Press Releases | Page 17 of 17 | Matrix Capital Markets Group

Matrix Capital Markets Group Announces the Successful Recapitalization of Tri State Foam Products, Inc.

RICHMOND, VA – January 9, 2007 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the recapitalization of Tri State Foam Products, Inc., a Martinsville, Virginia based manufacturer of expanded polystyrene foam (“EPS”). Harbert Management Corporation, a $7.1 billion private investment firm headquartered in Birmingham, Alabama, is the primary investor in the recapitalization. Matrix served as the exclusive financial advisor to Tri State on the transaction.

Initially founded in 1984 as a block molder of EPS serving the building products industry, Tri State has since grown to become the leading diversified EPS foam producer in the Mid Atlantic. Today, the company’s production capabilities include both block molding and shape molding, and the company’s product line has been expanded to include a wide range of protective packaging in addition to building products.

Kevin Farrell, President and CEO of Tri State, retained Matrix to assist the company in evaluating strategic options ranging from growth by acquisition to finding a strong financial partner that would provide the company’s shareholders with a significant liquidity event. Tri State also sought to partner with a firm that would continue to support the company’s historic record of strong sales growth. Kevin Farrell, who will continue in his role as President and CEO, commented “Matrix proved to be an invaluable partner in the process of identifying the right financial partner to help take the company to the next level and in negotiating the best terms and conditions on behalf of Tri State’s shareholders.”

Bill Weirich, Managing Director and Principal at Matrix, commented “We are very pleased with the outcome of this transaction. We received heavy interest in the company from a large number of private equity firms as well as several potential strategic buyers. In the end, a recapitalization in partnership with Harbert was the best solution for Tri State and its shareholders.” Bryan Johnson, Vice President for Matrix, added “We have had a long standing relationship with Tri State and have enjoyed working with Kevin and his team on this transaction. We helped explore and evaluate a number of different alternatives to support the company’s rapid growth and new product lines. Ultimately we decided to partner with a private equity firm given the strong interest in high quality opportunities among middle market equity groups.”

About Matrix Capital Markets Group
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies. Our primary advisory services include company sales, asset divestitures, recapitalizations, management buyouts, capital raises of debt & equity, corporate recovery, fairness opinions and valuations. Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, business services, consumer products, healthcare, lumber and petroleum marketing & distribution. For additional information, please visit www.matrixcmg.com.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Capital Markets Group Announces the Successful Sale of Southern Convenience Stores, Inc.

RICHMOND, VA – January 8, 2007 - Matrix Capital Markets Group, Inc. announced today the successful closing on substantially all of the assets of Southern Convenience Stores, Inc., a North Carolina based owner and operator of retail petroleum marketing outlets and convenience stores throughout North and South Carolina.

In July of 2006, Matrix began marketing the Company’s 68 company operated stores through a structured sale process. The stores sold a total of approximately 40 million gallons of motor fuels in 2005 and averaged approximately $600,000 of merchandise sales per store. Forty-one of the stores were offered with real estate, with the remaining 27 subject to leases.

Matrix’s competitive sale process resulted in eight of the stores being acquired by family members of Babubhai Patel and six of the stores were purchased by McCray’s Country Cupboard. Another 47 stores were acquired by various other buyers.

Mike Frost, President of Southern Convenience Stores, Inc., commented on the sale process, “Considering the complexity of Southern's operating geographies, Matrix was able to access a broad spectrum of potential buyers from across the country. I found that Matrix's proprietary buyer network was extremely important in this process. Their experience in designing marketing processes that maximize value in selling companies, along with their ability to network new and previously known potential buyers made for a very successful transaction.”

Tom Kelso, Managing Director and head of the Energy and Multi-Site Retail Group at Matrix managed the transaction and added, “We are honored to have been selected to manage this sale and have enjoyed working with Mike Frost and Hampton Hager as they exit the retail petroleum business. The outcome we achieved was the result of a well designed and executed process that created competition for the assets amongst various types of potential buyers.”

