Harvest Partners

RECENT RELEASES

New York, NYJun 14, 2011

Harvest Partners, LP (“Harvest”), a New York-based private equity firm, announced today that it has completed the acquisition of Packers Holdings, LLC (“PSSI” or the “Company”) from Blue Point Capital Partners, LLC. Terms of the transaction were not disclosed.
PSSI, through its subsidiaries including Packers Sanitation Services Inc., Ltd., is North America’s largest and only nationwide provider of critical outsourced cleaning and sanitation services to the food processing industry. Formed in 1972 as the first such outsourced provider, PSSI has expanded to more than 290 serviced locations and over 9,000 employees across the U.S. and Canada. The services provided by PSSI allow its customers to efficiently and safely operate their food processing facilities. Protein processing plants in the U.S. are inspected on a daily basis by the USDA and must adhere to strict sanitary requirements in order to be permitted to operate. PSSI proactively works with customers to improve facility cleanliness, adhere to rigorous food preparation regulations, optimize facility performance, minimize downtime and improve safety standards.

The management team of PSSI, including Chairman Dan Zelman and CEO Jeff Kaiser, will continue to lead the Company.

“PSSI provides a critical service to a stable and growing market,” said Jay Wilkins, Managing Director at Harvest. “Outsourcing sanitation services to reliable, highly-specialized third parties will continue as regulators and the public increasingly focus on the safety of the nation’s food supply and demand the highest standards.”

Steve Eisenstein, Senior Managing Director at Harvest, said, “PSSI is the clear industry leader for providing sanitation services to beef, pork and poultry processing plants across North America, and the Company continues to expand its presence in the non-protein food industry. We look forward to working with Jeff and his team to offer the financial and strategic resources that will take the Company to the next level.”

“This is the right time in our Company’s evolution to take the next step forward,” said Jeff Kaiser, CEO at PSSI. “We look forward to collaborating with our new partners at Harvest as we continue to provide exceptional service and value to our customers.”

Senior debt was provided by the Senior Secured Loan Program, which is jointly managed by an affiliate of GE Capital and Ares Capital Corporation. In addition, GE Antares Capital provided a revolving credit facility. DLJ Investment Partners provided mezzanine debt financing. White & Case LLP advised Harvest. Harris Williams & Co. and Jones Day advised Blue Point.

Steve Eisenstein and Jay Wilkins of Harvest will be joining the Board of Directors of PSSI. Associate Alex Thorn also worked on the transaction.

About Harvest Partners

Founded in 1981, Harvest Partners, LP (www.harvestpartners.com) is a leading New York-based private equity investment firm pursuing management buyouts and growth financings. Harvest focuses on acquiring profitable companies in the business services, manufacturing & distribution, industrial services, midstream energy and consumer products & retail sectors. This strategy leverages Harvest’s over 30 years of experience in financing organic and acquisition-oriented growth companies.

About PSSI

PSSI, headquartered in Kieler, WI, is a provider of outsourced cleaning and sanitation services to the food processing industry. Through its highly trained workforce, PSSI provides cleaning and sanitation services that allow for the efficient and safe operation of food processing facilities. The vast majority of PSSI’s more than 290 serviced locations throughout the U.S. and Canada require cleaning every 24 hours in order to comply with increasingly stringent food safety regulations. PSSI has been the market leader in North America for nearly 40 years and has established long-term relationships with the nation’s leading food processors.