News

Brings State and Federal MBE Certification, Electronic Tolling Solutions to Toll Authority Sector

8/19/2010
Press Release

Bristol, PA – Aug. 19, 2010 – In an innovative approach to solving the challenges associated with electronic toll collection, certified minority business enterprise (MBE) Caerus Resources, LLC, and MetaSource, LLC, have formed an exclusive partnership to deliver proven business process outsourcing solutions to the toll authority sector. The partners will pursue electronic toll collection and business process outsourcing (BPO) opportunities including license plate image processing, violations processing, call center and customer service, document hosting and workflow.

“The industry trend towards all-electronic toll collection has created a gap of qualified, experienced providers capable of delivering a full range of high volume outsourcing services to an emerging market,” says Caerus Founder Doug Deaton. “Caerus set out to identify credible partners to help toll authorities deal with these new challenges and found that market leader MetaSource, with its global footprint, fully integrated delivery platform and commitment to SAS 70 and PCI compliance, was the obvious choice.” .

Caerus/MetaSource electronic tolling solutions provide toll authorities and strategic partners with the ability to rapidly deploy highly customizable delivery options ranging from fully outsourced services, discrete project work, as well as collaborative outsourced processing solutions. The service platform is specifically tailored to work directly with toll authorities or as a subcontractor for a strategic partner. .

“Caerus is a great partner for MetaSource,” says Doug Giovanni, MetaSource Vice President of Sales and Marketing. “Their MBE certification and industry knowledge combined with our process and solutions infrastructure brings an aggressive and focused resolve to toll authorities and the challenges associated with electronic toll collection.” .

About Caerus Caerus Resources is a state of Texas and federally certified MBE professional services firm that partners with industry-leading IT services firms to create fully-integrated business process outsourcing (BPO) solutions for demanding clients in the transportation and energy sectors. Areas of expertise are project structuring and project management, as well as business development and marketing. For more information, contact Caerus President Doug Deaton at (214) 843-1130 or visit www.caerusresources.com. .

About MetaSource MetaSource is a leading Business Process Outsourcer (BPO) of back office and content management solutions servicing a national clientele through a SAS 70 certified and PCI compliant mix of four domestic locations and multiple processing centers in Mexico, Canada, India and China. The Company’s experience and reputation for delivering superior quality and accuracy is built upon a scalable business platform that is robust, thoroughly tested, and engineered for high-volume results easily customizable to the most demanding client requirements. For more information contact Doug Giovanni, Vice President of Sales and Marketing at (801) 513-4154 or visit www.MetaSource.com.

6/30/2010
Press Release

Brunswick, Ohio – I.D. Images today announced it acquired the assets of Chicago, IL based label converter, Specialty Tape & Label. Terms of the transaction were not disclosed.

Specialty Tape & Label is the second strategic acquisition over the past year for I.D. Images. The acquisition enhances I.D. Images’ capabilities with unique technology, equipment and processes. Enhanced capabilities include digital printing as well as unique multi-web handling for combination forms, coupons and integrated cards to name a few. The acquisition also enlarges I.D. Images’ distribution footprint to meet growing demand of Variable Information Labeling media products in the region. These capabilities align strategically with I.D. Images’ long-term focus on higher value growth segments like healthcare, food, electronics, chemical and consumer durables. “We’re very excited about the acquisition as it will provide our collective customer base with a host of new capabilities, products, and services to better serve their customers”, according to Brian Gale, President, of I.D. Images. “Specialty Tape & Label has a history of providing unique solutions to technically challenging applications. Both companies share a ‘customer first’ approach to business. We look forward to working with Al, Ken and Rick Paveza and the team at Specialty Tape.”

I.D. Images will continue to maintain operations at the existing Specialty Tape & Label facility and fully expects to expand products distributed out of that facility to better service customers in that region.

I.D. Images, founded in 1995, is a leading manufacturer of converted label media for the Variable Information Printing (VIP) market. The company specializes in providing label solutions for product and package identification across varied markets including Transport and Logistics, Retail, Food and Beverage, Office Products, Consumer Durables and Healthcare. I.D. Images offers a comprehensive product offering for VIP printing technologies including Thermal Transfer, Ribbons, Direct Thermal, Ink Jet and Laser Cut Sheet media, on various paper and film or synthetic substrates. In addition, I.D. Images offers significant custom label capabilities including four-color printing and various adhesive systems to meet virtually any application need. The label media is used in various applications including shipping, inventory tracking, asset identification, shelf marking, prescription, patient identification, drum and sports equipment to name a few. I.D. Images sells exclusively through distribution with a primary focus on packaging distributors, value added resellers and other label converters.

