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-----Original Message-----
From: "Neil Callahan" <ncallahan@rosemontseneca.com>
Date: Tue, 4 May 2010 12:25:45
To: 'Eric Schwerin'<eschwerin@rosemontseneca.com>
Cc: 'Hunter Biden'<hbiden@rosemontseneca.com>; 'Mike Muldoon'<mmuldoon@rosemontseneca.com>; 'Devon Archer'<darcher@rosemontseneca.com>
Subject: RE: DuCool/Aqua Sciences

Is Marlin Patterson investing on the Aqua side? If so could they be considered a Sponsor from a Co-Invest perspective? Aqua is holding $4.5m open for Rosemont Seneca to potentially fill?


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Neil Callahan

Rosemont Seneca

401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965

1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880

917-945-9516 (mobile)

866-749-8879 (fax)


From: Eric Schwerin [mailto:eschwerin@rosemontseneca.com]
Sent: Monday, April 26, 2010 10:18 AM
To: <ncallahan@rosemontseneca.com>
Cc: Hunter Biden; Mike Muldoon; Devon Archer
Subject: Re: DuCool/Aqua Sciences


There is no pitch book or current opportunity to invest in DuCool right now. Matlin Patterson pretty much has that locked up. The investment opportunity would likely be on the Aqua side. I'll see what they have. The trick is whether it would be considered a co-invest opportunity or not. The agreement was Matlin is going to put up to $60 million into DuCool but that Aqua would not take any investment from Matlin. We have been told that Aqua would like additional capital at some point soon (in the 5-10m range I believe) and we'd have the opportunity to invest or help place that. (Aqua will benefit from DuCool's $60m because they share the same production facilities - hopefully to be located in DE.)


We will organize a meeting/call in the coming week or two with them and anyone in the NY office appropriate to focus just on what the investment opportunity is.

Eric D. Schwerin

eschwerin@rosemontseneca.com


Sent from my iPhone


On Apr 26, 2010, at 8:56 AM, "Neil Callahan" <ncallahan@rosemontseneca.com> wrote:

Eric,


Did we ever get the Pitch Book for investing in DuCool/Aqua? We’d like to get it in front Devon and David to evaluate.


Best,


Neil


------------------------------------------------------------------------------------------

Neil Callahan

Rosemont Seneca

401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965

1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880

917-945-9516 (mobile)

866-749-8879 (fax)