M&A South 2025 Program Guide (Digital 1/17)

FEBRUARY 3-5

HOTEL AT AVALON & CONFERENCE CENTER

PLATINUM

BADGE

DEALMAKER’S LOUNGE

HYDRATION

SILVER

CONTENT

GELATO

WOMEN'S CHAMPAGNE TOAST

HEADSHOT

LANYARD

BOOTH EXPERIENCE

NIGHTCAP

COFFEE

BRONZE

SUPPORTING

ii

RECEPTION

GOLD

WIRELESS

GIVEAWAY CHARGING

TABLE OF CONTENTS M&A SOUTH 2025 Chairman’s Welcome. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 A Word from the ACG Atlanta Chairman of the Board. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Executive Committee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Opportunities for Connecting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2025 Conference Agenda. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Platinum Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Gold Sponsors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Reception Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Badge Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Dealmaker’s Lounge Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Silver Sponsors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Hydration Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Headshot Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Lanyard Sponsor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Content Sponsors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Booth Experience Sponsors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Gelato Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Women’s Champagne Toast Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Nightcap Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Coffee Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Wireless Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Giveaway Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Charging Sponsor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Bronze Sponsors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Supporting Sponsors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 Sponsor Directory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 Exhibitors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 The 2024-2025 ACG Atlanta Board of Directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190

1

M&A SOUTH 2025 CHAIRMAN’S WELCOME Welcome to M&A SOUTH! By participating in the 23rd year of the conference, you are a part of the premier sourcing, networking, and educational event for dealmakers across the Southeastern U.S. since August. The planning committee has been working hard to assemble another great conference for the M&A community.

We are excited to provide participants and sponsors an opportunity to fill their pipelines and sharpen their expertise through speakers, panels, and bite-sized content sessions. Thank you for your attendance and support this year!

We are thrilled to return to the Hotel at Avalon and Convention Center. This “Sip & Stroll” community allows us to leave the convention center hall and provide meaningful conversations and connections throughout the property. We have invested in an outdoor tented space for additional meeting spaces to give the attendees a covered, outdoor gathering space adjacent to the main ballroom.

We hope you joined us on January 8th for our preview event with Ty Gilmore, President of Tilray Brands Beer Division. This was a great way to kickstart our event, and the momentum continues with our outstanding lineup of speakers and thought leaders for this event, including our Keynote Conversation with George Mattson, Chief Executive Officer at Wheels Up. We will have panels and breakout sessions during the conference on key topics, including Navigating Exits, Healthcare Costs, and how Operating Partners can navigate their firms, and our ever-popular Debt Market Update and Deal Trends panel. We encourage you to block these times on your calendar for takeaways for your business and clients.

We will open the conference on the afternoon of February 3rd with networking and meetings. The Dealmaker’s Lounge and the Exhibit Hall will be open for all attendees. We will host our popular Sparkling Connections event at Anthropologie just up the street from Avalon. The evening will bring together all conference attendees and sponsors for a wonderful cocktail reception. Hors d’oeuvres and cocktails will provide a perfect opportunity for networking before heading out for plans the night may hold for you.

Tuesday, February 4th, will be a packed day! Listening to feedback from prior years, we have a balance of expanded meeting times while still producing relevant and timely content sessions. Our meeting spaces open at 7:00 AM to maximize

2

meeting times. The formal schedule begins at 7:30 AM with our Emerging Leaders Breakfast. Young Leaders and those new to the industry can gather in South City Kitchen for breakfast and make meaningful connections before the day of meetings.

In lieu of a formal Capital Connection and Reverse Capital Connection event, we instead encourage you to schedule the meetings that are most impactful for you.

During this time, investment banks and mezzanine capital sources will be exhibitors, while the private equity groups, corporate development officers, and other attendees will have the opportunity to obtain insights on prospective deal flow in 2025 and beyond.

