Citi Capital Strategies Advises Stewart Manufacturing, Inc. on Its Acquisition by Stremel Manufacturing, LLC

Stewart Manufacturing, Inc., a precision machine supplier to aerospace & defense while maintaining a high competency in sheet metal fabrication, assembly and test, has been acquired by Stremel Manufacturing, LLC, a provider of sheet metal and machined parts to manufacturers in the United States and abroad. Citi Capital Strategies, a division of Citigroup Global Markets Inc. and a leading investment bank serving privately held businesses, served as the exclusive financial advisor to Stewart Manufacturing, Inc. The terms of the transaction were not disclosed. "We are pleased to team our client with a quality buyer that will help Stewart Manufacturing propel its leadership position and tier 1 supply status in the aerospace and defense industry,” said Greg A. Moore, Managing Director at Citi Capital Strategies. "Citi Capital Strategies’ deep understanding of the complex issues surrounding closely held companies, as well as our aerospace and defense industry expertise and our private equity relationships aided in completing this transaction.” "This acquisition further demonstrates our commitment to deliver on the Company’s strategy of focusing on our core aerospace and defense business and providing the best technology, precision machining solutions and support to our valued customers,” said Patrick H. Stewart, Sr., President of Stewart Manufacturing, Inc. Bill Spell, President of Spell Capital Partners, LLC, added that Stewart Manufacturing, Inc. will be an excellent addition to Stremel Manufacturing’s precision machining platform. Citi Capital Strategies is a leading investment bank dedicated to serving the needs of closely held and family owned businesses. Ranked as the Number One M&A advisor to private-company sellers in 2006 by Thomson Financial (based on number of U.S. transactions, up to $100 million deal value), Citi Capital Strategies specializes in mergers, acquisitions, recapitalizations, ESOPs, and capital solutions for private businesses. Citi Capital Strategies is a division of Citigroup Global Markets Inc. Member SIPC. For more information, visit our website at www.citigroupcapitalstrategies.com Stewart Manufacturing, Inc. is located in Phoenix, Arizona. Stremel Manufacturing, LLC, a portfolio company of Spell Capital Partners, LLC, is located in Minneapolis, Minnesota.