Leading plumbing products manufacturer, IPS Corporation, announced today that Alan Barry, President and Chief Operating Officer of Masco Corporation, and Tom Fitzmyers, President and Chief Executive Officer of Simpson Manufacturing, have joined the IPS Board of Directors.  IPS is a portfolio company of Calera Capital, a private equity firm based in San Francisco and Boston that has managed more than $2 billion of equity investments.

“Alan and Tom are very strong  additions to our board”, said Eric Bescoby, CEO of IPS Corp.  “As we continue to build an exciting enterprise, their broad building products experience and deep knowledge around customer service, product development, manufacturing, and logistics will provide great perspective to our organization..”

Mr. Barry became President and Chief Operating Officer of Masco Corporation in April 2003.  Masco is one of the world’s largest manufacturers of consumer products for the home improvement and new construction markets.  He joined Masco in 1972 as Controller of Brass Craft Manufacturing Company, a Masco division focused on plumbing products, and became President of the division in 1988.  In 1996, he was named a Group President.  He has also served as Chairman of the Plumbing Manufacturing Institute and as a member of the Institute’s Executive Board.

Mr. Fitzmyers has served as Chief Executive Officer of Simpson Manufacturing since 1994.  Simpson is a publicly traded international marketer and manufacturer of building products.  He joined Simpson as President and as a member of the Board of Directors in 1983.  Prior to Simpson, Tom was employed with Union Bank as a regional vice president.

Mr. Barry and Mr. Fitzmeyers join Ed LeBlanc, former President of Kidde Commercial and Residential Division, and Tracy Bilbrough, CEO of Generation Brands, as the independent directors of IPS.

About IPS Corporation
IPS, headquartered in Compton, California is a market-leading manufacturer of a wide range of adhesive cements, structural adhesives, and niche plumbing products primarily for residential, commercial, industrial and international markets.  IPS products are sold under a number of highly regarded brand names, including Weld-on, Watertite, Studor, Truebro and Guy Gray.  Calera Capital acquired IPS in partnership with management in July 2006. More information can be found at www.ipscorp.com

About Calera Capital
Founded in 1991, Calera Capital, formerly known as Fremont Partners, is a private investment partnership which has managed more than $2 billion of equity investments in 23 companies, representing a total transaction value of $5.6 billion. With offices in San Francisco and Boston, Calera invests across a diverse range of industries, including financial services, business services, food and consumer, healthcare, building products, and industrial manufacturing. Calera Capital makes substantial equity investments in operating companies, typically with enterprise values up to $1 billion, and seeks to build long-term sustainable value by working with management teams to implement strategic and operating initiatives. More information can be found at www.caleracapital.com.