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Sawaya Segalas News
July 7, 2009
EB Excalibur Completes Acquisition of Certain Assets of Excalibur Electronics

New York — Cortec Group ("Cortec"), a New York based private equity firm which invests in middle-market manufacturing, distribution, and proprietary service businesses, announced that EB Excalibur, Inc, ("EB Excalibur"), a portfolio company of Cortec's affiliate, Cortec Group Fund IV, L.P. ("Cortec Fund IV"), has acquired certain assets of Excalibur Electronics, Inc. ("Excalibur").

Excalibur is a leading designer and marketer of high-margin, niche consumer products including sports, chess and other electronic games, highly engineered radio controlled vehicles, educational products, outdoor living products, tool kits, and home and office accessories. The company's products are marketed under well-recognized company-owned brands and licenses including Excalibur, Einstein, Fox Sports, NFL, and The Weather Channel, as well as under certain customer private brands.

The Excalibur assets acquired include the intellectual property, molds, and tooling for the Excalibur product line. The acquisition was completed as part of a Section 727 Assignment for the Benefit of Creditors process in the State of Florida. EB Excalibur did not purchase any Excalibur contracts, inventory or accounts receivable, nor did EB Excalibur assume any liabilities of Excalibur.

Importantly, EB Excalibur has hired key members of Excalibur's senior leadership team, including Shane Samole, President, Mike Catena, Executive Vice President, other tenured commercial team members, new product development staff, and customer support members.

To improve EB Excalibur's global supply chain, EB Brands Holdings, Inc. ("EB Brands") another Cortec Fund IV portfolio company, will serve as EB Excalibur's exclusive buying agent. To ease the product sourcing transition, certain Excalibur supply chain personnel have been employed by EB Brands' subsidiary, EB Brands (HK) Ltd. While EB Excalibur and EB Brands are both owned by Cortec Fund IV, they are separate legal entities and will operate on an arm's length basis for the foreseeable future.

About EB Brands
EB Brands is a leading designer and marketer of high-margin, high-impulse, niche accessories designed for the fitness, gift, and travel markets with distribution in over 70 countries. The Company has become the leader in each niche category as well as the most valuable vendor in each of its niche categories because it provides trusted brand names (via licenses and respected internal brands) at value prices to the consumer, rapid turnaround to market, value-added services, and high retail margins. Established in 1980, the company's products are sold through a broad range of traditional retail outlets (department stores, specialty stores, catalogs) and mass merchants. For additional information, please visit www.ebbrands.com.

About Cortec
Cortec acquires high value-added, middle-market manufacturing, distribution and service businesses with leadership positions in their market niches. Cortec manages approximately $750 million of committed capital which it uses to acquire platform companies with enterprise values of $30 million to $300 million as well as smaller follow-on acquisitions. For additional information, please visit www.cortecgroup.com.

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