Cassel Salpeter & Co. Secures Senior Debt Financing for IPR International, LLC

MIAMI — March 10, 2014  Cassel Salpeter & Co., LLC, a middle-market investment banking firm providing merger, acquisition, divestiture and corporate finance services, represented IPR International, LLC,  in securing senior debt financing from Elm Park Capital Management, a private credit-focused investment firm. The financing will support numerous growth initiatives.

IPR, with headquarters outside Philadelphia, is a recognized industry leader offering private cloud and infrastructure as service solutions, cloud-based data protection and management services, and a complete range of managed solutions.

Cassel Salpeter advised IPR in evaluating its financing alternatives and provided assistance throughout the due diligence and closing process. Cassel Salpeter Director Joseph “Joey” Smith and Vice President Marcus Wai led the assignment. Smith and Wai have decades of experience helping quality, middle-market businesses raise capital and complete mergers and acquisitions.

IPR’s Chief Executive Officer Tami Fratis said: “The support provided by Cassel Salpeter reflects its confidence in our business and its future growth. Cassel Salpeter provided professional, high-quality assistance throughout all phases of the transaction, and we look forward to continuing our relationship as our business grows.”

About Cassel Salpeter & Co.

Cassel Salpeter & Co. is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com

About IPR International

IPR International is a recognized industry leader offering private cloud and infrastructure as a service solutions, as well as colo services and a full range of private cloud managed service offerings like virtual private data centers, storage as a service, network as a service and disaster recovery as a service. Through its comprehensive suite of services, protects, preserves, secures and makes available its clients’ data at all times, no matter when or where the data was created and no matter when or where it is needed.  Through its constantly innovative and evolving services, combined with a passion for security, integrity, availability and ingenuity, IPR helps its clients maintain their own business operations and supports them through any interruptions.  IPR has multiple redundant data centers and serves clients in 25 countries worldwide. For more information on IPR International, visit www.IPRsecure.com

Frederick’s of Hollywood Group Inc. Enters Definitive Agreement for “Going Private” Transaction

HOLLYWOOD, Calif., Dec. 19, 2013 /PRNewswire/ — Frederick’s of Hollywood Group Inc. (OTCQB: FOHL) (the “Company”) announced that it has entered into a definitive merger agreement that provides for the acquisition of the Company by a group consisting of HGI Funding LLC, a wholly owned subsidiary of Harbinger Group Inc., and certain of the Company’s other common and preferred shareholders (the “Consortium”). The members of the Consortium as a group beneficially own approximately 88.6% of the Company’s common stock. The acquisition will be accomplished through FOHG Holdings, LLC (“Holdings”), an entity controlled by the Consortium that was formed for the purpose of the transaction.

Under the merger agreement, the Company’s shareholders who are not members of the Consortium will receive $0.27 per share in cash upon completion of the transaction. The price represents a premium of 50% to the closing price of the Company’s shares onSeptember 27, 2013, the last trading day before the announcement by the Consortium of its proposal, and a premium of 46% over the average closing price of the Company’s common stock for the 45 trading days prior to that date.

The Company’s board of directors delegated to its lead independent, disinterested director the authority to review the initial transaction proposal from, and negotiate terms of the proposal with, the Consortium, with the assistance of legal and financial advisors. The lead director completed a thorough review of the proposal, considered alternatives, negotiated improved terms of the Consortium’s proposal and concluded that the transaction with the Consortium was fair to and in the best interests of the Company’s shareholders other than the members of the Consortium. Based on the recommendation of the lead director, the merger agreement was also approved by the full board other than William Harley and Thomas Lynch, who recused themselves from the deliberations.

In addition, in connection with the execution of the merger agreement, the Company and Holdings entered into a new employment agreement with Thomas Lynch, chief executive officer of the Company, which will take effect only upon the consummation of the merger. Under the new employment agreement, Mr. Lynch agreed to continue to serve as chief executive officer for three years following the merger.

Completion of the transaction is subject to certain customary conditions, including receipt of shareholder approval. The merger agreement must be approved by the affirmative vote of the holders of at least two-thirds of all outstanding shares of the Company’s common stock. If completed, the transaction will result in the Company becoming privately-held and its common stock will no longer be quoted on the OTCQB.

Further details concerning the merger agreement and related documents, including the employment agreement with Mr. Lynch, will be described in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.

