Acquisition of Hardi International (DK) from Auriga Industries (DK) by Exel Industries (FR) — EUR 100 million

Carnegie acts as adviser to Exel Industries in the acquisition of Hardi International from Auriga Industries. Exel Industries is a leading supplier of spraying equipment within both industrial sprayers and sprayers for plant protection. Hardi International develops, manufactures and markets sprayers and spraying equipment for responsible plant care. November, 2007.