Matrix Capital Markets Group Announces Another Successful Cross Border Transaction with the Sale of American Commercial

RICHMOND, VA - November 14, 2006 - Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of American Commercial, Inc. to DSI USA, Inc. American Commercial, based in Bristol, VA with operations in Louisville, KY, is the leading North American designer and manufacturer of underground steel supports used primarily in the underground construction and mining industries. DSI USA is a subsidiary of Munich, Germany based DYWIDAG-Systems International, a global manufacturer of products and systems for the mining and tunneling industries and a portfolio company of European private equity firm Industri Kapital.

Founded in 1920, American Commercial offers a complete selection of custom designed and engineered ground control solutions for mining and tunneling projects. The company has a long history of designing and manufacturing underground structures and support systems, including a number of industry firsts, such as the first solid, square-cornered tunnel liner plates which it designed and patented in 1926, and the first steel linings for use with shields which it designed and patented in 1927. With well over eighty years of experience, American Commercial has completed thousands of projects on six continents.

In commenting on the transaction, Jim Marianski, CEO of American Commercial stated, “We believe DSI has a great global platform in the tunneling and mining industries, and American Commercial is a natural fit with DSI’s current operations. The addition of American Commercial’s existing manufacturing base will enhance DSI’s global tunneling operations and create a stronger platform for growth in North America.”

Bill Weirich, Managing Director and Principal with Matrix added, “We were thrilled to be a part of the successful sale of American Commercial to DSI. This transaction represents the culmination of a ten year relationship with American Commercial that began in 1996 when Matrix assisted American Underground Structures with the acquisition of Commercial Pantex Sika, its largest competitor, to create American Commercial, one of the leading underground support manufacturers in the U.S.”

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Capital Markets Group Announces the Successful Sale of Thermex-Thermatron, Inc.

RICHMOND, VA – October 19, 2006 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of Louisville, Kentucky based capital equipment manufacturer Thermex-Thermatron, Inc. to Dyad Partners, a private equity firm headquartered in Bethesda, Maryland. Matrix served as the exclusive financial advisor to Thermex-Thermatron on the transaction.

Founded in 1939, Thermex-Thermatron has an extensive history in the industrial heating equipment market. The company is a leading manufacturer of highly engineered microwave heating and drying equipment and radio frequency welding and sealing machines that are used in a wide range of industrial applications.

Alan Kwiatkowski, President, CEO and majority owner of Thermex- Thermatron, retained Matrix to assist in finding a buyer that would provide the company’s shareholders with a significant liquidity event while maintaining a high level of confidentiality and ensuring that the company’s employees and customer base would remain intact. Matrix provided extensive assistance in positioning and preparing the company for its ultimate sale, and worked closely with the company’s shareholders, attorneys and accountants to coordinate the marketing process, due diligence, and the negotiation of the terms and conditions of the definitive purchase agreement.

Bill Weirich, Managing Director for Matrix, commented “The company’s primary shareholder was very concerned about maintaining confidentiality during the transaction and finding the right buyer to take Thermex to the next level. We had previously sold a business to Dyad and felt very comfortable about their ability to effect a smooth transition for the business.”

Bryan Johnson, Vice President for Matrix, added “Given the shareholders’ concern for protecting the company’s employees and customers, the transaction was ideally suited for a private equity firm that could partner with Thermex’s management team to further expand the company and better service its customer base.”

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Capital Markets Group Announces the Successful Sale of Aeriform Corporation

RICHMOND, VA – September 11, 2006 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of Aeriform Corporation, an industrial gas and welding supply distributor based in Houston, TX to Airgas, Inc., the largest US distributor of industrial, medical and specialty gases and related hardgoods.

Aeriform currently has 29 locations throughout Texas, Louisiana, Oklahoma and Kansas, with a total of 240 employees and annual sales of approximately $65 million. About 58% of its revenue comes from gas & rent, with the balance from traditional welding hardgoods. Matrix served as the exclusive financial advisor to Aeriform on the transaction.

"We are excited about joining Airgas through this transaction, which will offer great opportunities for our customers and our employees," said Michael Stoddard, President and CEO of Aeriform. He added, "Airgas is not only acquiring an outstanding group of customers, but an exceptionally talented team of associates, who have worked very hard over the years to build the company it is today."

