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Trident III, L.P. Acquires Majority Interest in CAPRI Engineering

Trident III, L.P. announced today that it has acquired a majority interest in CAPRI Engineering from Palm Beach Capital Partners. CAPRI, based in Sunrise, Florida, is an engineering consulting firm with 16 locations strategically positioned around the state of Florida, South Carolina and Nevada. Trident III is a private equity fund managed by Stone Point Capital LLC.

CAPRI provides loss prevention, code compliance, quality assurance, geotechnical, environmental and related consulting services to the construction industry. The company's customers include large insurance companies, real estate developers, and municipal building departments. The company, known for its excellence in Structural and Geotechnical Engineering, Special Inspection Services and Municipal & Educational Facilities Support Services, has also been attributed with promoting more progressive and innovative services such as Private Provider Services(TM) and Condominium Defect Mitigation(TM) Services.

"We are excited to have Trident III as a partner in our effort to continue to build the CAPRI franchise," said Gary Elzweig, President and CEO of CAPRI. "We expect that with Stone Point's broad network in the insurance and banking industries, we can grow CAPRI to a national scale." CAPRI Engineering was awarded the "2006 Entrepreneur of the Year" in the emerging market category for the State of Florida by Ernst & Young in recognition of the tremendous growth and success the firm has had since its inception in 2002.

Charles A. Davis, CEO of Stone Point Capital, said, "We have been studying the environmental and engineering consulting industry for over 5 years and met with more than 40 management teams in the industry. Gary Elzweig has a successful track record of building and operating regional and national engineering firms and providing innovative services to its clients. We are delighted to be partnering with him and his management team and look forward to investing further in the CAPRI franchise."

Stone Point Capital is a global private equity firm that manages the Trident Funds and has raised more than $8 billion in committed capital to make investments in the global insurance and financial services industries.