Trivest Acquires Aero Products International, Inc., Maker of the AeroBed

    MIAMI--June 12, 2001--Trivest, Inc., through its affiliated partnerships, today announced that it has acquired the assets of Aero Products International, Inc. ("Aero" or the "Company"). Aero, located in Wauconda, Illinois, is the recognized market leader in high quality, air-filled bedding products and maker of the popular AeroBed(TM). In addition to air-filled beds, Aero designs and markets a complete line of air-filled pools, furniture and other leisure products. The Company's products are sold through a diverse distribution network including retail, catalog, QVC, website and television commercials.
    Aero is a privately-held, branded consumer products company with sales of approximately $75 million. Since 1997, the Company has enjoyed a compound annual growth rate of 30%. Aero sells high quality, durable air-filled products under a variety of brand names including the AeroBed(TM), Deluxe AeroBed(TM), Minute Bed(R), Raised AeroBed(TM) and Family Quick Pool(TM). The Company's award-winning infomercial has driven retail growth with such customers as Bed Bath & Beyond, Linens N' Things, Sears, and Target. Product information is available through the Company's website at www.thinkaero.com.
    Kevin McColgan, Aero's CEO stated, "This transaction represents a critical step in our strategy to build our business with a proven financial partner. Trivest brings extensive consumer products experience with its ownership position of Directed Electronics, Inc., the leading designer and marketer of aftermarket automotive security alarms sold under the Viper(R) and Clifford(R) brand names, as well as its past ownership of Banana Boat skin care lotion company. With regard to Aero, we will continue our relentless product development efforts in order to continue the positive momentum we have enjoyed over the past several years."
    Troy D. Templeton, Trivest's Senior Managing Director said, "The acquisition of Aero is consistent with Trivest's investment philosophy. We strive to acquire world-class businesses with leading market shares, well-known brand names, and exceptional management teams. The Company's flagship Aero(R) brand name will provide an excellent platform to expand and enhance the breadth of Aero's product lines. In addition, we are pleased that Kevin McColgan will continue to lead the Company along with the current senior executive team. Kevin McColgan and other members of the senior management team are also significant investors in Aero."
    A bank group that included CIBC World Markets, Banque National de Paris, LaSalle Bank, Antares Capital Corporation and Indosuez Capital financed the transaction. Equity for the acquisition came from Trivest's recently closed Trivest Fund III, as well as certain other.
    Trivest is a Miami-based private investment firm and a leading provider of equity for middle market corporate acquisitions, recapitalizations, and growth capital financings. Since its founding in 1981, Trivest has sponsored more than 110 acquisitions and recapitalizations, totaling in excess of $2.0 billion in value. For additional information please visit www.trivest.com.