Airgas will integrate most of Aeriform’s operations into three of its regional companies: Airgas Southwest will integrate 14 sites in Texas, including locations near Houston, Victoria, El Paso, and Lubbock. Airgas Gulf States will integrate seven sites in southern Louisiana and east Texas. Airgas Mid South will integrate two sites in Kansas, and four sites in Oklahoma, and two locations in Shreveport, Louisiana.

"We look forward to welcoming Aeriform associates, and to offering our new customers a broader product range to meet their gases, welding and safety product needs," said Mike Molinini, Executive Vice President and Chief Operating Officer for Airgas.

“It was a pleasure working with Mike Stoddard and the outstanding senior management team at Aeriform,” said Bill Weirich, Managing Director and Principal of Matrix, “This transaction is an excellent example of how a combination of industry expertise and a disciplined M&A process can deliver results that meet or exceed client expectations.” Mike Stoddard added, “Bill’s in depth understanding of our industry and the professional process conducted by Matrix were important factors in a successful transaction for all parties.”

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Capital Markets Group Announces the Successful Sale of FFP’s Stores

RICHMOND, VA – August 22, 2006 – Matrix Capital Markets Group, Inc. announced today the successful closing on substantially all of the assets of FFP Operating Partners LP, a Texas-based owner and operator of convenience stores and gas stations and fuel supply agreements in various states in the South and Midwest.

In late 2005, Matrix was approved by the U.S. Bankruptcy Court, for the Northern District of Texas, Dallas Division, to market 114 of FFP’s locations. As of today, FFP Operating Partners, L.P. has sold, received consideration for, or is under contract on 89 of the stores and fuel supply agreements. The 80 convenience stores and gas stations and fuel supply agreements where sale transactions have been completed were sold to 50 various purchasers, including Petroleum Wholesale, L.P.’s acquisition of 8 fuel supply agreements and Naeem Khalid’s acquisition of 7 stores. Matrix’s marketing efforts also allowed FFP to receive consideration from an existing landlord for another seven stores where land and equipment were successfully jointly marketed.

In total, FFP locations sold approximately 48 million gallons of motor fuels and $28 million of merchandise goods during the twelve-month period ended June 2005. Eighty-eight of FFP's stores and fuel supply agreements are located in Texas, seven are in Tennessee, five are in Missouri, four each are in Louisiana and Mississippi, three are in Kentucky and there is one store each in New Mexico, Oklahoma and Arkansas.

The few remaining locations still for sale can be found on the Matrix web site at http://www.matrixcapitalonline.com/ffpauction/ffp_storelist.html.

Matrix served as the exclusive financial advisor for the Debtor, FFP Operating Partners, L.P., in its Chapter 11 Bankruptcy Case. Tom Kelso, Managing Director and head of the Energy and Multi-Site Retail Group at Matrix, managed the transaction. “This was a difficult assignment because the bankruptcy case had been ongoing for nearly two years before the decision to sell the assets and hire Matrix was made,” said Kelso. “In addition, prior to filing bankruptcy, FFP had tried to market the assets and many potential purchasers had already looked at the assets and taken a pass. Despite facing these challenges, we believe that because of our unique sale process and the efforts of Mark Lipscomb and the FFP team, the results for the creditors have been excellent.”

Mark Lipscomb, President of FFP, commented on the sale process, “Tom, Cedric, Matt and the whole Matrix team were able to bring a wide variety of potential buyers down to our area, which helped maximize the proceeds for this sale process.”
Matrix’s Energy and Multi-Site Retail Group is recognized as the national leader in providing transactional advisory services to companies in the energy and multi-site retail sectors. Team members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, private debt and equity raises, corporate restructurings, and corporate valuation and long term planning engagements.

Matrix Capital Markets Group Announces the Successful Sale of the Corner Mart Chain

RICHMOND, VA, July 27, 2006 - Matrix Capital Markets Group, Inc. announced today the successful closing on the Corner Mart chain of convenience stores, owned by Bagwell Oil Company.

