Robert Carmack

Obsidian invests in small- and mid-cap companies in basic industries such as manufacturing and transportation. They conduct business through four subsidiaries: Classic Manufacturing, Inc., a manufacturer of commercial, racing and recreational trailers; Pyramid Luxury Coach, Inc., a leading provider of corporate, team and day coach transportation; United Trailers, a manufacturer of steel-framed cargo, racing, ATV and specialty trailers; and U.S. Rubber Reclaiming, Inc., a butyl rubber reclaiming operation. Obsidian acquires historically profitable, small and middle-market companies that operate in niche markets of basic industries. Obsidian's strategy includes (1) investment discipline (2) the targeting of smaller investments (3) transaction control (4) broad management experience (5) diversification (6) strong origination capabilities and (7) active management.