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Promus Equity Partners Announces the Acquisition of Auto Meter Enterprises, Inc.

Promus Equity Partners Announces the Acquisition of Auto Meter Enterprises, Inc.

Chicago, Illinois, May 31, 2013 – Promus Equity Partners, LLC (“Promus”) is pleased to announce the acquisition of Auto Meter Enterprises, Inc., and its subsidiaries including Auto Meter Products, Inc. (collectively, “Auto Meter”) of Sycamore, Illinois.

Auto Meter has established itself as the world’s leading developer and manufacturer of branded performance gauges, display products and ruggedized data recorders for the specialty automotive aftermarket end-market. Within this segment, Auto Meter is a “must carry” product with the highest level of brand name recognition in the industry. In addition, the company is a rapidly growing developer and manufacturer of professional-grade electrical system diagnostic and maintenance equipment used by automotive technicians.

Jeff King, Auto Meter’s President and CEO, said, “Since the beginning, Auto Meter has provided first-to-market solutions for a diverse group of automotive professionals and enthusiasts. Our leading technology resonates with our customers and builds brand loyalty.”

Steve Brown, a partner at Promus said, “The combination of strong engineering capabilities, leading brand name and deep, diverse customer relationships makes Auto Meter a very attractive business. Jeff has built a very talented team that operates at the forefront of the industry. We look forward to partnering with this team to grow the company, both organically and through strategic acquisitions.”

Avante Mezzanine Partners provided mezzanine debt and participated in the equity investment and Cole Taylor provided a senior credit facility. Terms of the investment were not disclosed.

For more information on this acquisition, please contact Steve Brown, Sarah Wuellner, or David Code.

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