The ten (10) store chain, located on the Eastern Shore of Virginia, was acquired by Petroleum Marketing Group, Inc., a Maryland-based oil company jobber operating and supplying fuels to over 150 petroleum marketing and convenience stores.

Matrix served as the exclusive financial advisor to the seller and Tom Kelso, Managing Director and head of the Energy and Multi-Site Retail Group at Matrix, managed the transaction. “We are very proud to have been selected by Bill Bagwell [Owner & President of Bagwell Oil Company] to manage this transaction and very much enjoyed working with him and his team”, said Kelso. “We are confident that, because of the competition created by the Matrix process, Mr. Bagwell received the very highest value for his stores available in the marketplace today.”

Bill Bagwell remarked, "Matrix did an excellent job in packaging the offering and marketing the stores. Their ability to negotiate a sale of the stores under the terms and conditions we wanted made for a smooth transaction. We are very pleased with the outcome."

Bagwell Oil Company, a leading supplier of heating fuels for the Eastern Shore of Virginia, introduced the first self-service gasoline station to the area in the 1960’s. Bagwell was also instrumental in building the convenience store business for the area, and in 1991, the Company launched the Corner Mart chain and gradually grew it to ten locations. The stores sell convenience merchandise and Chevron branded motor fuels. In 2005, the stores averaged over 800,000 fuel gallons sold and approximately $600,000 of merchandise sales per store.

Matrix Capital Markets Group Announces the Successful Management Buyout of the Engineered Films Unit of PolyOne Corporation

RICHMOND, VA · February 17, 2006 · Matrix Capital Markets Group, Inc. announced today the successful management buyout of PolyOne Corporation's (NYSE: POL) Engineered Films business unit. The buyout was led by the unit's management team along with an investor group formed by Matrix. Senior financing for the transaction was provided by LaSalle Business Credit, a unit of ABN Amro.

Matrix served as the exclusive financial advisor to the management team and arranged the financing for the $27 million transaction. The new company will be named O'Sullivan Films, Inc. Denis Belzile, who headed the unit for PolyOne and is President and Chief Executive Officer of the new company, stated, “This is the best outcome for all involved because it provides continuity for our customers, suppliers, employees and the communities we are part of. The Matrix team led by Bill Weirich, Jeff Moore and Rob Mason did a fantastic job in helping us put this MBO together. We have an experienced, stable management team that knows the business well, and we are excited at the opportunity before us.”

Jeffrey Moore, President of Matrix Capital Markets Group, who will serve on the board of directors of O’Sullivan Films, noted, “This transaction is a very good fit with our firm’s capabilities, and we look forward to supporting the team in place. We believe the business has excellent potential.” Ron Kerdasha, Senior Vice President of LaSalle Business Credit, added, “From our perspective as a senior lender, it was a pleasure to work with the professionals at Matrix. Their expertise in these types of middle market transactions was a real value-add for their client and was very helpful to our underwriting group from start to finish.”

O’Sullivan Films and its new owners will build on a legacy of customer service, quality and strong brand recognition that dates to 1896. The Geon Company, a predecessor of PolyOne, acquired O’Sullivan Plastics in 1999. Geon, and then PolyOne, marketed the highly regarded O’Sullivan® brand as part of their engineered films product line. The new owners decided to use O’Sullivan as the new entity’s name.

O’Sullivan Films is a leading provider of customized, high-performance polymer films for use in diverse applications, including automotive instrument and door panels, flooring, wall coverings, notebook covers, and pool liners. The company’s expertise extends to film-finishing technologies such as embossing, laminating and painting.

Completion of the transaction follows PolyOne's September 27, 2005, announcement that it had signed a letter of intent to sell the Engineered Films unit. PolyOne’s Engineered Films unit, a leading provider of customized, highperformance plastic films, had 2005 revenues of $120 million.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Capital Markets Group Announces the Successful Sale of Board Dudes, Inc.