Our opening session on Tuesday begins at 9:30 AM with a welcome from ACG CEO Brent Baxter, ACG Atlanta, and Platinum sponsor Bank of America. Our main stage will highlight the growth story and trajectory of Wheels Up. They will discuss how the South is winning big in aviation and joint ventures.

Following the Keynote, our set of content highlights what is driving value in the many deals attendees are seeing, exits, as well as our annual update M&A Deal Trends and Debt Market Updates. Our panelists and speakers are sure to deliver great information for you to take back to your clients, customers, and portfolio companies. Following the content and meetings, RSM is hosting a twilight reception on the Pool Terrace. Wind down with cocktails and apps before heading out for the evening.

On the morning of Wednesday, February 9th, we will have breakfast from the Waffle House food truck for those of you who had a late night! ALL exhibitors will have their dedicated meeting tables for the morning to continue meetings until 11:30 AM. We hope that you will spend some time in the evenings at our beautiful venue at Avalon. South City Kitchen, Rumi’s Kitchen, Oak Steakhouse, and Ford Fry’s Superica are some of the best restaurants in the city. Avalon is an open-container community, so feel free to hop around and explore the many wonderful nightlife options the community has to offer. None of this would be possible without our loyal sponsors, many of whom have supported this event for more than a decade.

On behalf of the M&A SOUTH Committee and ACG Atlanta, I hope you will find this event a great way to build your pipeline for 2025.

Welcome.

Max Oligario Chair, M&A SOUTH 2025

A WORD FROM THE ACG ATLANTA CHAIRMAN OF THE BOARD Welcome, and thank you for attending the 23rd annual M&A South! Whether you’re a veteran of our past events or a first-time attendee, the ACG Atlanta Board of Directors and I are confident you’ll have a productive and fun time in Atlanta. We hope you return home more informed and connected than when you arrived.

ACG’s global mission is to drive middle-market growth. Our organization comprises over 14,000 global members, and Atlanta is one of the largest chapters. We consistently hear that the M&A South conference is an essential start to each new business year.

It serves as a key connection point for the local and national deal-making community through all of the people who travel here to participate year after year. The relationships our attendees establish, build, and reinforce through ACG events positively impact their businesses and careers, and this year’s conference is certain to deliver that for you again.

ACG Atlanta continually strives to find new ways to drive middle-market growth and promote networking within the deal community This year, we are committed to creating initiatives focused on fostering information sharing, education, inclusion, and access among companies, intermediaries, and investors in the middle market. This exchange of ideas and contacts will help continue the growth of the middle market ecosystem in Atlanta and the South.

M&A South is one of many opportunities for our members to network with the “Who’s Who” of the Atlanta and national business communities. With a membership base comprised of corporate leaders, investors, and advisors that serve the middle market, the benefits of exchanging information, opportunities, and growth strategies with decision-makers abound.

We hope you enjoy M&A South so much that you also will join us for our other annual signature events, including the Spring Summit on May 8th, the ACG Atlanta Georgia Fast 40 Celebration on June 12th to honor Georgia’s 40 Fastest-Growing Companies and, on August 22nd, the ever-popular Taste of ACG Atlanta, which offers quality networking along with superior wine and food. If you are an Equity Fund or Investment Bank, make sure to mark your calendars for our 2nd Annual DealSource event at Truist Park on September 10th. We welcome you to join ACG as a member, attend our events, and become involved behind the scenes on our various committees.

Finally, I would like to take this opportunity to thank the Chair of M&A South 2025, Max Oligario, our stellar host committee of ACG member volunteers, and our tremendous ACG professionals for all their efforts in making M&A South another “Must-Attend Event” for the ACG and M&A community. Please do not hesitate to find us at the conference if you have questions or need assistance. We look forward to hearing about your experience this week.

