MINNEAPOLIS, MN – May 18, 2007:
Goldsmith Agio Helms is pleased to announce the recapitalization of its client, Mackay Envelope Company, LLC, a leading manufacturer of general-purpose and specialty envelopes, photofinishing envelopes and packaging, and on-demand stationery products.  The recapitalization was led by Company Founder and Chairman Harvey Mackay and CEO Scott Mitchell with senior debt financing provided by U.S. Bank (lead arranger) and M&I Bank and junior capital provided by Prudential Capital Partners.  In conjunction with the recapitalization, the Company was renamed MackayMitchell Envelope Company, LLC (“MackayMitchell” or the “Company”).

TRANSACTION HIGHLIGHTS
Mr. Mackay is known for his New York Times #1 bestselling business books "Swim With The Sharks Without Being Eaten Alive" and "Beware the Naked Man Who Offers You His Shirt;" his nationally syndicated newspaper column; and his active schedule of worldwide speaking engagements.  In 2000, Mr. Mackay sold the majority of his stake in Mackay Envelope Company to Mr. Mitchell and private equity sponsor Private Capital Management. 

The latest recapitalization represents a successful liquidity event for Private Capital Management and renews the business partnership between Mr. Mitchell and Mr. Mackay.  Scott Mitchell stated, “Harvey and I are excited to regain control of the Company.  This gives us the independence and freedom to determine our own future as we pursue our corporate mission.”

The MackayMitchell transaction continues the strong track record of Goldsmith Agio Helms’ Private Placement Advisory Services and is the firm’s 40th successful transaction in the printing industry.  R.B. Kiernat, Managing Director at Goldsmith Agio Helms, commented, “We are proud to have assisted Harvey Mackay and Scott Mitchell in this important transaction and we look forward to following MackayMitchell’s continued success with its new financial partners.”

THE COMPANY
MackayMitchell Envelope Company (www.mackaymitchellenvelope.com) The Company manufactures a comprehensive selection of custom envelopes for a wide variety of markets and customers, including some of the largest direct-mail marketers, publishers, and financial services companies in the U.S.  MackayMitchell is headquartered in Minneapolis, Minnesota and has additional manufacturing operations in Mount Pleasant, Iowa and Portland, Oregon.

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.

If you would like more information about this transaction, contact R.B. Kiernat (rkiernat@agio.com) at 612-339-0500.

Minneapolis • 225 South Sixth Street • 46thFloor • Minneapolis, MN 55402 • 612 339 0500

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