Cassel Salpeter & Co., LLC is acting as financial advisor to the lead director in connection with the transaction. Graubard Miller is acting as legal advisor to the Company. Milbank, Tweed, Hadley & McCloy LLP is acting as legal advisor to HGI Funding LLC.

Additional Information and Where to Find It

In connection with the transaction, the Company will file a proxy statement with the SEC. Shareholders are advised to read the proxy statement when it is available because it will contain important information. Shareholders will be able to obtain a free copy of the proxy statement when available and other relevant documents filed with the SEC from the SEC’s website at www.sec.gov, or by directing a request by mail to Frederick’s of Hollywood Group Inc., 6255 Sunset Boulevard, Hollywood, CA 90028, or from the Company’s corporate website at www.fohgroup.com.

The Company and certain of its directors and officers may, under the rules of the SEC, be deemed to be “participants” in the solicitation of proxies from its shareholders that will occur in connection with the transaction. Information concerning the interests of the persons who may be considered “participants” in the solicitation is set forth in the Company’s proxy statements and its Annual Report on Form 10-K, as amended by its Form 10-K/A, previously filed with the SEC, and will be set forth in the proxy statement relating to the transaction when the proxy statement becomes available. Copies of these documents can be obtained, without charge, at the SEC’s website at www.sec.gov, by directing a request to the Company at the address above, or from the Company’s corporate website at www.fohgroup.com.

Forward Looking Statement

Certain of the matters set forth in this press release are forward-looking and involve a number of risks and uncertainties.  These statements are based on management’s current expectations or beliefs.  Actual results may vary materially from those expressed or implied by the statements herein.  Among the factors that could cause actual results to differ materially are the following: competition; business conditions and industry growth; rapidly changing consumer preferences and trends; general economic conditions; working capital needs; continued compliance with government regulations; loss of key personnel; labor practices; product development; management of growth, increases in costs of operations or inability to meet efficiency or cost reduction objectives; timing of orders and deliveries of products; risks of doing business abroad; the ability to protect our intellectual property; satisfaction of the various conditions to the closing of the transaction contemplated by the merger agreement; and the other risks that are described from time to time in the Company’s SEC reports.  The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

About Frederick’s of Hollywood Group Inc.

Frederick’s of Hollywood Group Inc., through its subsidiaries, sells women’s apparel and related products under its proprietary Frederick’s of Hollywood® brand through 112 specialty retail stores, a catalog and an online shop at http://www.fredericks.com/.  With its exclusive product offerings including Seduction by Frederick’s of Hollywood and the Hollywood Exxtreme Cleavage® bra, Frederick’s of Hollywood is the Original Sex Symbol®.

Our press releases and financial reports can be accessed on our corporate website at http://www.fohgroup.com.

This release is available on the KCSA Strategic Communications Web site at http://www.kcsa.com.

Bioheart, Inc. Enters Into Investment Banking Agreement With Cassel Salpeter & Co.

Leading National Independent Investment Banking Firm to Support Bioheart With Raising Capital Among Other Activities

MIAMI — Dec. 23, 2013 — Bioheart, Inc. (OTCQB: BHRT), a biotechnology company focused on the discovery, development, and commercialization of autologous cell therapies, has entered into an investment banking agreement with Cassel Salpeter & Co. as its exclusive financial advisor in connection with investment banking matters. Among other activities as part of the 24-month agreement, Cassel Salpeter will help Bioheart raise capital.

“Bioheart has great potential and technology that can be commercialized with the right partners and capital,” said James Cassel, chairman and co-founder of Cassel Salpeter, a national independent investment banking firm that provides advisory services to middle-market and emerging growth companies. “We look forward to helping the Bioheart team identify and evaluate various financial opportunities and strategic relationships.”

Bioheart has been treating patients with cell therapy since 2001 and continues to lead the field with ground breaking trials and results. Bioheart’s MyoCell therapy has been successfully administered to hundreds of patients. Bioheart is the first company to receive clearance from the FDA for a Phase I study (REGEN trial) using a combined cell and gene therapy product (MyoCell-SDF-1). In addition, Bioheart has successfully utilized adipose derived stem cells in a variety of indications since 2006.

