PBC Announces Divestiture of North American Substation Services

August 5, 2011

WEST PALM BEACH, FL – August 5, 2011 – Palm Beach Capital, through one of its investment entities, today announced that it has sold its equity interest in North American Substation Services, LLC to BBH Capital Partners III, L.P., a private equity fund managed by Brown Brothers Harriman & Co. Financial terms of the transaction were not disclosed.

North American Substation Services or “NASS”, based in Altamonte Springs, Florida and founded in 2005, is an independent repair, maintenance and installation provider for electric utility substations throughout the United States. The company offers transformer, circuit breaker and engineering services to electric utilities, OEMs and industrial customers. With nine locations throughout the country, NASS is the only independent company of its kind with a nationwide footprint. For more information about North American Substation Services, please visit the company’s website at www.nassusa.com.

The investment banking firm of Brookwood Associates, LLC and the law firm Broad & Cassel represented NASS in the transaction. Palm Beach Capital
initially invested in NASS in February 2008.

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