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to create long-term value

September 2, 2008
Altus Capital Partners acquires the D.S. Brown Company, the leading manufacturer of specialty components for bridges, highways and airfield pavement structures, to take advantage of opportunities to revitalize public infrastructure

Altus Capital Partners acquires the D.S. Brown Company, the leading manufacturer of specialty components for bridges, highways and airfield pavement structures, to take advantage of opportunities to revitalize public infrastructure

Westport, CT, September 2, 2008 – Altus Capital Partners, a leading investment firm focused on middle market manufacturing companies in the U.S., today announced that it has acquiredThe D. S. Brown Company, the nation’s leading manufacturer of specialty components for bridges, highways, and airfield pavement structures. Terms of the transaction, which was made with its co-equity investors and company management, were not disclosed.

Headquartered in North Baltimore, Ohio, D. S. Brown conducts business throughout North America, Asia and the Middle East. D .S. Brown is a leading supplier on major infrastructure revitalization projects in the U.S., including the San Francisco Oakland Bay Bridge, Tacoma Narrows Bridge, Carquinez Bridge in the San Francisco Bay area and the recently secured I-90 Homer Hadley Memorial floating bridge in Seattle, which utilizes the company’s proprietary Maurer Swivel Joint system.

Kirk Feuerbach, D. S. Brown’s President and CEO, said, “We are extremely excited about the opportunity of working with Altus Capital Partners to create additional value through continued organic growth and acquisitions. The company and its employees have worked extremely hard to become the industry’s most respected name. Combining that with our new partnership with Altus will allow us to further enhance our reputation, products and value to our customers, employees and shareholders. We are looking forward to a rewarding relationship.”

Over its 118 years of continuous operation, Mr. Feuerbach noted that D. S. Brown has developed superior brand recognition along with the best reputation in the transportation infrastructure industry. He added, “In addition to being recognized for providing high-quality components for new construction and rehabilitation projects, D. S. Brown is also proud of its unparalleled reputation for meeting customers’ critical path delivery schedules in this environment of fast track construction.”

Greg Greenberg, Senior Partner of Altus and D.S. Brown’s new Chairman, commented, “Altus is pleased to partner with the D.S. Brown management team in acquiring the nation’s leading manufacturer of specialty components for road and bridge infrastructure. D.S. Brown has a long tradition of manufacturing and delivering superior value through highly engineered niche products that exceed customer expectations. We recognize and value management’s depth of capabilities, which has earned D.S. Brown its industry leadership position. We look forward to working with and supporting management to expand upon this legacy.”

Mr. Greenberg noted that D.S. Brown has the industry’s broadest line of expansion joint and structural bearing products with solutions suitable for every type of bridge system. “Given the condition of our nation’s aging infrastructure, D.S. Brown is well positioned for growth,” he added. “Over 80% of the company’s business is driven by rehabilitation and refurbishment of existing infrastructure in the U.S. Current growth looks to continue as the country’s infrastructure in general and the Interstate Highway system specifically continues to age and deteriorate over time. At the same time, the D.S. Brown management team will continue to pursue international growth opportunities in key markets in Asia including China, Taiwan and South Korea as well as the Middle East that are investing heavily in infrastructure to meet the needs of the global economy.”

About The D.S. Brown Company 
Founded in 1890, The D.S. Brown Company is a leading worldwide designer, supplier and manufacturer of engineered products for the bridge and highway industry. D.S. Brown’s home office and manufacturing facilities are located in North Baltimore, Ohio. D.S. Brown is fully integrated, performing and controlling all manufacturing processes internally, including Research and Development; Engineering Design/CAD Detailing; Extruding, Molding, and Testing; and Custom Steel Fabrication and Machining.

About Altus Capital Partners
Based in Westport, CT, Altus Capital Partners invests alongside management in profitable small to medium-sized manufacturing companies to help seize their current growth opportunities and solve succession challenges. With over 50 years of combined structured finance experience, Altus’ investment partners utilize their extensive knowledge to optimize the value of a company through structured buyouts, recapitalizations, consolidations and divestitures.

Greg Miller
Marketcom PR