“Cassel Salpeter’s team has an impressive track record spanning more than 50 years that includes successfully handling numerous capital-raising transactions and providing advisory services to companies in a full spectrum of industries,” said Mike Tomas, Bioheart’s president and CEO. “The firm also has extensive knowledge of Florida’s entrepreneurship ecosystem and has assisted many small and middle-market public companies in the state.”

About Cassel Salpeter & Co.

Cassel Salpeter & Co. is an independent investment banking firm that provides advice to middle-market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. For more information, visit www.casselsalpeter.com. Member SIPC & FINRA.

About Bioheart Inc.

Bioheart Inc. is committed to maintaining its leading position within the cardiovascular sector of the cell technology industry delivering cell therapies and biologics that help address congestive heart failure, lower limb ischemia, chronic heart ischemia, acute myocardial infarctions and other issues. Bioheart’s goals are to cause damaged tissue to be regenerated, when possible, and to improve a patient’s quality of life and reduce health care costs and hospitalizations.

Specific to biotechnology, Bioheart is focused on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of chronic and acute heart damage and peripheral vascular disease. Its leading product, MyoCell, is a clinical muscle-derived cell therapy designed to populate regions of scar tissue within a patient’s heart with new living cells for the purpose of improving cardiac function in chronic heart failure patients. For more information on Bioheart, visitwww.bioheartinc.com, or visit us on Facebook: Bioheart and Twitter @BioheartInc.

SafeStitch Medical Announces Definitive Agreement to Merge with TransEnterix

SafeStitch Medical, Inc. (OTCBB: SFES), today announced that it has entered into a definitive agreement to merge with TransEnterix, Inc., a privately-held, medical device company with advanced technology in the use of flexible devices and robotics for minimally invasive surgery.

Commenting on the merger, Dr. Jane Hsiao, Chairwoman of SafeStitch Medical stated, “We are excited about the breadth of the management team of TransEnterix. There are compelling advantages to innovative flexible technologies and robotics for less invasive surgical interventions, such as our proprietary trans-oral device. This merger will provide greater resources to help bring the pipeline products of the combined company to market and offer our shareholders an excellent opportunity to realize significant value of their investment.”

Todd M. Pope, the existing Chief Executive Officer of TransEnterix, will become the Chief Executive Officer and a Director of the combined company. Paul LaViolette, the current Chairman of TransEnterix, will serve as Chairman of the combined company’s Board of Directors. Dr. Jane Hsiao, the current Chairwoman of SafeStitch Medical will remain a Director, and Dr. Phillip Frost, Chief Executive Officer and Chairman of OPKO Health, Inc. will join as a Director.

Mr. Pope echoed the comments, “We believe this merger will significantly enhance our ability to bring our innovative robotic surgery platform to market. Drs. Frost and Hsiao have a proven track record of driving healthcare innovation while creating significant value for shareholders. We expect the company will be at the forefront of advancements in minimally invasive surgery.”

Under the terms of the merger agreement, current shareholders of SafeStitch Medical and TransEnterix will own approximately 35% and 65% of the combined company, respectively. The Merger is expected to close in the 2013 third quarter, and is subject to customary conditions to closing as detailed in the Merger Agreement. The structure of the transaction will be in the form of a reverse triangular merger with SafeStitch Medical as the surviving corporation and will now be headquartered in the Research Triangle, North Carolina. The combined company will continue to trade on the OTCBB under the symbol SFES initially.

Perella Weinberg Partners is acting as financial advisor and Wilson Sonsini Goodrich & Rosati is acting as legal counsel to TransEnterix. Cassel Salpeter is acting as financial advisor and Greenberg Traurig is acting as legal counsel to SafeStitch Medical.

About SafeStitch Medical

Miami, Florida-based SafeStitch Medical, Inc. is a publicly traded medical device company founded in 2006. Our mission is to develop and market the best in class disposable medical devices to advance minimally invasive surgery for hernia repair, treatment of obesity and other gastroesophageal disorders. SafeStitch Medical has developed and obtained FDA approval to market the AMID Hernia Fixation Device (HFD) for both inguinal and ventral hernia repairs. The AMID HFD allows for faster mesh manipulation, mesh fixation and skin closure.

About TransEnterix

TransEnterix is a development stage medical device company that is pioneering the use of flexible instruments and robotics to improve how minimally invasive surgery is performed. TransEnterix is focused on the development and commercialization of a novel robotic-assisted surgical system.