Very truly yours, Colby Schwartz Chair of the Board, ACG Atlanta

FOR INFORMATION ABOUT ACG ATLANTA, PLEASE CONTACT: MEG WILLIAMS

Executive Director

404.846.4455 x1 | acgatlanta@acg.org

3

COMMITTEE CHAIR: MAX OLIGARIO Bank of America

COMMITTEE MEMBERS: GEOFF COAR New State Capital Partners BLAKE GODDARD Synovus REESE HENSON Citizens STEVEN HUNTER TM Capital JOHN KAHN CFGI VIRGINIA KISELJACK PNC Bank PATRICK LANE USI Insurance JOHN MCCARTY Star Mountain Capital SUE MILLER Bank of America STERLING MORRIS III Acuxcel GINY MULLINS Linx Partners/LXP RETT PEADEN Smith, Gambrell & Russell COLBY SCHWARTZ Fifth Third Securities JESSE SPELTZ Cabretta Capital

4

ACG ATLANTA STAFF: MEG WILLIAMS Executive Director GLORIA KANTOR VP Operations (Atlanta & South Region) COLIN BLOUIN Chapter Manager

OPPORTUNITIES FOR CONNECTING We are excited to return to the Hotel at Avalon and Conference Center.

Attendees have the opportunity to meet with each other via one-on-one meeting and visiting with our Exhibitors and Sponsors during the event.

Stop by the Deamaker’s Lounge SPONSORED BY

by Registration or connect with attendees in the Outdoor Tent off the ballroom.

WiFi Network Name:

WiFi Network Password:

“Avalon_Conference”

“frazierdeeter”

WIRELESS SPONSOR Make sure to check out the welcome video from

5

6

2025 CONFERENCE AGENDA

7

**PLEASE NOTE ALL TIMES ARE EASTERN STANDARD TIME**

MONDAY, FEBRUARY 3: 11:00 AM – 12:00 PM • Roundtable led by GF Data (by invitation only) Location: Rainwater 11:00 AM-6:00 PM • Registration Open Location: Pre-Function 2:15 PM – 3:15 PM • Corporate Development Roundtable (by invitation only) Location: Rainwater 1:30 PM – 5:30 PM • Dealmaker’s Lounge Open (Sponsored by Smith, Gambrell, & Russell) • Meeting & Exhibitor Spaces Open Location: Skelton/Teasley 3:00 PM – 4:30 PM • Sparkling Connections: ACG Women’s Networking Event (Sponsored by Burr Forman) Location: Anthropologie 4180 Avalon Blvd, Alpharetta, GA 30009 4:30 PM-6:30 PM • Opening Reception Location: Hagood & Tent 9:00 PM-11:00 PM • Nightcap (Sponsored by P/S Atlanta) Location: South City Kitchen Bar Monday Evening • Private Dinners and events

TUESDAY, FEBRUARY 3 7:00 AM-5:00 PM • • • •

Registration Open Meeting & Exhibitor Spaces Open Breakfast Buffet 7:30 AM – 9:00 AM Dealmaker’s Lounge Open (Sponsored by Smith, Gambrell, & Russell)

7:30 AM-9:00 AM • Emerging Leaders Breakfast Location: South City Kitchen

8

9:30 AM-11:00 AM • Opening Session featuring the Keynote Presentation with George Mattson of Wheels Up Location: Trammel Devore Dodd 11:15 AM-12:25 PM • Micro-Learning Sessions Location: Brady • The Evolving Role of Operating Partners in Private Equity: Taking a Hands-on Approach to Value Creation (Sponsored by Withum) • War Stories: Succession Planning - Wins & Losses (Sponsored by Carr, Riggs & Ingram) • Deal Stories in the Franchising Space (Sponsored by Fifth Third) 12:00 PM-1:00 PM • Lunch 1:00 PM-2:00 PM • Panel Session - Opportunities & Optimism: M&A Deal Trends (Sponsored by Eversheds Sutherland) Location: Trammel Devore Dodd 2:00 PM-3:00 PM • Micro-Learning Sessions Location: Brady • How Partnering with a PEO can Protect your Assets (Sponsored by TriNet) • Nailing the Exit: What you Need to Know (Sponsored by CFGI) • Mitigating Risks in M&A: The Cost of Misrepresentation and Health Plan Valuations (Sponsored by Marsh McLennan Agency) 3:00 PM-4:00 PM • Panel Session - Annual M&A South Debt Market Update (Sponsored by Troutman Pepper Locke) Location: Trammel Devore Dodd 4:30 PM-6:30 PM • Evening Reception: Twinkling on the Terrace (Sponsored by RSM US LLP) Location: Pool Terrace (weather permitting) Tuesday Evening • Private Dinners and events

