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1 The National Center for the Middle Market at The Ohio State University defines the middle market as including companies that have $25 million to $1 billion in revenue.

P U B L I C A F FA I R S M E D I A K I T 2 0 1 6P R I V AT E C A P I TA L , P U B L I C G O O D .®

GLOBAL HEADQUARTERS | 125 S. WACKER DRIVE, SUITE 3100 | CHICAGO, ILLINOIS 60606

WASHINGTON D.C. OFFICE | 1200 G STREET, NW #800 | WASHINGTON, D.C. 20005

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TABLE OF CONTENTS

ABOUT ACG AND THE MIDDLE MARKET

ACG GLOBAL EXECUTIVE STAFF

ACG VOLUNTEER LEADERSHIP

FAQS ABOUT THE MIDDLE MARKET & PRIVATE EQUITY

ACG’S 2016 PUBLIC POLICY PRIORITIES

ACG PRIVATE EQUITY REGULATORY TASK FORCE

CONTACT INFORMATION

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ABOUT THE ASSOCIATION FOR CORPORATE GROWTH Founded in 1954, the Association for Corporate Growth has 59 chapters and 14,500 members around the world. ACG serves 90,000

investors, owners, executives, lenders and advisers to growing middle-market companies. ACG’s mission is to drive middle-market growth.

ACG is an established global business network that includes the entire “M&A deal ecosystem”:

• Private Equity Groups

• Intermediaries and Investment Banks

• C-Suite Executives

• Lenders

• Business Valuation and

Due Diligence Services

• Software Solutions

• Virtual Data Rooms

ACG–THE HOME OF MIDDLE-MARKET PRIVATE EQUITY

ACG members account for:

• 1,100 deals closed in 2014

• 60% of U.S. private equity deal flow

• $158 billion of total capital invested

• 44% of total capital invested in the middle market

• 382 exits in 2014

ABOUT THE MIDDLE MARKET

The middle market is the principal engine of the U.S. economy. According to the National Center for the Middle Market at the Fisher College

of Business at The Ohio State University, this segment accounts for one-third of private sector GDP and produces more new jobs than large

or small businesses. With 47.9 million employees, the vitality of the middle market is critical to the health of American families, communities

and the overall economy.

Impressively, middle-market firms added twice as many jobs in 2014 as in 2013. To continue driving growth, midsize companies need

access to both financial and knowledge capital to successfully reach new markets, expand capacity and better serve their customers.

Middle-market firms also need federal policies that reward prudent risk-taking, support and encourage capital formation, enhance access to

capital and expand access to the global marketplace.

ACG’s Public Policy Agenda for the 114th Congress helps fulfill the organization’s mandate to support policymakers in crafting legislation

and regulatory policies that positively impact the middle market and ACG members. Structured into three broad categories, this agenda

promotes public policies that foster and incentivize private capital formation and investment in middle-market companies.

The National Center for the Middle Market’s definition of the middle market includes companies with $10 million to $1 billion in

annual revenue.

For additional information or to schedule an interview, please contact:

Amber Landis, vice president of public policy at alandis@acg.org or 312-957-4272. Kristin Gomez, vice president of communications and marketing at kgomez@acg.org or 312-957-4268.

1 The National Center for the Middle Market at The Ohio State University defines the middle market as including companies that have $25 million to $1 billion in revenue.

ABOUT ACG AND THE MIDDLE MARKET

• Information Services

• Legal Services

• Accounting and Auditing Services

• Real Estate Services

• Insurance Providers

• Wealth Services

• Executive Recruitment

• Limited Partnerships and Family Offices

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GARY A. LABRANCHE, FASAE, CAE President & CEO, ACG Global

Gary LaBranche, FASAE, CAE, is president and CEO of ACG Global. Since LaBranche became CEO in 2008, ACG

has added chapters and grown membership around the world, created the award-winning digital magazine Middle

Market Growth, launched a European conference and established new ways to educate policymakers on private

capital investment in the middle market, including creating the Congressional Caucus for Middle Market Growth and

GrowthEconomy.org.

An association professional for more than 32 years, LaBranche was named a fellow of the American Society of

Association Executives in 1995. He was the ASAE Key Award winner for 2007, the highest award in the profession.

ASSOCIATION TRENDS named him the 2012 Association Executive of the Year. He is also a member of the U.S.

Chamber of Commerce’s Association Committee of 100.

