Cabrera Capital Markets, LLC

Merchant Banking Division

March 2009
Table of Contents

Cabrera Capital Markets, LLC

 Company Background
 National Presence
 Company Structure
 Growth

Merchant Banking Division

Recent Transactions

Sample Target Investors

Key Professionals

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Cabrera Capital Markets, LLC
Company Background

Cabrera Capital Markets, LLC is an investment banking and institutional brokerage firm
headquartered in Chicago’s financial district. We provide a range of services to a substantial and
diversified client base that includes financial institutions, corporations, unions, foundations,
endowments, and state and local governments. At the core of our business is our commitment to our
clients and focus on building lasting relationships.

We consistently aim to anticipate the rapidly changing needs of our clients and provide innovative and
creative solutions to their needs.

Cabrera Capital Markets, LLC is the only Hispanic-owned investment bank that is headquartered in
the Midwest, and one of the few throughout the country.

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Cabrera Capital Markets, LLC
National Presence

Chicago
Chicago
Headquarters
Headquarters

ChicagoStock
Chicago Stock NewYork
YorkCity
City
PepperPike
Pike New
Exchange
Exchange Pepper

Boston
Boston
LosAngeles
Los Angeles
n

Philadelphia
Philadelphia

SantaFe
Santa Fe
Atlanta
Atlanta

SanAntonio
San Antonio

Miami
Miami
MerchantBanking
Merchant BankingDivision
Division
Opening soon
Opening soon

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Cabrera Capital Markets, LLC
Company Structure

Cabrera Capital Markets, LLC Cabrera Capital

Partners, LLC

Equity Cabrera Multi-

Merchant Banking Fixed Income
Division Manager
Division Division
Investments, LLC

Taxable Product Municipal

Transaction Advisory Underwriting Product Cabrera Diversified
Division
Services Division Global Fund

Capitalization Sales & Trading Underwriting Underwriting

Mergers & Acquisitions Stock Repurchase Sales & Trading Sales & Trading

Business Valuations & Transition Transition

Fairness Opinions Management Management

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Cabrera Capital Markets, LLC
Unparalleled Growth

Cabrera Negotiated Underwriting

In billions Participations
$140 + 7%
123

Cabrera Capital Markets is a fast- $120 115
growing firm that has participated in + 64%
$100
approximately 250 transactions totaling
over $300 billion in proceeds as of year- $80 70
+ 84%
end 2008. $60

Since its inception in 2001, Cabrera has + 58% 38

$40
24
grown to 9 offices throughout the country;
$20 9
with an office in Miami opening soon. 3 5
$-
2001 2002 2003 2004 2005 2006 2007 2008

Cabrera Negotiated Underwriting Participations

Role 2004 2005 2006 2007 2008
Senior Manager 1 1 5 16 5
Co-Senior 0 2 3 2 5
Co-Manager 23 35 62 97 113

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Table of Contents

Cabrera Capital Markets, LLC

Merchant Banking Division
 Strategy
 Capabilities
 Sector Focus
 Differentiation

Recent Transactions

Sample Target Investors

Key Professionals

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Merchant Banking Division
Strategy

Who We Are - Cabrera Merchant Banking is the merchant banking division of Cabrera
Capital Markets, LLC. We provide US Hispanic Market and Latin America focused
companies with comprehensive advisory services. Our transaction advisory practice advices
clients considering strategies such as: business expansions; infrastructure projects; acquisitions
and divestitures; and capital equipment financing structures.

Companies seeking growth capital with the following characteristics:

 Equity & Debt Funding: $5 to $250 million
 Projected EBITDA: $1 to $50 million
 Growth rate range: 15% to 30%

Our focus is on small market businesses that target the US Hispanic market; established and
successful businesses with a commercial presence or focus on Latin America; and Latin
American businesses expanding into the US.

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Merchant Banking Division
Strategy (continued)

Funds for Expansion - Expanding your business often requires a significant infusion
of capital. For your private company, an initial private or institutional offering is the
main funding source while attracting new investors and advertising your products or
services. Our merchant bankers work with your team from the initial assessment
through the completion of the offering. Cabrera Merchant Banking can offer your
company:
 Exposure to a wide variety of institutional investors
 Advise on how to source your capital needs

Experienced Track Record – Cabrera Merchant Banking’s team has the expertise,
experience, and resources to successfully advise your company through the capital
raising process. Our merchant banking team will help determine the optimal structure
of an offering by evaluating:
 The business plan and identify the opportunities for growth and calculate the
financial requirements of pursuing such opportunities
 The company’s operating history and nature of assets
 The degree of ownership sought to be maintained
 The company’s historic, current, and projected cash flows

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Merchant Banking Division
Capabilities

Cabrera Merchant Banking Divison’s capital raising capabilities include straight

equity via convertible and preferred debt, and high-yield corporate bonds.