For additional information contact: Tim Mlnarik, Business Development Manager at 330.220.7300 or tmlnarik@idimages.com.

Combination Creates Unrivaled Leadership in Technology Solutions and Connectivity Across the Entire Food & Beverage Supply Chain

10/9/2009
Press Release

PHOENIX, AZ – October 9, 2009 –- AFS Technologies, Inc (“AFS”), the leading provider of software solutions to trading partners throughout the food and beverage channel, announced today that it has completed the acquisition of Becton Schantz, Inc. (“Becton Schantz”), an Atlanta, GA-based leading provider of integrated administrative solutions for sales agencies serving the retail, consumer products and food service markets. Becton Schantz was acquired for cash, and funded by AFS Technologies´ own cash balances.

Following the acquisition of Becton Schantz, AFS Technologies now serves over 1000 customers within the manufacturing, sales agency (broker), third-party logistics (3PL) warehouse, and distribution segments of the food and beverage channel. AFS provides a broad portfolio of powerful solutions, on a licensed and hosted (SaaS) mode, including enterprise resource planning (ERP), warehouse management systems (WMS), business intelligence (BI), order management systems (OMS), trade promotion management and forecasting tools. Additionally, the company´s PROFILE features the industry´s largest database of product information for trading partners throughout the food and beverage supply chain.

“At AFS, our focus is to assist all trading partners in the food and beverage channel optimize profits by eliminating inefficiencies and soft costs by offering solutions that improve productivity and promote connectivity between trading partners”, said Kurien Jacob, Chief Executive Officer of AFS Technologies. “The acquisition of Becton Schantz allows us to extend that focus to a trading partner segment that provides a critical link and valuable offerings to the entire supply chain: the sales agency, or broker.”

“The addition of Becton Schantz´s robust products, along with its well-respected sales agency customer base, into the AFS family will enable us to continue to develop solutions that improve efficiency, enhance collaboration and build profitable connections between all trading partners in our channel;” continued Mr. Jacob. “The ability to exchange and access important product information through PROFILE, eliminate inefficiencies in trade promotion planning and execution and improve coordination in creating meaningful forecasts and demand planning through broader collaboration of key trading partners are just a few of the myriad of benefits that the industry will realize through this acquisition.”

“For the past 25 years, Becton Schantz has been focused on developing powerful solutions for the unique needs of the sales agency market,” said Marc Schantz, President of Becton Schantz. “With the combination of Becton Schantz and AFS, 70% of all transaction data in the food supply chain, representing over $100 billion in value, will flow through AFS software. This will enable PROFILE to provide supply chain connectivity which will improve data flow between the trading partners and reduce costs”

“All of us at AFS are excited at the potential new opportunities for continued product innovation and growth created by the acquisition of Becton Schantz”, said Walter Barandiaran, Chairman of AFS Technologies. “Our vision of building a more efficient food and beverage supply chain by connecting trading partners with best-of-class solutions is enhanced with the addition of Becton Schantz´s products and customers.”

Madison Park Group served as the investment banking advisor to AFS on this transaction.

About AFS Technologies, Inc. AFS Technologies Inc. is the leading provider of business enterprise and on-demand software solutions to customers across the food and beverage channel. Following the acquisition of Becton Schantz, the company now serves over 1000 customers across North America and the Caribbean with solutions designed to reduce costs, increase efficiency, increase sales and margins, streamline internal processes and assist in regulatory compliances. AFS offers the industry´s only complete end-to-end software suite utilizing service oriented architecture (SOA) and the Microsoft .NET framework. This unique modularly designed system offers solutions for Distribution, Sales & Marketing, Financials, Processing, Warehouse Management, Transportation, and Database Services, featuring the industry´s largest database of product information and recipes, the PROFILE™ Database. For additional information, please visit www.afsi.com or call 877-821-3007.

