Legacy Capital Announces that Intermarine Receives Equity Investment from New Mountain Capital Legacy Capital announced today that its client, Intermarine, a global leader in "asset light" logistics and project cargo shipping, received a significant equity investment from New Mountain Partners III, L.P., a private equity fund sponsored by New Mountain Capital, L.L.C. New Mountain is partnering with Intermarine's current management team to accelerate the company's growth and to continue operational enhancements. Intermarine was advised by Legacy Capital, a New Orleans-based investment banking firm. New Orleans, LA (PRWEB) May 13, 2008 Legacy Capital (legacycapital.com) announced today that its client, Intermarine (the "Company"), a global leader in "asset light" logistics and project cargo shipping, received a significant equity investment from New Mountain Partners III, L.P., a private equity fund sponsored by New Mountain Capital, L.L.C. ("New Mountain"). New Mountain is partnering with Intermarine's current management team to accelerate the company's growth and to continue operational enhancements. Intermarine was advised by Legacy Capital, a New Orleans-based investment banking firm. Intermarine primarily oversees highly specialized logistics and shipping requirements for multiyear infrastructure construction projects in the Americas, the Middle East, India and Asia. The company, which was founded in 1990 by Roger P. Kavanagh, III, specializes in the logistics of cargoes that are too heavy, large, or expensive to travel in traditional drybulk or container ships. Strong demand for such project cargoes is being driven by the construction of oil and gas, energy, power, and water projects, particularly in emerging economies and oil rich states around the world. Intermarine's strong commitment to service quality and technical expertise, its industry leading information systems, and the frequency of its liner voyages enable the company to provide best-in-class service to its clients. New Mountain is providing Intermarine with financial and strategic resources to help the Company continue its strong growth into the years ahead and to enhance the service quality and offerings it provides to its customers. New Mountain identified Intermarine in 2007 as part of a proactive focus on the logistics and infrastructure services sectors. New Mountain's team has worked closely with the management and shareholders of Intermarine since that time, as well as with industry advisors and consultants. Andre Grikitis, President & CEO of Intermarine, said, "We believe New Mountain shares our vision on the opportunities available to our company, and we are excited about leveraging their strong capital base and extensive business building resources. New Mountain can help us to continue our growth into the years ahead and to enhance further the service and value we provide to our customers." "We believe that Intermarine is a high quality, well established and rapidly growing market leader in an attractive and expanding segment of the shipping and logistics industry," commented Michael Ajouz, a Managing Director of New Mountain. Mr. Ajouz continued, "Our extensive due diligence confirmed the multitude of market opportunities available to Intermarine and the high quality of the Company's services. We are excited to partner with the Intermarine management team and look forward to helping the company achieve its maximum potential." New Mountain's investment will further strengthen the company's financial position, leaving the company with minimal debt and significant cash on hand to fund its business activities. There will be no changes in Intermarine's management, operations, or service model as a result of New Mountain's investment. About Legacy Capital
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