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Dresner Partners Advised Damian Services Corporation in Its Sale to Sterling Bancorp



CHICAGO – March 17, 2015 – Dresner Partners, a leading FINRA-registered, middle-market investment bank and IMAP member firm, announced today that it advised Damian Services Corporation in its sale to Sterling Bancorp (NYSE: STL), through its principal subsidiary Sterling National Bank. Damian provides back office services and payroll funding to the temporary staffing industry throughout North America. Sterling Bancorp is a bank holding company that provides a variety of financial and banking services. Terms of the transaction were not disclosed.

“We are pleased that a financial services firm with the vision and seasoned management of Sterling Bancorp will be the new stewards of Damian,” said Alvin Block, President of Damian Services Corporation. “We are confident Sterling's commitment to customer service and its complementary service offering will benefit our customers.”

Bernard Block, Vice President & General Counsel of Damian Services Corporation added, “We were extremely impressed by Dresner Partners’ commitment to Damian throughout the entire transaction. Dresner Partners was thorough and maintained the highest standards. From a process and valuation perspective, the firm’s expertise in financial services, advice and overall support allowed us to complete our objectives.”

“It was a pleasure working with Damian, which has an excellent reputation for high-quality customer service in Chicago and across North America,” said Steven M. Dresner, President of Dresner Partners. “Damian is an industry leader and pioneer known for best-in-class service. Damian enhances Sterling’s reach in an attractive market. I was especially pleased with the efforts of my team, including Kevin W. McMurchy, Senior Managing Director, Financial Institutions, and Brian Schofield, Vice President.”

Chicago-based Damian Services Corporation provides the temporary staffing industry with payroll processing, payroll tax preparation and filing, invoicing and accounts receivable management, business reports, credit analysis, and software. In addition, Damian’s unlimited temp payroll funding gives staffing services the financial capacity to grow in a cash-intensive industry and compete with national and regional providers. For more information, visit www.damianservices.com.

Sterling National Bank, the principal subsidiary of Sterling Bancorp, specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City area through teams of dedicated and experienced relationship managers. Sterling National Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit www.snb.com.

About Dresner Partners

Dresner Partners is a FINRA-registered, middle-market investment bank headquartered in Chicago, Illinois with offices in New York City, Palo Alto, Calif., and Richmond, Va. For more than 20 years, Dresner Partners has provided financial advisory services to middle market companies throughout the world, including institutional private placements of debt and equity, merger and acquisitions advisory, financial restructuring & corporate turnarounds, valuations and strategic consulting services. Dresner Partners is also a member of IMAP, an exclusive global organization of leading merger and acquisition advisory firms. An affiliated company, Dresner

Corporate Services, is a strategic communications firm specializing in public and investor relations. More information is available at www.dresnerpartners.com or http://www.imap.com/locations/usa-chicago/416. You can also follow Dresner Partners on Twitter at www.twitter.com/DresnerPartners.

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For Media Inquiries:
Doug Dusik, Dresner Corporate Services (312)780-7218, ddusik@dresnerco.com
David Gutierrez, Dresner Corporate Services (312)780-7204, dgutierrez@dresnerco.com