Carlyle Mezzanine Team Makes Five Investments

New York – Global private equity firm The Carlyle Group today announced that its Mezzanine investment team has made investments aggregating $75.5 million in five companies: United Road Towing, Shari’s Management Corporation, LPL Holdings, Inc., Targus Group International and American Achievement Corporation. Terms of the transactions were not disclosed.

• American Achievement Corporation; manufactures yearbooks, class rings, achievement publications and other related products sold to high school and college students; Carlyle purchased Series A Mandatory Redeemable PIK Preferred Stock from the company and common equity from Fenway Partners and JP Morgan Partners; January 2006.


• Targus Group International; designs, markets and distributes notebook computer carrying cases and accessories; Carlyle purchased securities consisting of Second-Lien debt and common equity in support of a completed acquisition of the company by Fenway Partners; December 2005.


• LPL Holdings, Inc.; exclusive provider of investment advisory, marketing, administrative, distribution and information systems services to the largest independent financial advisor network in the U.S.; Carlyle purchased Senior Subordinated Notes from Goldman Sachs Mezzanine Partners and common equity to help finance the buyout of Linsco Private Ledger Corporation by Hellman & Friedman and Texas Pacific Group; December 2005.


• Shari’s Management Corporation; leading operator of family-style restaurants in the Pacific Northwest with 97 owned and operated restaurants throughout Washington, Oregon, Idaho, Wyoming, California and Nebraska; Carlyle purchased Senior Subordinated Notes with warrants and Junior Preferred Equity to finance the acquisition of the company; December 2005.


• United Road Towing (URT); largest automobile towing company in the U.S.; Carlyle invested in the company, in partnership with Milestone Partners, by purchasing a Senior Loan B, Senior Subordinated Notes and common equity; November 2005.

Managing Directors James Shevlet, Leo Helmers and Rufus Rivers co-head the Mezzanine team. Mr. Shevlet said, "It’s been a busy time for our team. These five transactions show the scope of our financing capability and the variety of industries we can invest in. We expect 2006 to be another busy year."