Falconhead Capital - National Powersport Auctions

On August 29, 2006, Falconhead Capital, LLC (“Falconhead”) announced the sale of its portfolio company, National Powersport Auctions (“NPA”), to Transportation Resource Partners, LP. NPA is the leading auctioneer of repossessed, recovered, and salvaged motorcycles, ATVs, and personal watercraft to powersport dealers throughout the United States and NPA accounts for approximately 85% of all auction sales in these catagories. Through extensive and longstanding relationships with consumer finance companies and powersport dealers, NPA has established itself as the leading intermediary in this market, providing effective and profitable solutions to its suppliers and end customers. NPA was founded in 1990 by Cliff Clifford and is headquartered in Poway, California.

Based on our solid relationships with large strategic car auction businesses and our deep transportation industry experience, Falconhead and the NPA management team engaged Watch Hill Partners and William Blair & Co. as their financial advisors to monetize Falconhead's investment and provide the management team with a new partner to assist the company in exploiting numerous identified growth opportunities.

Transportation Resource Partners (“TRP”) is a $265 million private equity fund that makes leveraged investments in growth-oriented companies operating in the Transportation and Transportation Services Industries. TRP, along with its predecessor fund, Penske Capital Partners, has been responsible for managing over $600 million of equity capital.