About Stonehenge

NEW YORK, N.Y. April 10, 2008— Stonehenge Growth Capital announced it has made a $16.4 million investment in SSTX, LLC, a newly-formed company that acquired the assets of Sunbelt Steel Texas, Inc. SSTX management and Freestone Partners, LLC led the acquisition. Stonehenge Growth Capital provided both subordinated debt and equity to support the transaction.

Sunbelt Steel, is a Houston-based, value-added steel round bar distributor specializing in high performance alloy grades. Value-added services include saw cutting, trepanning, straightening, heat treating, testing and other machining services. Sunbelt Steel sells its products to a variety of end-user industries, but primarily targets the down hole drilling market.

"We are pleased to complete our second transaction with Freestone in just a few short months. Jim Briggs, Mark Leyerle and George Clark are outstanding partners to lead this transaction," said Nemo Viso, Managing Director at Stonehenge Growth Capital.

Michael Kowalski, President and CEO of SSTX, remarked, “It is a credit to Freestone, Stonehenge Growth Capital and PNC that each continues to be very active despite a challenging financial market. We are excited to partner with each of them.”

"Sunbelt represents another Texas success story where Houston entrepreneurs have executed well to serve a strong market opportunity. Michael Kowalski, Kathleen Rutledge and Jerry Wasson are an excellent management team and we are proud to partner with them," noted Steve Bennett, Managing Director of Stonehenge’s Texas office.

Mark Leyerle, Managing Director at Freestone Partners commented that "Sunbelt Steel’s track record of delivering high-quality steel products and services is unsurpassed. We are delighted to partner with management in this investment.”

PNC Business Credit provided senior financing. This marks the third joint transaction between PNC and Stonehenge Growth Capital in the past year.

Stonehenge Growth Capital represents the private equity, lending and venture capital group of Stonehenge Capital Company, LLC. From its five offices across the country, SGC directly originates and manages private equity, debt and venture capital investments across the country.
Stonehenge Capital Company, LLC (www.stonehengecapital.com) is a nationwide specialty finance firm with expertise in mezzanine and private equity, tax credit finance and structured finance transactions. In addition to its SGC principal investment and asset management activities, SCC has closed more than $1 billion of structured finance and tax credit transactions from its offices in Alabama, Colorado, Florida, Louisiana, Missouri, New York, Ohio, Texas and Wisconsin.