This press release contains “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipate,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning, including statements regarding our product development and commercialization efforts, benefits of combining TransEnterix and SafeStich Medical, expectations for closing the merger, and our ability to significantly improve clinical outcomes in patients, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors, including those described herein and in our filings with the SEC, could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include, but are not limited to: whether the merger between SafeStitch Medical and TransEnterix will be successful; whether the merger will provide greater resources to help bring the combined company’s pipeline of products, including TransEnterix’s robotic surgery platform, to market; whether the merger will provide shareholders with an excellent opportunity to realize significant value in their investment; whether Drs. Frost and Hsiao’s track record of providing healthcare innovation will create significant value for shareholders and whether that combined company will be at the forefront of advancements in minimally invasive surgery. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements, except as required under applicable law. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

Cassel Salpeter & Co. Named Winner of 7th Annual M&A Advisor Turnaround Award for the Firm’s Work on Airline Restructuring Deal

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 Top M&A Deals and Professionals honored March 6th at the Colony Hotel 

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“The award winners represent the best of the M&A industry in 2012 and earned these honors by standing out in a group of very impressive finalists,” said Roger Aguinaldo, CEO of The M&A Advisor.

MIAMI – March 19, 2013 – James Cassel, chairman and co-founder of Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle-market and emerging growth companies in the U.S. and worldwide, today announced that the firm has been named a winner of the 7th Annual M&A Advisor Turnaround Awards. The firm, which was honored this month at an awards gala at the Colony Hotel in Palm Beach, FL,  was selected from among more than 175 nominations, representing more than 300 companies nationwide.

Specifically, Cassel Salpeter was named a winner in the “Sector Deal of the Year: Consumer Services” category for its work in the restructuring and sale of Silver Airways (formerly Gulfstream International Airlines) to Victory Park Capital.When Gulfstream International Airlines filed for bankruptcy, Cassel and his colleague Scott Salpeter, the firm’s president and co-founder, assisted in the $30 million sale to Victory Park Capital.Other winners who worked on deal: Berger Singerman; Gulfstream International Airlines; RAM Capital Resources; and Vedder Price.

“The award winners represent the best of the M&A industry in 2012 and earned these honors by standing out in a group of very impressive finalists,” said Roger Aguinaldo, CEO of The M&A Advisor. “From lower middle market to multi-billion dollar deals, we have recognized the leading transactions, firms and individuals that represent the highest levels of performance.”

Added Cassel: “Our sincere thanks to our clients and team of professionals who enabled us to earn this prestigious recognition, which is testament to our firm’s commitment to provide objective, unbiased, results-focused services to middle-market and emerging growth companies in the U.S. and worldwide.”

About The M&A Advisor

Since 1998, The M&A Advisor has been presenting, recognizing the achievement of and facilitating connections between the world’s leading mergers and acquisitions, financing and turnaround professionals with a comprehensive range of services including M&A SUMMITS; M&A AWARDS; M&A CONNECTS; M&A ALERTS, M&A LINKS, and M&A MARKET INTEL. More information is available at www.maadvisor.com.

About Cassel Salpeter & Co.
Cassel Salpeter & Co. is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com

See the slide show below for photos from the 2013 M&A Advisor Distressed Investing Summit and 7th Annual Turnaround Awards.


James Cassel to Speak at ‘The Middle Market: Our World of Opportunity’

MIAMI – Dec. 21, 2012 – James Cassel, co-founder of Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle-market and emerging growth companies in the U.S. and worldwide, will serve as a panelist in January at “The Middle Market: Our World of Opportunity in 2013” conference, sponsored by The Alliance of Merger & Acquisition Advisors (AM&AA) and The CFO Alliance. Cassel’s roundtable presentation, “Middle Market Update,” will focus on the current status of and emerging trends in middle-market mergers and acquisitions and will take place from 9:15 a.m. to 10:30 a.m. Wednesday, January 16, at the Hilton Miami Downtown, located at 1601 Biscayne Boulevard, Miami, Fla., 33132.