WEDNESDAY, FEBRUARY 5 7:30 AM-10:00 AM • Registration Open 7:30 AM-11:30 AM • Meeting spaces will be open • Dealmaker’s Lounge Open (Sponsored by Smith, Gambrell, & Russell) 8:00 AM-10:00 AM • Breakfast – Waffle House Food Truck Location: Portico

9

PLATINUM SPONSOR

10

11

GOLD SPONSORS

12

SELL-SIDE SERVICES

BUY-SIDE SERVICES

• • • • • • • • •

• • • •

Quality of Earnings Tax due diligence General consulting Tax structuring of deals Working capital target peg Debt-like analysis Helping management with buy-side diligence Internal and external outsourced CFO services Buyer/Seller dispute resolution for working capital/earnouts

CRI ATLANTA 4004 Summit Blvd NE, Ste 800 Atlanta, GA 30319 770.394.8000

CRIadv.com

• • • •

Quality of Earnings Tax due diligence Working capital target peg and true-up Purchase price allocation and other valuation services Business combination accounting Target accounting integration Internal and external outsourced CFO services Buyer/seller dispute resolution for working capital/earnouts

WANT TO LEARN MORE? scan the QR code or visit: criadv.com/service/transaction-advisory-services

*Firm practice structure statement - criadv.com/disclaimer

13

RECEPTION SPONSOR

14

Followers come in second.

Change waits for no one. Don’t sit back. Work with future-focused advisors who embrace technologydriven strategies, so you can take charge of change. rsmus.com

RSM US LLP is the U.S. member firm of RSM International, a global network of independent assurance, tax and consulting firms. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International.

15

BADGE SPONSOR

$4+ billion specialized asset management firm focused on the U.S. lower middle-market by investing debt and equity directly into established operating companies, making strategic investments into fund managers and purchasing secondary fund positions*

Email: info@StarMountainCapital.com StarMountainCapital.com YouTube.com/StarMountainCapital Linkedin.com/company/Star-Mountain-Capital-LLC Atlanta • Chicago • Cleveland • Dallas • Greenwich • Jacksonville • Los Angeles • New York • Philadelphia • Tampa • West Palm Beach *AUM defined as capital commitments plus committed asset-based leverage, including $175 mm of available SBA leverage on each of Star Mountain’s two licensed SBIC funds. All numbers as of 12/31/24.

16

DEALMAKER’S LOUNGE SPONSOR

Smith, Gambrell & Russell, LLP is proud to support

M&A South 2025

Our Mergers and Acquisitions attorneys have extensive experience representing private and public companies in a wide range of domestic and cross-border transactions, including mergers, acquisitions and divestitures, as well as equity and debt financings, leveraged buyouts, and more.

Smith Gambrell advises regional, national and global businesses on a range of legal matters in more than 50 specialized practice areas across 14 domestic and international offices.

Atlanta | Austin | Charlotte | Chicago | Jacksonville | London | Los Angeles | Miami | Milan | Munich | New York | Southampton | Tampa | Washington, D.C.

Learn more about us at sgrlaw.com.

