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Company Genealogy

• 1981: Biddinger founds Sun Financial [later includes Lafferty and Odden]. Sun Financial builds portfolio of technology-related assets and general equipment, emphasizing equipment knowledge and remarketing for residual upside.

• 1982: Lane begins GATX Capital’s joint venture business model, which grows to include leasing functions of State Farm, Portland General Electric, ITW, Broad Corporation, and ultimately strategic partnerships with Burlington Northern/Santa Fe, Rolls Royce, AAE, Lombard, and others.

• 1995: Sun Financial acquired by GATX Capital [Lane is CEO of GATX Capital]. Sun Financial becomes platform for GATX Technology Services, which includes acquisition of Centron DPL.

• 1998: Lane becomes Senior Vice President of IBM and President of IBM Global Financing, overseeing growth to $44 billion.

• 1999: Bay4 Capital created as independent provider of technology-related financing. Bay4 builds its own portfolio, purchases Convergent Capital Corporation and provides private-label programs for regional banks, including Southwest Bank of Texas (SWBT) Leasing. Gonzalez joins Bay4 in 2001.

• 2002: Principals of Bay4 Capital create University Partners, a strategic, private equity firm dedicated to investing capital and management resources in growth-oriented companies.

• 2002: Bay4 Capital acquires Hyphos360, a database management and direct marketing services company. After introducing best-practices, assuming executive management roles, re-aligning employee incentives and compensation, undertaking capital acquisitions, and re-designing offerings and customer service agreements, sold the company in approximately 2 1/2 years at significant gain.

• 2003: Bay4 Capital acquires remaining leasing portfolio of Comdisco. Through a unique structure, Bay4 agrees to share improved proceeds from portfolio management (portfolio was approximately 265,000 assets involving $500,000,000 OEC), resulting in 100% payout to secured creditors and additional payout to equity – significantly greater than cash purchase offers from competitors.

• 2004: Bay4 Capital’s business sold to GE Capital, creating GE Technology Finance. Portions of retained portfolio become subject of a management agreement.

• 2005 University Partners invests in Next Generation Home Products (NGHP), Sun Print Management, Osborne Partners and others.

• 2007: Bay4 terminates portfolio servicing agreement with GE. “Bay4 Capital” name and marks retained by GE, with authorized use for servicing existing contracts only.

• 2008: Assets and resources of Bay4 Capital, C3, University Partners and other interests under common control are re-organized under the Sinter group of companies. Sinter is a term borrowed from metallurgy, meaning “To create cohesion, by applying heat, without melting the components.” This describes the Sinter approach of combining best practices of large, global corporations with best practices of entrepreneurial start-ups - providing both capital and experienced leadership to create value.

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