The conference will feature leading middle-market financial and strategic investors and advisors from around the world who will provide insights into the opportunities awaiting middle-market dealmakers in 2013. The panel is comprised of middle-market M&A industry professionals with extensive experience in the current M&A market and the areas of private equity, investment banking, lending, and data and research. Cassel and fellow panelists will discuss topics including: recent activity; current trends in valuation, leverage, restructuring and deal flow; and predictions on market activity for 2013. Moderated by Graeme Frazier with Private Capital Research/GF Data, the panel also includes: Randy Lampert, with Lampert Debt Advisors; Ken Jones, with Boathouse Capital; and Daniel Confino, with MergerID.

“While most middle-market business owners have been postponing any major business decisions until they’re seeing more clarity and confidence that the U.S. government can execute an effective plan for sustainable growth, they would be wise to begin considering now how to best position their companies for emerging challenges and opportunities as M&A activity begins to increase in 2013,” said Cassel, one of Miami’s best-known investment bankers. “Success in today’s market is all about staying ahead of the trends and working with trusted advisors to develop custom-tailored strategic plans to meet your unique business needs. Those who do can gain a tremendous competitive advantage.”

Nationally recognized for his investment banking expertise and a contributing columnist for The Miami Herald, Cassel frequently lectures on timely issues related to middle-market investment banking. Cassel has successfully negotiated, structured, and executed a broad spectrum of transactions including mergers, acquisitions, and divestitures, corporate and transactional financings, and public offerings for clients nationwide and worldwide. He has extensive experience developing financial restructuring plans, negotiating with creditors, and guiding debtors through bankruptcy proceedings.

About the Alliance of Merger & Acquisition Advisors (AM&AA)
The Alliance of Merger & Acquisition Advisors (AM&AA) is noted as the premier international organization serving the educational and resource needs of the middle market M&A profession. The Alliance of Merger & Acquisition Advisors® (AM&AA) is the premiere International Organization serving the educational and resource needs of the middle market M&A profession. Formed in 1998 to bring together Investors, Advisors and  other Middle Market Transaction Professionals,  AM&AA’s 900+ professional services firms in 22 countries – including some of the most highly recognized leaders in the industry—draw upon their combined transactional expertise to better serve the needs of their middle market clients worldwide. AM&AA members represent sellers and buyers of businesses ranging from $5 to $500 million in transaction value. Their services are seller representation, buyer representation, due diligence, accounting, financing, business valuation, tax planning, legal, strategic advisory, and many other transaction services. For more information, visit www.amaaonline.org or email info@amaaonline.org.

About Cassel Salpeter & Co.
Cassel Salpeter & Co. is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com

Cassel Salpeter & Co., LLC, Names Philip Cassel Associate

MIAMI  April 12, 2012  Cassel Salpeter & Co., a growing independent investment banking firm, recently hired Philip Cassel to its professional staff. Philip will serve as an Associate and will focus on M&A and restructuring assignments.

“Philip’s wide range of expertise is particularly useful at a firm like ours,” saidJames Cassel, the company’s chairman and co-founder. “His background is exactly what we need to help our clients handle complex transactions.”

Philip, a graduate of Massachusetts Institute of Technology, previously held the positions of Associate at Rialto Capital Finance Group (a wholly owned subsidiary of public homebuilder Lennar Corporation) and Analyst at Alvarez & Marsal. In addition to his work in restructuring and private equity, Philip has also assisted with cash flow modeling, budget planning, and court filings.

“I am looking forward to working with a growing investment banking firm in Miami, especially one that gives me an opportunity to work alongside my father,” Philip added.

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co., LLC is a middle market investment bank focused on providing independent and objective advice to middle market and emerging growth companies. Our investment banking and advisory services include broad capabilities for both private and public companies: Mergers and Acquisitions; Restructurings, including 363 Sales and Plans of Reorganization; Equity and Debt Capital Raises; Fairness and Solvency Opinions; Valuations; and Financial and Strategic Advisory.

Our senior partners are personally involved at every stage of all assignments. Our success is based on unbiased advice; understanding each client’s business objectives; providing value added services; and our extensive relationships and expertise. We have forged relationships and executed transactions nationally and internationally.

Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Investment Banking Firm Cassel Salpeter & Co. Names Joseph “Joey” Smith Director

Joseph “Joey” Smith joins Cassel Salpeter & Co. as Director. He brings more than 20 years of middle-market investment banking experience and will foster new client relationships and integrate advisory services into existing relationships.

MIAMI — November 30, 2011  Cassel Salpeter & Co., LLC, a rapidly growing independent investment banking firm, recently hired Joseph “Joey” Smith to its professional staff in the role of Director. He brings more than 20 years of middle-market investment banking experience to the firm.

