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Kuhn Capital Initiates Powel - MiniMax Merger

January 20

For Immediate Release
Contact: Dianne Salam, Kuhn Capital

Kuhn Capital announced today that it has -- on behalf of its Norwegian client, Powel ASA -- concluded Powel’s merger with Minneapolis-based MiniMax Corporation, terms undisclosed.

Powel, employing 160 before the transaction, is one of Europe’s leading vendors of utility transmission and distribution management software. MiniMax applications are used by utilities to automate the planning and construction of field facilities like substations. The deal will result in MiniMax combining operations with Powel Group, a former Powel North American subsidiary, in an entity named Powel-MiniMax.

"Our search for a strategic partner for Powel culminated in a strong match between the company and MiniMax." said Ryan Kuhn, a Kuhn Capital principal. "Adding MiniMax’s field facilities construction and work management capabilities to Powel’s office-based network and asset management applications means that their utility clients may now access a single platform for planning, design, operations and maintenance.”

About Powel
Powel ASA, founded in 1996, was created from the Norwegian Institute for Scientific and Industrial Research (SINTEF) to make its extensive research commercially available to the energy industry. Since then Powel has become the dominant provider of energy software and related services in Scandinavia, and in addition serves clients in Europe, North American and the Pacific Rim. The company’s lead product, NetBas, helps distribution utilities analyze, plan and manage assets and operations. For more see www.powel.com.

About MiniMax
Also founded in 1996, MiniMax is an industry leader in work order automation and staking (field design) software. StakeOut, the company’s flagship application, automates the utility work order process from field design to close-out. For more see www.powelminimax.com.

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