H.I.G. Capital Announces Sale of All Metal Services Ltd to Aluminum Services (UK) Limited



    MIAMI, April 27 /CNW/ - H.I.G. Capital, a leading international private
equity firm based in Miami, Florida, announced today that it has completed the
sale of its 50% interest in All Metal Services Ltd ("AMS") to David Potts, the
founder of AMS, and his partner Terry Stocker who now collectively own 100% of
AMS and serve as the company's executive management.

    AMS (http://www.allmetal.co.uk/index.htm), headquartered in London,
England, is a world-wide specialist in the distribution of high performance
alloys to the aerospace market. Offering its customers the widest available
selection of aerospace grade metals outside of the U.S., AMS has annual
revenues in excess of $200 million. AMS operates through five facilities in
the United Kingdom with an additional 5 international sales offices providing
export capabilities to over 35 countries globally. H.I.G. acquired its
interest in AMS in December 2002. Since that time, H.I.G. and the AMS
management team have worked together to successfully grow the business by over
100% while at the same time driving margins substantially higher.

    Matt Sanford, Managing Director of H.I.G., commented, "Working with AMS,
Terry Stocker and David Potts has been a very good experience. Terry and David
are savvy businessmen who understand their industry and the markets in which
they participate, and drive AMS to provide the highest levels of service to
their customers. This transaction provides our investors with a very
attractive exit while also allowing Terry and David to achieve their goal of
100% ownership of the firm that they founded and have grown into a market
leader. We wish Terry, David, and all the employees at AMS continued success
in their future endeavors."

    About H.I.G. Capital:

    H.I.G. Capital L.L.C. ("H.I.G.") is a leading private equity and venture
capital investment firm with more than $3.5 billion of equity capital under
management. Based in Miami, and with offices in Atlanta, Boston, and San
Francisco in the United States, and London, Paris and Hamburg, in Europe,
H.I.G. specializes in providing capital to small and medium-sized companies
with attractive growth potential. H.I.G. invests in management-led buyouts and
recapitalizations of profitable and well managed manufacturing or service
businesses. H.I.G. also has extensive experience with financial restructurings
and operational turnarounds. Since its founding, H.I.G. has completed more
than 75 transactions. The firm currently manages a portfolio of more than 50
companies with combined revenues in excess of $7 billion. For more
information, please refer to the H.I.G. website at www.higcapital.com.




For further information:

For further information: H.I.G. Capital Matthew Sanford Managing
Director 305-379-2322 msanford@higcapital.com

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H.I.G. CAPITAL, LLC

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