OUR Investments
Morningside does not charge (and has never charged) transaction, closing, monitoring, or board fees nor does it charge expenses to any of our portfolio companies.
CURRENT INVESTMENTS
MPI invested in Vonlane, a provider of scheduled luxury bus service that began in Texas and is expanding to other states.
MPI has invested $25 million into a manufacturer of equipment used in commercial and industrial construction. This investment was sold in August 2023.
PAST INVESTMENTS
MPI invested in Dakota Bodies, one of the largest utility body manufacturers in the US, to support its national growth plans. We exited this investment in 2020.
MPI has backed a tenured commercial and technical ship management team to purchase, operate and maintain LR1 product tankers.
During the 2002 recession, MPI formed an investment entity to create a portfolio of public, but illiquid distressed debt and equity securities of industrial companies that we had come to know over a long period of time prior to the investment. We successfully exited this portfolio in 2006 during the upturn in the economy.
PressPass is a sports trading card and memorabilia company. We exited the investment in 2014.
MPI invested with an established St. Louis family company - with a long history in the barge and towboat business - to acquire boats and barges at a time of industry distress. We exited this investment in the 1990s.
a competitor, Miller-Meteor, the business combination resulted in a profitable enterprise. We exited this investment in 2003.
MPI created this business to acquire short line railroads, ultimately acquiring nine railroads ranging in size from 20 miles to 600 miles. We centralized management functions and improved the operational performance of the businesses. We exited this business in 2003.
MPI invested in the shares of two publicly traded railcar manufacturing and leasing companies during a time of distress to support their strategic plans. We exited the last of these investments in 2006.
MPI invested in conjunction with an experienced pipeline/gathering system operator in Oklahoma, acquiring three additional small gas gathering systems in Texas and Oklahoma. We exited this investment in the 1990s.
MPI acquired the independent bulk liquid terminaling business of Wickland Oil on the West Coast, primarily focused on handling crude oil and refined petroleum products. We subsequently acquired the terminaling assets of an independent refiner on the West Coast (Time Oil) and became the largest competitor on the West Coast. We exited this investment in 2002.
The company is the leading provider of security monitoring systems for apartment complexes in the U.S. and also has a residential/commercial security component. We exited this investment in 1990s.
Arthur Building Systems was a distressed manufacturer and lessor of modular buildings in the Northeast with very strong market positions in the core end-use markets of schools and prisons. We acquired the business during a downturn in the banking system. We exited this investment in 2003.
Morningside created a retirement community management company in conjunction with an experienced industry operator. This platform was used to acquire four very large distressed retirement communities that incorporated independent living, assisted living and nursing homes on a single site. In addition, we managed properties for others on a third party basis. We exited this investment in the 1990s.
Hartco was a mail hauler under long term contracts for the U.S. Post Office. We expanded the business through four add-on acquisitions in the same industry over a period of twelve years. We exited this business in 2001.
Enerfin is a large gas gathering and processing system located primarily in the Southwest. As a result of operational and contractual changes we made with our customers, the value of the business was dramatically improved through cash flow growth. We exited this business in 1990s.