WYNDHAM GLOBAL PARTNERS

Wyndham Global Partners, L.P. is a family of international industrial private equity funds with the following common characteristics:

• Each fund is U.S.-dollar-based and is invested in undervalued companies whose principal operations are located in one or more specific emerging markets
• Each of the target companies is focused primarily on exporting, particularly to mature, developed markets, such as the U.S.A., Canada, Europe and Japan
• Each target company may be utilizing a fraction of its capacity due to financial or artificial constraints
• Each investment involves the acquisition of no less than a majority controlling interest in the target company
• In each case the company is recapitalized to be debt-free as of closing of its acquisition, other than working capital financing
• In each case Wyndham aims to improve the company financially and operationally in order to remove financial or artificial constraints on its profitability and cash flow by

• Arranging for the company to access flexible, inexpensive working capital financing in the international capital markets through Wyndham’s strategic relationships
• Improving the company’s operations, whether related to the manufacturing process, logistics, systems and controls, or procurement, using Wyndham’s internal proprietary resources
• Arranging for the company to access, through Wyndham’s strategic relationships, major international trading companies to

• Obtain raw materials more cheaply and on better terms
• Penetrate new international markets with its finished goods

• The objective is to earn a superior return for Wyndham’s investors – without using excessive debt – through the enhancement of each company’s value by increasing its profits and cash flow, rather than hoping to achieve an exit multiple that is greater than the multiple paid upon acquiring the company – Wyndham believes this will occur in any case, as a result of the margin and cash flow enhancement strategies that it introduces at each company.
• Besides seeking to maximize returns, Wyndham simultaneously seeks to reduce, at every stage, the risks traditionally involved in private equity, from exercising strict discipline in how it purchases a target company to minimizing financial leverage to how it adds value and, ultimately, to how and when it realizes each of its investments for the benefit of its investors.