Blaschak Coal Corp. Establishes New Mining Operations


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Radnor, PA, January 6, 2011 – Milestone Partners in pleased to announce that in late 2010 its portfolio company Blaschak Coal Corp. (“Blaschak” or the “Company”) completed an add-on transaction in Lattimer, PA, where it purchased a processing plant and secured long-term rights to mine coal.

The project encompasses a large area in Luzerne County, near Hazleton, and mining will focus on the high quality anthracite of the Mammoth vein in the Lattimer basin. In addition to mining and processing anthracite, Blaschak will also supply rock from the site for road construction. The project is expected to create 15 to 20 new jobs for the Company’s union workforce. A large portion of the project’s coal production is expected to be consumed by the rebounding global steel industry, including a number of new export customers.

John Nowaczyk, Principal at Milestone, said, “Milestone is excited to support Blaschak with the capital for this project, which substantially increases both Blaschak’s reservs and production capacity.  We are committed to providing Blaschak with the capital to make future investments as well.”

For more information, please contact John Nowaczyk or Scott Warren at Milestone Partners.

Milestone Partners (www.milestonepartners.com)  is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues successful niche-market leaders that provide high-margin products or services. Milestone’s transactions typically provide liquidity to shareholders of privately owned businesses, facilitate the transition of ownership to key managers, and allow management to capitalize on growth opportunities, while maintaining the legacy of the founders.

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