Andrew M. Paul
apaul@sopriscapital.com

Sopris Capital was established in 2002 as the personal investing entity for Andy Paul and partners. Mr. Paul is the managing member of Sopris Capital, as well as the Chairman of Enhanced Capital Partners (ECP) and the managing general partner of the Enhanced Equity Fund (EEF).

Mr. Paul has been actively engaged in private equity and venture capital investing for approximately 25 years, primarily in the healthcare industry. In 1984, he joined Welsh Carson Anderson & Stowe (1984-2000), a private investment firm that specializes in venture capital/LBO opportunities, after working for the venture capital group of Hambrecht & Quist as an Associate (1982-1983). Since its founding in 1979, Welsh Carson has become one of the oldest, largest and most successful private equity investment firms in the U.S. focusing exclusively on information services, communications and healthcare. During his 16 year tenure at Welsh Carson, he was jointly responsible for healthcare investing and was one of two lead partners for 38 investments in the healthcare industry, serving on the board of directors of 11 companies that successfully completed public offerings. At the time he left the firm in 2000, he had held a position on the Management Committee as a senior executive of the firm, and the firm had grown to an aggregate capital base of approximately $12 billion, which was an 84 times increase in capital over Mr. Paul's tenure with the firm. Mr. Paul retired from Welsh Carson in September 2000 to focus his time on ECP and his other investment interests including Sopris Capital.

Andy Paul is currently the Chairman and largest shareholder of ECP, a state-sponsored small business investment vehicle formed in 1999 to provide capital to small and emerging companies in specified geographies. ECP currently has established investment funds in Alabama, Colorado, Louisiana, New York, Texas and Washington, D.C. He is also the managing general partner of EEF, a $225 million equity fund focused on buyouts of and growth capital for lower middle-market companies that closed in 2005.

Andy received his B.A. from Cornell University in 1978 and his MBA from Harvard Business School in 1983. He is a member of the Board of Trustees of Cornell University, the Board of Directors of Lawrence Hospital and the co-chairman of the Cancer Research Institute. He lives in Bronxville, New York with his wife Margaret and their four children.

Jon Kaiden
jkaiden@sopriscapital.com

Jon Kaiden has been a principal and founding member of Sopris Capital since 2003. He has more than 15 years of private equity and financial transaction experience, with a strong focus on healthcare and information technology.

Mr. Kaiden has led a number of investment transactions over his career and currently sits on the boards of directors of Hotel Technology Solutions, Inc., SRS Software, Inc., Mystique Brands LLC and Planet Payment, Inc. and is an advisor to the boards of icrossing, inc. and Valutec Card Solutions, Inc.

Before joining Sopris Capital in early 2003, Mr. Kaiden spent the prior twelve years as an investment banker and securities attorney focusing on corporate finance and mergers & acquisitions. He began his investment banking career at S.G. Cowen, where he provided corporate finance services and advice to companies throughout the healthcare industry, including biotechnology, pharmaceutical, medical devices and healthcare services. After his associate years at S.G. Cowen, he became a vice president with The Seabury Group, a boutique merchant banking group geared toward helping middle market companies obtain private equity and venture capital. He then headed Josephthal & Co.'s healthcare investment banking practice for the years prior to joining Sopris Capital. Prior to receiving his MBA, he practiced corporate and securities law for three years at the New York law firm Stroock & Stroock & Lavan.

He holds an M.B.A., with honors, phi beta kappa, from Columbia Business School (1996), and J.D., cum laude, from Brooklyn Law School (1991). He obtained his undergraduate degree, B.A., in government from Cornell University (1988).

William B. Horne
whorne@sopriscapital.com

Bill Horne joined Sopris Capital Associates in October 2007.  He has more than 25 years of operational experience with a variety of companies with a focus on transaction processing, information technology, software development and distribution.

Since 2004 Bill served as President and Chief Executive officer of Valutec Card Solutions, a Sopris Capital company that was sold to Metavante in January 2007.  From June 2000 through January 2003 he was President and Chief Executive Officer of Cignify Corporation.  In June 1997 he became President of First Data POS, which included the MicroBilt and Gamma companies of First Data Corporation.  From November 1995 through June 1997 Mr. Horne served as Vice President and General Manager of First Data's Terminal Services Group.  From 1994 through 1995, he was Vice President and General Manager of Financial Products Software Group including OnLine Banking and Coin Financial software.

Prior to joining First Financial Management in 1991 Mr. Horne held various management positions at IBM for nine years.  He holds a B.S. in Business Administration from California Polytechnic State University, San Luis Obispo.