Kirtland Capital Partners Announces the Acquisition of Microgroup, Inc.

August, 2005
Beachwood, Ohio – Kirtland Capital Partners, a leading private equity firm in the Midwest, announces its acquisition of MicroGroup, Inc. (“MicroGroup”). MicroGroup, based in Medway, Massachusetts, is a leading supplier of metal tubing and precision manufactured components primarily for the medical device and analytical instrument markets. Terms of the transaction were not disclosed.

MicroGroup provides best-in-class rapid turnaround on its interrelated suite of products and services positioning it as a one-stop shop for prototypes, short run and production assemblies. The company sells its products to leading medical device and analytical instrument companies throughout the United States. MicroGroup has a 25-year track record of double-digit revenue and earnings growth.

“We are very excited to partner with MicroGroup and its strong management team,” said Tom Littman, managing partner of Kirtland Capital Partners. “The company is an established leader in the distribution of specialty tubing and the production of precision components to medical device and analytical instrument companies. We anticipate numerous opportunities for continued growth by expanding its product offering, opening new sales channels, and through add-on acquisitions.”

Bill Hulbig, MicroGroup’s founder, said, “We are very proud of the success MicroGroup has achieved and look forward to MicroGroup’s new relationship with Kirtland Capital Partners.”

Kirtland Capital Partners is a leading Cleveland-based private equity firm focused on control equity investments in middle market niche manufacturing, distribution and business-to-business service companies. During its 28-year history, Kirtland has generated significant value from its 47 investments through a consistent investment strategy and active involvement in portfolio management. Kirtland has more than $400 million of capital under management from an investor group that includes both institutional and individual investors.

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