News

Detroit, MI - June 16, 2003 -- Huron Capital Partners LLC, a Michigan-based private equity firm, announced today that it has formed a partnership with veteran chemicals executives and investors, Frederick A. Quinn and Carol E. Bramson, to build a platform company in the specialty chemicals industry. Through their holding company, Quest Chemical Holdings LLC, the group plans to acquire companies that have developed unique solutions to the challenges of surface protection and the bonding of flexible and rigid substrates. These products include coatings, adhesives, polymers and thermoplastic films designed for a wide range of industrial markets.

According to Mike Beauregard, a Partner at Huron Capital, "Partnering with Fred and Carol is consistent with our investment strategy of working with successful executives who have proven track records of building equity value. Through Quest, we have brought together strong operating and investment expertise to create a substantial player in the specialty chemicals industry."

Fred Quinn, CEO of Quest, added, "Our plan is to grow revenues to $200 million over the next three years. There are significant opportunities in the specialty chemicals marketplace to solve logistics and product development challenges facing end-users by bringing together synergistic regional players. With the strong capital base provided by Huron, we are actively working with a number of well-positioned acquisition targets that would provide the foundation of our platform. Based on what we have seen thus far, we expect to be very busy in the coming months."

About Huron Capital Partners LLC
Huron Capital Partners invests in acquisitions, buyouts and recapitalizations of growing middle-market companies having revenues between $20 million and $100 million. Huron Capital's strategy is to partner with strong management teams in acquiring niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth. Visit Huron Capital's website at www.huroncapital.com for more information about the firm's investment criteria and portfolio.

About Frederick A. Quinn
Mr. Quinn is a 27-year veteran in the specialty chemical industry and has successfully built, acquired and divested businesses in the specialty chemical industry. He has served as CEO of K. J. Quinn, President of Pierce & Stevens (a subsidiary of Sovereign Specialty Chemicals), and CEO of Royal Adhesives & Sealants. Mr. Quinn is a Graduate of the University of Southern California where he received both his undergraduate and MBA degrees.

About Carol E. Bramson
Ms. Bramson's professional experience includes private equity investments in leveraged buyouts and advisory assignments to CEOs of growth oriented businesses. As a Partner at Banc One Equity Capital, Ms. Bramson led the firm's investment in, and subsequent sale of, Sovereign Specialty Chemicals. As the lead investor in Sovereign from 1996 to 1999, Ms. Bramson oversaw Sovereign's growth through acquisition and financings. As part of the growth phase, Sovereign acquired K. J. Quinn and recruited Mr. Quinn to a senior executive position at Sovereign. Ms. Bramson earned a Bachelor of Science degree in finance from DePaul University and an MBA with concentrations in finance and business policy from the University of Chicago.