Cabrera Merchant Banking Divison addresses the intricacies of acquisitions and

divestitures with a highly knowledgeable team of seasoned professionals who
specialize in mergers, acquisitions and leveraged buyouts. The M&A group is further
supported by Cabrera Capital Markets, LLC who specializes in a wide range of
industries and types of financing to ensure that clients are provided with the most up-
to-date market and industry information. Our M&A Group has completed numerous
M&A, advisory and private domestic and international placement assignments over the
last twenty years.
Areas of expertise include:
 Sales of Companies and Divestitures
 Mergers, Acquisitions, and Tender Offers
 Leveraged Buyouts

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Merchant Banking Division
Capabilities (continued)

Capitalization - Utilizing our deep relationships with traditional and alternative

institutional investors, we efficiently raise or negotiate the placement of new capital at
all levels of a company’s capital structure. We analyze and craft the appropriate capital
structure for a company and place the securities through privately marketed and
negotiated transactions.

Business Valuations - We have appraised a broad range of businesses worth from
$500,000 to as much as $200 million. Our staff conducts valuations for a variety of
entities, including: ongoing small and medium sized businesses and larger company
divisions with the aim of divestiture.

Fairness Opinions - Cabrera Merchant Banking supports boards of directors,
investors, trustees, and other corporate and organizational leaders in performing their
fiduciary responsibilities by providing such parties with unbiased opinions as to the
financial fairness of pending transactions.

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Merchant Banking Division
Sector Focus

We take a generalist approach to our advisory practice; however, we divide our services into the
US Hispanic Market and the Latin American Market. Within the US Hispanic Market we help
capitalize those companies led by Hispanic management teams; or companies that target the
growing US Hispanic market. Within the Latin American Market we help capitalize those
companies involved in infrastructure development projects and regular ongoing commercial
activities benefiting from booming economic cycles and stable political platforms. We dissect each
market into the following sectors:
US Hispanic Market Sectors Latin America Market Sectors
Consumer Goods & Services Infrastructure Consumer Goods & Services
Financial Education Financial
Healthcare Transport Healthcare
Business Services Irrigation & Drainage Business Services
Manufacturing Energy Manufacturing
Media Telecom Media
Food & Beverage Water Food & Beverage
Retail Retail
Real Estate Real Estate

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Merchant Banking Division
Differentiation

Distribution capabilities to place a significant volume of securities with institutional investors.

Diverse investor base that includes: Financial Institutions, Corporations, Money Managers,
Mutual Funds, Pension Funds, State and Local Governments, Unions, Endowments and
Foundations

Access to deep pools of liquidity.

We are a reputable team exceptionally qualified to leverage the entire resources of the firm to
lead- manage or co-manage significant transactions through our growing franchise

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Table of Contents

Cabrera Capital Markets, LLC

Merchant Banking Division

Recent Transactions

Sample Target Investors

Key Professionals

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Recent Transactions

We aggressively participate in primary offerings to place a significant volume of

securities with institutional investors.

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Recent Transactions

We aggressively participate in primary offerings to place a significant volume of

securities with institutional investors.

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Recent Transactions (continued)

We aggressively participate in primary offerings to place a significant volume of

securities with institutional investors.

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Recent Transactions (continued)

We aggressively participate in primary offerings to place a significant volume of

securities with institutional investors.

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Recent Transactions (continued)
$28.5 Billion in Hybrid Transactions

Cabrera Capital has recently participated in high profile offerings to help our clients
raise Tier 1 equity capital.