About Becton Schantz, Inc. Becton Schantz is the leading provider of order management and sales force automation solutions for sales agencies. Founded in 1984 to create an efficient software solution for sales agencies, Becton Schantz offers innovative software products, application development and administrative outsourcing services to a wide variety of industries. The companys web-based suite of products, used by over 150 sales agencies in North America, is hosted in their Atlanta-based service center. For more information, visit www.bectonschantz.com

About Madison Park Group Madison Park Group (MPG) is an investment banking firm focused on advising technology and business services companies on pursuing M&A and private equity transactions. Madison Park Group´s principals have extensive transaction and operating experience in the technology and business services sectors and have executed over $30 billion in financing and M&A transactions. For more information, visit www.madisonparkgrp.com or call 212-292-4407.

9/1/2009
ID Press Release

BRUNSWICK, OH – September 1, 2009 — I.D. Images today announced it acquired the assets of Cincinnati, Oh based label converter, Concorde Labeling Systems, Inc. Terms of the transaction were not disclosed.

Concorde Label Systems is a strategic addition to I.D. Images. The acquisition enlarges I.D. Images’ distribution footprint to meet growing demand of Product Identification media products in the region. The acquisition provides added custom and short-run capabilities to our distribution partners. These capabilities align strategically with I.D. Images focus on higher value segments like the medical industry, chemical industry and consumer durables.

“We’re very pleased about the acquisition as it compliments our significant organic growth over the past several years”, according to Brian Gale, President, of I.D. Images. “Concorde Label is an excellent fit with I.D. Images as both companies share a ‘customer centric’ approach to business. We look forward to working with Dan and Larry Gibboney and the team at Concorde. Concorde’s ‘customer first’ focus is in-line with how we operate at I.D. Images.”

I.D. Images will continue to maintain operations at the existing Concorde Label facility and expects to expand products distributed out of that facility to better service customers in that region.

I.D. Images, founded in 1995, is a leading manufacturer of converted label media for the Variable Information Printing (VIP) market. The company specializes in providing label solutions for product and package identification across varied markets including Transport and Logistics, Retail, Food and Beverage, Office Products, Consumer Durables and Healthcare. I.D. Images offers a comprehensive product offering for VIP printing technologies including Thermal Transfer, Ribbons, Direct Thermal, Ink Jet and Laser Cut Sheet media, on various paper and film or synthetic substrates. In addition, I.D. Images offers significant custom label capabilities including four-color printing and various adhesive systems to meet virtually any application need. The label media is used in various applications including shipping, inventory tracking, asset identification, shelf marking, prescription, patient identification, drum and sports equipment to name a few. I.D. Images sells exclusively through distribution with a primary focus on packaging distributors, value added resellers and other label converters.

For additional information or a sample copy, contact: Tim Mlnarik, Business Development Manager at 330.220.7300 or tmlnarik@idimages.com.

Food & Beverage Technology Leader Enhances Presence in Meat and Seafood Distribution and Processing

3/4/2009
Press Release

March 4, 2009 (Phoenix, AZ) — AFS Technologies, Inc., the leading provider of technology solutions to various trading partners across the food and beverage channel, announced today that it has completed the acquisition of 100% of the assets of Interactive Management Systems, Inc. (IMS). IMS provides enterprise resource planning (ERP), processing and warehouse management systems (WMS) to clients in the meat and seafood industry.

With the IMS acquisition, AFS Technologies now provides more than 800 customers in the food and beverage manufacturing, processing, and distribution segments with a broad solutions-based product portfolio, tailored specifically to unique needs of the channel. This modularly-designed system offers profit-optimizing solutions for Distribution, Sales & Marketing, Financials, Processing, Warehouse Management, Transportation, E-commerce and Database Services, featuring PROFILE®, the industry’s largest database of product information and recipes.

“The acquisition of IMS allows AFS to further enhance its already-powerful presence in the seafood, meat processing and distribution space in the food and beverage channel”, stated Kurien Jacob, Chief Executive Officer of AFS Technologies.

“AFS’ acquisition of IMS represents a very positive step forward for both our customers and our products”, said Merle Von Gruben, President and Chief Executive Officer of IMS. “We have built IMS from the ground up by providing our clients with state-of-the-art products that have steadily evolved and improved over the years. AFS’ unique ability to leverage its world-class product development resources ensures that the pace of product enhancements and upgrades will accelerate in the future, providing IMS customers with a clear roadmap for technology upgrades at less-than-market costs.”

