MINNEAPOLIS, MN – June 4, 2007:
Goldsmith Agio Helms is pleased to announce the recapitalization of Natural Resource Group, Inc. (“NRG”) in partnership with Stone Arch Capital, LLC.  NRG is a leading environmental consulting firm that provides permitting, regulatory, compliance and public affairs services to energy clients.  NRG offers its services to the worlds leading natural gas, oil, liquefied natural gas, and biofuels companies. 

TRANSACTION HIGHLIGHTS
Emily Grothe, CEO of NRG, said of the transaction, “We’re delighted to be working with Stone Arch Capital.  Their principals understand the energy industry and the numerous factors that drive and influence the market.  This partnership presented an easy ownership transition for NRG as it pursues its next leg of development.”  Added Joe Reinemann, President, “I believe Stone Arch will help us continue to realize our growth objectives by providing NRG with access to capital and M&A expertise.”

Bill Jarrett, Goldsmith Agio Helms Managing Director, said, “It’s a great fit.  Both NRG and Stone Arch are based in Minneapolis, and the companies have a great deal of mutual respect.  I’m very pleased with the result.” 

Dave Hallett, Goldsmith Agio Helms Managing Director and head of the firm’s Energy and Natural Resources group said, “The high level of interest in NRG reflects the strength of the energy industry and the resulting attractiveness of energy services companies as acquisition targets.  2006 was a record year in terms of the number of energy service M&A transactions completed, and the level of activity in the sector remains very strong in 2007.”

ABOUT NATURAL RESOURCE GROUP
Natural Resource Group, Inc. (www.nrginc.com) is a leading U.S. environmental consulting firm serving the energy industry. The company offers environemntal and regulatory compliance, inspection, due diligence, permitting, construction management and public affairs services. The company offers its services to the world’s leading natural gas, oil, liquefied natural gas, and biofuels clients.  Among NRG’s clients are some of the world's largest and most recognized energy companies, including BP, ExxonMobile, Shell, Encana, Kinder Morgan, Enbridge, Duke Energy, Verasun Energy, and Pacific Ethanol.  Natural Resource Group, Inc. was founded in 1992 and is headquartered in Minneapolis, Minnesota, with offices in Anchorage, Denver, Houston, Baton Rouge and Providence.

ABOUT STONE ARCH CAPITAL
Stone Arch Capital, LLC (www.stonearchcapital.com) is a private equity investment firm specializing in acquisition financing, public and private transactions, consolidations, and recapitalizations.  The firm focuses on companies located in the Midwestern United States where Stone Arch Capital’s principals have extensive relationships and transaction referral sources.  Stone Arch Capital makes equity investments in lower middle market companies with revenues typically ranging from $20 million to $150 million, and invests in a wide variety of industries.  Collectively, Stone Arch Capital professionals have directed the purchase and sale of over 150 companies during their careers.  The company was co-founded by Peter Grant, Charles Lannin, and Clayton Miller in 2005, and is based in Minneapolis, Minnesota.

ABOUT GOLDSMITH AGIO HELMS
Goldsmith Agio Helms (www.agio.com) is one of the nation's leading independent investment banking firms providing sophisticated corporate finance advisory services to middle-market businesses.  The firm's services include mergers and acquisitions, private placements of debt and equity, distressed advisory and restructuring, and financial advisory and opinion services.  The firm operates internationally from its offices in Minneapolis, New York, Chicago, Los Angeles, and Shanghai and through Agio International, a proprietary partnership of leading independent investment banks with offices in London, Edinburgh, Madrid, Milan, and Zurich. 

Lower Mid-Market Group is a fully integrated division of Goldsmith Agio Helms that represents business owners in the lower end of the middle market.  Its clients include entrepreneurs seeking liquidity, private equity sponsors exiting portfolio investments, and corporations looking to divest non-core holdings.

If you would like more information about this transaction, contact  Dave Hallett (dhallett@agio.com) at 612-339-0500.