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Diehl Food Ingredients, Inc. formed by Highlander Partners LP acquisition

DEFIANCE, OHIO (May 12, 2006)- Diehl Food Ingredients, Inc. has been formed through the asset purchase of Diehl, Inc. of Defiance, Ohio by Highlander Partners, L.P. of Dallas, TX. Diehl Food Ingredients manufactures and markets powdered ingredient systems based upon proprietary processes and applied technology. In addition, the company maintains experienced technical service and development chemists to assist customers in new product innovations.

“This transaction will serve as the first acquisition of several planned in the food ingredients area” according to Charles A. Nicolais, the new president and a principal in the new company. “We now have a strong platform through this acquisition and we intend to build upon it by leveraging Diehl’s operations along with the financial skills of Highlander Partners. The technical and manufacturing skills of Diehl are what really attracted us to this acquisition.”

Diehl has significant experience in the food ingredients industry and has the ability to add value to customers’ finished products. “We look forward to re-introducing Diehl to customers and showing them how our flexible manufacturing, broad formulation knowledge, and new technologies can help them to create considerable value in their final products”, said Dennis Reid, the new Vice President of Sales & Marketing for Diehl Food Ingredients.

About Diehl Food Ingredients, Inc.
Diehl Food Ingredients, Inc. recently began operating after acquiring the assets of Diehl, Inc. Diehl, Inc. was founded in 1870 and over the years has had business activities in brewing, dairy processing, and specialty ingredients. The company’s current product line includes spray-dried creaming agents, whipped topping bases, fat-based powders, and specialty systems including Vitamite 1 00® and ChocoCreme® fortified non-dairy dry beverage systems. Diehl prides itself in working closely with their customers to develop both customized and proprietary systems that meet their exact ingredient needs. For more information on the new company or its products and services, please call Diehl Food Ingredients at 800-251-3033 or visit their website at www.diehlinc.com.

About Highlander Partners, L.P.
Highlander Partners, L.P., is an investment firm founded in 2004 and located in Dallas, Texas. Highlander Partners manages assets across a variety of investment types with over $100 million allocated for direct private equity investments. The firm invests in small to mid-size private companies with capable management teams, fundamentally strong operations and strong track records. These companies need capital and strategic help to “get to the next level”. Highlander Partners uses a “buy and build” investment approach, creating value through helping companies develop their business and capital allocation strategies. The firm has a limited administrative infrastructure and does not have limited partners, allowing for a flexible decision making process and a long-term investment horizon. Highlander Partners’ industries of expertise include performance chemicals and food ingredients, healthcare, basic materials and financial services.

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