TBG Holdings Acquires Monkey Rock to Enter Railroad Industry
Announces Resignation of CEO and Appoints New Management Team
FORT LAUDERDALE, FL -- (Marketwire) -- 02/27/13 -- TBG Holdings
Corp. today announced that it has acquired Monkey Rock (OTCQB: MKRO)
and will reposition the company to compete in the fast growing and
profitable short line and regional freight railroad industry. It also
announced that MKRO CEO John Dent has resigned from the company. Mr.
Dent has assisted in the transition of Monkey Rock and is excited
about the new management team that will be in place to help it move
into the rail industry.
The TBG management team will immediately work to transform MKRO,
which is a fully reporting non-operational entity, into a
rail-focused holding company. As part of the transition, the new
company will be renamed Continental Rail Corp.
The newly-appointed President of Continental Rail Corp. will be Wayne
A. August, a 22-year veteran of the rail industry. Mr. August is an
accomplished executive who has successfully coordinated several M&A
transactions during his career. Most recently he was employed by
Patriot Rail Corp. as Vice President of Corporate Development. At
Patriot, he led the acquisition efforts that resulted in the
company's growth to one of the leading short line holding companies
in the U.S. Prior to that, he was with RailAmerica for 10 years where
his last position was Vice President - Corporate Strategy. He started
his rail career in 1991 as a management trainee with CSX Corp. He has
senior management experience in several areas, including M&A,
financial planning, investor relations and strategic planning. Mr.
August holds an MBA from Duke University's Fuqua School of Business
and a BS in Engineering from the University of Florida.
Alongside Mr. August will be newly-appointed Chief Financial Officer
Tim Hart. Mr. Hart has over 30 years of accounting and finance
experience, including 10 years with KPMG, one the world's largest
international public accounting firms. He also has an accomplished
background and a comprehensive understanding of the railroad
industry, working with companies such as RailAmerica and Patriot Rail
Corp. over the past 25 years. Mr. Hart holds a bachelor's degree in
Accountancy, Economics and Business Administration from Thomas More
College, and has been a Certified Public Accountant since 1984.
Neil Swartz, Chairman and CEO, said, "We are pleased to have Wayne
join Continental Rail Corp. and lead our efforts to acquire short
line freight railroads and rail-related businesses. He has a proven
track record and the experience to get the job done. Combined with
Tim's financial expertise, we have the beginnings of a great
management team. I am confident that this transition of MKRO to the
fast growing rail industry will be a positive one for all
shareholders." More information can be located online at
About TBG Holdings
TBG Holdings Corp. ("TBG") is a financial and
business advisory consulting firm that works with public and private
companies to bring a sophisticated and efficient approach to
structuring their capital while positioning their company for
innovative growth. TBG provides a full range of business services
which include marketing and sales support, financial advisory,
capital formation and accounting to their clients and portfolio
companies Global Beverage Solutions Inc, IGSM GROUP, Airborne
Security and Protection Services, and Omni Scents.
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