Goldsmith Agio Helms Completes the Sale of Prestige, Inc., to RSI Holding Corporation

Business Wire, Oct 19, 2004

MINNEAPOLIS -- Goldsmith Agio Helms announced today the completed sale of its client, Prestige, Inc. ("Prestige" or the "Company"), to RSI Holding Corporation ("RSI"). Terms were not disclosed. Prestige was privately owned by its founders and members of its management team.

"This transaction is a win-win for all sides. Prestige gains new access to technology, capital and economies of scale - and RSI gets a new product line and customer base," stated Terry Lynner, a Managing Director and Partner of Goldsmith Agio Helms. Mr. Lynner added, "This sale is the 51st building products transaction completed by Goldsmith Agio Helms, and we will continue to build our presence in this consolidating industry."

"RSI has a significant presence in the big box retail channel with a great line of vanities and related products. They have an excellent management team and lead the industry in applying technology to maximize manufacturing productivity. Prestige has a flexible, fashionable, high-quality product line sold through a tremendous dealer customer base. In addition, Prestige's management team is very experienced and hungry for growth," commented David Iverson, a Director of Goldsmith Agio Helms. "The combination allows Prestige access to multiple growth avenues with a partner experienced in growth; and it gives RSI instant access to a new customer channel and product line," added Mr. Iverson.

"We hired Goldsmith Agio Helms for, among other reasons, their ability to find us the best partner - and that's what they did. We are very excited about joining the RSI team and taking Prestige to the next level," stated Don West, JR, President of Prestige. Ronald M. Simon, Founding Chairman and CEO of RSI, commented that, "RSI is a Company that is driven to think outside the box, and to embrace and welcome change to achieve greater operational efficiencies. When we consider potential acquisitions, we look for companies that embrace that philosophy, while having a track record of proven success and potential for significant additional growth. Prestige certainly fits that mold," continued Simon. "By combining RSI's financial resources and manufacturing technologies with Prestige's great knowledge of the kitchen cabinet industry, and its' excellent management team, employee base and dealer network, we expect the combined companies to become an even more powerful force in the cabinet industry."

Upon completion of the transaction Prestige's management will stay in place, with Don West, Jr. continuing as President. The Company will be operated as an independent entity under RSI Holding Corp.

Prestige, Inc. is a Kansas-based fully-integrated designer, manufacturer and marketer of all-wood kitchen, bath and whole-house cabinetry. Prestige sells its products to customers throughout the United States, including dealers, builders and home centers. Prestige employs approximately 370 people across all Company functions. The company's web site is www.prestigecabinets.com.

RSI Holding Corporation is a manufacturer of kitchen cabinets, bathroom vanities, cultured marble countertops, storage cabinets and medicine cabinets. Founded in 1989, RSI has 3,500 employees and expects revenues to exceed $500 million this fiscal year. RSI has in excess of 2 million square feet of manufacturing capacity in California, Missouri, North Carolina and Mexico. The Company's web site is www.rsiholdingcorp.com.

Goldsmith Agio Helms (www.agio.com) is one of the nation's leading private investment banking firms providing financial advisory services to middle-market businesses. The firm's services include mergers and acquisitions, distressed advisory and restructuring, valuations and fairness opinions, and private placements of debt and equity. The firm operates internationally from our offices in Minneapolis, New York, Chicago, Los Angeles, and London.

If you would like more information about this transaction, please contact Terry Lynner (tlynner@agio.com) or David Iverson (diverson@agio.com) at 612-339-0500.