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PRESS RELEASES  Up-to-date Company information:
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(For Immediate Release)
September 30, 2005
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Industrial Container Services, LLC is Acquired by Wingate Partners
Dallas, TX Wingate Partners is pleased to announce that one of its affiliates, in partnership with management, has acquired Industrial Container Services LLC (ICS). Currently generating approximately $80 million in revenue, ICS is the U.S. leader in providing reconditioned steel drums to customers in food, paint, chemical, energy and other industrial markets.
Calvin Lee, CEO of ICS stated, β?Wingate Partners is an excellent fit with ICS as we strive to be the top choice in terms of service, product quality and value for our customers. The strategic and operational expertise as well as the financial support of Wingate and Jim Mattly, our new Chairman, will strengthen ICS as we execute our growth plans.β?
Jim Mattly, the former CEO of Loomis Fargo and new Chairman of the Board of ICS commented, βWe have much respect for Calvin and his team, and are excited to partner with them on this opportunity to enhance ICSβ position as the premier partner for customers who need reconditioned containers.β?
Brad Brenneman of Wingate Partners added, βICS is positioned to capitalize on the outstanding leadership of Calvin Lee and a terrific team to provide its customers with world class service and reconditioned drum products in an environmentally responsible manner.β?
About Wingate Partners
Founded in 1987, Wingate Partners is a middle market private equity firm with a focus on making control equity investments in βstoryβ? deals, including businesses with leading positions within their markets and opportunities for further growth. Since its inception, Wingate Partners has acquired 57 companies in 15 industries and built businesses with combined revenues in excess of $6 billion.
For additional information contact:
Industrial Container Services, LLC
Mr. Alain Magnan, Vice President and CFO
Phone: 323-724-8507 extn. 505
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