This transaction marks the third major acquisition completed by AFS Technologies over the past seven months. In August 2008, the company acquired IRM Corporation (Dallas, TX) and Motek (Beverly Hills, CA). These recent transactions have complemented AFS’ other acquisitions of Sales Partner Systems (sales automation for distributors), Astra (ERP and processing systems for seafood providers) and DMS (ERP systems for food and beverage distributors), creating unrivaled channel intimacy in the food and beverage space.

About AFS Technologies, Inc. AFS Technologies Inc. is the leading provider of software solutions for the food and beverage industry. The company now serves over 800 customers across North America and the Caribbean with licensed and software-as-a-service (SaaS) solutions designed to reduce costs, increase efficiency, optimize profits, streamline internal processes and assist in regulatory compliance. AFS offers the industry’s only complete end-to-end software suite, utilizing service oriented architecture (SOA) and the Microsoft .NET framework. This unique, modularly-designed system offers solutions for Distribution, Sales & Marketing, Financials, Processing, Warehouse Management, Transportation, and Database Services featuring the industry’s largest database of product information and recipes, the PROFILE® Database. For additional information please visit the company’s website: www.afsi.com.

About Interactive Management Systems, Inc. IMS has been providing creative and comprehensive software solutions for food distributors and processors since 1981. IMS’ Enterprise Resource Planning products focus on providing complete integrated company information from the processing room to customer delivery. All IMS solutions utilize the full spectrum of technology, including wireless data collection, to provide management with current accurate information to make timely and accurate decisions.

1/21/2009
News Release

WEST ORANGE, N.J., Jan. 21 /PRNewswire-FirstCall/ — Lincoln Educational Services Corporation (Nasdaq: LINC; “Lincoln”) announced today that it has completed the acquisition of Baran Institute of Technology (“Baran”) for approximately $25.3 million in cash, subject to customary post closing adjustments.

Baran Institute of Technology comprises five distinct schools serving approximately 1,900 students and offers associate and diploma programs in the fields of automotive, skilled trades, health sciences and culinary arts. Lincoln has closed the acquisition of four of the schools – Baran Institute of Technology, Connecticut Culinary Institute, Americare School of Nursing and Engine City Technical Institute, and expects to acquire the fifth school, Clemens College, for an additional $3 million subject to receiving approval from the New England Association of Schools and Colleges (NEASC) at their March meeting. In addition, Lincoln is also acquiring certain assets of Hartford Urban Ventures, LLC and Education Properties, LLC, which provide support services to Baran.

“Baran uniquely fits our strategy of expanding our geographic presence, strengthening our core program offerings and adding opportunities for higher degrees,” said Dave Carney, Chairman and CEO of Lincoln. “The immediate benefits include a state of the art destination automotive and skilled trades campus with a strong New England presence; a growing diesel school in New Jersey that will benefit from our 60 year brand awareness in the New York City metropolitan area; a leading culinary school with outstanding facilities and a growing high school sales force; and an expanded presence in Florida with the addition of Americare’s nursing program. As we implement our marketing and sales processes and invest more resources for advertising, we expect to achieve meaningful operating leverage resulting in strong margin expansion. Finally, assuming that a substantial change application is approved in March by NEASC, we will acquire Clemens College which will be our second regionally accredited institution and will provide the platform for higher end hospitality degree programs.”

These acquisitions are being accounted for in accordance with Statement of Financial Accounting Standards Statement No. 141(R), Business Combinations (“SFAS No. 141”), which is effective for calendar year companies on January 1, 2009. Among other things, SFAS No. 141 requires the additional use of fair value measurements, both as of the acquisition date and in post combination periods and requires that acquisition costs be expensed as incurred. In connection with these acquisitions Lincoln will be taking a charge of approximately $0.02 per share in the fourth quarter of 2008 and for the year ended December 31, 2008 and $0.01 per share in the first quarter of 2009 to account for the expenses related to the acquisition.

We expect these acquisitions, including Clemens, will add approximately $50 million to revenues in 2009, to be dilutive, but not to have a significant impact on 2009 earnings. We expect these acquisitions to be accretive to earnings in 2010.

