Norwest Equity Partners' CVI Laser Completes Acquisition of Melles Griot

Business Wire, July 25, 2007

Optical Components Manufacturer Expands Globally With Third Acquisition

MINNEAPOLIS -- Norwest Equity Partners ("NEP"), a leading private equity firm focused on equity investments in growing and profitable middle market companies, and the management team of its portfolio company, CVI Laser, LLC ("CVI" or the "Company"), today announced that they have completed the acquisition of Melles Griot, a designer, manufacturer, and distributor of lasers, photonics-related components, and subsystems. Melles Griot, a subsidiary of Barloworld Scientific, is the third add-on acquisition for CVI since partnering with NEP in May 2003. CVI, a manufacturer of optical components, acquired Quality Laser Optical in April 2006 and Optical Components in June 2005. Terms of the Melles Griot acquisition are not disclosed. The transaction closed on July 24, 2007.

Melles Griot specializes in creating and offering flexible solutions to the global marketplace that serve to create light, control its efficient use, and reliably hold or position photonics devices. Melles Griot serves a variety of key markets, including biotechnology (therapeutic and diagnostic), semiconductor equipment (microelectronics), metrology (analytical chemistry), and photonics.

"We are excited about the Melles Griot acquisition opportunity," stated John Hale, a NEP operating partner and CVI Chairman. "Most importantly for our existing and future customers, CVI and Melles Griot joining forces as a powerful combination will provide benefits in the form of a more comprehensive set of products, skills and competencies to compete and serve worldwide. We will now be able to offer both optic and laser solutions."

Founded in 1969, Melles Griot currently operates sales offices and manufacturing and distribution centers in North America, Europe and Asia. Melles Griot locations will complement CVI's existing presence in New Mexico, the British Isles, and South Korea, along with its sales representatives and distributors located worldwide. Once the Melles Griot acquisition is complete, CVI will be one of the world-leaders in photonics, offering a broadened OEM and catalog business. Additionally, the Company is positioned to rapidly grow its already strong customer base and to develop new market segments.

CVI competes in a $5 billion addressable market which exists within the $27 billion global photonics market. Stuart Schoenmann, CEO of CVI Laser, shared, "Adding Melles Griot to the CVI family is exciting both for our company and customers. Growing CVI through successful acquisitions, in addition to organic growth, is consistent with our growth strategy; we are accomplishing our plan to expand our capabilities and increase our manufacturing capacity to meet continued worldwide demand."

NEP had two primary objectives upon acquiring CVI four years ago. The first was to leverage the Company's expertise in manufacturing optics to aggressively target the growing applications and increased demand for optical components. The second was to closely partner with the CVI management team to increase shareholder value through new product and market development, operating initiatives, and a growth strategy focused on technology and capabilities.

ABOUT CVI LASER

Headquartered in Albuquerque, New Mexico, CVI Laser is a leading manufacturer of optical components, providing engineering, rapid prototype delivery, high volume production, and system integration for challenging optical requirements. CVI combines 35 years of optics manufacturing expertise with precision machining and mechanical design to produce integrated opto-mechanical assemblies. CVI serves the semiconductor, biotech, industrial, commercial, aerospace and research industries. For more information, visit www.cvilaser.com.

ABOUT BARLOWORLD SCIENTIFIC

Barloworld Scientific Ltd is the scientific division of Barloworld Limited, an international industrial company representing some of the world's leading brands and employing about 24,000 people in 32 countries. For more information, visit www.barloworld-scientific.com.

Norwest Equity Partners (NEP) provides middle market companies with the capital they need to reach their goals. The firm focuses on providing equity investments of $20-$80 million in growing and profitable companies through management buyouts, recapitalizations, and growth financings. NEP takes pride in its flexible investment charter, extensive resources, carefully tailored transactions and meaningful partnerships. Since its founding in 1961, NEP has earned a reputation as one of the premier private equity investment firms in the United States. NEP has in excess of $3 billion in capital under management and is currently investing NEP VIII, an $800 million fund. Visit www.nep.com for more information on NEP's portfolio and investment team.