Vitamin Water

In early 2003, TSG partnered with the founder of Glaceau to provide minority equity capital to support the growth of the business.

Glaceau pioneered the enhanced water category through its VitaminWater, SmartWater and FruitWater brands. Glaceau’s enhanced waters offered consumers more flavor than bottled water and lower calories and a non-carbonated experience versus carbonated soft drinks while in each case providing real functional benefits through vitamin and mineral supplementation. Prior to TSG’s investment, Glaceau had built a regional direct-store-distribution (“DSD”) network in MetroNew York and certain other Northeastern markets.

Over the course of its partnership with Glaceau, TSG encouraged a focus on the VitaminWater brand together with significant investment ahead of sales in building a national independent DSD network and opening individual new geographies with innovative guerilla marketing campaigns that drove consumer awareness and trial. TSG further encouraged investment into relationships with national and regional celebrities and athletes to further enhance brand appeal, including Fifty Cent (Formula 50 flavor), Brian Urlacher (54 flavor) and Jennifer Anniston (advertising spokesperson).

When TSG exited its investment to the Tata Group in connection with a recapitalization of the company in 2006, sales had increased by 7 times as compared to the year prior to TSG’s investment.

www.energybrands.com

PureOlogy

In 2004, TSG partnered with the founder of PureOlogy in a majority recapitalization that included a modest amount of leverage to enable investment in growth initiatives.

The founder of PureOlogy had created a unique and proprietary formula for shampoo and conditioning products that preserved the life of color in color-treated hair. The company’s products were primarily distributed in a limited number of premium professional hair salons.

Over the course of TSG’s ownership and partnership with the founder and based on the real differentiated benefits that the company’s products offered consumers, PureOlogy dramatically increased margins by increasing the price of their products while expanded distribution not only into a nationwide network of premium professional salons but also into certain mid-price salons and upscale chains. The company also introduced shampoo and conditioner lines for specific hair types and innovative styling aid products to enable it to market a complete line of haircare products to its salon customers.

When TSG exited its investment through a strategic sale to L’Oreal in 2007, PureOlogy’s sales had increased by approximately 5 times versus the year prior to TSG’s investment while profit margins had almost doubled.

www.pureology.com

Smart Balance

In 2004, TSG partnered with the founder of Smart Balance Foods in a majority recapitalization that included a modest amount of leverage to enable investment in growth initiatives.

The company marketed a great tasting margarine spread that utilized a proprietary formulation licensed from Brandeis University that removed trans fats and had clinical trials supporting the claim that using Smart Balance as your primary source of added fats could improve your HDL to LDL cholesterol ratio.

Over the course of TSG’s ownership and partnership with the founder and based on the high repurchase rates after trial of the product that TSG’s consumer research illustrated, the company significantly increased its advertising spend to raise the awareness of the benefits of Smart Balance margarines and drive trial. The company also launched products into other categories where trans fats were a concern or other functional benefits could be offered to consumers, namely microwaveable popcorn (with no trans fats) and peanut butter (no trans fats and functional levels of Omega-3s added).

When TSG exited its investment to Boulder Specialty Foods in 2007, sales and earnings had tripled versus the year prior to its investment and Smart Balance margarine’s market share in food, drug and mass outlets had quadrupled.

www.smartbalance.com