The DAK Group announces the acquisition of Water-Jel Technologies, Calstadt, New Jersey by The Riverside Company, New York, New York.

Water-Jel is a leading manufacturer and supplier of emergency burn care and other first aid products to the industrial, military and consumer markets. Its core products are first aid creams and ointments, burn dressings, pain relieving gels and fire blankets that provide immediate relief to burn victims. Water-Jel also makes branded and private label antiseptic sprays, hand sanitizers, industrial strength adhesive bandages and children's decorated adhesive bandages. All of its products are manufactured at the Company's FDA inspected and ISO certified facilities in New Jersey.

The Riverside Company is a large, NY based private equity firm specializing in investments in the middle market. The emergency care products company is the firm's newest platform. The acquisition of Water-Jel is Riverside's 14th from the firm's 2003 fund, which closed in January 2004 with $750 million in commitments.

Senior debt was provided by GE Commercial Finance, and New Canaan Funding supplied the subordinated debt. Water-Jel's management team invested with Riverside in the transaction.

"We are really excited about partnering with Riverside as we look forward to building Water-Jel to the next level," commented Howard Hirsch, CEO of Water-Jel. "Riverside is an industry leader and will work with us to ensure that Water-Jel continues to be the leader in its market," added Michael Pisani, the Company's President.

Alan Scharfstein, President, and Nancy Manket, Managing Director, of The DAK Group, acted as financial advisors to Water-Jel and initiated this transaction. The DAK Group has served as the Company's strategic advisor since 1999, when Water-Jel was acquired from its previous owners. Scharfstein stated, "Water-Jel has always been focused on building value for its customers, employees and shareholders. The partnership with Riverside will ensure continued implementation of the Company's on-going growth and expansion strategy."