Wellesley Targets Project Development in Southern Jersey.

VINELAND, N.J.--(BUSINESS WIRE)--Sept. 8, 1999--

Luncheon Showcases M&A Firm and

Strategies for Business Development

It was all business this past Thursday at the Neptune Restaurant on Delsea Drive at a well attended luncheon hosted by George P. "Duke" Luciano Sr., owner of Cumberland Recycling Corp. and Chairman of the Board of Newfield National Bank.

With more than 50 business and community leaders in attendance, including Elbert Basolis, Jr., Director of the Yardville National Bank, Luciano was quite clear that this was no ordinary lunch. "Make no mistake, we're talking business here," Luciano said. "Business that is important for the southern New Jersey community." Robert P. Luciano and George P. Luciano, Jr. were also present. The central topic of discussion was the introduction of Wellesley Services, LLC, a mergers and acquisitions specialist to the transportation and services industries, and the role it could play in furthering the development of new companies and opportunities for the region.

Underscoring the importance of this event was the attendance of many state and local officials who were on hand to meet with executives from Wellesley and to learn first hand the philosophy of the Montvale company and its plans for the solid waste, home heating and trucking industries. Congressman Frank LoBiondo from the Second Congressional District and state Department of Environmental Protection Commissioner Robert Shinn were joined by Assistant DEP Commissioner Robert Corkney, Solid Waste Commissioner Gary Sondenmeyer, and Assemblyman Nicholas Asselta. Steve Wymbs, Executive Director of the Cumberland County Improvement Authority, and Sidney Brody, Vineland Economic Development Authority, were on hand, as well. Several Cumberland County representatives attended, including the Honorable Kemble Salvo, the Honorable John Kasper, the Honorable Daniel Grasso, Vineland Councilman Perry Barce and Vineland Mayor Anthony Campanella.

The message being delivered was that bigger may indeed be better for the business community in South Jersey. Wellesley, a four-year-old company with an office in the Sun Bank building on Landis Avenue, is a consultant and promoter to the energy, solid waste, and transportation services industries, with additional offices in Rocky Hill, Conn. and Baltimore, Md. Wellesley identifies well-positioned and highly profitable, privately held companies within fragmented industries and creates significantly enhanced valuations and new business opportunities for both the seller and purchaser. The company is currently working with many companies in the Vineland area, although Joanne Wiley, Senior Vice President declined to identify the firms. "Consolidation is what's happening in the world," said Wiley. "What we do is provide opportunities for smaller, successful companies to grab that brass ring."

Joseph Lieze, owner of Garden State Recycling in nearby Deptford, agreed. Lieze is currently working with Wellesley in an ongoing consolidation of solid waste and recycling companies that is sweeping the mid Atlantic. As he sees it, Wellesley's resources and expertise can be tapped to significantly enhance his position, bringing more money and benefits to himself and his employees something that ultimately helps the local economy.

Luciano was in agreement. "We're talking billions of dollars for South Jersey and it keeps it all here." Tom San Giacomo, Executive Vice President also agreed: "There are a multitude of small but highly successful companies that would be well-served to utilize the services of Wellesley. Right now, big is better. There's a lot of opportunity for private businesses here to reap the benefit of what Wellesley has to offer."