“Mr. Smith’s career spans over two decades and has given him hands-on experience working in the capital markets and the securities industry on an international scale,” said James Cassel, the company’s chairman and co-founder. “We’re looking forward to Joey fostering new client relationships, integrating our advisory services into existing relationships, and continuing to work with institutional quality, lower middle-market private and public companies on capital raising and sell-side engagements.”

Mr. Smith most recently held the position of senior vice president at Catalyst Financial and was previously a principal and head of investment banking for Capital City Partners and a principal and managing director for First Equity Corporation of Florida. Over the course of his investment banking career, he has worked with middle-market and small cap companies along with institutional investors, family offices, advisors, intermediaries, and high net worth investors.

About Cassel Salpeter & Co., LLC

Cassel Salpeter & Co., LLC is a middle market investment bank focused on providing independent and objective advice to middle market and emerging growth companies.   Our investment banking and advisory services include broad capabilities for both private and public companies: Mergers and Acquisitions; Restructurings, including 363 Sales and Plans of Reorganization; Equity and Debt Capital Raises; Fairness and Solvency Opinions; Valuations; and Financial and Strategic Advisory.

Our senior partners are personally involved at every stage of all assignments.  Our success is based on unbiased advice; understanding each client’s business objectives; providing value added services; and our extensive relationships and expertise.  We have forged relationships and executed transactions nationally and internationally.

Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Bluegreen Corporation Signs Definitive Merger Agreement with BFC Financial Corporation

BOCA RATON, Fla.–(BUSINESS WIRE)–Bluegreen Corporation (NYSE: BXG) (“Bluegreen” or “the Company”)today announced that it has entered into a definitive merger agreement with BFC Financial Corporation (“BFC”) (Pink Sheets: BFCF.PK) which provides for a merger that will, subject to the terms and conditions of the agreement, result in Bluegreen becoming a wholly-owned subsidiary of BFC.

Under the terms of the agreement, which has been approved by a special committee comprised of Bluegreen’s independent directors as well as the boards of directors of both companies, holders of Bluegreen’s Common Stock (other than BFC) will be entitled to receive eight shares of BFC’s Class A Common Stock for each share of Bluegreen’s Common Stock they hold at the effective time of the merger. BFC currently owns approximately 52% of Bluegreen’s Common Stock.

The consummation of the merger is subject to a number of closing conditions, including the approval of both Bluegreen’s and BFC’s shareholders and the listing of BFC’s Class A Common Stock on a national securities exchange at the effective time of the merger. The merger agreement provides for all six of the directors of Bluegreen who are not also directors of BFC to be appointed to BFC’s board of directors at the effective time of the merger. The merger agreement also contains other representations, warranties and covenants on the part of BFC and Bluegreen which are believed to be customary for transactions of this type. The companies currently expect to consummate the merger in the first half of 2012.

BFC is a diversified holding company whose principal holdings include a controlling interest in BankAtlantic Bancorp, Inc. (NYSE: BBX), a controlling interest in Bluegreen, and a non-controlling interest in Benihana, Inc. (NASDAQ: BNHN). BFC and their affiliates have been Bluegreen shareholders since 2002 and Alan B. Levan and John E. Abdo, who have held the positions of Chairman and Vice Chairman of BFC, have held the positions of Chairman and Vice Chairman of Bluegreen since 2002.

John M. Maloney Jr., President and Chief Executive Officer of Bluegreen, commented, “We have had a close and beneficial relationship with BFC since April 2002, and the merger will not have any material impact on Bluegreen’s day-to-day operations. Bluegreen will continue to provide the same high levels of service, attention, and quality that have helped drive our growth and evolution to date. Above all else, we are dedicated to providing vacation experiences, marketing and resort management services that rank among the best in our industry.”

Cassel Salpeter & Co., LLC acted as financial advisor to the special committee of Bluegreen’s board of directors.

Additional Information and Where to Find it:

BFC will file with the SEC a registration statement on Form S-4, in which a joint proxy statement/prospectus concerning the merger will be included. The joint proxy statement/prospectus will be sent to the shareholders of BFC and Bluegreen, who are advised to read the joint proxy statement/prospectus when it is finalized and distributed because it will contain important information. Shareholders of BFC and Bluegreen will be able to obtain a copy of the joint proxy statement/prospectus and other relevant documents filed with the SEC free-of-charge from the SEC’s web site at www.sec.gov or by directing a request by mail to BFC Corporate Secretary, 2100 West Cypress Creek Road, Fort Lauderdale, Florida 33309, or by calling 954-940-4900.

