National City Capital Markets Advises Electro-Mec Inc. in Sale to The Riverside Company

CLEVELAND, Feb. 13 /PRNewswire-FirstCall/ -- National City Capital Markets announced today that its Investment Banking Group served as exclusive sell side advisor to Electro-Mec Inc. (Electro-Mec), a leading provider of repair services and sales of industrial electric motors, in its sale to Integrated Power Services Inc. (IPS), a portfolio company of The Riverside Company, a global private equity firm, and the management of the Company.

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"The entire Electro-Mec team is excited about the opportunity to join with a strategic partner that has the scale and capabilities of IPS, and we are particularly pleased to partner with a respected firm like Riverside. We look forward to the future opportunities for growth our partnership with IPS and Riverside will provide," said John Grube, president of Electro-Mec. "National City Capital Markets' skill in marketing Electro-Mec to the appropriate universe of potential buyers and their expertise at managing the terms of the transaction were essential to realizing the final outcome. National City Capital Markets' advice and counsel throughout the transaction was critical to realizing an outcome that is favorable to both Electro-Mec shareholders and to IPS."

National City Capital Markets was engaged to manage the sale of Electro- Mec due to its extensive experience in similar transactions, as well as its broad knowledge of the appropriate buyer universe. National City Capital Markets identified a number of potential financial and strategic parties that would serve as appropriate potential buyers. After an excellent response from the buyer universe and a highly competitive managed sale process, a transaction was effectuated that was acceptable to all parties involved.

"National City Capital Markets is proud to have worked with the Grube family, who over the last 75 years has built Electro-Mec into a respected leader in the electric motor service industry. We are delighted that we could work to form a partnership with Electro-Mec and a private equity firm as well- respected as Riverside," said Sean Dorsey, senior managing director and head of Investment Banking for National City Capital Markets.

"Understanding the goals of the Grube family and their vision for Electro- Mec were critical to creating a transaction that will strengthen the Company's competitive position," added Dave Hegeman, co-head of National City Capital Markets Industrial Group and managing director on this transaction.

About Electro-Mec, Inc.

Electro-Mec provides repair services and sales of industrial electric motors ranging in size from fractional to 5,000 horsepower. Located in Indiana, Pennsylvania, Electro-Mec serves a wide range of end markets including mining, industrial equipment manufacturing, metals, utilities, paper, and other industrial markets. To learn more about Electro-Mec, visit their website at www.electro-mec.com.

About Integrated Power Systems, Inc.

Integrated Power Services offers customers the most timely, high quality motor repair services in the industry. It serves a broad set of growing industries and has built its reputation on a unique "one stop shop" approach offering an array of services from baseline repair to diagnostics and consulting. The Company's long standing customer base gives testament to IPS' high quality and ability to meet the highest repair standards. Through its 11 locations across the U.S., IPS is committed to superior service and reliability. To learn more about IPS, visit their website at www.integratedps.com.

About The Riverside Company

The Riverside Company is the largest private equity firm focused on the smaller end of the middle market ("SEMM") and is one of the industry's most experienced leveraged buyout investors. Riverside specializes in investing in premier SEMM companies (those with enterprise values of less than $150 million) and partners with strong management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in 176 transactions with a total enterprise value of $3.4 billion. Its current portfolio in the U.S. andEurope numbers 61, with combined annual sales of $3 billion, EBITDA of $450 million and more than 11,000 employees. Riverside offers the resources to complete acquisitions smoothly and in as little as 30 days - thanks to its sizeable pool of capital under management (nearly $2 billion in nine funds), over 150 professionals in 17 offices (New York, Cleveland,Dallas,San Francisco,Atlanta,Chicago,Los Angeles,Budapest, Munich,Prague,Warsaw,Amsterdam,Brussels,Madrid,Tokyo,Stockholm and Seoul), and longstanding relationships with partner lenders. Six of seven of the firm's mature vintages currently produce top quartile returns for investors, which are among the world's leading pension funds, endowments, funds-of-funds, insurance companies and banks. To learn more about The Riverside Company, visit their website at www.riversidecompany.com and www.riversideeurope.com.

About National City Capital Markets

National City Capital Markets* provides strategic solutions including financial advisory, capital raising, capital commitment and risk management solutions to our corporate middle market and private equity clients. Backed by the resources of one of the nation's largest financial institutions, National City Corporation (NYSE: NCC), we are committed to building long-term relationships that help our clients address business challenges, maximize value and execute their strategic goals. For more information on Investment Banking at National City Capital Markets, visit the Web site at www.nationalcity.com/investmentbanking.

About National City

National City Corporation (NYSE: NCC), headquartered inCleveland, Ohio, is one of the nation's largest financial holding companies. The company operates through an extensive banking network primarily in Ohio, Florida, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania and Wisconsin and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, and consumer finance and asset management. For more information about National City, visit the company's Web site at www.nationalcity.com.

*National City Capital Markets is a trade name under which corporate and investment banking services of National City Corporation and its subsidiaries, including NatCity Investments Inc. and National City Bank, are marketed. National City Capital Markets is not a legal entity. Securities products and services are provided by NatCity Investments, Inc., Member FINRA and SIPC, and its licensed securities representatives, who may also be employees of National City Bank. Banking products and services are offered by National City Bank.

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