RICHMOND, VA – January 24, 2006 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of Board Dudes, Inc. to Rose Art Industries, Inc., a wholly owned subsidiary of Mega Bloks, Inc. (TSX: MB). Ben Hoch, Chief Executive Officer, and Mike Cerillo, President, the original founders of Board Dudes and the creative force behind the enormous success of the company, will continue to manage the business on a day-to-day basis and are assuming senior management roles within the stationery and activities division of Mega Bloks.

Matrix served as the exclusive financial advisor to the shareholders of Board Dudes. According to Bill Weirich, Managing Director and Principal of Matrix Capital Markets Group, “The sale of Board Dudes is a great example of current conditions in the M&A market for high-growth branded consumer product companies. We received a great deal of interest, both from strategic buyers and the private equity community, which ultimately led to a successful transaction with Mega Bloks.” Bryan Johnson, Vice President of Matrix Capital Markets Group, added, “Ben and Mike have worked diligently over the past several years to build what proved to be a very attractive acquisition candidate. The rapid growth and success of Board Dudes is a testame nt to their management and leadership skills and their ability to design creative new products for the school, home and office products industry.”

Mike Cerillo, President of Board Dudes said, “Bill and Bryan from Matrix provided outstanding guidance to us during this transaction. They were professional, informative and personable, making the process extremely easy and comfortable for Ben and me. Their industry knowledge and financial expertise helped us maximize our marketability.” Ben Hoch, CEO of Board Dudes, added, “Matrix was wonderful throughout the entire process. I was very pleased with their expertise and ability to adapt to our specialized needs in this transaction. I can honestly say, Bill and Bryan (The Sales Dudes) made the sale of our company fun!”

Board Dudes, based in Corona, California, designs and distributes an innovative range of branded products for the school, home and office supply markets. Their primary product categories include dry erase boards, cork boards, foam boards, school and locker products, educational products for children, novelty items and storage products sold under the Board Dudes®, Locker Dudes® and related brands. These goods are sold in mass retail and specialty channels throughout the U.S. and Canada.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Capital Markets Group Announces the Successful Sale of Ann Arbor Machine Company

RICHMOND, VA – January 17, 2006 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of Ann Arbor Machine Company to a private investment company organized and controlled by the Borman family, based in the Detroit, Michigan area. The family has several investments in other related businesses and is well known for having founded several successful supermarket chains, most notably Farmer Jack. Ann Arbor Machine Company, a leader in its industry, develops specialized manufacturing solutions used to produce medium to high-volume machined parts, including auto parts such as intake manifolds, brake calipers and steering knuckles.

Matrix served as the exclusive financial advisor to the selling shareholders of Ann Arbor Machine Company. According to Robert Mason, Vice President of Matrix, “Ann Arbor Machine Company represented a very attractive acquisition opportunity in the machine tool industry, having posted impressive performance over the last several years, during a period when the industry as a whole has struggled. The company’s performance is a testament to the skills and talents of the management team, the company’s strong customer relationships and the highly effective and cost efficient manufacturing solutions that the company supplies. Moreover, current market conditions for both exits and capital raising transactions remain strong.”

Robert Betzig, Chairman and Founder of Ann Arbor Machine Company said, “The professionals at Matrix guided us through an extensive process to identify, approach and negotiate the sale of our company. They were with us throughout the entire process, and in the final analysis, provided us with the confidence that we had achieved the best possible transaction from the marketplace.” Jim Woods, President and CEO of Ann Arbor Machine Company, added, “The Borman family represented an attractive suitor for the business. Ann Arbor Machine Company will continue to operate as an independent business, and we look forward to continuing to provide our customers with the same reliable and efficient solutions that have become the hallmark of Ann Arbor Machine Company.”

Ann Arbor Machine Company is a world-wide leader in the design, engineering, assembly, installation and testing of innovative manufacturing solutions, including custom machine tools that are engineered to produce specific metal parts or components. The company also designs and manufactures world-class electrical discharge machines, and designs and manufactures specialty gears and related products.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Carroll Independent Fuel Company Acquires BP Assets in the Baltimore and Washington DC Metro Markets

RICHMOND, VA – January 11, 2006 – Matrix Capital Markets Group, Inc. announced today the successful closing of Carroll Independent Fuel Company’s acquisition of 70 BP retail and wholesale fuel assets in the Baltimore and Washington, DC metropolitan markets. Matrix provided acquisition and capital raising advisory services to consummate the transaction. Tom Kelso, Managing Director and Head of the Energy and Multi-Site Retail Group at Matrix, and Spencer Cavalier, Vice President, managed this transaction.

