At the time of our investment, Teepak was a leading manufacturer of cellulose and fibrous casings for the processed meat industry with about $200 million in revenue. The company was based near Chicago with operations in the U.S., Belgium, Netherlands, Czech Republic and Mexico. Lake Pacific purchased Teepak from Devro, plc, a London Stock Exchange listed company, in 2001. We exited the North American Operations via sale to Viscofan, a publicly traded manufacturer of cellulose and collagen casings, in 2006. Subsequently, we exited the European Operations via sale in 2007 to Visko Holdings, a manufacturer of fibrous casing and a portfolio company of Eriksson Capital. Lake Pacific realized an IRR in excess of 50% on its investment.