We are updating our previously issued guidance for the year ended December 31, 2008 to reflect the impact of this acquisition on our 2008 results. In spite of the $0.02 per share charge we are taking in the fourth quarter of 2008, we expect that our earnings per share for the year will meet or exceed our previously issued guidance of $0.69 to $0.71. The strong results we experienced in the fourth quarter of 2008 were fueled by a 17.1% increase in student starts in 2008 over the prior year. Finally, on a same school basis, we expect that 2008 year-end enrollment will exceed the prior year by approximately 17% resulting in us beginning 2009 with approximately 3,100 more students than we had at the beginning of 2008, excluding acquisitions.

We look forward to providing further updates on both of our acquisitions, our results for 2008 and our 2009 guidance in early March of 2009.

About Lincoln Educational Services Corporation Lincoln Educational Services Corporation is a leading and diversified for-profit provider of career-oriented post-secondary education. Lincoln offers recent high school graduates and working adults degree and diploma programs in five areas of study: automotive technology, health sciences, skilled trades, business and information technology and hospitality services. Lincoln has provided the workforce with skilled technicians since its inception in 1946. Lincoln currently operates 36 campuses in 17 states under six brands: Lincoln Technical Institute, Lincoln College of Technology, Nashville Auto-Diesel College, Southwestern College, Euphoria Institute of Beauty Arts and Sciences and Briarwood College. Lincoln had a combined average enrollment of approximately 20,665 students for the quarter ended September 30, 2008.

About Baran Institute of Technology (Baran) Baran is comprised of Baran Institute of Technology (“BIT”), Connecticut Culinary Institute (“CCI”), Clemens College (“Clemens”), Americare School of Nursing and Engine City Technical Institute. Baran has a total of 811 dorm beds in two facilities (Hartford and Suffield, Connecticut), which serve BIT, CCI and Clemens students.

Baran Institute of Technology

BIT is in East Windsor, Connecticut which is 12 miles north of Hartford. BIT offers diploma programs in automotive, diesel, collision repair, motorcycle, HVAC, electrical and welding. This campus serves approximately 850 students of which 75% come from New England and the remainder come from over a dozen other states. BIT is accredited by ACCSCT.

Connecticut Culinary Institute (CCI)

CCI has campuses in Hartford and Suffield, Connecticut and offers diploma programs in culinary arts, baking and pastry and Italian culinary arts. CCI has approximately 650 students of which approximately 80% come from New England and the remainder mainly come from six other states. CCI is accredited by ACCSCT and the American Culinary Federation Foundation, Inc.

Clemens College

Clemens College shares a facility in Suffield with CCI and offers associate degrees in Hospitality Management to approximately 75 students from across the US and abroad. Clemens College is regionally accredited by NEASC.

Americare School of Nursing

Americare has two facilities in Florida: Fern Park, which is outside of Orlando, and St. Petersburg. Americare offers an associate degree in Surgical Technology and diplomas in dental assisting, medical coding and billing, medical assisting, practical nursing and patient care technician. Americare serves approximately 250 students and is accredited by ABHES. Engine City Technical Institute

Engine City is located in South Plainfield, New Jersey and has approximately 125 students. Engine City offers a diploma program in diesel engine repair.

Statements in this press release regarding Lincoln’s business which are not historical facts may be “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in Lincoln’s Form 10-K for the year ended December 31, 2007. All forward-looking statements are qualified in their entirety by this cautionary statement, and Lincoln undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.

SOURCE Lincoln Educational Services Corporation

CONTACT: Brad Edwards of Brainerd Communicators, +1-212-986-6667, for Lincoln Educational Services Corporation (LINC)

Food & Beverage Technology Leader Enhances Portfolio with Powerful WMS Offering

8/29/2008
Press Release

August 29, 2008 (Phoenix, AZ) — AFS Technologies, Inc., the leading provider of technology solutions to the food and beverage channel, announced today that it has completed the acquisition of 100% of the shares of Motek Information Systems, Inc., the provider of Priya®, the award-winning Warehouse Management System (WMS) used by a number of the food and beverage industry’s leading manufacturing and distribution companies.

With the Motek acquisition, AFS Technologies now provides more than 750 customers in the food and beverage manufacturing, processing, and distribution segments with a broad solutions portfolio tailored specifically to the unique needs of the channel. This modularly-designed system offers solutions for Distribution, Sales & Marketing, Financials, Processing, Warehouse Management, Transportation, E-commerce and Database Services featuring the industry’s largest database of product information and recipes, the PROFILE® Database.

