Kirtland Capital Partners Announces the Acquisition of Bolt Bethel, LLC, and Bolt Blaine, LLC by a subsidiary of its Portfolio Company, MicroGroup Holding Company

September 14, 2006
Cleveland, Ohio – Kirtland Capital Partners announced today that its portfolio company, MicroGroup Holding Company (MicroGroup), has purchased Bolt Bethel, LLC and Bolt Blaine, LLC, (Bolt). Bolt is a manufacturer of precision metal components and assemblies for medical device, aerospace and defense products. It has two manufacturing facilities located in the greater Minneapolis area. Terms of the transaction were not disclosed.

“The Bolt acquisition will enable MicroGroup to expand its geographic reach, customer base, and manufacturing capabilities,” comments Charla Espinosa, MicroGroup’s COO. “Minnesota is a key market for medical device firms and the Bolt acquisition will give MicroGroup a stronger presence in this region.”

Acquired in August 2005, MicroGroup is a leading supplier of metal tubing and precision components primarily for medical device and analytical instrument customers.  “We are very pleased to add the precision manufacturing capabilities of Bolt,” said Robert Fines, Operating Partner of Kirtland Capital Partners.  “We are continuing to seek opportunities to enhance MicroGroup’s ability to meet the prototype and production needs of its growing customer base.”

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. Kirtland typically invests in platform businesses having revenue of $25 million to $250 million. During its 29-year history, Kirtland has generated strong returns 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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