Berkshire Partners Acquires HMT from Nassau Point Investors.

BOSTON -- Berkshire Partners LLC today announced that it has acquired a controlling interest in HMT Inc. from Nassau Point Investors LLC. HMT is the leading provider of aboveground storage tank (AST) maintenance products and services primarily for the petroleum and petrochemical industries. Terms of the transaction were not disclosed.

Founded in 1978 and headquartered outside Houston, Texas, HMT is a global supplier of products and services for ASTs which store crude oil, finished products and petrochemicals at pipelines, marketing terminals and refineries. For three decades HMT has been a leader in the AST market as a result of its outstanding reputation for safety, quality, product development and customer service.

HMT is led by Millard H. (Mil) Jones, Jr., President and CEO. Mil has worked in various capacities for the Company for 21 years. The senior management team at HMT has an average of 22 years experience in the industry.

"HMT is a recognized leader throughout its industry because of its seasoned management team's ability to consistently deliver innovative AST solutions," said Kevin Callaghan, Managing Director for Berkshire Partners. "The downtime associated with taking a tank out of service is incredibly costly for refineries and marketing terminals. HMT has developed products and service procedures that save customers considerable time and cost while ensuring the highest levels of safety and quality. With multiple locations throughout the globe, HMT is well positioned to support the growth of its current customer base as well as pursue new opportunities."

This is Berkshire Partners' second investment in the past three years in a supplier to the energy industry. In 2004, Berkshire invested in Bartlett Nuclear, a provider of radiation support personnel and decontamination services to the U.S. nuclear industry.

HMT provides AST products, inspection services, maintenance and repair, coatings and linings, and the engineering and design of new tanks. HMT recently completed a project for a new bulk liquid products terminal consisting of 30 geodesic domes and Aluminator[TM] roofs. The project is considered to be one of the largest of its kind in the world.

"HMT has enjoyed significant global growth over the past decade," said HMT CEO Mil Jones, Jr. "Berkshire Partners' experience in growing mid-sized companies will help us continue to strengthen our leadership position in the AST market and achieve our long-term strategic growth plan. We are excited and look forward to working closely with Berkshire Partners."

The transaction concludes Nassau Point Investors' investment in HMT, which began in 2000. Since that time, HMT steadily expanded its product and service offering and geographic footprint.

"We have enjoyed our partnership with HMT management over the last seven years, and we are very pleased with the positive outcome of our business model," said Jonathan Wendell, Partner of Nassau Point Investors.

Harris Williams & Co. acted as the Company's financial advisor in the transaction and Dechert LLP served as the Company's legal advisor. Berkshire Partners' legal advisor was Weil, Gotshal & Manges LLP. Debt financing for the transaction is being led by affiliates of Societe Generale Corporate & Investment Banking, GE Commercial Finance, Oaktree Capital Management, and Northwestern Mutual Capital.

About HMT Inc.

For 30 years, HMT has been known as the innovative solution provider to the global petroleum and petrochemical aboveground storage tank marketplace. HMT is a worldwide specialty contractor providing a complete suite of products and services to all facets of aboveground storage tanks through tank inspection, maintenance and repair, fabrication, engineering and design, coating and lining, calibration, new tank construction and turnkey services. HMT Tank products meet or exceed the requirements for Emission Controls under the US EPA, API and European IPPC / BREF regulations. For more information regarding HMT's long line of innovative solutions to the global market, and for details of your local HMT Office, please visit us at www.hmttank.com.

About Berkshire Partners

Berkshire Partners has invested in mid-sized private companies for more than 20 years through seven investment funds with aggregate capital commitments of approximately $6.5 billion. Berkshire seeks companies with acquisition values between $200 million and $2.0 billion and in a given transaction makes equity investments of approximately $50 million to $500 million. Berkshire has developed specific industry experience in several areas, including business services, manufacturing, retailing, consumer products, transportation and communications. The firm's transactions have included acquisitions, growth equity investments, and turnarounds. Over the past two decades, Berkshire has been an investor in over 90 operating companies with more than $15 billion of acquisition value and combined revenues in excess of $20 billion. For additional information, visit www.berkshirepartners.com.

About Nassau Point Investors

Nassau Point Investors, founded in 1999, is a private equity firm based in Greenwich, Conn. The firm targets investments in middle market companies and applies its operating expertise to grow acquired businesses in partnership with management. For additional information: [e-mail] or [phone].