Azalea Capital Wins Deal of the Year Award

October 18, 2011: Azalea Capital is pleased to announce that its investment in Sage Automotive Interiors, Inc. has been recognized as the "Deal of the Year" at the 2011 Southern Capital Conference held in September at the Ritz Carlton Lodge on Lake Oconee in Georgia.

"We are honored to receive this award from the Southern Capital Conference," said Pat Duncan, Managing Partner at Azalea Capital. "The success of this investment is attributable to the hard work and dedication of all the employees at Sage Automotive Interiors as well as the trust and confidence of our investors at Azalea Capital. I would especially like to recognize the management at Sage for all of their efforts - Dirk Pieper (CEO), Brian McSharry (COO), and Dave Gable (CFO). In addition, I want to thank Jim Micali, Senior Advisor with Azalea, for his work as the Chairman of the Board at Sage Automotive Interiors, Inc."

Sage Automotive Interiors, Inc. is one of the world's leading providers of automotive bodycloth - seating, door panel surfaces, and headliners - to Original Equipment Manufacturers (OEMs) such as Chrysler, Ford, GM, Honda, Hyundai, KIA, Toyota and Nissan. Global offices and manufacturing locations include the U.S., Japan, China, Brazil, Korea, and Europe. SAGE employs approximately 1,100 people globally, with approximately 800 residing and working in South Carolina. 

In 2009, Azalea partnered with management to purchase Sage from Milliken & Co., where it was known as the Automotive Body Cloth Division. Over a period of 18 months, the sales of Sage more than doubled as the Company expanded its presence globally as a stand-alone business fully dedicated to the automotive industry.  In May 2011, the Company was sold to The Gores Group, a private equity firm headquartered in Los Angeles, CA. 

The Southern Capital Conference is an annual meeting where institutional investors and their advisors from across the country come to build and extend relationships with private equity firms headquartered in the Southeastern United States. This year's conference was attended by 50+ Southeastern-based private equity firms with more than $20 billion under management, as well as more than 30 leading institutional investors from across the United States. The conference is hosted by the Atlanta Venture Forum, the largest trade association for private equity investors in the Southeast.

About Azalea Capital

Azalea Capital is an investment firm with offices in Greenville, SC and Birmingham, AL. Azalea provides strategic equity capital to middle-market companies across the Southeast to facilitate management buyouts, business recapitalizations, and growth plans. Partnering with management teams in scalable, operating companies with established revenues and cash flows, we provide both financial and human capital to significantly enhance the long-term equity value of the underlying business. Typical investment candidates will have minimum annual revenues of $10 million in the focus industries of manufacturing, distribution, business services, consumer products, and healthcare.
 
Azalea Capital is actively seeking new investment opportunities for its third partnership, The Azalea Fund III, L.P. Other holdings of Azalea include Star Packaging Corp. (Atlanta, GA), KLMK Group, Inc. (Richmond, VA), Ivize Services, Inc. (Atlanta, GA), ETAK Systems, Inc. (Charlotte, NC), and Sunbelt Chemicals Corp. (Palm Coast, FL). For questions or more information about Azalea Capital, please visit www.azaleacapital.com or contact Pat Duncan.