AMBER LANDIS Vice President, Public Policy, ACG Global

Landis joined ACG in March 2013 and serves as vice president of public policy. Landis oversees ACG’s day-to-day

public policy program, advocating before Congress and the U.S. Securities & Exchange Commission. She also

manages ACG’s Private Equity Regulatory Task Force, a group of middle-market private equity chief compliance

and financial officers who come together to address concerns about regulatory and compliance issues. Landis also

coordinates ACG’s advocacy and lobbying activities.

Previously, Landis worked in the Washington, D.C., office of Fortune 200 manufacturer Whirlpool Corp., advocating

before Congress on issues such as tax and international trade. She managed the company’s political action committee

and grassroots efforts.

Landis has also served as manager of public affairs for TenCate USA, a multinational defense and textiles technology

group based in the Netherlands. She opened the company’s first government relations office in Washington, D.C.,

overseeing all public affairs activities, including lobbying, public relations and the establishment of a political action

committee. Landis also previously worked at a retail trade association where she represented some of the largest

retailers in the world, including Wal-Mart Stores Inc. and Home Depot Inc., on international trade and labor-related

issues. Landis holds a bachelor’s in business management from Grand Valley State University.

KRISTIN GOMEZ Vice President, Communications and Marketing, ACG Global

Kristin Gomez joined the ACG staff in October 2012 as editor in chief. She led the successful launch of the Middle

Market Growth suite of publications and helped to craft ACG’s strategy to build readership and provide a platform to

generate revenue through advertising and thought leadership opportunities. The magazine recently won a 2015 Folio

award for design and a 2014 award for best editorial in a standalone digital magazine. In her role as vice president of

communications and marketing, she is responsible for overseeing the MMG suite of publications, strategic internal

and external communications in addition to providing support to the public policy efforts. She also leads the marketing

initiatives for ACG programs, events, products and services.

ACG GLOBAL EXECUTIVE STAFF

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RICHARD P. JAFFE Chairman of the Board, Partner, Duane Morris LLP

Richard P. Jaffe is co-head of Duane Morris’ Private Equity Practice Group and focuses on control and non-control investments, fund formation and operation, divestitures, corporate finance and venture capital financing, particularly in the alternative energy, technology and manufacturing industries. He represents private equity funds and other investors and strategics in corporate transactions and advises business owners on raising capital to grow and exit their companies, as well as structuring public and private securities offerings, mergers, acquisitions and sales. In addition, Jaffe also counsels boards and committees of boards on corporate governance issues; he is a frequent lecturer on these issues.

ACG VOLUNTEER LEADERSHIP

JASON BROWN Vice Chairman of the Board, Partner, Victory Park Capital

Jason Brown joined Victory Park Capital in 2014 as partner and manages the firm’s Los Angeles office. He is primarily responsible for sourcing, analyzing, executing and managing private debt and equity investments in lower middle-market companies. Brown also actively works on value creation initiatives and strategic alternatives for VPC’s investments. Brown is a member of the firm’s Management and Investment Committees.

Brown has more than 18 years of experience in financial services. Most recently, he was managing director for GE Capital, Corporate Restructuring Finance for more than 10 years, during which he and his team provided growth, working capital and turnaround finance to midsize and large companies. His team also specialized in senior secured loans to distressed companies supporting Chapter 11 filings, plan-of-reorganizations and out-of-court restructurings. He has served as president of the Los Angeles chapter of ACG, where he is a current chapter and global board member. Brown received a bachelor’s in business administration from the University of Southern California.

GRETCHEN B. PERKINS Co-Chair, Public Policy, Partner, Huron Capital Partners

Gretchen Perkins is responsible for managing Huron’s business development and investment sourcing activities, including outreach to deal professionals such as business brokers, investment banks, attorneys, accountants and consultants.

Perkins has over 25 years of experience in the finance and business development sectors serving a variety of capital market participants. Prior to joining Huron, Perkins led the acquisition sourcing efforts at Long Point Capital, a middle-market private equity fund. She previously served as vice president of business development for IRN Inc., a market research firm, and has held senior business development positions at Fleet Capital Corporation and GE Capital Corporation, where she originated and structured senior debt packages for buyouts of middle-market companies.

Board Affiliations: Perkins is a director at large for ACG’s global board of directors, a director for ACG’s Detroit chapter, co-chair of ACG’s Public Policy Committee, a board member for the Michigan chapter of the International Women’s Insolvency & Restructuring Confederation and a mentor for the Women of Tomorrow organization, which mentors at- risk high school girls.