17

SILVER SPONSORS

18

SENIOR SECURED FINANCE | CASH FLOW FINANCE | TECHNOLOGY FINANCE | CHANNEL FINANCE | RETAIL FINANCE

DONE DEAL. Comprehensive Financing Solutions

PNC BUSINESS CREDIT offers customized financing solutions in support of acquisitions, refinancings, expansion and business transformation throughout the U.S., Canada, the UK and Europe. Our industry-leading professionals develop creative, flexible solutions to meet your company’s unique needs. Results matter.

Learn more at pnc.com/donedeal or contact Virginia Kiseljack at 404-202-6556 or virginia.kiseljack@pnc.com.

PNC and PNC Bank are registered marks of The PNC Financial Services Group, Inc. (“PNC”).

Finance products and services are provided by PNC Bank, National Association (“PNC Bank”), a wholly-owned subsidiary of PNC and Member FDIC. Asset-based finance is provided by PNC Business Credit, a senior secured finance division of PNC Bank, and its subsidiaries. In Canada, PNC Bank Canada Branch, the Canadian branch of PNC Bank, provides bank deposit, treasury management, finance (including asset-based finance) and leasing products and services. Deposits with PNC Bank Canada Branch are not insured by the Canada Deposit Insurance Corporation or by the United States Federal Deposit Insurance Corporation. In the UK, finance products are provided by PNC Financial Services UK Ltd., which is an indirect wholly-owned subsidiary of PNC Bank.

Finance and leasing products and services, as well as certain other banking products and services, require credit approval. ©2025 The PNC Financial Services Group, Inc. All rights reserved.

CIB BC PDF 0124-088-2406101

19

HYDRATION SPONSOR RELATIONSHIP-FOCUSED TRANSACTION ADVISORY SERVICES Warren Averett combines relationship-focused corporate values with deep technical strength and experience. We work to identify potential deal killers early in the process, before significant resources have been expended. Based on our findings, we can make the necessary adjustments to keep your transaction strategy on course.

Hanny Akl, CPA, CFE, CEPA, CVGA Hanny.Akl@warrenaverett.com 205.769.3306

Warren Averett proudly supports ACG Atlanta.

20

Florida | Alabama | Georgia | www.warrenaverett.com

HEADSHOT SPONSOR

Buy-Side.

Sell-Side.

Your Side.

TM

moorecolson.com 21

LANYARD SPONSOR

Global to see the big picture.

Local to understand it.

Providing clarity. Building confidence. forvismazars.us Assurance | Tax | Consulting

22

CONTENT SPONSORS

23

Focused on your needs

Supporting CFOs

In All Critical Functions

Local knowledge.

Global reach.

ACCOUNTING CONSULTING TRANSFORMATION RISK MANAGEMENT

for Global M&A by MergerMarket

AMERICA EUROPE ASIA-PACIFIC

Ranked #6 Selected as a

“Regional Powerhouse” in Georgia

by Law360 2023 and 2024

In 2023, we acted for: CLAIM YOUR FREE “NAILING THE EXIT” WHITEPAPER:

75 of the US Fortune 100 129 of the US Fortune 200 57 of the FTSE 100 eversheds-sutherland.com © Eversheds Sutherland Ltd. 2025. Attorney Advertising.

Fifth Third Bank proudly sponsors ACG Atlanta M&A South

Marsh McLennan Agency is your partner in people and risk.

See how we can help you enhance your earnings and protect your investments at MarshMMA.com Business Insurance | Employee Health & Benefits | Private Client Services Retirement & Wealth | Surety

Fifth Third Bank, National Association, Member FDIC.

24

Copyright © 2023 Marsh & McLennan Agency LLC. All rights reserved. MarshMMA.com

Maximizing the Lifecycle of Your Investment

Growing with you

With 350+ corporate attorneys across 30+ offices, we provide insights and guidance to help clients succeed.

POWER IN THE PLUSTM

troutman.com

withum.com/ma

25

BOOTH EXPERIENCE SPONSORS

26

Buy-Side.