“The acquisition of Motek allows AFS to further enhance its already-powerful presence in the Warehouse Management and 3PL System space in the food and beverage channel,” stated Kurien Jacob, Chief Executive Officer of AFS Technologies. “The additional functionality available within the Priya® system ensures that AFS will continue to offer its customers the most comprehensive, ‘best-of-breed’ WMS solution available in the F&B industry.”

“AFS’s acquisition of Motek helps us overcome the main objection we get during our sales process– that we are too small. With the leadership position that AFS has in the food and beverage segment, this will no longer be a constraint,” said Ann Price, President and Chief Executive Officer of Motek. “We have built Motek from the ground up by providing our clients with state-of-the-art WMS products that have steadily evolved and improved over the years. AFS’s ability to leverage its resources ensures that the pace of penetration in this segment will accelerate. Our existing customers will benefit from the increased resources available for development and technology upgrades.”

“All of us at AFS are committed to continuing to provide our customers in the food and beverage channel with the most complete portfolio of state-of-the-art technology solutions available, all tailored to address the specific needs of our customers involved in the food and beverage supply chain,” added Walter Barandiaran, Chairman of AFS Technologies. “The Motek acquisition underscores that commitment to product leadership and innovation, especially in the WMS space.”

About AFS Technologies, Inc. AFS Technologies Inc. is the leading provider of software solutions for the food and beverage industry. The company serves over 750 customers across North America and the Caribbean with solutions designed to reduce costs, increase efficiency, increase sales and margins, streamline internal processes and assist in regulatory compliances. AFS offers the industries only complete end-to-end software suite utilizing service oriented architecture (SOA) and the Microsoft .NET framework. This unique modularly designed system offers solutions for Distribution, Sales & Marketing, Financials, Processing, Warehouse Management, Transportation, and Database Services featuring the industry’s largest database of product information and recipes, the PROFILE® Database. For additional information please visit our website: www.afsi.com.

About Motek Information Systems, Inc. Since 1989, Motek has been developing cutting-edge Supply Chain Execution software solutions to help businesses streamline their warehousing and distribution operations. The company’s innovative use of intelligent hand-held radio frequency mobile computers in a true client/server architecture takes mobile computing and warehouse management to a new level of performance. This mobile client approach makes Priya®, the award-winning Warehouse Management System (WMS), a truly scalable solution. Priya® is a highly-configurable WMS solution uniquely designed to allow users to accommodate changes in their business processes or changing customer requirements.

5/15/2008
Press Release

Jamaica, New York – May 15, 2008 — Cargo Airport Services USA, LLC (“CAS”) is pleased to announce that Cathay Pacific has awarded CAS the cargo handling contract at George Bush Intercontinental Airport (IAH). Cathay Pacific will be the sixth freighter carrier customer at IAH where CAS is the largest cargo handler. CAS is celebrating their tenth year anniversary at IAH providing cargo handling services for 16 airline customers.

This is a new destination for Cathay Pacific commencing service between Hong Kong and Houston on September 01, 2008 operating B747/400 freighter aircraft with three weekly flights.

Neal Moran, CEO of CAS, commented that “We are excited about this new business and the future opportunity to partner with Cathay Pacific in other CAS gateway locations. Cathay Pacific is a World Class Pacific Rim operator and we look forward to contributing to their success in the Houston market with our industry proven record as a quality cargo handler”.

In 2007, CAS acquired Genesis Aircraft Support based in Houston, Texas and the Cargo Zone Group of Companies based in Montreal, Canada, with operations in Toronto and Montreal. With the addition of Seattle in 2007, CAS will have operations at 14 cargo facilities throughout the US and Canada, with a leading cargo handling position in most of the markets it serves.

Cargo Airport Services USA is based at JFK International Airport and provides ramp, international cargo handling and facilities management services to over 50 carriers and freight forwarders in eight Gateway Cities. CAS expansion plans include other international gateways throughout North America in 2008. For more information regarding CAS contact Phil Jensen, Director of Sales and Marketing, at (917) 842-3579 or pjensen@casusa.com or visit our website at: www.casusa.com

12/20/2007
CAS Press Release

December 20, 2007 – Jamaica, New York — Cargo Airport Services USA, (“CAS”) announced today that Neal A. Moran has joined the Company, effective immediately, as Chief Executive Officer. Mr. Moran will report to Carl A. Smitelli, founder and C.E.O. Emeritus of Cargo Airport Services USA, LLC.

