monarch machining located in Milwaukee, WI.
In 2017 Production Tool Corporation was sold to an industry competitor. The proceeds of this sale were used to further growth of Monarch Machinery Inc.