BFC, Bluegreen and certain of their directors and executive officers may, under the rules of the SEC, be deemed to be “participants” in the solicitation of proxies from shareholders in connection with the merger. Information concerning the interests of the persons who may be considered “participants” in the solicitation as well as additional information concerning BFC’s and Bluegreen’s directors and executive officers will be set forth in the joint proxy statement/prospectus relating to the merger. Information concerning BFC’s and Bluegreen’s directors and executive officers is also set forth in their respective filings with the SEC.

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of such securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction.

ABOUT BLUEGREEN CORPORATION

Founded in 1966 and headquartered in Boca Raton, FL, Bluegreen Corporation (NYSE:BXG) is a leading timeshare sales, marketing and resort management company. Bluegreen Resorts manages, markets and sells the Bluegreen Vacation Club, a flexible, points-based, deeded vacation ownership plan with more than 160,000 owners, over 57 owned or managed resorts, and access to more than 4,000 resorts worldwide. Bluegreen also offers a portfolio of comprehensive, turnkey, fee-based service resort management, financial services, and sales and marketing on behalf of third parties. For more information, visitwww.bluegreencorp.com.

Matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on various assumptions and involve substantial risks and uncertainties, including, without limitation, those relating to the merger, the potential benefits of the merger and the risk that the merger may not be consummated in accordance with the contemplated terms, including in the contemplated timeframe, or at all. These risks and uncertainties are not exclusive, and shareholders are referred to the other risks and uncertainties detailed in reports filed by Bluegreen with the SEC.

Read more:http://www.businesswire.com/news/home/20111114005822/en/Bluegreen-Corporation-Signs-Definitive-Merger-Agreement-BFC

Investment Banker Calls on Corporate CFOs to Seize Growth Opportunities

James Cassel of Cassel Salpeter & Co., LLC, Moderates CFO Alliance Panel About the CFOs Role as Chief Investor

MIAMI — August 4, 2011  James Cassel, co-founder and Chairman of Miami-based investment banking firm Cassel Salpeter & Co., LLC, moderated a panel comprised of financial experts who discussed how CFOs can direct and accelerate their companies’ growth. Hosted by The CFO Alliance and the University of Miami School of Business Administration, the presentation titled, “The CFO as Chief Investor: It’s Time to Make the ‘Right’ Investments and Do Deals,” incorporated a presentation, open discussion among panelists, and an audience question-and-answer session.

“Even the most successful companies are apprehensive about investing in expansion during this uncertain period, but the time is ripe for growth” says Cassel. “Many CFOs feel they can’t grow their companies through organic growth alone. Our panel members provided valuable insight about how, when, and where to invest capital.”

After the discussion, Cassel and the other panelists hosted a networking session.

“We finally see that capital is available in the market, and we know that investors want it to be deployed,” says Cassel. “The problem as it pertains to valuation is that many owners and CFOs only hear about the bigger deals – such as LinkedIn and Facebook – so they have unrealistic expectations. I made a point of discussing the value of smaller deals.”

“The CFO as Chief Investor” took place late June, at the Coral Gables Country Club.

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straight-forward advisory services to middle market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

About The CFO Alliance
Established in September of 2007 to promote connectivity through a professional community of leading financial executives, The CFO Alliance brings together the experience, knowledge, and collective wisdom of peers, subject matter experts, and academic authorities to enable senior financial leaders and decision makers to be more effective and act with greater confidence throughout their career. By fostering relationships among those with common objectives, interests, opportunities, and challenges, financial leaders can make long term investments in their companies and their careers through sharing expertise and gaining confidence in their roles. Based on the success of the initial Philadelphia-based chapter, The CFO Alliance has established a national expansion, with a current presence in nine U.S markets: New York, Boston, Washington D.C., New Jersey, Connecticut, Charlotte, Phoenix, South Florida, and Philadelphia. For more information, please visit www.theCFOalliance.org or AchieveNext.com and follow The CFO Alliance Community on twitter @theCFOAlliance.