| Press Release 9.21.07 Media Contact: Steve Turnbo sturnbo@stfpr.com 918-582-9151 office Kinderhook Industries, LLC Blitz USA Sells to Private Equity Firm and Senior Leadership MIAMI, OK- Blitz USA, one of the nation’s premiere product manufacturers, has signed an agreement to sell the company to an investment group, which includes Blitz’s current President, Rocky Flick, and Kinderhook Industries, LLC, a New York–based private equity firm. The announcement was made by Blitz owner John R. “Cy” Elmburg. Elmburg, who will retire following completion of the sale, said several members of the current management team at Blitz USA, including Rocky Flick, have also acquired equity positions in the company in the transaction. Flick will become CEO following the close of the transaction, which was to occur on Friday. Elmburg’s two sons will also be selling their company equity at this time. The Pet Division of Blitz USA, which is now Bergan LLC, will not be a part of the transaction. A family-owned, locally operated business for three generations beginning with John C. Elmburg, Blitz USA has expanded from a one-product company to a diverse, multi-product company through the leadership of the Elmburg family. Founded in 1966, the company began as the only American company to supply gas cans to the U.S. government. In 1967, the company made its first venture in the consumer products arena by changing its jerry can from traditional drab-green to bright red and started selling to retailers across the country, making the red jerry can an American icon. Today, Blitz USA specializes in automotive and lawn and garden markets and is currently the largest manufacturer of plastic gas cans in the United States. “We have always recognized the success of our company as a journey, rather than a destination,” Elmburg said. “As I prepare to pass the torch, I am thankful for the years that I was a part of that journey. I am confident that the resources of Kinderhook Industries combined with the management team and dedicated workforce will allow the company to continue to grow and prosper.” Even with the company changing hands, Flick said he is committed to keeping Blitz USA a locally-managed company. Flick said that he also contributes much of the company’s success over the last three decades to a management model and work ethic that does not need alteration, which is why the same members of the executive team will stay on board as they prepare to enter a new era for the company. “Blitz USA is a company whose success was fostered by the wonderful community it is a part of,” Flick said. “We want the customer to enjoy the same quality service and products that they have come to expect from Blitz USA, and for the company to remain a source of employment and income for this city. For this reason, Blitz USA will continue to operate in Miami.” About Blitz U.S.A. Blitz USA, headquartered in Miami, OK, is currently the largest manufacturer of plastic gas cans in the US. Over the years, the company has improved and diversified to include both traditional and environmental line of fluid containment. Blitz continues to focus on developing innovative and useful products for customers with solutions to everyday problems. For more information about Blitz U.S.A., visit www.blitzusa.com. About Kinderhook Industries, LLC. Kinderhook Industries is a New York based private equity fund with $470 million of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with a financial and investment know-how of private-equity companies and growth financing of entrepreneurial owned businesses. For additional information, visit www.kinderhook.com. |