8 January 2008

BDA co-advises Segulah on the sale of Kosan Crisplant to United International Bank, Bahrain

Segullah LL, LP has divested Kosan Crisplant to Seera (formerly UIB)


Business Development Asia LLC (“BDA”) is pleased to report that Bahrain-based United International Bank BSC (“UIB”) announced the successful completion of the purchase of Kosan Crisplant Holding A/S from Swedish-based Segulah II, LP (“Segulah”).

Headquartered in Aarhus, Denmark, Kosan Crisplant is a global leader in providing systems and solutions for the filling and reconditioning of liquefied petroleum gas (“LPG”) cylinders. Leveraging its world class engineering and project management skills, the company serves an international customer base of LPG distributors. Since its founding in 1951, the company has supplied systems to over 2,400 LPG distributors throughout 120 countries around the world. As of 31 December 2007, Kosan Crisplant employed 270 people worldwide.

Anders C Anderson, Managing Director/CEO of Kosan Crisplant, who has served the company since 1989, noted: “With Segulah as owners, we have been able to develop the company significantly by expanding the geographic footprint to now eleven locations worldwide. In addition, we initiated sourcing and assembly operations in cost-effective locations, launched several new product offerings and commenced a successful facility management concept. The cooperation has been excellent and Segulah has been very supportive in the execution of our growth strategy. UIB, headquartered in Bahrain, will provide us the opportunity to leverage their strong network in the Middle East region – one of our key markets – and we look forward to continuing Kosan Crisplant’s development and believe that UIB will be able to take our group to the next level.”

Stated Sebastian Ehrnrooth, Partner at Segulah, “Kosan Crisplant’s development over the past three years has been extraordinary, thanks to the contribution of management and employees. We are very pleased with the growth of the business and think that UIB, as new owners, will greatly enhance Kosan Crisplant’s ability to penetrate some of the world’s most interesting LPG markets.”

Commenting on the transaction, Abdulla Janahi, Chief Executive Officer of UIB said, “We are pleased to complete this transaction in a timely manner and to take ownership of such a well-regarded global company. The passion and dedication of the employees combined with the senior management team’s leadership abilities and extensive experience underscore our belief that we can continue Kosan Crisplant’s tradition of providing innovative products and outstanding services to its customers, as well as enhance the company’s position as the global market leader. Kosan Crisplant has tremendous long-term growth potential and we look forward to partnering with management to create value in the years ahead.”

Business Development Asia worked alongside its strategic partner Danske Markets Corporate Finance, the exclusive advisor to Segulah. BDA identified the financial buyer and provided active regional execution support through its local investment banking operations, currently based in Bahrain. Business Development Asia and Danske Markets Corporate Finance are fellow members of Close Brothers International.

About UIB

Headquartered in the Kingdom of Bahrain, United International Bank BSC (UIB) is an investment bank licensed and regulated by the Central Bank of Bahrain with an authorized share capital of US$2.5bn and a paid-up capital of US$291m. The Bank commenced operations in 2006 and provides investment banking products and services in strict adherence to Islamic rules and principles. For further information on UIB, please visit www.uib.bh

About Segulah

Founded in 1994, Segulah is a private equity partnership focused on lower mid-market buyouts in the Nordic region, with a business model of active ownership through its extensive network of industrial advisors. Segulah Advisor AB is the exclusive investment advisor to the Segulah II (MSEK 850), Segulah III (MSEK 2,350) and Segulah IV (MSEK 5,000) UK Limited Partnerships. For further information on Segulah, please visit www.segulah.se

About Close Brothers International

Close Brothers International is an affiliate network of independent corporate finance houses in all major financial centres around the world, with 36 offices in 20 countries employing over 450 professionals. It offers independent corporate finance advice in: mergers and acquisitions; special situations (including corporate restructuring,) debt advice and advice to financial sponsors. Business Development Asia LLC is the Close Brothers International member for the Middle East and Asia, and Danske Markets Corporate Finance is the member for the Nordic region.

About BDA

Business Development Asia LLC was founded in 1996. BDA assists multinational corporate and financial sector clients to identify and execute acquisitions, divestments, JVs, restructuring and capital raising, in Asia and internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 55 full-time professional staff across its eight offices, supplemented by a team of senior advisors around the world. BDA’s client list includes Air Products, Apar Industries, Cadbury Schweppes, Celestica, DIC, Dow Chemical, DuPont, Ecolab, Global Power, Godrej, Great Lakes, Hanjin Shipping, Hercules, Huntsman, Inabata, Johnson Controls, Kimberly-Clark, Lear, Lubrizol, Mars, Molex, Morgan Stanley, Nalco, Reuters, Rohm & Haas, Ryder, Siemens, SigmaKalon, Sumitomo Chemical, Sun Chemical, TATA Auto Components, Tenneco, Tredegar, Visteon, WR Grace, and the British Government. Further information on BDA is available at www.bdapartners.com.

BDA Transaction Team

Andrew Huntley, Managing Director, London, ahuntley@bdallc.com

Tamer Makary, Head of Middle East Office, Bahrain, tmakary@bdallc.com

Omar Al-Alami, Analyst, Bahrain, oalami@bdallc.com

For more information regarding this transaction, please contact Tamer Makary in Bahrain on (973) 1756 7914 or Andrew Huntley in London on (44) 20 7655 3500.