ICV Capital Partners Announces Sale of AAMP of America to the Audax Group

Sale of Leading Automotive Audio Component Supplier Provides Another Successful Exit for ICV Investors

NEW YORK, Nov. 17 -- ICV Capital Partners, LLC (ICV), a private investment firm focused on investments in smaller middle market companies, announced today the sale of its portfolio company AAMP of America (AAMP), a leading developer, marketer and distributor in the 12-volt mobile audio after-market accessory industry, to the Audax Group. Terms of the transaction were not disclosed.

ICV acquired Clearwater, FL-based AAMP in December 2002 as part of the asset liquidation process of bankrupt electronics company, Recoton Corporation. In 2004 and 2005 respectively, ICV assisted AAMP with the add-on acquisitions of SSI America and Pacific Accessory Corporation, which provided the company with new distribution channels and product lines in the OEM integration market.

Willie E. Woods, President of ICV, said, "We were pleased to work with AAMP's founder, Micah Ansley, and his Chief Operating Officer, Ron Freeman, over the past four years to help grow this business. During our partnership with Micah and Ron, we successfully invested in the company by strengthening its infrastructure, investing in IT with the installation of a new MIS system, improving efficiencies in the warehouse and distribution operations, expanding the sales force and introducing new products."

As a result of this successful execution, annual revenues increased to $42 million from $32 million and cash flow increased 40% over the four years under ICV's stewardship. Today, AAMP has the leading share of the 12-volt specialty retailers with entrenched relationships with over 3,300 independent specialist dealers nationwide.

"We are pleased that our partners, Micah and Ron, have selected the Audax Group as their new capital partner to support the continued growth of the Company, and we are confident they will implement new and innovative strategies to further build the company. We are also happy to provide another successful exit and return on investment for our investors" said Mr. Woods.

About ICV Capital Partners, LLC:

ICV Capital Partners is a private investment firm with over $440 million in committed capital from well known institutional investors. ICV is investing from its $313 million second fund, ICV II. ICV pursues a value-oriented investment strategy to invest in strong companies with market leading positions in partnership with management. ICV is managed by four senior investment professionals who have extensive experience in sponsoring management teams and building businesses. In addition, ICV has two co-sponsors, the Initiative for a Competitive Inner City (founded by Harvard Business School Professor Michael E. Porter) and American Securities Capital Partners, L.P. (a $2 billion New York-based private equity firm). Additional information is available at www.icvcapital.com.