ICG Capital Partners, LLC Charlotte, NC Financial Advisors for Middle Market Firms Placement of Private Debt Equity and Equity Securities Mergers and Acquisitions Capital Restructurings Investment Bankers

Market Trends

as of 12/13/05

CURRENT TRANSACTION MULTIPLES

In Millions

EBIT

EBITDA

less than $25

7.9x

5.0x

$25 to $100

12.3x

9.8x

$100 to $250

12.5x

8.8x

Source: Thomson Financial
Data: Includes multiples between 3x and 25x, excludes all real estate and telecommunication transactions

Finance Markets

YTD as of 11/14/05

Senior Debt/EBITDA

3.3x

Total Debt/EBITDA

4.5x

Buyout Funds Raised

$118.9B

Buyout Transactions

$149.6B

Sources: S&P M&A Stats;Buyouts

ICG Represents Preferred Packaging, Inc. in its sale to Hamilton Paper Box, a portfolio company of Florida Capital Partners

ICG Capital Partners is pleased to announce the sale of Preferred Packaging Inc. ("Preferred" or the "Company") to an affiliate of Florida Capital Partners ("FCP"). ICG Capital Partners served as the exclusive advisor to Preferred, a High Point, NC based manufacturer of point of purchase display packaging.

ICG Represents Ajax Rolled Ring and Machine in its sale to Dogwood Equity

ICG Capital Partners is pleased to announce the sale of Ajax Rolled Ring and Machine, Inc. ("Ajax" or the "Company") to an Dogwood Equity. ICG Capital Partners served as the exclusive advisor to Ajax, a York, SC provider of seamless rolled rings.

ICG Represents Telecomm USA in its sale to Euronet Worldwide (NYSE:EEFT)

ICG Capital Partners is pleased to announce the sale of Telecomm USA, Inc. ("Telecomm" or the "Company") to Euronet Worldwide ("Euronet"). ICG Capital Partners served as the exclusive advisor to Telecomm USA, a provider of Innovative Money Transfer and Bill Payment Services.

ICG Capital Partners, LLC

200 South Tryon Street
Suite 700
Charlotte, NC 28202
Scott Upton: 704.332.1930
704.332.2092 (fax)
www.icgcap.com

Uniquely positioned to serve the needs of middle market companies...

At ICG Capital Partners, Charlotte, NC, our primary activities include representing buyers and sellers of companies in the middle market (transactions ranging in value from $5 million to $50 million). We also assist in placing private debt and equity securities for middle market companies that are involved in growth capital financing, leveraged buyouts, leveraged re-capitalization and corporate restructuring. These services are offered through Allen C. Ewing & Co., a registered broker dealer with the NASD.

The foundation of ICG’s advisory business is providing sound, objective advice to our clients.

We are a full-service financial advisory firm that can provide a broad range of solutions to fit our clients’ merger and acquisition or corporate finance needs.
Maintaining a balance between private financing capabilities and strategic advisory services enables ICG to offer a full range of strategic and financial alternatives, analytical tools and objective counsel based on years of training and experience to help clients choose between various alternatives.

Our Charlotte, NC office is located at 200 South Tryon Street, Suite 700, Charlotte, NC 28202

Merger and acquisition transactions and advisory services represent a significant part of ICG's financial advisory business. In keeping with the importance of this segment our goals are:

To provide the highest quality merger and acquisition (M&A) advisory services to our clients.

To offer a full range of merger and acquisition (M&A) advisory services and Wall Street capabilities to the middle market.

To ensure that senior merger and acquisition (M&A) professionals are involved throughout the transaction process.

Our Charlotte, NC office is located at 200 South Tryon Street, Suite 700, Charlotte, NC 28202

ICG Capital Partners, LLC200 South Tryon Street Suite 700 Charlotte, NC 28202

© 2006 ICG Capital Partners, LLC Charlotte, NC | Privacy Policy | Business Continuity

Securities and capital advisory services offered through Allen C. Ewing & Co., a registered broker-dealer with the NASD/SIPC. www.AllenEwing.com


	Associated Asphalt, Inc. Roanoke, Virginia
	A speciality distributor of liquid asphalt of family ownership was sold to Thayer Capital Investors.