Sell-Side.

Your Side.

TM

moorecolson.com

Tr uist C o r po r a te T r ust a nd Esc ro w Ser v ices Simplify and streamline your M&A escrow management.

At Truist Corporate Trust & Escrow Services, our team of escrow specialists brings a depth of knowledge and insights that span a wide range of escrow needs. We deliver a seamless experience with a dedicated single point of contact, rapid turnaround time, and overall responsive end-to-end escrow services.

To learn more about how we can support your transaction, contact: Deb Spitale | Senior Vice President | deb.spitale@truist.com

truist.com/CTES Truist Wealth is a name used by Truist Financial Corporation and affiliates. Banking products and services, including loans, deposit accounts, trust and investment management services provided by Truist Bank, Member FDIC. Securities, brokerage accounts, insurance/annuities offered by Truist Investment Services, Inc. member FINRA, SIPC, and a licensed insurance agency where applicable. Life insurance products offered by referral to Truist Insurance Holdings, Inc. and affiliates. Investment advisory services offered by Truist Advisory Services, Inc., Sterling Capital Management, LLC, and affiliated SEC registered investment advisers. Sterling Capital Funds advised by Sterling Capital Management, LLC. ©2022 Truist Financial Corporation. Truist, Truist Purple, and the Truist logo are service marks of Truist Financial Corporation.

27

GELATO SPONSOR

Helping Opportunity Take Shape CadenceBank.com ©2025 Cadence Bank. All Rights Reserved. Member FDIC. Equal Opportunity Lender.

28

WOMEN’S CHAMPAGNE TOAST

Growing companies shape the future.

At Burr & Forman, we view the practice of law as a catalyst for helping companies grow, connect, and enrich the communities they serve.

We are proud to sponsor the ACG M&A South Women's Champagne Toast and support its mission to foster meaningful relationships and drive business growth in our region. Drawing on a century-long history, we bring a creative and future-focused approach to those we serve, enabling us to deliver results that matter.

1075 Peachtree Street NE, Suite 3000 | Atlanta, GA 30309 No representation is made that the quality of the legal services to be performed is greater than the quality of the legal services performed by other lawyers.

Nida Rizvi (404) 684-4325 nrizvi@burr.com

burr.com 29

NIGHTCAP SPONSOR

L O S

A N G E L E S Since 2017

Welcome to a better way to fly commercial.

AT L A N TA

DAL L AS F ORT WORTH

M I A M I

Since 2023

Spring 2026

Spring 2026

PS offers a back door to your commercial aircraft, private TSA security screening and customs clearance, luxury spaces, chef prepared meals and white-glove service before and after your flight.

Inquire about membership

30

reserveps.com/acg

COFFEE SPONSOR

Founded in 2006, Riveron professionals simplify and solve complex business problems. We partner with CFOs, private equity firms, and other stakeholders to maximize outcomes. Riveron teams bring industry perspective and a full suite of solutions focused on the office of the CFO, M&A, and distress.

Sasha Morozova Senior Managing Director, Atlanta Market Leader sasha.morozova@riveron.com

Brad Dupree Director, Business Development brad.dupree@riveron.com

Accounting Advisory

Accounting & Finance Operations

Capital Markets Advisory

Performance Improvement

Restructuring & Turnaround

Strategic Communications

ESG Consulting

Governance, Risk & Compliance

Interim Management

Tax Advisory

Technology Enablement

Transaction Services

RIVERON.COM

31

WIRELESS SPONSOR Transaction Advisory & Readiness Support Customer and Operational Experience Emissions Consulting and Reporting Federal and State Credits & Incentives Outsourced Accounting Advisory Risk Advisory Services Audit and Tax Compliance

32

GIVEAWAY SPONSOR

Partners For Private Equity to Accelerate Growth Our Growth Pros Deliver Value Creation and Execution Plans That Accelerate and Enable Effective Transformation.

