Palm Beach Capital Announces Acquisition of DDP Holdings

Business Wire, July 2, 2007

PALM BEACH, Fla. -- Palm Beach Capital, through one of its investment entities, today announced that it has acquired DDP Holdings, Inc. Terms of the transaction were not disclosed. This transaction is the seventh equity investment by Palm Beach Capital from Palm Beach Capital Fund II and its twenty-fourth overall since inception.

DDP Holdings, currently based in Springdale, Arkansas, is the parent company of Ideal Merchandising and Mi-De Construction. Through these two divisions, DDP provides retail merchandising, new store set-up and product re-set services for big box national retailers. The company operates from facilities in Springdale and Mooresville, North Carolina. Palm Beach Capital intends to relocate the Springdale facility to the greater Tampa, Florida area by the end of 2007.

C. Michael Sunderland, a successful industry veteran, partnered with Palm Beach Capital on the acquisition and has assumed the President and Chief Executive Officer role of DDP Holdings. Mr. Sunderland formerly has served as CEO of Insight Pharmaceuticals as well as President and COO of Advantage Sales & Marketing. In addition to Sunderland, both Ron Harris and Tim Sexton, current executive management of the Ideal Merchandising and Mi-De Construction divisions, partnered on the transaction.

"We believe that DDP presents a wonderful opportunity and platform for growth," stated Scott Long of Palm Beach Capital. "Our partners possess the industry experience and operating knowledge that, coupled with the resources of Palm Beach Capital, will enable the company to expand its business while continuing to provide unparalleled customer service."

Michael Sunderland added, "I have previously led successful organizations in this industry. When I was introduced to DDP, I immediately knew that the company and its over 1,100 employees were unique in the breadth and quality of service that they provide to DDP's customers. Tim, Ron and I will continue that high level of service and will work with our customers in exploring ways to drive their growth and profits as we build long-term partnerships with them."

The transaction was facilitated by Fifth Third Bank and closed by Palm Beach Capital's office in Tampa.

About Palm Beach Capital

Founded in 2001, Palm Beach Capital is a private equity investment firm which specializes in making investments in and building early and middle-stage private companies. With offices in both Palm Beach and Tampa, Florida, the firm focuses on high growth investment opportunities with enterprise values ranging from $10 million to $100 million. Since its inception, Palm Beach Capital has made investments in 24 companies and has approximately $200 million in total assets under management. For more information, please visit the firm's website at www.pbcap.com.