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GTCR Golder Rauner, LLCGTCR Golder Rauner, LLCFebruary 2004February 2004

8/12/02

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GTCR Golder Rauner, LLC

• Chicago-based private equity firmChicago-based private equity firm• Founded in 1980Founded in 1980• Identify and partner with Identify and partner with

exceptional management teamsexceptional management teams• Over $6 billion in capitalOver $6 billion in capital• Mezzanine Fund, $450 millionMezzanine Fund, $450 million• Active portfolio of over 40 Active portfolio of over 40

companiescompanies

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GTCR pioneered the investment GTCR pioneered the investment strategy of identifying and strategy of identifying and

partnering with exceptional partnering with exceptional executives to build major executives to build major

companies over time that can companies over time that can dominate their markets through dominate their markets through

strategic acquisitions and strategic acquisitions and aggressive internal growth.aggressive internal growth.

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Investment Strategy

• Proactive Industry ResearchProactive Industry Research

• Executive Networking and Executive Networking and RecruitmentRecruitment

• Equity Partnership with Equity Partnership with ManagementManagement

• Build Leading CompaniesBuild Leading Companies

• Long-Term InvestorsLong-Term Investors

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Private Equity

Venture CapitalVenture Capital

Industry ConsolidationsIndustry Consolidations

Leveraged BuyoutsLeveraged Buyouts

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The GTCR Process

• Select Attractive IndustrySelect Attractive Industry• Proactively Source and Partner Proactively Source and Partner

with Management Teamwith Management Team• Become “Industry Buyer”Become “Industry Buyer”• Enhance Operational Enhance Operational

Performance Performance • Evaluate Exit OpportunitiesEvaluate Exit Opportunities

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Research Sectors

• Transaction ProcessingTransaction Processing• HealthcareHealthcare• Information ServicesInformation Services• Distribution/LogisticsDistribution/Logistics• Business ServicesBusiness Services

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Partnerships with Management

• History of backing more than 150 management teams

• Management friendly approach• Management start-up or platform acquisition• Flexibility on size of acquisitions• Significant equity commitment for future

acquisitions• Industry expertise• Financing flexibility• Strategic orientation and long-term focus

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Representative Investments

• Transaction Network ServicesTransaction Network Services– Two acquisitions of electronic Two acquisitions of electronic

payment networkspayment networks

• AppNetAppNet– Twelve acquisitions of internet and e-Twelve acquisitions of internet and e-

commerce consulting and commerce consulting and implementation firmsimplementation firms

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Representative Investments

• AnswerThink Consulting GroupAnswerThink Consulting Group– Seven acquisitions in IT consulting, Seven acquisitions in IT consulting,

internet brand development and internet brand development and software implementationsoftware implementation

• DigitalNetDigitalNet- Partnered with AppNet team for - Partnered with AppNet team for

second time to acquire second time to acquire government IT services businessgovernment IT services business