For Immediate Release.  For more information, contact:  Alan Mayer, 303.592.4844 amayer@gmbltd.com
 
Green Manning & Bunch Advises Colorado Catastrophe & Restoration, Inc. on Sale to Progress Equity Partners

DENVER —December 13, 2006—GMB Business Advisors announced today the sale of Denver-based Colorado Catastrophe & Restoration, Inc., dba COCAT, to an investment group led by Progress Equity Partners and Trevor Martin, COCAT’s CEO.  Progress Equity Partners is a private equity firm with offices in Dallas and Denver.  GMB Business Advisors, the division of Green Manning & Bunch, Ltd. (GMB) focused on lower middle-market companies, served as COCAT’s exclusive financial advisor in the transaction.

Founded in 1996, COCAT is one of the largest regional general contractors delivering comprehensive disaster restoration services.  Known and trusted by property owners, insurance companies and public safety agencies, COCAT has successfully restored thousands of residential, commercial, and industrial properties damaged by fire, flood, mold and other natural or man-made disasters.  Additionally, COCAT has a long and successful history in residential and commercial general contracting, remodeling and renovation.

“GMB’s team provided thorough and insightful advice, strategy and direction throughout the entire process,” commented Trevor Martin, COCAT’s president and chief executive officer.  “I underestimated the detail and complexity of these kinds of transactions.  Alan and his team efficiently managed the entire process, anticipated issues and proposed creative solutions, and diligently worked with me every step of the way to a successful closing.  The value they brought to this transaction cannot be overstated.”

“COCAT was a fantastic company to work with,” said Alan Mayer, managing director of GMB Business Advisors.  “Trevor created tremendous value in COCAT by developing sophisticated business processes and infrastructure unique to the restoration industry.  Our objective was to help him find the right partner and structure a transaction that would position COCAT for continued growth.  Progress Equity satisfied those objectives and we are pleased with the success of this transaction for all parties involved.”

The transaction was structured to provide capital for expansion and growth.  In addition to capital provided by Progress Equity, its investors and Trevor Martin, the transaction was supported by senior debt from Colorado State Bank and Trust and mezzanine financing from Nashville-based Harbert Management Corporation and Stonehenge Capital Company, a Colorado-based CAPCO organization.  COCAT and Trevor Martin were represented by Matt Perkins and Gary Meade of Denver-based Jacobs Chase Frick Kleinkopf and Kelley, LLC.

Green Manning & Bunch, Ltd. is an investment bank specializing in mergers and acquisitions, private placements of equity and debt, and strategic financial advisory services for middle market companies. GMB combines over $15 billion in transactional experience with industry specific expertise in Business Services, Construction, Consumer/Retail, Healthcare and Industrials and lower middle-market expertise from its Business Advisors division to deliver superior results for its clients. From its headquarters in Denver and its Phoenix office, GMB is centrally located to serve clients nationwide. GMB’s corporate parent, COBIZ INC. (Nasdaq: COBZ), is a $2.1 billion financial holding company that offers commercial banking services; trust and fiduciary services; property and casualty insurance brokerage and risk management consulting services; and employee and executive benefits consulting and wealth transfer services.

COCAT is the leading provider of disaster restoration, reconstruction and renovation services in the Rocky Mountain region.  The company’s certified specialists deliver superior quality, service and workmanship for recovery from fire, flood and mold as well as other natural and man-made disasters. As a preferred provider for residential, commercial and industrial properties, COCAT offers a full range of services, 24 hours a day, 7 days a week, 365 days a year.

Progress Equity Partners, Ltd with offices in Denver and Dallas, is a private equity investment firm that invests in well-managed, entrepreneurial, middle market service-based businesses. The principals of Progress Equity have been partnering with entrepreneurs to take their businesses to the next level since 1993 and have successfully completed over 20 transactions.  They are particularly successful in providing entrepreneurs the opportunity to gain liquidity while positioning their business for future growth.