Bunker Hill Buys SAP Consultant Nspro

Bunker Hill Capital has acquired Nspro Inc., a Montreal-based provider of functional consulting services focused on SAP software architecture and configuration. No financial terms were disclosed.

PRESS RELEASE

Bunker Hill Capital, L.P. announced today that it has acquired /n Spro, Inc. (“Nspro” or the “Company”), a leading Canadian provider of functional consulting services focused on SAP AG (“SAP”) software solution architecture and configuration. This transaction represents the first acquisition of a consolidation strategy that will focus on acquiring complementary, specialty consulting services companies. Nspro provides expert level functional consulting services to organizations utilizing SAP’s Human Capital Management (“HCM”), Customer Relationship Management (“CRM”) and Portal applications.

Headquartered in Montreal, Quebec, Nspro has developed a leading SAP consulting practice with offices in Montreal and Halifax, Nova Scotia. In addition, the Company is expected to open a new office in Toronto, Ontario in the fourth quarter of 2009. The Company’s founders, Luc Hedou and John Sanderson, remain significant owners and will continue to oversee Nspro’s operations, corporate development initiatives and project management capabilities. “We decided to partner with Bunker Hill Capital to create a leading consulting firm within the North American SAP ecosystem while taking our business to the next level. We share a common vision and look forward to creating an industry-leading service platform in partnership with Bunker Hill Capital,” said Hedou, President and founder of Nspro. Sanderson, Vice President and founder of Nspro, added, “Bunker Hill Capital will help us accelerate Nspro’s growth while allowing us to continue focusing on our core business and customers. While we expect to enhance our expertise and services over the next few quarters, our focus on SAP technologies and customers will continue to be our primary focal point.”

Bunker Hill Capital has spent a significant amount of time and resources focusing on the strategy over the past year. According to Mark DeBlois, a Managing Partner at Bunker Hill Capital, “We think there is a great opportunity to acquire and consolidate several companies that perform specific niche consulting services in the SAP market. We look forward to evaluating these opportunities in conjunction with our management partners Luc Hedou and John Sanderson.”

Rufus Clark, also a Managing Partner at Bunker Hill Capital, commented, “We have developed a strong collaborative relationship with Luc Hedou and John Sanderson, and we look forward to working with them to accelerate Nspro’s organic growth opportunities. All of us are eager to continue building out the Company’s brand and market position in the Canadian market in addition to acquiring complementary companies in North America.”

About Nspro

Founded in 2003 to serve clients who wish to optimize their SAP investment, Nspro is composed of a team of senior experts who possess a sound understanding of clients’ problems and have extensive expertise in the implementation of the SAP suite of products. Focusing mainly on SAP HCM, CRM and Payroll modules, the Company’s consultants work with the public sector as well as with companies in the high tech, pharmaceutical and petroleum industries. As a result of its numerous successes, Nspro is considered the team of choice for carrying out architecture projects, quality assurance, strategic planning and the execution of highly specialized projects. Since its inception, the Company has registered an impressive annual growth rate due to its strong application expertise. For more information, please visit www.n-spro.com.

About Bunker Hill Capital, L.P.

Bunker Hill Capital is a private equity firm that makes investments in lower middle market companies with enterprise values up to $150 million. The principals of Bunker Hill Capital have invested over $400 million in 29 transactions and target opportunities across four industry sectors, including industrial products, business services, consumer products and specialty retail. Bunker Hill Capital’s other portfolio company investments include California Family Fitness, the leading owner and operator of fitness centers in the greater Sacramento, CA area; Papa Gino’s/D’Angelo, a dominant quick-service restaurant operator in New England; and Smith & Wollensky, a premier steakhouse concept in the United States. For additional information on Bunker Hill Capital, please go to www.bunkerhillcapital.com.