INVESTOR LOGIN

ALVAREZ & MARSAL CAPITAL ACQUIRES ATLANTIC CITY LINEN SUPPLY IN PARTNERSHIP WITH GOLDBERG FAMILY

GREENWICH, CT - Alvarez & Marsal Capital (“A&M Capital”), a middle-market private equity firm that has a strategic association with Alvarez & Marsal (“A&M”), announced today that it has acquired a controlling majority interest in Atlantic City Linen Supply, LLC (“AC Linen” or the “Company”), a leading provider of commercial laundry services to the hospitality sector. Founder David Goldberg has rolled a meaningful stake into the newly-capitalized company and will serve as Chairman Emeritus, providing consulting services to the Company in the areas of business development and customer / union relationships. Daniel and Eric Goldberg have rolled their entire equity stake into the new company and will continue their roles as Co-Chief Executive Officers, with representation on the Company’s Board of Directors.

Based in Atlantic City, NJ, the Company provides a full suite of hospitality laundry services to casinos, hotels, spas and restaurants across the Eastern Seaboard. AC Linen employees over 800 people and operates four commercial laundry facilities in New Jersey and Connecticut, serving leading hospitality clients which range from 200-room hotels to 2,000-room luxury resorts. The Company enjoys a leading competitive position in each of its core markets.

"It was a great experience dealing with the A&M Capital team," said Mr. Goldberg. "They were fair, honorable, smart and easy to work with. Having had no experience with private equity, I relied on them to walk me through the peaks and valleys of the biggest deal of my life. My only regret is that I didn't leave more money in the deal -- they are taking the company to places I never dreamed of."

Co-CEO Daniel Goldberg agreed, stating, "A&M Capital brings a new dimension of professionalism and growth opportunity to our company. There are several expansion avenues for us to exploit and we are thrilled to have such an experienced and additive partner to help us achieve our objectives."

"We see a very bright and exciting future for AC Linen," said Mike Odrich, a Founding Partner of A&M Capital. "The company enjoys a leading position in its core markets that has been built over several decades and is fortified by long-term contracts. However, growth had been constrained by a lack of capital and proper infrastructure, a dynamic which is not uncommon for family-owned businesses. Consistent with our investment model, our colleagues at Alvarez & Marsal will work alongside this talented management team and the A&M Capital team to build the infrastructure necessary to capitalize on the opportunities that exist in other markets. Ultimately, we believe that we can create the only hospitality-focused commercial laundry with a national presence."

A&M Capital was advised by Simpson Thacher & Barlett LLP. AC Linen was advised by Katten Muchin Rosenman LLP and Cooper Levenson, P.A.

About AC Linen
Founded in 1986, AC Linen provides one-stop laundry services for the full suite of hospitality needs including housekeeping, spa and restaurant linens, uniforms and valet processing. The Company operates 24 hours per day, 7 days per week and 365 days per year, processing approximately half-a-million pounds of laundry per day for leading hospitality clients across six states, including New Jersey, Pennsylvania, Delaware, Connecticut, Rhode Island and Massachusetts. AC Linen tailors work to the specific textiles being used, including load compositions, dryer extraction, conditioning procedures, and washroom chemistry and operations, which allows the Company to consistently provide clients the lowest cost for linen replacement in the industry. Outside of the standard scope of work, the Company also offers services including evaluation and pre-test textile selection, chute management procedures, on-property sorting, management and customization of delivery schedules, and tailored pack-out options. AC Linen utilizes a customized web-based linen management and distribution system that follows the movement of all goods from pick-up of soiled linen to delivery, while also using an RFID system which monitors customer textiles in the Company’s facilities and at client properties, providing the most up-to-date method of inventory control. The Company’s flagship plant in Atlantic City is a 63,000-square foot facility which produces upwards of 200,000 pounds of laundry per day using state-of-the-art equipment.

About A&M Capital
A&M Capital is a middle-market private equity firm with $600 million under management which invests in established and profitable companies that can benefit from the firm’s access to significant operating resources. The firm has a strategic association with Alvarez & Marsal (“A&M”), which gives it the distinctive capability to bring the exact management or operational talent to the companies with which they partner, whether interim, part-time or permanent resources are required. As such, their experience with various kinds of businesses and ownership profiles allows them to meet sellers’ objectives with mutually beneficial transactions that specifically address the goals of existing shareholders. The principals of A&M Capital have a combined 70 years of experience executing private equity transactions in the middle-market with this profile.

About A&M
Alvarez & Marsal was founded in 1983 and is a privately-owned global professional services firm that helps businesses improve performance, solve problems, and unlock value for stakeholders. With more than 2,400 full-time professionals in 40 + offices across North America, Europe, the Middle East, Asia and Latin America, A&M is the largest firm of its kind and has expertise across all major industry sectors and functional areas.

For more information, visit www.a-mcapital.com