PARTNERSHIP CAPITAL GROWTH ACTED AS EXCLUSIVE FINANCIAL ADVISOR TO SURFTECH

Source Capital has invested in Surf Technicians, Inc., the leading global branded producer of epoxy surfboards.  Partnership Capital Growth Advisors acted as exclusive financial advisor to SurfTech. Source Capital led a recapitalization of SurfTech with founder Randy French and Partnership Capital Growth co-investing alongside them in the transaction. The transaction was completed in the fourth quarter of 2007.

Mr. French hired PCGA in late 2006 to help him explore options to drive company expansion into new technologies and adjacent products, as well as to bring in a strong investment partner. PCGA led an extensive upfront screening and diligence process involving strategic and financial investors with experience/knowledge of the surf industry. Source Capital, LLC offered experience in manufacturing and branding as well as a transaction structure that allowed Randy to achieve strategic goals for the growth of the company, while maintaining meaningful control and upside.

About SurfTech
Based in Santa Cruz, CA, Surf Technicians, Inc. was founded in 1992 by Randy French. Surftech introduced “mass customization” to surfboard manufacturing through its Tuflite epoxy technologies, which couple product consistency with the best board designs in the world.
www.surftech.com

About Source Capital
Source Capital, LLC is a private equity firm specializing in investments in management-backed leveraged acquisitions, recapitalizations, and growth financings. The firm seeks to invest in mature small-cap private companies in business services, distribution or supply, healthcare, and light manufacturing sector. The firm primarily invests in companies based in the United States. It prefers to invest in companies with EBITDA of at least $1.5 million. The firm seeks to acquire a controlling stake in its portfolio companies. Source Capital, LLC was founded by Mr. Thomas Harbin in 2002 and is based in Atlanta, Georgia with an additional office in San Francisco, California.
www.source-cap.com

About Partnership Capital Growth
Partnership Capital Growth is a FINRA/SIPC licensed broker dealer that provides full service merger and acquisition, financing and capital structure advisory services to middle market companies.  PCGA focuses exclusively on consumer products and services in the area of healthy, active and sustainable living. PCGA is based in San Francisco, California.
www.pcg-advisors.com

Please feel free to contact Brent Knudsen or Tripp Baird at brent@pcg-advisors.com or tripp@pcg-advisors.com to discuss this transaction.