Nivel acquires Intercoastal Manufacturing Company



NEW YORK, May 11, 2006 - Sentinel Capital Partners is pleased to announce that its portfolio company, Nivel Parts and Manufacturing Co. has acquired Huntington Investment Corporation d/b/a Intercoastal Manufacturing Company or "IMC." Nivel is the leading designer and distributor of a broad range of aftermarket golf car replacement parts and accessories. IMC, a Beaverton, Oregon-based company, also designs and distributes golf car parts and accessories.

"The IMC acquisition is consistent with our strategy of expanding Nivel's geographic presence and part and accessory product offering," said Bill Bugg, CEO of Nivel. "In addition, with the IMC acquisition we look forward to providing even better service to our many valued West Coast customers."

IMC is Nivel's second add-on acquisition since Sentinel's initial investment. The first was the September 2005 acquisition of HT Electric, the leading distributor of aftermarket golf car engines and related products. "We are pleased to continue to help Nivel build on its leading position in this niche market," said Jim Coady, partner at Sentinel. "IMC is a natural fit with Nivel, expands our product offerings, and positions Nivel as a leader in geographic areas previously under penetrated." American Capital Strategies, a minority co-investor in Nivel, provided debt financing for the acquisition.

"This acquisition is representative of the vision we share with our talented management team at Nivel and our partners at American Capital," said John McCormack, Sentinel's co-founder and senior partner. "We are very pleased with the progress of this investment, and believe the new combined company will continue to benefit from a growing market for aftermarket parts on and off the golf course."

Other recent Sentinel investments include: MetroDentalcare, a leading regional dental clinic operator and provider of group dental care in the greater Minneapolis/St. Paul metropolitan area; Fasloc, Inc, a manufacturer of safety products used in coal mining applications; and Madill, Inc; a manufacturer of forestry equipment.