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Industrial Opportunity Partners Has Been Formed to Invest in Middle Market Manufacturing Businesses

Chicago, IL - September 20, 2005 - Industrial Opportunity Partners ("IOP"), a private equity firm based in Chicago, IL, announced that it has been formed to make control equity investments in middle-market manufacturing and value-added distribution businesses. IOP was founded and will be led by Ken Tallering, Adam Gottlieb and Bob Vedra, each of whom are experienced private equity investors with successful investment track records. IOP's experienced team also includes a Board of Operating Principals consisting of seasoned business managers each with approximately 30 years of experience and a proven ability to grow and improve middle-market companies. "With this team, IOP is well positioned to execute its value investing strategy and operationally focused approach", said Ken Tallering.

IOP will target the acquisition of underperforming companies that possess strong underlying business fundamentals. Businesses sought by IOP may broadly include profitable companies that require leadership or operational changes to reach their full potential, complex carve-outs of corporate divisions, and companies experiencing significant distress, negative earnings, or bankruptcy. "We will continue to develop our reputations as thoughtful and trustworthy investors who are willing to expend the extra effort to see value where others may not," stated Bob Vedra, adding, "Our experience and effort allows IOP to pursue more complex and challenging transactions."

IOP believes that the market for underperforming companies is less competitive than the traditional buyout market and that such companies can be acquired for more attractive valuations. "IOP is one of a limited number of firms with the resources and skill set to evaluate an underperforming business, develop a detailed operating plan and decisively execute upon performance improvement opportunities," said Adam Gottlieb.

Messrs. Tallering and Gottlieb most recently were Managing Director and Director, respectively, of TMB Industries, a Chicago-based middle-market private equity firm specializing in manufacturing companies. Mr. Vedra most recently was a Managing Director of Wynnchurch Capital, another Chicago-based middle-market private equity firm. At their prior firms, the founders of IOP played integral roles in a number of highly successful investments in underperforming middle-market manufacturing businesses.