CGP Portfolio Company Airpax Completes Acquisition of Joint Venture.

CompanyeIUs Acquisition of Sanken-Airpax Strengthens Its Position in the Japanese Market

CHICAGO -- Chicago Growth Partners LLP ("CGP") today announced that Airpax Corporation, a CGP portfolio company and leading worldwide manufacturer of protection, sensing and control components, modules and systems, today closed a transaction with its Japanese partner, Sanken Electric Co., Ltd., for the redemption of the lattereIUs shares corresponding to 50% ownership of their joint venture, Sanken-Airpax. Under the terms of the agreement, Airpax is now the sole owner of Sanken-Airpax, which will be renamed Nihon Airpax Co., Ltd. Financing for the transaction was led by Chicago Growth Partners with co-investors Norwest Equity Partners and Airpax management also contributing. Senior debt financing for the transaction was led by GE Antares.

Sanken-Airpax was established in 1968 by Sanken Electric and Airpax to manufacture hydraulic magnetic circuit protectors in Japan. Today Sanken-Airpax is a leading Japanese manufacturer of circuit breakers for equipment protection. Its products can be found in a variety of applications including power supplies, automotive applications, industrial equipment, photovoltaic and fuel cell power systems, telecom, factory automation, heavy construction equipment and agricultural equipment, computer applications, medical equipment, and railway systems. Airpax and Sanken-Airpax currently participate in many complementary markets and Airpax has identified numerous synergistic opportunities with other Airpax business units, including Airpax Power Protection Products, Airpax Sensors and Control Systems and Airpax Dimensions, which can be fully developed through Airpax CorporationseIU extensive global organization.

"We are very excited about the numerous synergistic opportunities Sanken-Airpax brings to Airpax," said CGP Partner Rob Healy. "The addition of Sanken AirpaxeIUs high-quality line of products is another significant step taken by Airpax towards its goal of becoming the pre-eminent global supplier of electronic components and systems for protection, sensing, and control applications."

"Chicago Growth Partners continues to be a supportive and value-added partner for Airpax," stated Airpax President and CEO, Dennis Karr. "That support has been a crucial component in enabling company management to continue to realize the full potential of the Airpax organization."

Mr. Tomokazu Takahashi, formerly Vice President and Representative Director in the joint venture, has been named President and Representative Director of Nihon Airpax. Mr. Takahashi will report to Dennis Karr.

Sanken-Airpax is AirpaxeIUs third completed acquisition since the company was purchased by CGP, Norwest and Airpax management in 2004.

About Chicago Growth Partners

CGP is a Chicago-based private equity investment firm committed both to its investments and its investors in the lower middle market. The firm targets three primary sectors: business and consumer services, healthcare and industrial growth. CGPeIUs Partners have specialized in these industry sectors for more than 20 years and their combined experience in each of these areas totals 100-plus years. CGP distinguishes itself through its experienced team eI including in-house marketing, information technology and operations expertise; its approach to the development and execution of strategies designed to build success; its focus on growth as the primary driver of returns and its commitment to partnering with portfolio companies that demonstrate strong management capability and opportunity. CGP moves beyond the delivery of growth capital by lending significant industry experience, knowledge and leadership to each business situation. CGP currently manages $1.2 billion of committed capital while investing Chicago Growth Partners VIII, a fund raised in Spring 2006. For more information, please visit www.cgp.com.

About Norwest Equity Partners

Located in Minneapolis, MN, NEP focuses on providing equity solutions to middle market companies through management buyouts, recapitalizations, industry consolidations and growth capital. Since its founding in 1961 and with $3 billion in capital under management, NEP has earned a reputation as one of the premier private equity investment firms and is currently investing NEP VIII, an $800 million partnership formed in September 2004. For more information, please visit www.nep.com.

About Airpax Corporation

Airpax Corporation is a privately held company with headquarters in Cambridge, MD and facilities in Frederick, MD; Oviedo, FL; Brownsville, TX; White Bear Lake, MN; Matamoros, Mexico; Shanghai, China; and Sakado, Japan. Airpax Corporation consists of four operating units: Airpax Power Protection Products, Airpax Sensors and Control Systems, Airpax Dimensions; and Nihon Airpax. The Airpax product line includes hydraulic-magnetic and thermal circuit breakers, power inverters, semiconductor fuses, thermostats, temperature and speed sensors and E-Plex, a multiplexed monitoring and control system. A world leader in the markets it serves, Airpax is committed to making continuous improvement in every product and service it offers, and to providing world-class customer service. For more information about Airpax, including a complete list of worldwide representatives, contact Airpax Corporation at 1.301.663.5141, fax [phone] or visit the companyeIUs website at www.airpax.net.