Aug. 21, 2006 — Goldsmith Agio Helms announced the sale of its client, Greenville Tube Co. to RathGibson Inc., a portfolio company of Castle Harlan, Inc.

Greenville Tube, which manufactures stainless-steel tubing for a broad range of applications, has more than 50 years of experience in manufacturing high precision tubing. Its customers value the company's ability to provide high-quality drawn tubing in odd sizes, odd lots, and non-traditional grades, and deliver orders with short lead times. Over the past several years, the company has developed both welded and welded-and-drawn tube production capabilities that have enhanced its growth prospects.

RathGibson was selected as the buyer in large part because of the strategic fit between Greenville Tube and RathGibson, Inc., which Castle Harlan acquired in February 2006. "The customer focus philosophy of Greenville is in line with the historic approach at RathGibson," said Harley Kaplan, CEO of RathGibson. "The product capabilities in the Clarksville facility are an excellent fit and will enhance service to our domestic customers as well as fuel the international growth already underway at RathGibson."

"Greenville Tube has made excellent progress in the marketplace since our investment in the company in 2003 and is poised for continued growth." said Steve Broun, Senior Vice President of Capital for Business. "We feel the company and its employees will be in good hands under the ownership of Castle Harlan and RathGibson." Craig Korte, a vice president at Goldsmith Agio Helms who worked on the transaction, noted "Greenville Tube's strong business model and specialized manufacturing capabilities should benefit from the increased scale and resources that RathGibson provides."

Stephen J. Miles, a managing director of Goldsmith Agio Helms, commented, "The acquisition of Greenville Tube is another example of Goldsmith Agio Helms' strong presence in the industrials market where we have completed more than 200 M&A transactions. This transaction represents our 30th completed deal in 2006."

Founded in 1950, Greenville Tube manufactures stainless steel tubing for a broad range of applications. Specializing in sizes ranging from 1/8- to 13/8-inch outside diameter, Greenville has more than 50 years of experience in manufacturing high precision tubing. Throughout its history, the company has focused on serving non-commodity niche tubing markets by providing high quality stainless-steel tubing in odd sizes, odd lots, and non-traditional grades, and delivering orders with short lead times. Greenville Tube was owned by its management, Capital for Business, and a consortium of private equity firms including Hickory Venture Group, Diamond State Ventures, Alpha Capital Partners and Mid States Capital.

Castle Harlan invests in controlling interests in the buyout and development of middle-market companies in North America and Europe. Its team of 19 investment professionals has completed 45 acquisitions since its inception with a total value in excess of $8.7 billion. The firm traces its roots to the start of the institutionalized private-equity business in the late 1960s. Castle Harlan's owned companies, which employ more than 42,000 people, include Ames True Temper, a leading manufacturer of lawn and garden tools and accessories; Polypipe Group, a leading manufacturer and supplier of plastic pipe systems in the U.K. and Ireland; and Baker & Taylor, a leading domestic and international distributor of books and entertainment products to libraries and retailers.

RathGibson, Inc. is a leading manufacturer of highly engineered premium stainless steel and alloy welded tubing products. Headquartered in Janesville, Wis., RathGibson also has operations in North Branch, N.J., and sales offices in Houston and Shanghai China. RathGibson makes a variety of straight and coiled welded tubing products and has a leading share in a number of niche markets.

Goldsmith Agio Helms is one of the nation's leading independent investment banking firms providing sophisticated corporate finance advisory services to middle-market businesses. The firm's services include mergers and acquisitions, private placements of debt and equity, distressed advisory and restructuring, and financial advisory and opinion services. The firm operates internationally from its offices in Minneapolis, New York, Chicago, Los Angeles, and London.