SOURCE: Dresner Partners

Dresner Partners

May 23, 2012 12:34 ET

Dresner Partners Advised New Carbon Company, Inc. and Its Affiliates on Its Sale to PNC Riverarch Capital

CHICAGO, IL--(Marketwire - May 23, 2012) - Dresner Partners, a leading FINRA-registered, middle-market investment bank and IMAP member firm, recently served as co-advisor to New Carbon Company, Inc. and its affiliates (New Carbon), the leading supplier of branded waffle mix and irons, on its sale to PNC Riverarch Capital. The transaction closed April 17, 2012; terms were not disclosed.

For over 75 years, New Carbon's "Golden Malted" brand of waffle flour has been the mix of choice for the food service industry. As part of its turnkey customer solution, South Bend, Indiana headquartered New Carbon offers its customer high-end, heavy-duty commercial waffle irons that ensure a consistent waffle product. The company leverages its leading extensive network of distributors to supply its waffle mix and supporting waffle iron equipment to over 40,000 customer locations.

As part of the transaction, PNC Riverarch Capital acquired New Carbon Company, Inc. along with four of its largest independent distributors: Waffles of California, Central Maryland Associates, RGE Distributing, and Tri-State Malted Waffles.

"We enjoyed working with New Carbon on this unique opportunity and are pleased that New Carbon met its combined transaction objectives. We look forward to seeing the company continue to grow," stated Steven Dresner, President of Dresner Partners.

About Dresner Partners
Dresner Partners is a FINRA-registered, middle-market investment bank headquartered in Chicago, Illinois with offices in New York, Connecticut and Los Angeles. Founded in 1991, Dresner Partners provides financial advisory services to business owners and managers throughout the world, including institutional private placements of debt and equity, merger and acquisitions, valuations and strategic consulting services. We work with a wide range of industries including, consumer, food, healthcare and industrials. Dresner Partners is also a member of IMAP, an exclusive global organization of leading merger and acquisition advisory firms. Dresner Valuation Services provides middle market companies with sophisticated valuation services including, ESOPs, fairness opinions, estate and tax planning, goodwill impairment testing and purchase price allocations. An affiliated company, Dresner Corporate Services, is a strategic communications firm specializing in public and investor relations. More information is available at www.dresnerpartners.com or www.imap.com/locations/office.cfm?OfficeID=416 .

About New Carbon
Founded in 1937, New Carbon provides its Golden Malted brand waffle mix, along with waffle irons and related maintenance, to more than 40,000 customer locations throughout North America. The company's customer base includes prominent national restaurant chains and lodging operators, as well as independent restaurants and hotels.

About PNC Riverarch Capital
PNC Riverarch Capital is a middle-market private equity group that invests in privately-held companies headquartered throughout North America. It seeks to invest $10 million to $50 million per transaction in support of recapitalizations, leveraged and management buyouts, corporate divestitures, and growth financings. PNC Riverarch invests in well-positioned companies across a variety of industry sectors, including outsourced services, specialized manufacturing, and value-added distribution. Since 1982, PNC Riverarch Capital and its predecessors have provided over $1.0 billion in capital to more than 100 companies.

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