North American Energy Partners Completes Initial Public Offering

ACHESON, AB (November 28, 2006) – North American Energy Partners Inc. (TSX / NYSE: NOA) (the “Company”) announced today that it completed its previously announced initial public offering (the “Offering”) of 12,500,000 of its voting common shares (“Common Shares”) at US$16.00 or C$18.38 per share. As part of the Offering, the Company sold 8,750,000 Common Shares and existing shareholders sold 3,750,000 Common Shares. The Company and the selling shareholders have granted the underwriters a 30-day option (the “over-allotment option”) to purchase up to an additional 1,875,000 Common Shares at the initial public offering price to cover any possible over-allotments. In connection with the completion of the Offering, the Company completed the previously announced purchase of its outstanding 9% Senior Secured …

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The Sterling Group, L.P. Announces Acquisition of BTEC Turbines LP

HOUSTON, TX (September 29, 2006) – The Sterling Group, L.P. (“Sterling”), a Houston-based private equity firm and The Stephens Group, LLC of Little Rock, Arkansas (“Stephens”, and together, the “Investors”), today announced that they have finalized the acquisition of a majority stake in BTEC Turbines LP (“BTEC”). The acquisition was financed with equity and debt capital provided equally by the Investors. Headquartered in a 200,000 square foot facility on the Houston Ship Channel, BTEC specializes in the refurbishment, repair and packaging of large gas turbines as well as turnkey power plant design, construction, commissioning and support (“EPC”). BTEC was founded in 1997 by current CEO and significant shareholder Mike Boyce with whom Sterling and Stephens are partnering. BTEC has worked …

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The Sterling Group, L.P. Completes Acquisition of Roofing Supply Group

HOUSTON, TX (September 6, 2006) – The Sterling Group, L.P. (“Sterling”), a Houston-based private equity firm, today announced that it has finalized the acquisition of a majority interest in the entities comprising the Roofing Supply Group (“RSG”). Headquartered in Dallas, Texas, RSG is one of the largest wholesale distributors of roofing supplies and related materials in the United States. Through its network of 55 branches in 21 states, RSG provides one-step distribution services from the roofing product manufacturers to roofing contractors, home builders, retailers, and other end users. Ron Pugh, founder of RSG, started the first branch in Houston in 1981. He was joined by Vin Perella and Rodney Burns, who opened the second branch in 1984, and then later …

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