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Skyview Capital: Strategic Mergers and Acquisitions


Private Equity Consortium Complete the Purchase of Praxair’s Aviation Services Unit

Beverly Hills, CA.--July 26, 2006-- Skyview Capital, LLC announced today its participation in the successful completion of the acquisition of Praxair’s aviation services unit (the “Company”), from Praxair Surface Technologies. Skyview Capital assisted in the acquisition process and is a minority equity investor in the transaction. Gridiron Capital, LLC led the transaction and was the lead investor.

The Company now named PAS Technologies, Inc. repairs a variety of commercial and military aviation engine and airframe components, and applies protective coatings to the repaired parts. By using innovative and proprietary high-technology repair processes, along with repair solutions licensed from OEMs, the Company saves its customers from having to purchase costly replacement parts. The broad range of components serviced includes gas turbine engines, critical airframe parts, gates and seats used in oil fields and industrial components used in other high-wear, high-heat, and corrosive environments. The Company employs about 520 people and serves about 250 aviation customers worldwide. Under the agreement, the new Company will acquire operating facilities in North Kansas City, Missouri; Tulsa, Oklahoma; Miramar, Florida; Hillsboro, Ohio; Phoenix, Arizona; and Singapore.

Skyview Capital, LLC ( www.skyviewcapital.com ), a private investment firm headquartered in Beverly Hills, California, specializes in the acquisition and continuous management of "systems - critical" enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its extensive operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires.

Gridiron Capital, LLC, headquartered in New Canaan, Conn., is a private equity investment firm focused on investing in and growing manufacturing, service and specialty consumer companies. The firm's principals have a long and successful history of investing in and nurturing companies. The principals are successful private equity investors, business owners and operators. The Gridiron principals work closely with management teams to develop strategies for the portfolio companies and provide the necessary human and financial resources needed to execute business plans and build the company. More information on Gridiron is available on the Internet at www.gridironcapital.com.

Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2005 sales of $7.7 billion. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com .

 



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