Hyde Park Capital Announces Sale of E.A. Mariani Asphalt Company to Associated Asphalt
Tampa, Florida - June 19, 2007 - Hyde Park Capital Advisors, LLC is pleased to announce the sale of E.A. Mariani Asphalt Company (Mariani Asphalt) to Associated Asphalt, an affiliate of Arclight Capital Partners, LLC. Hyde Park Capital Advisors, LLC, the investment banking subsidiary of Hyde Park Capital Partners, LLC, served as the exclusive investment bank for Mariani Asphalt in this transaction.
Mariani Asphalt, headquartered in Tampa, Florida, is a leading supplier of quality paving grade asphalts and emulsions throughout the state of Florida. The company manufactures the broadest product line in Florida and has been a proven source of quality asphalts, polymer modified asphalt, asphalt emulsions, cutback asphalt, and rejuvenators for over 60 years. The company also distributes liquid asphalt through its deep-water terminal located in the port of Tampa.
George Mariani, Jr., President of Mariani Asphalt, stated, "As a family owned company with 60 years of superior service to the industry, the decision to sell was a very difficult, emotional hurdle for third generation Mariani stockholders. The decision to sell to Associated Asphalt, with a similar entrepreneurial culture and similar dedication to quality, was logically the right decision at this time." He continued, "As expected, the staff at Hyde Park Capital worked very hard to produce the product, but their greatest contribution was their helpfulness and sensitivity to these issues which played a key role in bridging this gap."
"Associated Asphalt has been a supplier of quality asphalts to the Mid Atlantic United States for almost 60 years and we are very happy to be joining with the Mariani Asphalt team here in Tampa to continue their long history of providing quality asphalts and emulsions to the state of Florida," commented Bill Kirk, President and CEO of Associated Asphalt.
"Mariani Asphalt is an excellent strategic and cultural fit for Associated Asphalt and we are pleased to have represented Mariani Asphalt in this very important transaction for its shareholders," said Keith Hodgdon, Senior Vice President of Hyde Park Capital Partners, LLC.
For more information on Mariani Asphalt, visit their website at www.marianiasphalt.com.
About Associated Asphalt
Associated Asphalt, founded in 1948, is one of the leading asphalt resellers in the Mid Atlantic United States, with terminals in Virginia, West Virginia, North Carolina, and South Carolina. The company distributes asphalts, PMA, asphalt emulsion, and cutback asphalt. More information about Associated Asphalt can be found at www.associatedasphalt.com.
About Arclight Capital
Arclight Capital Partners, LLC is one of the world's leading energy infrastructure investing firms, with more than $4.6 billion under management. Arclight invests throughout the energy industry value chain in hard assets that produce high current income and capital appreciation. Founded in 2001, Arclight has its headquarters in Boston and an office in New York City. Arclight has 27 investment professionals and is led by Managing Partner Daniel R. Revers and Senior Partner Robb E. Turner. With a combination of more than 200 years of energy investing, Arclight's principals have deep energy investing experience, industry relationships, and asset level knowledge. More information about Arclight can be found at www.arclightcapital.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused investment banking firm serving the corporate finance needs of companies in Florida and the Southeastern United States. Our principals have extensive investment banking experience executing merger & acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital for companies, including equity, mezzanine and senior debt. With experience in the technology, healthcare, financial services, business services, consumer, and industrial sectors, we broadly represent outstanding growth companies in any industry. As one of the most active investment banking firms in Florida and the Southeast, our professionals have advised on more than 300 investment banking transactions totaling more than $10 billion in transaction value. Hyde Park Capital is headquartered in Tampa, Florida and is a member of the NASD and SIPC. For additional information about Hyde Park Capital, visit www.hydeparkcapital.com or call (813) 383-0202.