Mr. Moran joins CAS from DHL Express where he was the Director for DHL’s International Operations at John F. Kennedy International Airport in Jamaica, New York. In this position, Mr. Moran was responsible for all cargo processing and ground handling operations, full brokerage services and US Federal regulatory compliance. New York is one of the most strategic gateways in DHL’s global network, being the central processing facility for all inbound and outbound cargo to Europe, Africa and the Middle East. Previously at DHL, Mr. Moran served as the Regional Director for the Midwest region where he was responsible for 1,200 employees at over 50 locations. Prior to joining DHL in 1993, Mr. Moran spent 15 years in a number of increasingly senior positions with UPS in the metro New York area and Greenwich, Connecticut.

Mr. Smitelli stated that “Neal’s more than thirty years of experience working with DHL and UPS, and the close attention to detail required to meet their strenuous time and quality requirements will be a tremendous asset to our Company. Neal will build upon our operations team, which we believe is the best in the cargo industry, and will work with our organization to expand CAS’ presence throughout the North American cargo market. His in-depth operational experience, leadership skills and commitment to customer service will insure our continued success well into the future. We are pleased he is joining CAS.” Mr. Duffy, President of CAS, added that “Neal’s operational expertise and extensive customer relationships will further distinguish CAS in the cargo industry, and ensure that CAS continues to provide the best service to our customers as well as help facilitate our entry into new markets.”

Cargo Airport Services USA is a full service cargo handling company based at John F. Kennedy International Airport in Jamaica, New York. CAS provides a full range of cargo handling services such as ramp services, warehouse handling of import and export cargo, traffic handling, snow removal, and push back services for international and domestic cargo carriers. CAS is the largest U.S. based cargo handler in North America, with operations at the international airports in New York, Houston, Newark, Washington Dulles, San Antonio, Alliance-Ft. Worth, Seattle, Toronto and Montreal, Canada. CAS services more than 60 international and domestic carriers from 15 facilities with three additional locations scheduled to come on line in 2008.

For additional informational regarding CAS contact Phil Jensen, Director of Sales and Marketing, at 718 656-1533 or pjensen@casusa.com.

Closes on a $5.2 million Equity and Mezzanine financing led by Ticonderoga Capital and Merion Investment Partners, LP

9/28/2007

PHOENIX – September 28, 2007 – AFS Technologies, Inc. (“AFS”), the leading provider of enterprise software solutions to the Food & Beverage industries, announced today that it has completed the acquisition, for cash and stock, of Sales Partner Systems (“SPS”), a Daytona Beach, FL-based provider of sales force automation (SFA) software and database management services.

SPS is the industry approved manager of PROFILE®, a comprehensive database of product information for the food industry. It contains valuable marketing and specification information on a vast array of products. The information in PROFILE® includes serving suggestions, nutritional information, ingredient statements, packaging & storage information, and preparation & cooking instructions. This information is collected directly from manufacturers and placed in the PROFILE® database. SPS’s software applications, sold on a subscription basis, facilitate the exchange of PROFILE® product information among Manufacturers, Distributors, Operators and other software companies.

AFS now serves over 500 customers, employs over 120 professionals, and is headquartered in Phoenix-AZ, with offices in Milford-CT, Weston-FL, Daytona Beach-FL, and Bangalore, India.

AFS also announced today that it had closed a $5.2 million financing comprised of $3.7 million in equity capital led by Ticonderoga Capital, a Wellesley, MA-based private equity firm, and an additional $1.5 million in mezzanine debt provided by Merion Investment Partners, LP who has been providing capital to AFS for its last three acquisitions, over the past 18 months. The Argentum Group (“Argentum”), a New York-based private equity firm and AFS’s largest shareholder, played an integral role in facilitating these transactions.

Kurien Jacob, AFS’s CEO commented, “SPS was the pioneer in sales force automation in the food industry and has been the leader in this segment for some time. We are delighted to have partnered with the management of SPS to continue the growth of AFS. As the exclusive source for the PROFILE® Database, SPS is in a unique strategic position in the foodservice segment, which has substantial potential for growth.” Mr. Jacob added, “With the acquisition of SPS, AFS has now assembled the industry’s most comprehensive family of product offerings, including Distribution, Food Processing, Financial Solutions, Sales Applications, RF & Voice-based Warehouse Management, and Transportation software.”

