Official Web Site:  http://www.macupdate.com/app/mac/15360/ipartition

iPartition makes it easy to create, destroy, resize or format partitions on your hard disks, whether internal, external, fixed or removable.

With iPartition, resizing a partition is as simple as selecting it, grabbing the resize handle and dragging. Not only that, but if you have several operations to perform, iPartition lets you queue them up and run them one after another, so you can have a cup of coffee whilst iPartition works. This feature, coupled with iPartition's ability to automatically rearrange your existing partitions when asked to expand a partition, makes iPartition the easiest disk partitioning tool that you'll ever use.

Nor does iPartition's ease-of-use come at the expense of power users; iPartition's Partition Map window, coupled with the Inspector, provides total flexibility, even allowing users to edit flags in the partition table, edit the partition type directly, or move or resize partitions accurately anywhere on the disk.

Version 3.4.0:

* The major new feature in this version is the ability to create a recovery
  disk with iPartition on an external drive (including USB flash drive).
  This feature is Mac OS X 10.7 only.

* There are also a number of other bug fixes.

System Requirements;

PPC / Intel, Mac OS X 10.4.11 or later.

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NOTE: Use Little Snitch to block app.