Harbert Mezzanine Partners III, L.P. Provides Mezzanine Debt and Equity for the Acquisition of Turbine Generator Maintenance, Inc.

NASHVILLE, TN--(Marketwired - April 08, 2014) - Harbert Management Corporation is pleased to announce Harbert Mezzanine Partners III, L.P. ("HMP" or the "Fund")'s recent investment in Turbine Generator Maintenance, Inc. ("TGM"). Headquartered in Cape Coral, FL, TGM performs turbine and generator outage services for industrial clients, independent power producers, and public utilities. HMP partnered with Azalea Fund III, L.P. and TGM's existing management to complete the investment.

About Turbine Generator Maintenance, Inc.
TGM is the premier, independent solution provider for steam and combustion turbine and generator inspection, testing, and repair. TGM is turnkey and project management based, focused on units operated by independent power producers, cogenerators, and other power producers that require the shortest outage durations to support availability requirements. TGM provides expert field service inspections, repairs, and operational support for steam and combustion turbine and generator sets throughout the Americas.

About Harbert Mezzanine Partners III, L.P.
Harbert Management Corporation ("HMC") is sponsoring the Fund. HMP III's primary strategy is to invest $3-$15 million in small- to medium-size businesses seeking funding for organic growth, acquisitions, recapitalizations and management buyouts. The Fund is led by John C. Harrison, Senior Managing Director of each of the predecessor funds executing HMC's mezzanine capital strategy -- Harbinger Mezzanine Partners, L.P. ("HMP I") and Harbert Mezzanine Partners II, L.P. and Harbert Mezzanine Partners II SBIC, L.P. (collectively "HMP II").