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New South Business Ventures Closes Six WNC Transactions

ASHEVILLE, NC, May 15, 2006 - New South Business Ventures LLC of Asheville, NC, has completed the brokerage sales of six local businesses in the first quarter of 2006, providing seller representation and support during the transactions, and marking the best business quarter in its 22-year history.

According to New South Managing Partner Scott Sononne, New South's recent success is indicative of a strong trend in the Asheville marketplace. "There is a growing influx of people that want to call Western North Carolina home, and the challenge for most is how to earn a living here. Quite often the answer lies in business ownership. We are seeing strong buyer demand driven by that very motivation. In addition, many prospective buyers from outside the region have accumulated substantial wealth in the form of home equity. This has created available capital for investment into business ownership."

The six transactions completed by New South include:

Construction Hardware, a wholesale distributor and installer of commercial doors, doorframes, door hardware, and specialty items for commercial contractors in Western North Carolina, was sold to Robert Dowling of Chicago on January 23, 2006. New South Business Ventures represented the seller, Ray Snipes, in the transaction.

Maria Burril utilized New South to complete the sale of Gate House Lamps to David Yanik of Asheville on February 8, 2006. The Company designs and manufactures high-end, hand-painted custom lamps, shades and accessories, and has been providing product to retailers and interior designers for ten years.

New South completed the sale of Recollections, a retail business sold by Debbie Sharp of Asheville on February 16, 2006. Buyers Shelly and Steve Arnold plan to maintain the gift shop's current gift-and-tea merchandise mix in addition to operating Adeco Staffing Agency, another business purchased via New South.

Green River Cabins was purchased by Dean Garritson of Virginia, on February 27, 2006. The company manufactures upscale mobile log cabin units for individuals and campground operators from a fabrication facility in Camp Bello, South Carolina. Founder Joe Hamlin was supported in the sale by New South Business Ventures.

Sale of the Antique Tobacco Barn to Coleman Smith and John Pomeroy was completed March 8, 2006. Located in the heart of Asheville's antique district, the business is nationally recognized as one of the premier antique malls in the Southeast. Sellers James and Joan Ramsey facilitated the sale through New South Business Ventures.

Rangoon Moon, Inc. was recently sold to Brian and Rachel Friel of Asheville, North Carolina from seller Alex Bond on April 5th, 2006. Doing business as the "Gutter Helmet," the company is the exclusive Western North Carolina distributor of a multi-patented closed gutter protection system.

As Western North Carolina's oldest and most respected premier business brokerage, New South Business Ventures, LLC specializes in supporting owners of small and medium sized businesses in the sale of their companies. With a success rate over three times the industry average, New South's responsive approach and extensive expertise has provided sound guidance for entrepreneurs in over 250 mergers and acquisitions since its inception in 1984. Contact New South Business Ventures at (828) 254-8700 or www.newsouthbusinessventures.com.

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