H.I.G. Capital News


John Caple
Andrew Brown
Bayside Capital.
1001 Brickell Bay Drive
Miami, FL 33131
Ph: (305) 379-8686

Bayside Capital Acquires Flight Express, Inc.

MIAMI, FL- November 3, 2008 - Bayside Capital, Inc. ("Bayside") announced today that its affiliate has acquired Flight Express, Inc. (“Flight Express”). Headquartered in Orlando, Florida, Flight Express is a premier provider of high-security, same-day air courier services to banking and life sciences customers in the South and Midwest. Flight Express is the world’s largest operator of Cessna 210 aircraft and operates 84 aircraft from facilities in eight states.

John Kirchhoefer, President of Flight Express, said, "In Bayside, we have a new partner that shares our commitment to excellent customer service, safety and reliability. We look forward to working with Bayside to continue to grow the business.”

John Caple, of Bayside, said, "We have long admired the business that John Kirchhoefer and his team at Flight Express have built. We plan to work closely with the organization to continue their success.”

About Flight Express, Inc.

Flight Express, Inc. provides value-added, time-critical aviation services to a diverse set of customers in the most service-intensive, cost-effective manner possible. Flight Express operates dedicated charters that provide expedited transportation services to banks, life sciences companies and other time-critical small package shippers across the South and Midwest. For more information, visit Flight Express's website at www.flightexpress.com.

About Bayside Capital

Bayside Capital is a private investment firm which actively invests in the debt and equity of middle market companies that can benefit from operational enhancements, improved access to capital, or balance sheet realignments. With the ability to provide capital through a broad array of securities including senior and subordinated debt, equity, Debtor-In-Possession facilities, and special situation loans, Bayside has the experience and resources to help companies quickly resume growth initiatives and improve their strategic position. Bayside Capital is an affiliate of H.I.G. Capital, a leading global private equity investment firm specializing in acquisitions and recapitalizations of middle market businesses. Based in Miami, Florida, and with offices in Atlanta, Boston, and San Francisco in the U.S. as well as, affiliate offices in London, Hamburg and Paris in Europe, H.I.G. is one of the most active private equity investors in small and medium-sized companies. We have in excess of $7.5 billion of committed equity capital to support our investment activities. In the last decade, we have invested in over 200 companies with combined revenues of over $7 billion. For more information, please refer to the Bayside Capital website at www.bayside.com.