All posts by admin


Cave Creek Capital Management LLC Acquires Specialty Chemical Company BasTech, Inc.

BasTech, Inc., based in Jacksonville, Florida, has been acquired by an investor group led by Cave Creek Capital Management, LLC, The Courtney Group, Incorporated, and C3 Capital, LLC in cooperation with management. BasTech produces specialty chemical products for customers in paper, pulp, mining and fertilizer sectors.

Investors in the transaction also included senior management, Jerry Rex and Gary Durrant, former executives at Dow and Union Carbide.

“With the completion of this transaction, we will be able to expand our horizon further, and still maintain the excellent relationships we have built with customers and vendors over the past 46 years,” said Jerry Rex, BasTech’s President. “We will have a strong focus on providing quality products and a commitment to the highest level of customer service.”

Kevin Fechtmeyer, President of Cave Creek Capital, and Tom Courtney, President of The Courtney Group, note that they are looking forward to their partnership with Jerry Rex and Gary Durrant, two seasoned executives who have built and managed successful performance chemical businesses.

“BasTech has some great technology and we look forward to pursuing growth opportunities that the company did not previously have the resources to pursue,” said Jerry Rex. “We are bringing a new management team which will allow us to grow and provide increased products and services to our targeted industry customers.”

Cave Creek Capital Contact:
Patricia Attridge, Administrator
Phone: (480) 659-4699


Kenexa Named to Deloitte’s 2007 Technology Fast 50 List

Kenexa® (NASDAQ: KNXA), a leading provider of talent acquisition and retention solutions, today announced they were named to Deloitte’s prestigious Technology Fast 50 for Greater Philadelphia, a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in the region by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Kenexa placed number 24 on the list. Rankings are based on percentage revenue growth over five years, from 2002 to 2006. During this period, Kenexa’s revenue grew 246 percent.

Deloitte honored the 2007 winners at an awards ceremony at The Hub Cira Centre in Philadelphia on October 25, 2007. James Restivo, chief knowledge officer of Kenexa accepted the award on behalf of his company.

Kenexa’s Chief Executive Officer, Rudy Karsan said, “Achieving continued revenue growth comes as a result of Kenexa’s dedication and commitment to providing our customers with the solutions they require to remain competitive. We are delighted to be recognized by Deloitte and honored to among the leading technology companies in our region.”

“Sustaining high revenue growth over five years is an exceptional accomplishment. We commend Kenexa for making the commitment to technology and delivering on the promise of market longevity,” said Michael J. Purcell, Greater Philadelphia Marketplace Technology, Media, and Telecommunications Leader for Deloitte & Touche LLP. Purcell added, “We are proud to name Kenexa to Deloitte’s Technology Fast 50.”

To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and at least $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of its operating revenue; or devotes a significant proportion of revenues to the research and development of technology. Using other companies’ technology or intellectual property in a unique way does not qualify.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.

Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.

About Kenexa
Kenexa® provides outsourcing, employee research and software to help organizations more effectively recruit and retain a productive workforce. Kenexa solutions include applicant tracking, employment process outsourcing, onboarding, skills and behavioral assessments, structured interviews, performance management, multi-rater feedback surveys, employee engagement surveys, and HR Analytics. Headquartered in Wayne, Pa. (outside Philadelphia), Kenexa employs more than 1,300 people worldwide. More information about Kenexa and its global locations can be accessed at

# # #

Note to Editors: Kenexa is a registered trademark of Kenexa Corporation. Other product or service names mentioned herein are the trademarks of their respective owners.


Kenexa CEO Rudy Karsan Named Ernst & Young Entrepreneur of the Year 2007 Award Winner in Greater Philadelphia

As a leading end-to-end provider of software, proprietary content, services and process outsourcing, Kenexa has received recognition from a number of prestigious organizations. Recently, Kenexa was added to the Russell 3000 Index, and Kenexa’s CEO, Rudy Karsan, received the 2007 Ernst & Young Entrepreneur Of The Year® award. Kenexa was honored in 2006 as the RPO Provider of the Year and has also been named each year since 2003 to Forbes Best of the Web. In 2005 and 2006, Kenexa was ranked first of all Recruitment Process Outsourcing Vendors by HRO Today. In 2006, Kenexa was an SIIA Codie Award Finalist and was a Codie Award Winner in 2004 and 2005. Kenexa has been part of Software Magazine’s Software 500 since 2005. Other industry recognition includes BaseLine Magazine’s 50 Fastest Growing Technology Companies in 2006 and TechHR Performance Management and Analytics Award in 2004.


Cave Creek Capital Management LLC Completes $5 Million Investment in Integro

Cave Creek Capital is pleased to announce its recent investment in Integro Ltd., an insurance brokerage and risk management firm launched by Robert Clements, Pete Garvey, and Robert Egan and other senior executives from Marsh & McLennan Companies. The Integro team has a long track record of creating wealth in the insurance industry, generating over $12 billion of capital gains on $2 billion of investment in their previous ventures; including ACE, XL, MidOcean and Arch Capital.

Robert Clements, who stepped down as chairman of Arch Capital Group Ltd. last month, has secured more than $300 million in backing from insurance executives, private equity firms and other institutions to launch an insurance brokerage, Integro Ltd., to target large corporate accounts. The company hopes to benefit from the conflict-of-interest scandals in the insurance industry, offering brokerage services exclusively.

Cave Creek Capital was joined by several major buyout firms; including DLJ Merchant Banking Partners, Weston Presidio Capital and Century Capital Management LLC plus the pension trust unit of General Electric Co., hedge fund Highfields Capital Management LP and holding company Leucadia National Corp.

Cave Creek Capital Contact:
Patricia Attridge, Administrator
Phone: (480) 659-4699


Cave Creek Capital Management LLC Closes VMC Buy-Out

Cave Creek Capital completed the management buyout of Vibration Mountings & Control (“VMC”), a division of Aeroflex, Inc (NASD: ARXX). Cave Creek Capital Management LLC invested in the Equity Securities alongside Management and served as their Financial Advisor in raising the Senior Debt and Mezzanine Securities.

VMC is a leader in the design and manufacture of vibration isolation, shock and seismic restraint systems, providing engineered solutions for the commercial, industrial and military markets. Headquartered in Bloomingdale, NJ, the Company sells to the following primary markets; (i) building mechanical/HVAC contractors; (ii) OEM’s for the transportation, heavy equipment and power generation sectors and; (iii) mounting systems for defense electronics and weapons systems. Systems to reduce shock and vibration are critical in many applications and markets and are often mandated by law. VMC’s management team has achieved a worldwide reputation in this area and brings over 80 years of collective experience in this market.

PNC Business Credit provided a senior bank facility of $9.2 million and Management, Cave Creek Capital and Hill Street Capital provided Equity and Subordinated Capital of $4 million.

Cave Creek Capital Contact:
Patricia Attridge, Administrator
Phone: (480) 659-4699