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2nd Quarter 2007
 
 
 
 
 

Mezzanine & Private Equity Investment Quarterly News
 
trans
 
 
 
Hartford Investment Management Company's Mezzanine & Private Equity Group
announces the recent completion of two mezzanine and private equity transactions and one realization:
   

The Cortland Companies, Inc.

$10.0 million in senior subordinated debt

  The Mezzanine & Private Equity Group announces that it has invested $10.0 million in senior subordinated debt to support the acquisition of The Cortland Companies (Cortland) by Cortec Group Fund III, L.P. Headquartered in Cortland, NY, Cortland is a leading manufacturer of electro-mechanical cables, umbilicals, tethers, and high-performance synthetic ropes used in a wide variety of industries including oil and gas, defense, heavy marine, medical, utility and oceanographic. Cortland was acquired as a sister company to one of Cortec’s existing portfolio company, Sanlo, Inc., a value-added distributor of steel cable and cable assemblies.
   

Wastequip, Inc.

$3.9 million in senior subordinated debt and equity

  The Mezzanine & Private Equity Group announces that it has invested $3.9 million in senior subordinated debt and equity interests to support the acquisition of Wastequip, Inc. by Odyssey Investment Partners, LLC. Wastequip is the largest designer, manufacturer, and marketer of waste handling and recycling equipment used to collect, process, and transport solid and liquid waste in North America. Wastequip offers the most comprehensive product line in its target markets, including a wide variety of steel collection containers, plastic residential containers, hoists, compactors, bailers, tarpers, frac tanks, vehicle-mounted vacuum units, parts and services.
   

MicroDental Laboratories, Inc.

$7.8 million in senior subordinated debt

The Mezzanine & Private Equity Group announces that it has realized on its investment of $7.8 million in senior subordinated debt to MicroDental Laboratories, Inc. when the company was sold. MicroDental is a leading domestic dental laboratory focusing on cosmetic dental restorations and reconstructions. HIMCO’s investment was made in 2005 to support a recapitalization of MicroDental by Riverside Partners, LLC.
   
 


About Hartford Investment Management Company’s Mezzanine & Private Equity Group

The Mezzanine & Private Equity Group of Hartford Investment Management is a leading provider of capital to private equity markets. The Group provides direct mezzanine debt and equity and can provide equity on a stand alone basis. We are responsive, competitive and we seek to partner with like minded private equity investors and management teams. Our deep understanding of the middle market provides us with an advantage when providing junior capital. In addition to our direct investment activities, we seek to invest into top performing middle market private equity and mezzanine funds that will provide a source of co-investment opportunity. Selectively, we will also invest in top performing funds that focus on investments outside of our middle market strategy. Currently, we manage over $1.3 billion in mezzanine and private equity assets and commitments.

About Hartford Investment Management
Hartford Investment Management Company, a wholly-owned subsidiary of The Hartford Financial Services Group, Inc., manages over $139.5 billion ("Hartford Investment Management") on the behalf of corporate retirement plans, endowments, foundations, insurance companies, mutual funds, public funds and other institutional accounts.

 
 
For more information contact:
 
Bill Holm, bill.holm@himco.com 
860-297-6448
  860-297-6440
  860-297-6408
Chris Murphy, chris.murphy@himco.com
  860-297-6338
Thorsten Suder, thorsten.suder@himco.com
  860-297-6469
 
 

55 Farmington Avenue, P.O. Box 1744,
Hartford, CT 06144-1744
www.himco.com

The foregoing is not intended as a solicitation of investment management services, but rather an announcement of the transactions identified herein to the private equity market. The specific securities identified and described herein represent all of the direct mezzanine investments (defined as including all direct investments by Hartford Investment Management Company's Mezzanine & Private Equity Group, including debt and equity securities, but excluding fund investments) purchased, sold or recommended for The Mezzanine & Private Equity Group's advisory clients during the prior three months, and the reader should not assume that investments in the securities identified and discussed were or will be profitable. For a complete list of such securities, please contact Hartford Investment Management Company's Mezzanine & Private Equity Group.

Hartford Investment Management Company, a wholly-owned subsidiary of The Hartford Financial Services Group, Inc., is a registered investment adviser providing investment services to mutual funds, employee benefit plans, insurance companies and other institutional accounts.

All assets as of 6/30/07

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