AIC Ventures Acquires the Corporate Headquarters of Spero Electric Corporation.

AUSTIN, Texas -- AIC Ventures announced today that it has purchased the 68,569-square-foot corporate headquarters and manufacturing facility of Spero Electric Corporation located in Streetsboro, OH. AIC Ventures' real estate fund, NL Ventures VI, L.P., through an affiliate, acquired the property and simultaneously entered into a long-term absolute net lease with Spero. The facility sits on 11.24 acres and houses the company's design, engineering, and fabricating operations.

Peter Carlsen, President of AIC Ventures, said, "We are pleased to have completed this sale leaseback as it offers us the opportunity to increase our portfolio of properties in the Cleveland area while enabling Spero to unlock the full value of its real estate. AIC Ventures is committed to becoming the first company people think of when looking for integrity and performance in the sale/leaseback market place. We see tenant relationships as a critical component to our success, and we look forward to a mutually beneficial, association with Spero."

Mitchell Spero, CEO of Spero, added, "We considered a number of financing alternatives, and a sale leaseback with AIC Ventures made the most sense. It has allowed us to reduce debt and position the company, including our new Prospetto line, for future growth."

Firmly founded on a reputation for quality, service and economy, Spero Electric Corporation is a commercial/architectural lighting manufacturer headquartered in Ohio. The company prides itself in offering European-made art glass fixtures, and for 89 years Spero has provided customers with the best in commercial and industrial lighting. Today that tradition continues with its expanded facility featuring state-of-the-art manufacturing equipment. Spero's in-house engineering staff uses the latest in computer technology for optical design and lighting applications. Spero is one of the last "complete" manufacturers, one that can produce "in house" any shape or size of spinning using aluminum, copper or steel. For more information, please visit www.ProspettoLight.com.

AIC Ventures is a leading provider of capital to middle-market companies. With over $500 million in completed transactions, AIC Ventures structures innovative corporate finance solutions for companies facing limited, short-term or expensive alternatives for capital. The company has closed more than 60 transactions in 22 states. Whether sellers need to close quickly, have private equity interests, environmental or other challenges, AIC Ventures can help. For more information, please visit www.AICVentures.com.

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