North American Fund III Acquires UNIPOWER Corporation

CHICAGO, IL (March 16, 1999). North American Fund III announced today that it has acquired UNIPOWER Corporation of Coral Springs, Florida. Terms of the transaction were not announced.

UNIPOWER is a premier manufacturer of medium-to-high power switching power supplies for demanding computer, communications, office automation, industrial, and medical equipment applications. The company is known for its technological leadership, its high-reliability, high-quality products and its rapid and flexible response to customer needs. UNIPOWER currently services a diverse base of blue-chip customers worldwide from ISO 9001-certified facilities in Florida and the United Kingdom.

UNIPOWER intends to achieve significant growth through continued internal expansion and acquisitions in the fragmented power supply market. UNIPOWER’s founders, who will continue to manage the business, selected North American as their financial partner in funding the company’s future growth. North American is seeking acquisitions of any size to complement UNIPOWER.

North American Fund III is one of the North American Funds, partnerships of institutional investors with approximately $115 million of equity capital that specialize in acquiring, or making substantial equity investments in, small businesses with annual revenues of $5 million to $35 million and developing them into significantly larger enterprises. The Funds are willing to provide considerable equity capital to support growth. North American has acquired companies in a wide variety of industries since its formation in 1989 and continues to actively seek acquisitions that fit its investment profile.