Brockway Moran & Partners and Meridian Venture Partners Acquire Med-Trans Corp. and Executive Air Taxi Corp.

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Brockway Moran & Partners, Inc. (Brockway Moran) and Meridian Venture Partners (Meridian) through their investment in Air Medical Group Holdings, Inc., announced today that they have acquired TJ Holding Company, the parent of Med-Trans Corporation (Med-Trans), a provider of emergency air medical transportation services, and Executive Air Taxi Corporation (Executive Air), a fixed base operator (FBO) located in Bismarck, North Dakota.

Med-Trans Corporation, with offices in Bismarck, North Dakota, and Tucson, Arizona, is a leading provider of air ambulance programs in selected locations throughout the United States. Med-Trans operates in concert with medical centers, emergency medical service providers and communities to provide emergency air ambulance services to critically ill or injured patients. The company’s fleet of 17 Bell helicopters delivers teams of highly trained medical and flight professionals to patients requiring emergency medical care and transports the patient to the appropriate medical facility.  The company currently operates 13 programs in eight states: Arizona, California, Colorado, North Dakota, South Dakota, South Carolina, Tennessee and Texas.  Med-Trans’ programs are primarily focused on establishing partnerships with leading hospital systems, medical centers and EMS agencies to provide customized air medical programs through specialized delivery models.

Executive Air Taxi Corporation is a full-service, fixed base operator (FBO) located at the Bismarck, North Dakota Municipal Airport.  Executive Air’s services include charter services, aircraft maintenance, brokering services, flight instruction, freight transport and fuel sales.  Executive Air is the only certified Bell, Cessna, Cirrus and Beechcraft service center in the Dakota region.

Dennis Rohlfs, President and Chief Executive Officer of Med-Trans, stated: “We look forward to working with Brockway Moran & Partners and Meridian Venture Partners and are very excited about their involvement with Med-Trans and the continuation of the successful business model we have developed.  Brockway Moran and Meridian bring significant financial resources and expertise in aviation services and healthcare that will help us achieve our goals of bringing air ambulance care for emergency, time-critical medical conditions to communities across the United States.”  Rohlfs also stated: “After 33 years at the helm, I look forward to continuing to assist the management team in achieving our strategic expansion goals and plan to continue as CEO for a transition period and thereafter as a member of the Med-Trans Corporation Board of Directors.”

Michael Moran, a Managing Partner at Brockway Moran, said Med-Trans has done an extraordinary job of building hospital relationships and servicing EMS systems and communities.  “Med-Trans operates a high quality operation with an emphasis on outstanding patient care, aviation excellence, and exceptional customer service,” said Moran.  “Our plan is to have Med-Trans operate independently under the direction of its current management team and we are excited to be working with the talented team Dennis has assembled to continue to expand Med-Trans.

According to Joseph Hawke, a General Partner of Meridian, “Med-Trans is a very well-respected company with strong customer relationships and a track record of success.  By partnering with the management of Med-Trans, we expect to perpetuate and build on that legacy of success.  We look forward to working with the company and providing knowledge from our experiences in aviation and healthcare and supporting the company with additional financial resources.”

Brockway Moran & Partners and Meridian Venture Partners have substantial experience working separately and together in the rotocraft, aviation and healthcare industries.  Separately, in January 2002, Meridian became a major investor in Keystone Ranger Holdings, Inc. ( Keystone), a West Chester, Pennsylvania-based rotocraft company involved in multiple lines of businesses, including air medical transportation, maintenance, repair and overhaul and completion services.  Additionally, in May 2004, Meridian announced the acquisition of Composite Technologies, Inc. (CTI), a Dallas-based remanufacturer of rotocraft blades.  Both Keystone and  CTI were recently sold to Sikorsky Aircraft Corporation.  Brockway Moran is a former controlling shareholder of Integrated Aerospace, a leading manufacturer of precision-machined airframe components, external fuel tanks and landing gear components for both rotocraft and fixed wing applications that was sold to Smiths PLC in late 2004.  In July, 2004, Brockway Moran and Meridian invested together in Air Evac Lifeteam, a West Plains, Missouri-based provider of air ambulance services to rural communities.  Air Evac Lifeteam had developed a highly successful and innovative community-based model which has grown from 14 to 63 bases over five years and attracted nearly half a million Air Evac Lifeteam members.  Air Evac Lifeteam and Med-Trans will operate as affiliates under Air Medical Group Holdings, Inc., serving their respective segments of the air ambulance marketplace.

Greene Holcomb & Fisher LLC served as exclusive financial advisor to TJ Holding Company, including its wholly-owned subsidiaries Med-Trans Corporation and Executive Air Taxi Corporation, and Dennis Rohlfs.  Terms of the deal were not disclosed.

About Brockway Moran & Partners
Brockway Moran & Partners is a private equity firm with more than $1.3 billion of capital under management.  The firm acquires growth-oriented middle market companies valued between $50 million and $250 million in partnership with exceptional management teams.  Brockway Moran focuses on businesses with significant growth opportunities either through internal expansion, industry consolidation or innovative business strategies.  The principals of the firm have a record of productively working with management teams to build companies into larger and more diverse enterprises.  Brockway Moran & Partners invests in a broad spectrum of industries with significant experience in consumer, industrial and service businesses.  Since 1998, the firm has completed over 40 acquisitions.  For more information, visit www.brockwaymoran.com.

About Meridian Venture Partners
Meridian Venture Partners is a private equity firm based outside of Philadelphia, PA, which focuses on investing in middle market companies with $10-100 million in revenues through buyouts, recapitalizations and expansion capital financings.  Founded in 1987, the firm manages over $200 million in capital.  Meridian leverages its professionals’ expertise and its capital by partnering with accomplished management teams to build successful companies.  Deploying a sector-diversified portfolio strategy, Meridian invests in industries including business services, healthcare, publishing and media, manufacturing, and consumer-related companies.  For more information, visit www.meridianventures.com.

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