Summary of Recent Merger and Acquisition Transactions


Century Business Equipment, Inc. - a full service distributor of office equipment and supplies. HPLP successfully closed the sale of CBE's stock to a private investor realizing an enterprise value of one times revenue.

EFT Systems, L.P. - a manufacturer and distributor of thermoplastic and field attachable electrical connectors and feed thru penetrator systems to wellhead adapter and submersible pump manufacturers. HPLP successfully closed the sale of EFT's assets at a multiple of 4.85 times trailing twelve months cash flow, which approximated one times revenues.

Easi Document Integration, L.P. - a professional services firm with operations in document management, delivery and outsourcing. HPLP assisted the Company in valuing and structuring a merger with a regional corporate transportation firm.

The Marker-Hoff Group, Inc. - a professional services firm with operations in the litigation support, document management and court reporting sectors. HPLP assisted the Company in valuing and structuring a merger with a regional court-reporting firm.

Media Printing Corporation - a high-end graphic arts and commercial printing company that specializes in the production of four, five and six color newsletters, brochures, bill inserts, catalogs, calendars, maps and other marketing materials. HPLP successfully closed the sale of MPC's stock at a multiple of 6.15 times projected cash flow, which approximated 75% of revenues.

Miller Livestock Markets, Inc. – a Louisiana-based livestock and cattle auction and consignment sales company and equipment provider to the independent livestock producer. HPLP assisted the Company with an ownership restructuring.

Montgomery Machine Company - a regional machining, boring and fabrication firm servicing the energy services sector. HPLP valued the Company and assisted management in structuring a management buyout.

SEI Heat Treat, L.P. - a regional metal processing facility providing heat treat and annealing services for industrial and commercial clients. HPLP negotiated the sale of the partnership interests at a multiple of 6.10 times cash flow, which approximated one-time revenues.

Sterling Affiliates, Inc. - a fabricator of telecommunication and utility towers. HPLP successfully closed the sale of the Company's assets, which was part of their court-approved plan of liquidation in bankruptcy.

Tri-Coastal Legal Technologies, Inc. - a provider of high-end trial exhibits and demonstratives utilized in the legal, regulatory and commercial market. HPLP successfully closed the sale of the Company at a multiple of 5.35 times cash flow which approximated 2.3 times revenues.

Tubular Technology, Inc. - a provider of rig-site tubular running, technical field and well completion services throughout the Gulf Coast region. HPLP successfully closed the sale of TTI's assets at a multiple of 3.85 times cash flow, which exceeded 1.75 times revenues.

X-Ray Inspection Services, Inc. - a highly regarded provider of non-destructive testing services to the energy, paper and utility industry throughout the Gulf Coast region. HPLP successfully closed the sale of XRI's stock at a multiple of 4.75 times cash flow, which exceeded 1.35 times revenues.