news & EVENTS

Inverness Capital Partners, Wedbush Capital Partners and founding management complete
acquisition of ExtruMed

Sept.12, 2005

Newtown Square, PA — Inverness Capital Partners is pleased to announce the acquisition of ExtruMed (“ExtruMed” or the “Company”), a Southern California-based company that designs, manufactures and markets custom single and multi-lumen tubing for a variety of implantable and minimally invasive medical devices and surgical procedures. Inverness Capital partnered with Wedbush Capital Partners, and founding management in the transaction. Fifth Street Capital provided debt financing. Details of the transaction were not disclosed.

Inverness partner Scott Kehoe explained, “ExtruMed’s superior design and materials science capabilities in a variety of plastics, coupled with its outstanding reputation for consistently producing high quality, complex tubing, has enabled the Company to develop long-term customer relationships with leading medical device manufacturers focused on implantable and minimally invasive surgical applications. These strengths will help the Company continue to grow as both new and existing customers develop next-generation devices to support these rapidly growing markets.” Inverness Capital, Wedbush Capital and the founding management will invest to build upon the excellent design, manufacturing and quality capabilities of the Company.

Company founder, Vraj Lathiya discussed the investment, “We are excited to be partnering with Inverness Capital and Wedbush Capital. Together, we are investing for growth to further build out our capabilities and infrastructure so that we can continue to exceed our customers’ expectations for delivering world-class tubing while also providing additional value-added services. This investment will allow us to expand upon our capabilities and take advantage of the significant growth opportunities that exist for providing single and multi-lumen tubing to key industry leaders in the implantable and minimally invasive medical device markets.”

About Inverness Capital Partners
Inverness Capital Partners is a $125M private equity fund based in suburban Philadelphia that acquires or provides expansion capital to innovative industrial businesses and industrial technology providers. The fund is an investment affiliate of the privately held Graham Group of industrial and investment businesses. Inverness has also entered into strategic relationships with Air Products and Chemicals (NYSE: APD) and Bekaert (Brussels: BEKB) to invest in industrial businesses of mutual interest. For more information, please contact Michael Morrissey at 610-722-0300 or visit www.invernesscap.com.

About Wedbush Capital Partners
Wedbush Capital Partners is a Los Angeles-based private equity firm that specializes in making $2 to $7 million equity investments in profitable, growing companies with revenues ranging from $10 million to $50 million. Since 1980, the firm and its professionals have invested in more than 75 companies in industries including consumer products and services, business and financial services and niche manufacturing. Wedbush Capital will invest in transactions that include growth investments, recapitalizations and management-led buyouts. Wedbush Capital is an affiliate of Wedbush Morgan Securities, a leading NYSE investment bank with offices across the western United States. For more information, please contact Peter Shoemaker at 213-688-8093 or visit www.wedbushcapital.com.

About Fifth Street Capital
Fifth Street Capital LLC is a private investment firm focused on providing mezzanine debt investments of $3-$20 million in small-cap U.S. companies across a broad range of industries. The firm provides capital to support expansions, acquisitions, management buyouts, and recapitalizations. Fifth Street seeks to work actively with its management teams and equity sponsors to grow the value of its portfolio companies. For more information, please contact Robert Kiesel at 914-328-4200 or visit www.fifthstreetcap.com.

Contact:

ExtruMed
Bill Ellerkamp
Tel (714) 993-4100
e-mail: bellerkamp@extrumed.com
Source: ExtruMed