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Table of Contents

Cabrera Capital Markets, LLC

Merchant Banking Division

Recent Transactions

Sample Target Investors

Key Professionals

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 Sample Target Investors

Alliance Capital
Acon Investments
Ariel Capital Management
Aldus Equity
Boston Partners Blackrock
We have
American Growth
CalPERS
By
American Value Partners Chicago Asset Management
unique CalSTRS effectively
Bastion Capital Chicago Equity Partners
relationships Bravo Equity Partners Cypress Asset Management INVESCO penetrating
with Centinela Capital Partners Friess Associates Legg Mason small and
institutional Carpenter & Co. Harris Investment Lehman Asset mid-sized
Management
investors who
Clarity partners Management institutional
Clearlake Capital Group Keeley Asset Management Loomis Sayles
rely on our investors we
Craton Equity LM Capital Merrill Lynch Asset
high level of CSFB Management provide a
Mesirow Financial
service, Darby – BBVA Latin America Morgan Stanley distribution
Montag & Caldwell
Private Equity Fund Investment Management platform that
efficient Hispania Capital Partners
Pugh Capital
Ohio State Teachers well
execution and Nogales Investors Smith Graham
PIMCO
customized Palladium Equity Partners Taplin, Canida & Habacht complements
Russell Investment Group
solutions Pinto Van Kampen
State Street Global
the large
Teacher’s Retirement System of Waddell & Reed
UBS Global Asset
funds.
the State of Illinois Wells Capital Management Management
UIB Capital
William Blair Wellington
WAMCO

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Table of Contents

Cabrera Capital Markets, LLC

Merchant Banking Division

Recent Transactions

Sample Target Investors

Key Professionals

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Cabrera Capital Markets Merchant Banking:
Team
Charles P. García, Managing Director of Merchant Banking
Mr. Garcia is a former White House Fellow, graduate of the US Air Force Academy and Columbia Law School
Graduate. In 2006, he sold his investment banking firm, which grew from three people to 60 offices in seven
countries; Inc. magazine identified it as one of the top ten fastest-growing privately held companies in the United
States. In 2002, Hispanic Business Magazine named his firm the #1 fastest growing Hispanic firm in the US.
Garcia was named entrepreneur of the year by three national organizations. He is on the boards of Fortune 500
companies and serves as the Chairman of the Board of Visitors of the U.S. Air Force Academy.
cgarcia@cabreracapital.com

Camilo Salomon, Managing Director of Merchant Banking

Mr. Salomon is an investment banker with over twenty years of international experience in business
development, project finance, corporate finance, credit enhancement, hands-on corporate management at C-level
and corporate governance of privately-owned companies.
Prior to joining the Merchant Banking division at Cabrera Capital Markets, LLC, Camilo joined vFinance
Investments, Inc. to develop an investment banking practice for the Global Hispanic Market. It provided services
to Hispanic ventures in search of capital and to Institutional Investors aiming to deploy assets in this market.
Camilo holds a Bachelor’s of Science degree in Business Administration, with a Major in Finance from Los
Andes University in Bogotá, Colombia. Is an active member of the Young Presidents’ Organization. He was
awarded the keys to the City of Miami and NASA recognized him with the Small Aircraft Transportation System
Excellence Award. csalomon@cabreracapital.com

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Cabrera Capital Markets Merchant Banking:
Team
Julio Tupac, Vice President of Merchant Banking
Mr. Tupac has over 10 years of experience in investment banking and corporate finance in Latin America and the United States.
Julio has substantial investment banking experience in the US Hispanic market. He has completed transactions in project
finance, financial restructuring and operational consolidation in the food and beverage, retailing, telecommunications,
semiconductors, consumer goods, and financial service sectors; among other industries.
He is a graduate of Columbia University Engineering School and holds an MBA from Florida International University.
jtupac@cabrecapital.com

Edward H Gonzalez, Associate of Merchant Banking

Mr. Gonzalez has a focused financial and legal background with over 5 years of experience in transaction advisory services. He
undertakes the research, due diligence investigatory, business valuations and financial analysis role in the Merchant Banking
division.
Edward holds both Master of Science in Finance and Bachelor of Business Administration degrees from Florida International
University. Edward attended St. Thomas University School of Law in Miami, Florida and is currently pursuing the Chartered
Financial Analyst designation. egonzalez@cabreracapital.com

Angela Murcia, Analyst of Merchant Banking

Ms. Murcia has extensive experience in financial operations and compliance. At Cabrera Capital Markets LLC, she oversees all
administrative aspects of the Merchant Banking Dept and performs the analytical research, financial due diligence, prepares the
power point presentations, and prepares document translations.
She earned her Master of Business Administration degree in International Business, from Schiller International University
and has a Bachelor in Business Administration degree in finance and government from the Externado de Colombia in Bogota,
Colombia.

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