Columbia West Capital News
10.06.08 CWC Closes Management Buyout of NYPD

Columbia West Capital, LLC is pleased to announce the sale of Ziegler's New York Pizza Department ("Ziegler's NYPD") to a local management group led by Richard Stark, the Company's current CEO, and other senior members of the management team. The majority of the entity was purchased from the founding partners, Scott and Greg Ziegler for an undisclosed amount. The Ziegler brothers will maintain a minority position in Ziegler's NYPD and will be involved in supporting and advising the company as it grows to the next level. (See Business Journal Article)

Columbia West Capital was the exclusive financial advisor to Ziegler's NYPD and sourced the capital to fund the transaction from Main Street Capital (NASDAQ: "MAIN"), based in Houston Texas. "Main Street Capital was the ideal financial partner for management in this market, as they were able to provide a complete capital structure solution - which in today's troubled credit markets is critical to getting transactions completed", said Kaley Parkinson, Managing Director of Columbia West Capital. Main Street Capital provided debt financing and also provided equity capital in the form of a minority equity stake in the company.

The Ziegler's opened the first store more than 10 years ago, and Ziegler's NYPD has since grown to 10 units throughout the Phoenix valley and is considered one of the region's premier pizza and Italian restaurant concepts. The management group plans to focus on growing the company, initially through the recently implemented delivery service at all their locations followed by the prudent addition of new restaurants throughout the rest of the Phoenix market and potentially beyond. "We are excited about this transaction, and believe that with our new financial partner we will have the additional capital resources necessary to further grow our business, a positive for both our customers and valued employees", said Richard Stark. "Columbia West Capital did an outstanding job of helping us get this deal done in a very tough market."