Founded in 1907 and headquartered in Baltimore, Carroll is a highly diversified distributor of premium fuel products to residential and commercial customers in the greater Baltimore and Washington, DC region. With the addition of the BP fuel assets, Carroll’s sales will exceed 300 million gallons annually of heating and motor fuels, and Carroll Branded Fuels, a division of Carroll, becomes the leading distributor of branded and unbranded motor fuels in the greater Baltimore region. John Phelps, Executive Vice President of Carroll commented, “We are really excited about representing the BP brand and welcome the Baltimore Area BP dealers into our retail family.”

With this transaction, Carroll will supply 70 BP-branded retail sites – Carroll acquired 9 company owned, dealer operated sites and will supply 61 sites that are dealer owned and operated. Under the terms of the agreement, all sites will remain branded BP.

Matrix’s Energy and Multi-Site Retail Group is recognized as the national leader in providing transactional advisory services to companies in the energy and multisite retail sectors. Team members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, private debt and equity raises, corporate restructurings, and corporate valuation and long term planning engagements.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Capital Markets Group Announces the Successful Sale of Aces Ltd. and Northeast Consolidators, Inc.

RICHMOND, VA - December 15, 2005 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of Aces Ltd. and Northeast Consolidators, Inc., to Kuehne-Nagel, Inc. Kuehne-Nagel is one of the largest and most diversified logistics providers in the world, serving customers across five continents. Kuehne-Nagel is headquartered in Schindellegi, Switzerland and maintains its US headquarters in Jersey City, NJ. On a combined basis, Aces and Northeast represented one of New England’s largest logistics providers coordinating the shipment of thousands of containers both domestically and internatio nally. The company maintains offices in Mobile, AL, Seattle, WA, and Boston, MA.

According to Cindra Zambo, CEO of Aces, “This transaction met both our personal and corporate objectives by providing a liquidity event for shareholders and additionally, more sophisticated resources to our customer base. Our clients will now benefit directly from the enormous investments Kuehne-Nagel has made in its personnel, training, and systems. A broader array of services and more geographical depth can only make us a stronger unit under the Kuehne-Nagel umbrella. We are very excited about the growth opportunities that are imminently achievable with the support of their organization.”

Michael Morrison, Managing Director and Principal of Matrix Capital Markets Group, added, “Strong market conditions for M&A activity provided the shareholders an excellent opportunity to monetize the value they have created since inception, while simultaneously enabling them to identify a strategic partner whose vision and philosophy on customer service are similarly aligned. Middle- market companies are determining that now is a good time to test the market for both exits and capital raising needs.”

Aces Ltd. was founded in 1984 as an international lumber and log logistics provider. With revenue of over $15 Million dollars annually, Aces handles shipments from 29 North American ports to over 175 destinations worldwide. Aces focuses on the specialized handling and documentation of forestry products – key criteria required to be a responsible and successful player in this high volume niche market.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Capital Markets Group Announces the Successful Sale of Sentry Food Mart Stores

RICHMOND, VA – December 9, 2005 – Matrix Capital Markets Group, Inc. announced today the successful closing on substantially all of the assets of Angus I. Hines, Inc. t/a Sentry Food Mart, located in the Tidewater and Western regions of the state of Virginia.

The overall transaction involved multiple closings on 45 locations. The Pantry, Inc. (NASD:PTRY) closed on the purchase of twenty-three (23) stores in August 2005, B&L Investments closed on the purchase of five (5) stores in September 2005, and various purchasers closed on seventeen (17) stores over the past three months.

Matrix served as the exclusive financial advisor to the seller, Angus I. Hines, Inc. and Tom Kelso, Managing Director and head of the Energy and Multi-Site Retail Group at Matrix, managed the transaction. “It was a great pleasure doing business with Mr. Hines and his team, and we feel extremely proud to have worked with them on this opportunity. We were able to maximize the value of their assets and conclude a highly successful transaction,” said Kelso.

