Park Avenue Equity Partners, L.P. Announces the Acquisition of Meyer Material Company

New York, April 8, 2005 – Park Avenue Equity Partners is pleased to announce that it has partnered with management and other investors in its acquisition of Meyer Material Company. Meyer Material, headquartered in McHenry, IL, is primarily engaged in the manufacturing and delivery of ready-mix concrete and the mining and sale of associated aggregate materials in the suburban Chicago, IL and Milwaukee, WI markets. Meyer Material maintains market-leading positions in all areas in which it operates. Meyer’s sand and gravel mining operations supply a majority of the Company’s ready-mix operations’ raw material needs.

Meyer Material owns and operates a fleet of approximately 500 ready-mix concrete trucks that deliver concrete produced from its 27 ready-mix concrete plants located throughout the suburban Chicago and southern Wisconsin marketplace. The Company owns and operates 10 sand and gravel (aggregate) mining and processing operations and is one of the top 25 producers of sand and gravel in the United States. Additionally, the Company provides concrete placing and excavation services and owns and operates Paveloc Industries, Inc., a manufacturer of concrete paving stones and retaining wall systems.

Park Avenue Equity’s analysis of the competitive advantages of a vertically integrated operation, the Company’s leading position in the expanding Chicago-land and southern Wisconsin markets, and Meyer Material’s history and reputation for quality and service provided a strong basis for the investment. Park Avenue Equity is excited to partner with a strong and experienced management team whose intimate knowledge of the local markets should expand Meyer Material’s presence in the Chicago-land and southern Wisconsin markets.

Park Avenue Equity Partners, L.P. is a $100 million private equity firm focused on middle-market companies in a wide range of industries. The Partners have contributed approximately 25% of the Fund’s committed capital and have broad experience in all aspects of private equity. Park Avenue Equity makes equity and equity-linked investments in companies with opportunities for growth, established profitability and excellent management teams. The Firm is an active partner with management in building the value of its portfolio companies.

Park Avenue Equity Partners, L.P.:
William Mayer or Bryant Dun
12 East 49th St. 40th Floor, New York, New York 10017
O (212) 758-4446
F (212) 430-0170