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February 2005
Code Hennessy & Simmons LLC Announces Successful Closing of $1.3 Billion CHS Fund V

Code Hennessy & Simmons LLC (CHS) today announced the closing of CHS Private Equity V LP (CHS Fund V), a $1.3 billion fund and the firm's fifth private equity fund. CHS currently manages $2.5 billion of capital. CHS Fund V is $300 million larger than the firm's previous fund, a $1.0 billion private equity fund closed in 1999.

"Fund V will allow CHS to build on over fifteen years of successful middle market, private equity investing," said CHS Partner Brian Simmons. "Our strong track record and close relationships with investors in the private equity market allowed CHS to complete fund raising in approximately six months. Through changing economic and market conditions, we adhered to our strategy, exercised discipline and delivered attractive returns across all four previous funds. We believe that our investment process and unique middle market franchise position CHS to generate attractive investment results for Fund V."

CHS, founded in 1988, is a leading Chicago-based private equity fund specializing in private equity investments and recapitalizations of middle market companies in partnership with company management. Since 1988, CHS has invested in 56 platform companies and completed 130 add-on acquisitions. CHS' current portfolio consists of 18 operating companies with combined annual revenues of more than $4.6 billion.

Through CHS Fund V, the private equity firm will continue to make control equity investments in companies valued between $100 million and $500 million in the areas of CHS' expertise including distribution, industrial products, consumer goods and business services. CHS will manage portfolio companies aggressively for long-term capital appreciation and will support platform companies with management, operational and financial expertise. CHS' partners have a minimum of ten years of experience at the firm, bringing unique continuity to the investment activities of the organization.