WHI Capital Partners Acquires Metal Solutions Fabricator Carpenter Special Products Corporation; Renames Company Veridiam, Inc.

CHICAGO, Nov. 29 /PRNewswire/ -- WHI Capital Partners, a Chicago-based private equity firm targeting investments in the smaller end of the middle market, is pleased to announce its acquisition of Carpenter Special Products Corporation, a leading integrated manufacturer of precision engineered metal components and assemblies. As a stand-alone company, the company will be renamed Veridiam, Inc. and will continue to focus on its core nuclear power generation, aerospace and medical device businesses. Veridiam employs approximately 120 people at its 170,000 sq. ft. facility just outside of San Diego.

For more than five decades, Carpenter Special Products Corporation has developed its unique metals engineering and manufacturing capabilities by leveraging a highly skilled workforce to create product solutions spanning a wide range of industries and applications. Some of its current products include tubular component assemblies, cold rolled and cold drawn alloy products, nuclear reactor tubing and fuel channel assemblies.

"Veridiam provides a unique and highly valuable solution for an impressive list of long-term customers. Their rich history, reputation and ability to offer superior design and engineering talent coupled with state-of-the-art manufacturing capabilities make them exceptionally well positioned for significant expansion," said Eric Cohen, Managing Partner, WHI Capital Partners. "We are excited about partnering with Veridiam's management team to pursue the numerous opportunities to drive both operational improvement and top line growth."

In connection with the sale, an agreement was executed whereby Veridiam will continue its strong supply relationship with its former parent, Carpenter Technology Corporation , to ensure access to certain of Carpenter Technology's proprietary alloys. In addition, Veridiam and Carpenter Technology have formed a joint development effort in order to continue leveraging each company's strengths and advantages in the marketplace.

Veridiam partners with R&D and design engineers to address specific manufacturing and design needs from material selection through finished components. As a result, Veridiam has developed particular expertise to help its customers develop prototypes and provide finished products that readily transition to full-scale production. Its products are used in critical applications across an array of industries including medical device, aerospace, automotive, and nuclear power generation.

Neal Nordstrom, Veridiam's CEO added, "The partnership with WHI Capital Partners will provide the capital, operational and business development expertise necessary to help us better respond to the expanding need for precision engineered components among our aerospace and medical device manufacturing customers."

About WHI Capital Partners

WHI Capital Partners is a private equity firm that invests in profitable, mid-size companies with leading market positions and revenues of $10 - 100 million. WHI principals have significant experience and demonstrated success - not only as owners and managers of closely-held businesses, but also as investors in and advisors to middle market companies. Backed by the financial strength of its parent firm William Harris Investors, WHI Capital Partners has ample resources and the financial strength to help a company capitalize on its opportunities over the long-haul.

For more information, visit http://www.whicapital.com/ or contact Eric Cohen at (312) 604-7901 or ecohen@whicapital.com .