“We’re very enthusiastic about becoming a part of the AFS organization” said Joseph Bendix, CEO of SPS. AFS has excellent products built on a state-of-the-art SOA technology platform. Their extensive development expertise, utilizing the Microsoft .NET framework, will enable us to continue to provide our customers with innovative products at a much faster pace than we could have done on our own. In addition, our manufacturing customers will benefit from AFS’s customer base of over 400 distribution companies, who will now have access to their PROFILE® product information. These combined distribution customers reach virtually every foodservice operator in the United States, providing greater value to our manufacturing and distribution customers,” Mr. Bendix added.

“We look forward to supporting the continuing growth of AFS,” said Craig Jones, Managing Partner of Ticonderoga Capital. “We believe the company has an excellent management team and the best enterprise software solution for the markets it serves.”

Walter Barandiaran, Chairman of AFS and a Managing Partner of The Argentum Group concluded, “We are very pleased that Tyler Wick of Ticonderoga and Joe Bendix of SPS have joined AFS’s Board of Directors. They both share the vision of continuing to build AFS into the premier software solutions provider to the food and beverage industries. Today’s acquisition of SPS, following the acquisition of Astra in May 2007 and DMS in April 2006, firmly places AFS in such a leadership position.”

Madison Park Group, a New York-based investment banking firm, advised AFS Technologies, Inc. in the acquisition of SPS.

About AFS Technologies Inc. AFS Technologies, Inc. is the leading provider of food and beverage enterprise software solutions. The company serves over 500 customers across North America and the Caribbean with software designed to reduce costs, increase efficiency, streamline internal processes and assist in regulatory compliances. AFS offers the food and beverage industries the only software solution that provides a complete suite of fully-integrated software applications, utilizing a database independent design, and a Service Oriented Architecture (SOA) built on the Microsoft .NET framework. Solutions available include Distribution, Financials, Food Processing, Sales & Marketing, RF & Voice-based Warehouse Management, Transportation, and Database Services featuring the industry’s largest database of product information and recipes, the PROFILE® Database. For additional information Click Here.

About Ticonderoga Capital Ticonderoga invests in later stage business process outsourcing, healthcare business services and software as a service (SaaS) firms. It focuses upon companies with sustained revenue and proven gross margins. Ticonderoga seeks growth businesses, which have achieved a balance between sustainable growth and expense control. Its capital is typically used to accelerate revenue growth, make acquisitions, or provide liquidity to founders and existing shareholders. Ticonderoga is often the lead and first institutional investor, but also participates as a member of larger syndicates with other respected investment groups. Furthermore, Ticonderoga is often a minority investor thus it views its relationship with management crucial to its success. Therefore, its objective is to create long-term partnerships with exceptional management teams who are building growth businesses and require Ticonderoga’s experience, knowledge, contacts and capital to maximize their success. For more information Click Here.

About Merion Investment Partners LP Merion is the largest independent mezzanine fund headquartered in Pennsylvania and is focused on transactions ranging from $3 – $10 million to support organic growth, acquisitions, buyouts and generational transfer of ownership. Merion can function as a one-stop shop to support smaller equity funds to round out their capital raise by providing both equity and debt or as a coupon only provider to larger funds in support of buyouts or acquisitions. Merion also seeks to work directly with entrepreneurs to support their acquisition strategies as well as provide them with liquidity to diversify concentrated wealth in their companies. For more information Click Here.

About The Argentum Group The Argentum Group is a New York-based private equity firm that provides capital to growing businesses in the lower middle market, and supports expansion growth, buyouts, and recapitalizations. Argentum emphasizes the concept of “partnership investing” – backing strong management teams with proven track records and then working closely to create value together. Argentum invests $3 to $10 million in profitable companies with revenues of $5 to $50 million; and targets industries in the areas of environmental services, outsourced/business services, healthcare services, and information technology. Argentum serves as general partner of investment partnerships with over $400 million of capital under management. Since raising its first fund in 1990, Argentum has invested in over 60 companies across a broad range of industries. For more information ,Click Here.