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June 23, 2010

CONTACT: Great Ink Communications - 212-741-2977
Roxanne Donovan - roxanne@greatink.com
Jordana Marks - jordana@greatink.com
Jimmy Lappas - Jimmy.lappas@greatink.com

Traxi Advises PPM Technologies, Inc. in the Bankruptcy Sale of Substantially All of its Assets

New York, NY - June 23, 2010 - We are pleased to announce, Traxi, LLC, a national full-service advisory firm, acted as the exclusive investment banker to PPM Technologies Inc., (PPM) in the bankruptcy sale of substantially all of its assets under Section 363 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Illinois. The purchaser is Valens Offshore SPV I, Ltd., Valens Offshore SPV II, Corp., and Valens U.S. SPV I, LLC, PPM's prepetition and post-petition lenders. The transaction closed on June 23, 2010 and the sale order was signed by the Honorable Jack Schmetterer of the Northern District of Illinois.

"We are satisfied with the outcome of the sale, given the short timeframe and challenges facing the manufacturing industry," said Thomas J. Devitt, Managing Director at Traxi, who advised PPM along with Traxi team members Anthony Pacchia, Dennis Rodriguez and Richard Saltzman. "We worked closely with PPM from the due diligence phase to the conclusion of sales process, and believe this was the best outcome for the company."

PPM Technologies is an international supplier of branded technology and services to the food industry sector, headquartered in Newberg, Oregon with regional sales and services offices in the UK and Japan and joint ventures in Mexico and India. PPM has three core product lines: thermal processing/snack food frying, food handling and seasoning, and inspection and a world-wide customer base, with significant sales in Asia, India and Europe in addition to the US. Currently, PPM controls approximately 15 percent of the worldwide market for design and fabrication of equipment catering to the snack food industry. PPM Technologies owns the intellectual property and spare parts inventory of its former sister company, Wright Machinery, located in the UK.

Traxi's experience as a premier advisory firm enabled the firm to handle the extensive due diligence process in a short time frame, identify potential buyers and facilitate the subsequent 363 sale.

If you would like to learn more about Traxi, or would like to inquire about the PPM Technologies transaction, please contact Thomas Devitt at (212) 465-1935 or tdevitt@traxi.com.

In addition to Traxi, the following firms were involved in the transactions:

Aurora Management Partners, Inc.
Greenberg Traurig, LLP
Freeborn & Peters, LLP

About Traxi LLC

Traxi, LLC, is a premier national full-service restructuring and workout advisory firm. The only company to offer comprehensive advisory services that address all facets of a business - including investment banking, corporate advisory and restructuring, loan workouts and note sales, management and transactional expertise - Traxi is recognized for its ability to provide innovative, tailored solutions, crafted by a deep roster of senior, experienced banking, legal, accounting and management professionals.