Kirtland Capital Partners Enters into Agreement to Sell Essex Crane Rental

March 6, 2008
Cleveland, Ohio – Middle-market private equity firm Kirtland Capital Partners (Kirtland) announced today that it has entered into an agreement to sell Essex Crane Rental Corp. (Essex) to Hyde Park Acquisition Corp. (Hyde Park) for $210 million. Kirtland acquired Essex in May of 2000.

The closing of the transaction is subject to approval of the stockholders of Hyde Park and is expected to close in the fourth quarter of 2008. Essex, with more than 400 cranes and attachments in its fleet, is the world's largest provider of Manitowoc lattice-boom crawler cranes and attachments. Essex supplies cranes for construction projects related to power generation, petro-chemical, refineries, water treatment and purification, bridges, highways, hospitals, shipbuilding and commercial construction.

Following the purchase, New York-based Hyde Park, a special purpose acquisition company, will change its name to Essex Crane Rental Corp. and seek a Nasdaq listing. The Essex management team is expected to remain in place with Ron Schad continuing as chief executive officer.

About Kirtland Capital Partners
Kirtland Capital Partners is a relationship-oriented private equity firm focused on accelerating the growth of middle-market companies by leveraging its internal operating, financial and strategic resources. For more than 30 years, Kirtland has executed a disciplined investment strategy that has created long-term value in its portfolio companies and delivered superior returns to its investors and management teams. Kirtland invests in niche manufacturing, distribution and business service companies with potential for growth organically and/or through strategic acquisition. The firm has $293 million of capital under management from institutional and individual investors. Kirtland is known for the strong partnerships it builds with its operating management teams and the experience of its professionals. More information is available at www.kirtlandcapital.com.

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