Angus Hines, President of Angus I. Hines, Inc. remarked, “We retained Matrix to sell our convenience stores based on recommendations from other firms who had used their services as well as Matrix’s excellent reputation in our industry. We were extremely pleased with the results. The high level of buyer participation and the number of offers we received were far above our projections. The Matrix team was very professional and easy to work with, thus making a rather stressful event run as smooth as possible.”

Sentry Food Mart stores sell convenience merchandise and branded motor fuels, primarily Shell and Citgo. In 2004, the stores collectively sold approximately 80 million gallons of fuel. Merchandise sales averaged over $600,000 per store.

Matrix Capital Markets Group, Inc. Closes Recapitalization of Flowers Today, Inc.

RICHMOND, VA - November 28, 2005 - Matrix Capital Markets Group, Inc. announced today that it has successfully completed the recapitalization of Flowers Today, Inc., one of the largest marketers and sellers of flowers in the nation operating under the trade names Blooms USA, Flowers Sent Today and American Blooms. Woodside Funding Partners provided mezzanine capital and Mercantile-Safe Deposit and Trust Company provided senior debt financing to support the recapitalization.

The transaction took place in order to refinance certain liabilities, as well as provide growth capital for the company. George Dukas, Co-founder and CEO, remarked, “As shareholders of a rapidly growing private company, we determined that the market conditions were well suited for us to obtain additional capital to support both the Company’s organic growth as well as an external acquisition campaign.” Don Mayer, Co-founder and President, added, “The consummation of this deal will allow us to achieve our strategic corporate objectives for the next several years.”

According to Michael Morrison, Managing Director and Principal of Matrix Capital Markets Group, “The Flowers Today transaction is a very good representation of what is happening in the middle market today – strong performing, privately owned businesses are finding much success in accessing the senior debt and mezzanine capital communities in order to secure capital that will support future growth initiatives. Bill Kerkam, Vice President of Matrix Capital Markets Group, added, “Mercantile and Woodside worked well together to collaborate on a financing package that will allow Flowers Today to accelerate its acquisition strategy.”

Flowers Today, Inc. headquartered in Haymarket, VA, is the nation’s largest advertiser for flowers in the yellow pages under the floral heading, with advertisements appearing in over 375 million yellow page directories nationwide as well as on the Internet. The Company has achieved tremendous growth organically, as well as through acquisitions since its founding in 2000.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Capital Markets Group, Inc. Completes Sale of Kadant Composite Building Products Business to Liberty Diversified Industries

RICHMOND, Va.--(BUSINESS WIRE)—Nov. 2, 2005— Matrix Capital Markets Group, Inc. recently announced the successful closing of the sale of Kadant Composites LLC, a leading manufacturer of composite decking and roofing products, to Minneapolis -based LDI Composites. Kadant Composites is a subsidiary of Kadant Inc. (NYSE: KAI). LDI Composites is a subsidiary of Liberty Diversified Industries (LDI).

Kadant Composites maintains operations in Green Bay, Wisconsin, and Bedford, Massachusetts, and markets and distributes its products nationally through building products dealers. The sale includes substantially all of the operating assets of the Kadant Composites business, including its GeoDeck brand of composite decking, railing, and roofing products, as well as its manufacturing, research and development, distribution and sales and marketing operations. The transaction was structured as an asset sale.

According to Robert Mason, Vice President of Matrix, “Kadant Composites represented an attractive acquisition opportunity into one of the fastest growing segments in the building products industry – composite decking. The acquisition by LDI allows them to greatly accelerate their entrance into this segment, adding a highly accomplished management team as well as a top branded product line to their portfolio. GeoDeck (www.geodeck.com) has become a top consumer brand and one of the leading brands in the professional installer market.”

Jon Painter, Executive Vice President for Kadant and President of Kadant Composites, added, “the professionals at Matrix guided us through an extensive process to identify, approach and negotiate a sale of the composites business. They were with us throughout the entire process, and in the final analysis, provided us with the confidence that we had received the best deal possible from a buyer that represented an ideal suitor for the business.”

