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(Louisville, KY: December 3, 2010) – Challenger Lifts and Quality Lifts, specialists in the design, manufacture and distribution of automotive lifts have completed a management buyout of both companies in partnership with Gen Cap America, Inc., a private equity firm specializing in middle market acquisitions and management buyouts, company officials announced today.

With Challenger and Quality Lifts, Gen Cap America continues its historical investment model of leaving companies intact and enabling the operational direction of the company to be driven by the management team which continues to invest. The management buyout allows current shareholders and company leaders David Reavis, President and CEO, and Jerry Lentz, Chief Financial Officer, to increase their share of equity in the company.

“As the technology leader in automotive lifts, it’s no surprise that Challenger Lifts continues to experience rapid growth,” said Reavis. “We are excited about our new partnership with Gen Cap America. Together, we will grow our product portfolio, expand our business globally, and increase market share while focusing on offering the most innovative products in our industry combined with top quality service.”

In addition, other company officers participating in ownership include Eric Howlett, Chief Operating Officer of Quality Lifts, Deborah Thompson, Vice President of Sales and Marketing, Jeff Szuba, Vice President of Sales and Marketing, Scott Pollock, Vice President of International Sales and Marketing, and Phyllis Robinson, Corporate Secretary.

“We are pleased to partner with quality management teams who have been vital players in the historical success of Challenger Lifts and Quality Lifts,” said Barney Byrd, president of Gen Cap America. “Both companies are well-positioned to continue their successful track records under our new investment.”

Challenger Lifts and its affiliate, Quality Lifts, are both headquartered in Louisville, Ky., home of their 140,000 square foot manufacturing facility. First established in 1992, the companies manufacture, distribute, install and service automobile lifts and parts through a network of national and international partners.

The corporate headquarters and manufacturing facility of both Challenger and Quality Lifts will remain at 200 Cabel Street in Louisville. For more information, visit www.challengerlifts.com or www.qualitylifts.com.

Founded in 1985 and headquartered in Nashville, Tenn., Gen Cap America is one of the oldest and largest buyout firms located in the Southeast. More information can be found at www.gencapamerica. com.

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