Norwest Equity Partners Invests in Neff Corp

Business Wire, June 4, 2007

Neff leads within the rapidly consolidating equipment rental and leasing industry

MINNEAPOLIS -- Norwest Equity Partners ("NEP"), a leading private equity firm focused on middle market company investments, announced today its investment in Neff Corp. ("Neff" or "the Company"), a market leader in the construction equipment rental industry. The transaction, which closed on May 31, 2007, is valued at approximately $900 million.

NEP joined General Electric Pension Trust and members of Neff's existing management team in the investor group led by private equity firm Lightyear Capital LLC ("Lightyear") in connection with this transaction. Debt financing was arranged by Bank of America, CIBC World Markets, GE Capital Markets, Inc., and UBS Investment Bank.

Since its founding in 1989, Neff has become one of the largest companies in the $34.8 billion U.S. equipment rental industry, a sizable component of the rapidly-consolidating rental and leasing industry. The Company's primary focus is in ground-engaging equipment, and its fleet includes more than 13,000 pieces of the latest earthmoving equipment, compressors, generators and lifts from leading manufacturers.

Neff operates through its network of 66 branches in 14 states located within the economically attractive Sunbelt geographic market, serving more than 20,000 diversified customers who rent leading brands of equipment and tools. Construction companies, golf course developers, industrial plants, the oil industry, and municipalities all rely on Neff for reliable and quality equipment.

With favorable industry trends on its side, Neff is well-poised for continued growth. Todd Solow, NEP principal, stated "We are excited to partner with Lightyear on this transaction and leverage our investment experience within the industrial equipment and financial services sectors. The Company is in a great place for continued growth with its terrific management team, its reputation for high quality customer service, and its ability to continue to expand its geographic footprint."

For more information, please visit www.neffrental.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 our portfolio and investment team.