The Raymond James Industrial Growth Investment Banking Group served as exclusive financial advisor to Aero Logistics in connection with the acquisition of the Company by Horizon Lines, Inc.

Raymond James is pleased to have advised Aero Logistics and its majority shareholder, Alpine Investors in this transaction. Aero Logistics has been an Alpine Investors portfolio company since 2003.

Aero Logistics is a non-asset-based, third-party logistics provider that specializes in moving expedited shipments (commonly called “air freight”) throughout North America. The Company has built a highly scalable, process driven organization that services shippers with technical or complex logistics challenges. The company serves the health care, energy, retail, food products, heavy equipment, textile and apparel industries. Aero Logistics was founded in 1998 and is based in South San Francisco, California with additional offices in Phoenix, Arizona; Laredo, Texas; and Lexington, North Carolina.

Alpine Investors is a private equity firm with $247mm under management. Alpine invests in small to mid-sized US-based companies, providing full or partial liquidity to entrepreneurs, family members, estates, passive investors or corporate owners. The firm was founded by Mr. Graham Weaver in 2001 and is headquartered in San Francisco, California.

Aero Logistics and Horizon Lines, Inc. closed the transaction on August 22, 2007.