Frankfurt am Main, July 12th, 2010.

AXA Private Equity, the leading European diversified private equity firm, has acquired a majority stake in the Phönix/Strack Group, a leading manufacturer of high-quality special valves for international blue chip companies in the fields of energy, petrochemicals and chemicals.

Thanks to its recognised quality, innovation and engineering expertise, the Phönix/Strack Group has continually strengthened its market position over the past five years. Following the acquisition of the majority stake by AXA Private Equity, the company plans to increase its international presence through acquisitions and by exploiting existing market opportunities.

Lothar Fichtner, Managing Partner of Phönix, said: "AXA Private Equity is our partner of choice with whom we will continue to pursue our growth objectives in the coming years." The energy sector is an important business segment for the Phönix Group. Phönix solutions are employed in both conventional power plants and the regenerative energy.

Dirk Wittneben, Managing Director of AXA Private Equity, said: "Phönix/Strack is an extremely well positioned company with outstanding products. The partnership makes perfect sense as, using our experience in helping companies grow, we can support Phönix, in its continued strategic expansion. As a stakeholder we are looking forward to working together with the experienced management team to achieve a common objective of continued growth."

ABOUT AXA PRIVATE EQUITY

AXA Private Equity is a leading private equity firm with US$25 billion in managed assets and a global reach extending across Europe, North America and Asia. The firm offers investors the full spectrum of private equity services for every market segment: direct funds, infrastructure financing, mid cap and small cap buyouts, venture capital, co-investments, fund of funds as well as mezzanine financing. With offices in Paris, Frankfurt, London, New York, Singapore, Milan, Zurich and Vienna, AXA Private Equity supports the development and long-term growth of its portfolio companies with sustainable growth strategies and by granting them access to the AXA international network. AXA Private Equity has earned the trust of its investors by regularly supplying them with transparent performance data on its funds and portfolio companies.

Source: AXA Private Equity - Press release " AXA Private Equity partners with Phönix/Strack Group to support the company's international growth strategy. (Extract)