History

Red Top Capital LLC was started in 1993 in Hartland, WI by Ted and Tom Rolfs. Red Top Capital LLC affiliated with two partners and investors located in North Carolina for seven years. While these two partners do not currently participate in transactions with Red Top Capital LLC they were involved with the earlier transactions completed by Red Top Capital LLC.

In total Red Top Capital LLC has participated in over 15 transactions since 1993. Ted and Tom are the active partners in Red Top Capital LLC and over the years we have accumulated a number of affiliated investors who will lend expertise and advice on any particular transaction. These affiliated investors are offered significant equity interests in our transactions. Their backgrounds vary from many different industries.

Past Portfolio Companies

Palmer Companies

The Palmer Companies consist of Palmer Tool Company and Palmer Contractors. Palmer Tool has facilities in Camden, TN and Saucier, MS, while Palmer Contractors is located in Camden, TN. Red Top Capital LLC owned 70% of both Companies and management owned 30%.

The Company's business is industrial repair and fabrication, primarily in the chemical industry. The Company performs machining, welding and fabrication on various types of process equipment, primarily for the paper, power and chemical industries. Specialties of the Company include code stamped fabrication, hard surface overlays, plasma transferred arc welding, refractory, installation of critical nickel alloy process components. Please visit Palmer Companies website for more information, or contact Dwayne Douglas- President/Owner at 731-584-4681.

In January of 2008 existing Management acquired the stock of all the outside investors affiliated with Red Top Capital LLC. This transaction provided a compounded return of approximately 16% to the investors of Red Top Capital LLC and achieved the long time goal of management to become the sole owners of the business. We are delighted with the return provided and the final outcome of this transaction.

Batteries Plus

Batteries Plus is a nationwide chain of retail outlets which sells a wide variety of batteries to both individuals and commercial accounts. Red Top Capital LLC investors acquired an interest in Batteries Plus in 1995. Batteries Plus plans to have over 400 outlets in all 50 states within three years. Please visit Batteries Plus web site for more information.

In November of 2007 a large private equity group acquired 100% of Batteries Plus—providing an exit for the investors of Red Top Capital LLC and the remaining founders of Batteries Plus. This transaction provided a return in excess of 33% compounded annually over the term of our investment.

Partners

Theodore R. Rolfs

Ted is the owner/partner of Red Top Capital LLC a private equity investment partnership since 1993. Prior to Red Top Capital LLC Ted was with Arthur Andersen specializing in tax matters. Ted is a member of the Board of Directors for all portfolio companies held by Red Top Capital LLC. In a capacity unrelated to Red Top Capital LLC, Ted served as a director for PanVera Corporation, and currently serves on the Board of Directors for Quintessence Biosciences.

Education:

  • B.S. in Electrical Engineering ('86), an MBA ('90) and JD ('90) all from the University of Notre Dame and is currently admitted to practice law in the State of Wisconsin.
  • Board of Directors for Tall Pines Land Conservancy- a 501(c) 3 land trust.
  • Trustee for The Nature Conservancy – WI Chapter
  • Advisory Council for The University of Notre Dame Law School
  • Waukesha County Board of Supervisors since 2006
  • Public Service Prosecutor Waukesha County, WI 5/2005—12/2007

Thomas J. Rolfs Jr.

Tom is a partner with Ted in Red Top Capital LLC. Tom serves on the Board of Directors for several portfolio companies controlled by Red Top Capital LLC.

Tom holds an Industrial Engineering degree B.S. ('80) and MBA ('83) from the University of Notre Dame.

Prior to working at Red Top Capital LLC, Tom worked at Robert W. Baird and Co. for over twenty years in the institutional bond sales department.

In addition to the two listed partners Red Top Capital LLC maintains affiliations with many industry executives from both public and private companies. All of our affiliated investors are invited to participate in our transactions on the same basis as the Red Top Capital LLC partners. In addition they provide us with expertise in many different industries.