TIPPMANN PNEUMATICS RECEIVES INVESTMENT
FROM SUMMIT PARTNERS


Fast-Growing Paintball Equipment Manufacturer Positioned for Long-Term Success


FORT WAYNE, INDIANA—June 24, 2004—Tippmann Pneumatics, Inc., the premier
manufacturer of high-performance paintball markers and accessories in the
United States, has completed a financial recapitalization with Summit Partners,
a leading private equity and venture capital firm with more than $5.5 billion
under management.



Founded in 1986, Tippmann serves the rapidly growing paintball industry. The
company has become an industry leader by focusing on product innovation,
product quality and reliability, and outstanding customer service and support.
Headquartered in Fort Wayne, Indiana, Tippmann sells its products through
specialty paintball dealers and distributors, as well as the mass merchant and
sporting goods channels in the United States, with a growing presence in
Europe, Australia, and Canada. Tippmann’s products are manufactured in the
United States at its new 100,000 square foot facility that opened late last
year.



The Tippmann family will continue to have a significant minority interest in
the business. Dennis Tippmann, Sr., Founder of Tippmann, will serve on the
company’s Board of Directors and provide ongoing consultation to the
management team as needed. Dennis Tippmann, Jr. will also serve on the
company’s Board and continue full-time as a member of the senior management
team to lead the company’s product development effort.



Mr. Tippmann, Sr. commented on the partnership. “Paintball has been the
fastest-growing segment of the sporting goods industry in recent years, and
Tippmann has grown even faster than the overall market by consistently
developing the most reliable markers in the industry. By partnering with
Summit Partners as our first professional investor, we can now take our
business to the next level and seek complementary acquisitions within the
paintball industry to expand our product offering and market share.”



In connection with this transaction, Howard A. Kosick has joined Tippmann as
President and CEO. Mr. Kosick has held a number of senior management positions
in consumer goods and sporting goods companies, including Bell Sports, Arctic
Zone, and Thermos. While he was at Bell Sports, the company became the market
leader in bicycle helmets and accessories during the industry’s high-growth
period in the 1990s. In his most recent position as CEO of Bell Automotive
Products and Bay Travelgear, Mr. Kosick served the mass merchant, sporting
goods, and specialty channels—the primary distribution outlets for Tippmann.




As part of the recapitalization, the company plans to change its name to
Tippmann Sports, LLC, to better reflect the company’s participation in
extreme sports.



“Summit Partners targets privately held companies that have bootstrapped
their businesses to profitability and established leadership positions in their
industry. Our analysis of Tippmann revealed that their brand equity and
reputation for great customer service is second to none in the paintball
industry. We are pleased to partner with Tippmann and help it to continue to
extend this leadership position,” said E.J. Whelan, Vice President, who will
join the company’s Board of Directors along with Joe Trustey, a Managing
Partner at Summit Partners.



RSM EquiCo Capital Markets served as advisor for Tippmann on the transaction.
Bell, Boyd & Lloyd acted as legal counsel for Tippmann, and Weil Gotschal &
Manges LLP acted as legal counsel for Summit Partners.



About Tippmann Pneumatics, Inc.
Tippmann Pneumatics, Inc. is the premier manufacturer of high performance
paintball markers and accessories for extreme sports. Founded in 1986, the
company serves the rapidly growing paintball industry from its Fort Wayne,
Indiana headquarters. Tippmann sells its products through specialty paintball
dealers and distributors, as well as the mass merchant and sporting goods
channels in the United States, with a growing presence in Europe, Australia,
and Canada. For more information, visit www.tippmann.com.



About Summit Partners
Summit Partners is a leading private equity and venture capital firm. The firm
has a capital base of more than $5.5 billion, with offices in Boston, Palo
Alto, and London. Formed in 1984, Summit Partners has provided growth equity,
recapitalization, and leveraged buyout financing to more than 255 companies,
which have completed more than 105 public offerings and 85 strategic mergers or
sales. Summit Partners seeks outstanding management teams that have
self-financed their companies to profitability and market leadership in a broad
range of emerging growth industries, including technology, healthcare, business
and financial services, and industrial and consumer products. For more
information, visit www.summitpartners.com.

"MidntNinja" <midntninja@aol.com> wrote in message
news:20040627084431.13589.00000588@mb-m12.aol.com...
> TIPPMANN PNEUMATICS RECEIVES INVESTMENT
> FROM SUMMIT PARTNERS
>
>
> Fast-Growing Paintball Equipment Manufacturer Positioned for Long-Term
Success
>
>
> FORT WAYNE, INDIANA-June 24, 2004-Tippmann Pneumatics, Inc., the premier
> manufacturer of high-performance paintball markers and accessories in the
> United States

LOL, how do they come up with this stuff?