Safway specializes in the renting, erection and sale of scaffolding, and provides related engineering, training and safety services. Headquartered in Waukesha, Wisconsin, the company operates through more than 90 locations in the United States and Canada, with a workforce of approximately 5,000, and generated sales of more than $700 million in fiscal year 2009. The company ranks among the largest North American industrial services companies operating in the commercial construction sector and across a diverse group of energy and industrial markets.

Douglas Rotatori, a Managing Principal of Odyssey Investment Partners, said: "Odyssey has an extensive history of building businesses in the equipment rental and industrial services industries. Safway is a leader in the access services sector that has performed exceptionally well and its prospects as an independent company are very attractive. We are proud to partner with the Safway management team to enhance the company's growth prospects and long-term value."

Marc Wilson will continue to serve as Chief Executive Officer and the Safway management team will remain in their current positions under Odyssey's ownership.

Mr. Wilson said: "Odyssey is an excellent partner for Safway given its significant experience investing in businesses similar to ours on a global basis. We are optimistic that this new relationship will create attractive opportunities for our customers and employees as we grow in our markets."

Odyssey's experience investing in industrial manufacturing and localized service businesses includes, among others, Williams Scotsman Inc., a leading provider of mobile office and storage units leased through a national network of branches; United Site Services, the largest provider of portable restroom services in the U.S.; Neff Corp., a leading construction equipment rental company with coast-to-coast branch locations; and ETS, a market leader in the temporary liquid and solid storage containment rental business.

Debt financing for the transaction will consist of a senior secured revolving loan facility (the "Revolver"), and a senior secured loan. The Revolver will be led by Wachovia Bank and Burdale Capital Finance (a member of the Bank of Ireland Group), with Bank of America and PNC Bank as co-arrangers and ING Capital participating. The senior secured loan will be led by GSO Capital Partners LP.

Contact:

Mark Semer
Kekst and Company
212-521-4802