JOHN B. DOLLISON Co-Chair, Public Policy, Managing Director, Crutchfield Capital Corporation

As a founding principal of Crutchfield Capital Corporation, Dollison has more than 16 years of investment banking and corporate finance experience. He has successfully managed numerous merger and acquisition assignments, debt and equity private placements, troubled company restructurings and complex business valuations. Previously, Dollison enjoyed an extended career with Exxon, where he held a variety of management positions in finance, marketing and operations.

Dollison is a graduate of the United States Military Academy and received an MBA from Marymount University. He is a past president and board member of the Houston chapter of ACG and has served as chairman of the Texas ACG Capital Connection, one of the largest private equity conferences in the United States. In addition, he is licensed with the Financial Industry Regulatory Authority as a general securities representative and general securities principal.

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The ACG public affairs media kit was created to engage senior leaders, middle-market firms, media, the general public and policymakers who care about the future of private capital investment in the middle market.

The goal is to support the efforts to educate policymakers and -shapers about the role that private capital investment plays in the overall health of the U.S. economy by supporting the middle market.

ACG encourages the growth and development of middle-market companies by supporting policies that foster and incentivize private capital investment.

WHY THE MIDDLE MARKET MATTERS

Midsize businesses are a key driving force behind the U.S. economy, making critical national, state and local economic contributions. According to the National Center for the Middle Market:

• The middle market includes companies with $10 million to $1 billion in annual revenue.• The middle market accounts for one-third of private sector GDP—if this segment were a country, its GDP would rank it as the fifth-

largest economy in the world.• There are nearly 200,000 mid-market companies in the United States, and they employ an estimated 47.9 million workers.• Middle-market businesses outperformed during the financial crisis (2007-2010) by adding 2.2 million jobs in major industry sectors

and congressional districts across the country.• Middle-market firms added twice as many jobs in 2014 as in 2013.• Reps. Steve Stivers, R-Ohio, Jared Polis, D-Colo., Tom Rice, R-SC, and Kyrsten Sinema, D-Ariz., currently chair the Congressional

Caucus for Middle Market Growth in the U.S. House of Representatives.

For more information on the caucus members and activities, please contact Amber Landis, vice president of public policy, at alandis@acg.org.

GROWTHECONOMY.ORG

ACG released groundbreaking research in 2013, which can be found at www.GrowthEconomy.org. Using multiple independent databases, GrowthEconomy.org shows the positive impact that private capital investment has on corporate growth and job creation in the United States. The research found that between 1995 and 2013:

• Private equity-backed companies grew jobs by 83.7%, while all other companies in the U.S. economy grew jobs by 26.5%;

• Private equity-backed companies grew sales by 134%, while all other companies in the U.S. economy grew sales by 31%; and

• Middle-market private equity-backed companies created more than three times the amount of new jobs (970,869) than any other employment stage.

MIDDLE-MARKET PRIVATE EQUITY STATISTICS

• ACG’s membership includes more than 1,200 U.S.-based private equity firms; • According to PitchBook data, private equal deals under $500 million account for 85.1 percent of all deals in 2015; and• According to Preqin’s 2015 Global Private Equity report, almost half of all private equity investment comes from pension

funds, foundations and university endowments. These investors have realized a 10-year annualized return in excess of 10 percent and superior to all other asset classes.

WHO BENEFITS FROM PRIVATE CAPITAL INVESTMENTS?

Private capital is raised and deployed from a number of sources. Two-thirds of private equity funds come from pension funds, endowments, etc. These funds support the retirement plans for teachers, firemen, police and other public employees. The goal of all private capital investment is to invest in strong companies and make them stronger. When the term of investment is complete, usually five to seven years after the initial investment, the financial proceeds in excess of what is deployed is returned to the pension, endowment, etc.

FAQS ABOUT THE MIDDLE MARKET & PRIVATE EQUITY

*Sources: National Center for the Middle Market (Compustat, Dun & Bradstreet, U.S. Census Data)

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The ACG priority legislative agenda for the 114th Congress is as follows:

1. PRESERVE INTEREST DEDUCTIBILITY ON CORPORATE DEBT ACG believes debt financing is critical to support business expansion and investment, in addition to providing an important source of

funding to middle-market companies. ACG opposes efforts to eliminate the long-standing deductibility of interest as an “ordinary and

necessary” cost of doing business.