Kadant is a leading supplier to the global pulp and paper industry, with a range of products and services for improving efficiency and quality in pulp and paper production, including paper machine accessories, and systems for stock preparation, fluid handling, and water management. For more information visit www.kadant.com.

Liberty Diversified Industries is a privately held company serving the corrugated packaging, material handling, office supply, and furniture and building products industries. For more information visit www.libertydiversified.com.

Matrix Capital Markets Group is a leading middle market investment bank headquartered in Richmond, Virginia. Since its founding in 1988, Matrix has served middle market and privately held companies, specializing in merger & acquisition and financial advisory services including exclusive sales and divestitures, management buyouts, and debt & equity placements. For more information visit www.matrixcapitalmarkets.com.

45 Sentry Food Mart Stores Sold

RICHMOND, VA - July 7, 2005 Matrix Capital Markets Group, Inc. announced today the successful sale of 45 Sentry Food Mart Stores located in the Tidewater and Western regions of Virginia. All of the stores were sold through a sale process managed by Matrix. Twenty-three (23) stores were sold to The Pantry, Inc. (NASD:PTRY), five (5) stores were sold to B&L Investments, and the remaining seventeen (17) stores were sold to twelve (12) other acquirers. Matrix served as the exclusive financial advisor to the seller, Angus I. Hines, Inc. Tom Kelso, Managing Director and Head of the Energy and Multi-Site Retail Group at Matrix, managed the transaction.

Angus Hines, President of Angus I. Hines, Inc. said, “We retained Matrix to sell our convenience stores based on recommendations from other firms who had used their services as well as Matrix’s excellent reputation in our industry. We were extremely pleased with the results. The high level of buyer participation and the number of offers we received were far above our projections. The Matrix team was very professional and easy to work with, thus making a rather stressful event run as smooth as possible.” A complete list of the buyers is available at www.matrixcapitalonline.com under the VA & NC Stores, Sale of Sentry Food Marts section. Matrix's Energy & Multi-Site Retail Team is recognized as a national leader in providing transactional advisory services to companies in the energy and multi- site retail industries. Team members are dedicated to these industries and draw upon complementary experiences to complete sophisticated mergers, acquisitions, and corporate finance transactions.

RPF Oil Company Completes Acquisition of BP Assets in the Greater Detroit, Michigan Market

RICHMOND, VA – May 23, 2005 – Matrix Capital Markets Group, Inc. announced today the successful closing of RPF Oil Company’s (“RPF” or the “Company”) acquisition of 44 BP retail and wholesale fuel assets in the Greater Detroit market. Matrix provided acquisition and capital raising advisory services to consummate the transaction. Tom Kelso, Managing Director and Head of the Energy and Multi-Site Retail Group at Matrix, and Spencer Cavalier, Vice President, managed this transaction.

Based in Grand Blanc, Michigan, RPF has been distributing and marketing motor fuels in the Greater Detroit market since 1933 and RPF has been a distributor for BP and BP Amoco since 1985. This is RPF’s first major transaction in support of the Company’s strategic plan to grow its distribution business. RPF’s successful acquisition makes the Company one of the largest BP branded jobbers in Michigan, with nearly 100 million gallons of motor fuels supplied annually. Dan Fleckenstein, Vice President and Head of Acquisitions for RPF, commented; “We greatly appreciate the excellent advice and transaction execution provided by Matrix. We could not have been successful in our efforts to acquire the BP Assets without the help of the Matrix team of professionals."

The 44 retail and wholesale fuel assets acquired are comprised of 4 company owned, company operated sites (COCOs), 6 company owned, commissioned marketer sites (COCMs), 9 company owned, dealer operated sites (CODOs), and 25 dealer owned, dealer operated (DODOs) sites. At the closing, RPF assigned the purchase of the 4 COCO sites to one of its leading dealers, Auto City Services, Inc. (“ACS”), and entered into a long term supply agreement for those and other additional ACS stores.