Tracer Industries, Inc.
In February 1998, the predecessor of Milestone (Milestone Capital, Inc.) closed an acquisition of a controlling interest in a petrochemical and industrial services company based in Houston, Texas with offices in Louisiana and Canada. The company provides turnkey design, engineering and construction of heat traced piping in petrochemical and industrial applications. In this transaction, the owners, who were also the top management, sold a controlling interest in the company. This transaction was also structured as a partial recapitalization of the company.
On August 9, 2000, 100% of the capital stock of the company was sold to a subsidiary of Tyco International, Ltd. ("Tyco"). The capital stock of Tyco is publicly traded on the New York Stock Exchange, the London Stock Exchange and the Bermuda Stock Exchange (NYSE-TYC, LSE-TYI and BSX-TYO, respectively). The internal rate of return to the Milestone group for its investment in the company was in excess of 75%.
Three Riverway 
Suite 1010
Houston, Texas 77056
telephone
713 993 0303
facsimile
713 993-0711
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