As we navigate through continued uncertainty and dislocation in the capital markets, McColl Partners remains focused on providing the highest level of investment banking services available to middle-market business owners, private equity firms, and financial institutions. Although 2008 was a very challenging year in the investment banking sector, McColl Partners completed a record number of transactions with a total enterprise value of $2.3 billion. In the first quarter of 2009, the firm has already closed four transactions:

• McColl Partners acted as financial advisor to Charlotte, NC-based RT Dooley Construction Company ("RT Dooley") in its sale to Balfour Beatty Construction, a division of U.K.-based Balfour Beatty plc, a global construction, engineering, and investment services business with more than $14 billion in annual revenues. RT Dooley is a family-owned firm with 2008 revenues of $308 million.
• McColl Partners acted as financial advisor to Utah-based Career Step, LLC ("Career Step") in its management recapitalization with DW Healthcare Partners and BB&T Capital Partners, LLC. Career Step is a leading provider of online healthcare education courses focused on medical transcription and coding to over 20,000 students in all 50 states and several foreign countries.
• McColl Partners acted as financial advisor to Florida-based Infrastructure Services Holdings, Inc. in its sale of The Briar Company, LLC ("Briar") to Briar's management team. Orlando-based Briar is a total site development contractor for residential, commercial, and municipal construction projects in central Florida.
• McColl Partners acted as financial advisor to New York-based Royal Pet Supplies, Inc. in its management recapitalization with Quarry Capital Management, LLC. Royal Pet Supplies is a leading distributor of pet products to independent pet stores in the eastern United States.

These transactions from 2008 and 2009 were executed across our focused industry groups: Business Services, Consumer, Financial Services, Financial Technology, Healthcare, and Industrial & Building Products. Our Financial Technology bankers, led by Managing Director Jamie Lewin, closed two transactions in December 2008 alone, demonstrating our ability to navigate tumultuous financing markets for our clients. More information on any of these transactions can be found at our recently redesigned website www.mccollpartners.com.

2008 also marked the firm's first geographic expansion with the opening of new offices in Dallas and Atlanta. Our Dallas office formally opened its doors in June and is led by founding partner Jamie Lewin and Tom Spivey. Mr. Spivey spent 8 years serving Southwestern-based clients at Bear Stearns & Co. Our firm also opened an Atlanta office to strengthen its proprietary business development efforts. The office is led by Brad Heston, who has spent over 16 years at leading professional services firms, most recently PricewaterhouseCoopers and DeWolff, Boberg & Associates.

As part of the firm's continued growth internationally, in February 2009 McColl Partners joined Clairfield Partners ("Clairfield"), a global alliance of leading boutique investment banks. With partner firms around the world, Clairfield provides McColl Partners' clients better cross-border access to global investors and acquirors, as well as investment opportunities. More information about Clairfield Partners can be found at www.clairfield.com.

The firm also announced two promotions in 2009. Brian Davis, a Partner of the firm, was promoted to Managing Director. Mr. Davis is the head of the firm's Financial Sponsors and Business Development Groups. The firm also promoted Justin Cunningham to Vice President. Mr. Cunningham, a Morehead Scholar at the University of North Carolina at Chapel Hill, began his career with McColl Partners as a summer intern in 2002 and has been with the firm since graduating from UNC in 2003.

To speak with someone regarding how McColl Partners can provide guidance to your middle-market business, or concerning unique investment opportunities for your private equity fund, please contact Phil Colaco at 704-333-0525.

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