That would be the Curve control in ACR or Photoshop...
Yes. Curves in Photoshop is one way. My TLR Tone Enhance action set includes a Punch Blacks action. It uses a Curves adjustment layer to boost the blacks.
My action goes right up the diagonal line and pins the curve at (75, 75), (100, 100), (125, 125), (150, 150), (175, 175), (200, 200), (225, 225). That keeps the curve above the black punch from shifting. Then it pulls the curve down so Input = 30 and Output = 15.
Be sure to set the Blend Mode to Luminosity to avoid color shifts in the shadows with this maneuver.
In ACR 4, you might consider the Blacks slider. It is the RAW equivalent of the Levels slider in Photoshop. Better would be to apply a Point Curve. You could add the points I mention and save your own preset in just a couple of minutes.
Send me an e-mail or a Yahoo IM (gmitchel850) and I'll send you the .XMP file for an ACR preset that's the equivalent of the Curve setting from my TLR Punch Blacks action. Or a Lightroom preset, if you prefer.