Fastener Distribution & Marketing Company, Inc., Bensalem, PA

In July 2000, DCC Growth Fund invested $2 million as part of a $20 million financing package to accomplish a roll-up of three fastener companies serving different markets; thereby creating a platform for growth through expanded operations and additional acquisitions. The investment is in the form of 12% Cumulative, Convertible Preferred Stock.

One of the acquired companies is a Philadelphia area ISO 9000 certified distributor providing specialty fasteners primarily to the Federal Government for equipment maintenance. A second company is a Pittsburgh area company that sells commodity fasteners and industrial supplies. The third company is in Columbus, OH and provides specialty fasteners to original equipment manufacturers in the automotive, heavy truck and sheet metal business. Most of the management team is composed of executives of the acquired companies. The workforce of 52 is expected to grow as the company expands.

In February 2002, DCC Growth Fund provided an additional $500,000 in equity financing bringing the total investment to $2,500,000; and in December 2002 with SBA approval, the Fund purchased the company's Note held by Finova Mezzanine Capital for $1,250,000. The total amount of financing provided to FDMC is $3,750,000.