2. REDUCE ONEROUS COMPLIANCE & REGULATORY BURDENS FOR MIDDLE-MARKET PRIVATE EQUITY An area of concern for many ACG members is the requirement that private equity fund advisers register as investment advisers with the

SEC under the Investment Advisers Act of 1940 (IAA). Registration to comply with the Act has been challenging, confusing and costly

for midsize private equity firms without conferring any corresponding public benefit. ACG would welcome and support legislation that

would allow private equity fund resources to be directed back to middle-market companies and let private equity funds to devote their

resources to support and foster the growth of their portfolio companies. In the 114th Congress, ACG will actively support legislation

that seeks to remove burdensome compliance requirements for middle-market private equity funds.

3. PRESERVE THE CURRENT ‘JOINT EMPLOYER’ LEGAL STANDARD FOR MIDDLE-MARKET BUSINESSES Recent action by the National Labor Relations Board could put contractual business relationships at risk by shifting liability over

employment disputes to more companies. Upending the current, well established, joint employer standard—which limits the definition

of a joint employer to those companies exercising direct operational control over their workers—would cause uncertainty and disruption

for many small and midsize business owners, force some small businesses to close and deter aspiring entrepreneurs from opening

businesses and creating new jobs. Identical bills have been introduced in the House of Representative and Senate, the “Protecting

Local Business Opportunity Act,” which restore a simple definition of “joint employer” under the National Labor Relations Act.

4. MAINTAIN CAPITAL GAINS TREATMENT FOR CARRIED INTEREST ACG’s membership includes more than 1,000 middle-market private equity firms. Ninety percent of all private equity transactions in

2014 involved companies with less than $400 million in revenue; this suggests that ACG members provide integral growth capital for

the middle market. Fundamentally, private equity investments are long-term in nature, maturing after several years. Middle-market

private equity funds are commonly structured as partnerships in which fund managers commit entrepreneurial capital and assume

investment risk alongside their investors. Thus, the returns to the fund managers are taxed as capital gains. A modification to this

100-year-old tax treatment would jeopardize this long-standing partnership model. ACG will work with Congress to ensure middle-

market private equity investing is not disproportionately impacted in tax reform discussions.

In addition, ACG will monitor other public policy agenda items outlined in the 2015/2016 Middle-Market Public Policy Agenda and will utilize resources to support:

5. LOWERING THE CORPORATE TAX RATE (TO 25%) The statutory corporate tax rate in the United States is 35 percent, with an average combined (federal and state) rate of 39.1

percent. Meanwhile, global competitors have a combined average rate of 25 percent, making America’s current corporate rate the

second highest in the world—a competitive disadvantage. A 25 percent corporate tax rate for middle-market businesses would make

the United States a more attractive investment environment for American and foreign companies, helping to create jobs and drive

economic growth.

ACG’S 2016 PUBLIC POLICY PRIORITIES

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In 2014, ACG formed its Private Equity Regulatory Task Force (PERT), which gathers together CFOs, CCOs and in-house legal counsel of middle-market private equity firms nationwide. Together, they interpret and navigate the often complex compliance and regulatory issues affecting the industry. With the help of the ACG PERT Steering Committee, six key compliance and regulatory issues areas have been identified as the most pressing issues for middle-market private equity firms:

1. Disclosure of fees and expenses

2. Co-investment

3. Broker dealer registration

4. Valuations

5. Marketing and advertisements

6. Cybersecurity

Members of ACG PERT have broken these areas into subgroups and are currently working on drafts of best practices called “PERT Principles.” ACG expects principles to be provided for middle-market private equity firms in Q4 of 2016.

ACG PRIVATE EQUITY REGULATORY TASK FORCE

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GLOBAL HEADQUARTERS

125 S. WACKER DRIVE, SUITE 3100

CHICAGO, ILLINOIS 60606

WASHINGTON D.C. OFFICE

1200 G STREET, NW #800

WASHINGTON, D.C. 20005

WWW.ACG.ORG

WWW.MIDDLEMARKETVOICE.ORG

WWW.GROWTHECONOMY.ORG

For more information, please visit www.ACG.org

or contact Amber Landis, vice president of public

policy, at alandis@acg.org or 312-957-4272, or

Kristin Gomez, vice president of communications

and marketing at kgomez@acg.org or 312-957-4268.

For in-district congressional data, please visit

www.growtheconomy.org.