Clearview Capital, LLC

Clearview Capital Acquires Hettinger Welding, Inc.
October 25, 2006

Clearview Capital, LLC of Old Greenwich, CT has completed the recapitalization of Hettinger Welding, Inc. , a leading provider of welding and facilities construction services for customers building natural gas infrastructure in the Rocky Mountain region. The transaction closed on October 16, 2006 .

The current management of Hettinger Welding will retain day-to-day management control and have operational autonomy while maintaining a substantial equity stake in the recapitalized entity.

Based in Gillette , Wyoming , Hettinger constructs and maintains pipelines, compressor stations and other gas processing facilities for blue-chip customers. Natural gas exploration and production in the Rockies is growing faster than in any other region of the U.S.

“Hettinger Welding is perfectly positioned to capitalize on the rapid development of coal bed methane and more traditional deep gas deposits in the Rocky Mountain region,” said James G. Andersen, co-managing partner of Clearview Capital. “Their reputation and ability to complete complex projects on budget and on time have allowed the company to grow very rapidly.”

Founded in 1980, Hettinger has built strong customer relationships and a reputation for consistently meeting customers’ needs for timely, on-budget project completion. In addition, the Company has the skilled labor and equipment to manage large or multi-stage projects and is typically one of only a few companies considered for complex or time-sensitive projects.

“Clearview not only priced the transaction competitively, but the Clearview team clearly demonstrated its intention to allow us (the management team) to run the company as we have historically,” said owner Mark Hettinger. “We believe Clearview's expertise in developing financial and operational infrastructure—and its capability to support us with needed capital—will be a great help to Hettinger as we continue to expand our pipelining and construction operations.”

“We believe Clearview’s prior success and experience with rapid growth companies combined with Hettinger’s operational capabilities will allow the company to continue to provide its customers with exceptional service even as the company increases in scale,” said Calvin Neider, co-managing partner of Clearview.

Clearview's other holdings include Twinco Romax, a vertically integrated manufacturer and distributor of automotive fluids sold through retail channels; Senior Care Centers of America, an operator of adult day care centers; M.H. Zeigler & Sons, the country's leading manufacturer of refrigerated apple cider; Hillsdale Furniture, a designer and importer of wood and metal furniture; and a minority interest in Compression Polymers Group, the leading extruder of thick gauge polyolefin and PVC sheet, including AZEK® brand trimboards.