Since its inception Brynwood Partners has successfully and consistently applied its original strategy of portfolio investing.

The key components of this strategy are:

• Obtaining outright or operating control of a limited number of platform companies
• Using conservative leverage
• Identifying niche market opportunities for the portfolio companies
• Building long-term value through hands-on involvement in developing the business strategy
• Working closely with the portfolio companies to drive operational improvements, identify strategic growth initiatives and monitor management’s performance

While the Fund will consider investments in a diverse range of industries, Brynwood's primary focus is on consumer products, light manufacturing in low capital intensive industries, service businesses (including transportation/logistics) and specialty retail companies. Brynwood targets companies that are underperforming and/or undervalued, failed leveraged buy-outs or companies that are under-financed and in need of an equity infusion. Brynwood’s investments have consistently adhered to this investment strategy as shown below:

Types of Investments

Underperforming Companies at the Time of Acquisition DeMet's Candy Company (BP V) Richelieu Foods (BP V)     Stella D'oro** (BP V) Lincoln   Snacks ** (BP III)   Genie   Company ** (BP II)   J.B.   Williams ** (BP II)	Undervalued Companies at the Time of Acquisition IJS Global (BP V) Metro Door (BP V) S. Walter (BP V) Boon Edam Tomsed** (BP IV & V)     G & T (BP IV)     Utrecht** (BP III)
Failed LBOs at the Time of Acquisition Best Friends (BP IV)	.Equity Infusions at the Time of Acquisition AEI** (BP I & II) Hurco** (BP I & II)
**Divested