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Paladin Brands Holding, Inc. to be acquired by KPS Capital Partners

CEDAR RAPIDS, Iowa (Sept. 7, 2011) – Paladin Brands Holding, Inc. ("Paladin") today announced that KPS Capital Partners, LP ("KPS"), through a newly formed holding company, International Equipment Solutions, Inc. ("IES"), has entered into a definitive agreement to acquire Paladin and Crenlo LLC ("Crenlo") from Dover Corporation (NYSE: DOV). Financial terms of the transaction were not disclosed.

Paladin is the leading independent North American provider of engineered attachment tools for operator-driven equipment serving a wide range of markets. Paladin operates four business units, each focused on specific markets and products. Paladin Construction Group serves the construction, landscaping, agriculture and aviation markets under industry leading brands, including Bradco®, McMillen®, FFC®, Sweepster®, Harley®, JRB®, C&P® and CustomWorks®. Paladin Demolition and Recycling, through its Genesis® brand, serves the demolition and metal recycling markets. Paladin Utility, through its Pengo® brand, provides augers and related tools for the utility and foundation drilling markets.　 Paladin Custom Material Handling, through its Jewell® brand, provides custom excavator packages for the demolition, forestry and material handling markets.

Crenlo is a leading North American provider of steel cabs and roll-over protective structures (ROPS) and electronics enclosures for customers serving a wide range of markets. In the operator interface cab segment, Crenlo serves world class OEM customers in the construction, mining, agriculture and specialty truck markets. Crenlo, through its Emcor® brand, provides standard catalog and custom products for customers serving the technology, aerospace, government and energy markets.

David Burdakin, President of Paladin, said, "Our entire team at Paladin is pleased to move forward under KPS and excited about their commitment to manufacturing excellence and to supporting our future growth. We will remain focused on providing our customers with industry leading products and unsurpassed service."

Raquel Palmer, a KPS Partner, said, "We are very excited to create International Equipment Solutions. IES, by acquiring Paladin and Crenlo, launches as the premier international engineered equipment manufacturer, with an industry leading portfolio of brands and an exceptionally strong reputation for quality, durability, delivery, product support and product innovation. We intend to grow IES aggressively both organically and through acquisition in North America and globally. The combination of the company’s exceptional operational expertise and strong customer relationships, combined with financial resources provided by KPS, will facilitate IES’s global expansion, especially in China, India and South America."

The closing of the transaction is expected during the third quarter of 2011 and is subject to customary closing conditions. 

The NEW Foundation Tooling

Pengo Corporation is pleased to announce and introduce our new of foundation drilling tools. We have listened to the voice of you, our customer and developed a state of the art product line to increase your efficiencies and profits. We have engineered and manufactured all new tools for our single row, double row and spiral rock augers along with our dirt tools, core barrels and drilling/muck buckets. Our new designs cover all tools from 2-1/2 hubs to 200mm hubs. New pitches, new attack angles and new manufacturing processes will provide you with the latest technology available today to minimize your down hole time and increase your profitability

Pengo Holiday Schedule

Pengo offices will be closed on the following holidays:

Thanksgiving - Thursday, November 24, 2011
Day After Thanksgiving - Friday, November 25, 2011
Christmas Eve (observed) - Friday, December 23, 2011
Christmas (observed) - Monday, December 26, 2011
New Year's Eve (oberseved) - Friday, December 30, 2011
New Year's Day (observed) - Monday, January 2, 2012
Good Friday - Friday, April 6, 2012
Memorial Day - Monday, May 28, 2012
Independence Day - Wednesday, July 4, 2012
Labor Day - Monday, September 3, 2012
Thanksgiving - Thursday, November 22, 2012
Day After Thanksgiving - Friday, November 23, 2012
Christmas Eve - Monday, December 24, 2012
Christmas - Tuesday, December 25, 2012
New Year's Eve - Monday, December 31, 2012
New Year's Day - Tuesday, January 1, 2013

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