FINANCE • ACCOUNTING • HUMAN RESOURCES Strategic Advisory & Consulting Fractional & Interim Services

growthoperators.com

33

CHARGING SPONSOR

34

BRONZE SPONSORS

35

Specialty Manufacturing Energy Health Care Timber Food Processing Chemicals Pharmaceuticals Banking Specialty Software Consumer Products and Services Adams and Reese is an Am Law 200 firm with more than 300 attorneys and advisors strategically located in 20 offices across 10 states and Washington, DC. The focus of our Mergers & Acquisitions and Financing Practices is the middle market. We regularly represent strategic and financial market participants in acquisitions, dispositions, equity and debt offerings, and financing transactions ranging from $10 million to more than $1 billion.

Partner with Aprio for Deal Flow, Value Creation and Growth Acceleration Aprio is the trusted partner for private equity firms seeking to unlock value, accelerate growth, and access exceptional deal flow opportunities. Across industries—manufacturing and distribution, technology, government contracting, and healthcare—we deliver financial and tax insights, and operational and technology enhancements that drive measurable results, helping PE firms identify opportunities and maximize portfolio company performance.

For more information, contact:

Office Locations Other Bar Admissions

Michael Levy

Cardell McKinstry

Partner-in-Charge, Private Equity Services michael.levy@aprio.com 770.353.7168

Partner, Private Equity Services cardell.mckinstry@aprio.com 770.353.2760

adamsandreese.com ALABAMA | COLORADO | FLORIDA | GEORGIA | LOUISIANA | MISSISSIPPI NORTH CAROLINA | SOUTH CAROLINA | TENNESSEE | TEXAS | WASHINGTON, DC

The trust company that earns it year after year.

Argent Institutional Trust Company (Formerly TMI Trust) is a leading provider of trust, escrow, loan, and agency services to capital markets, corporate finance, securities, and government finance markets.

Together with Argent Financial Group, we are proud to be one of the largest independent fiduciary wealth management and trust firms in the US.

Trust Ingrained.

aitc.argentfinancial.com (800) 241-5568

Learn more at Aprio.com

FILL TALENT GAPS IN AS LITTLE AS 48 HOURS. ACCESS 4,000+ ON-SHORE CPA PROFESSIONALS. PRE-VETTED AND ON DEMAND.

Why work with us?

FLEX UP FOR TECHNICAL PROJECTS

BOOST EFFICIENCY

ONBOARD BIG-4 TALENT

We are a nationwide, scalable staffing solution that connects firms with top, on-shore talent.

Your Growth in Fast Forward A DV I S O RY | A S S U R A N C E | TA X At Cherry Bekaert, we’re reimagining the future of middle-market businesses by activating innovation with digitally enabled, end-to-end transformation solutions.

Our goal is to guide you forward no matter the direction you’re headed.

Trusted by Top Firms Since 2014 cbh.com

Reach even the most ambitious possibilities With our expert advice and tailored solutions, we can help you build a lasting legacy.

Our team is ready to help you achieve your goals.

Commercial Banking | Capital Markets | Private Wealth

Connect with us at us.cibc.com/ambitions or contact our Atlanta-based team to begin a discussion: patrick.putman@cibc.com timothy.roberts@cibc.com jamie.coleman@cibc.com The CIBC logo is a registered trademark of CIBC, used under license.

CIBC Bank USA, Member FDIC. Securities and other investment products are: not a deposit; not FDIC insured; not insured by any federal government agency; not guaranteed by CIBC Bank USA or any of its affiliates; and may be subject to investment risk, including possible loss of value. Capital Markets products and services provided by CIBC World Markets Corp., FINRA and SIPC member, and certain affiliates.

37

Go Further, Faster.

Fulcrum is a growth equity firm that gives B2B software and healthcare entrepreneurs both the capital and the hands-on help they need to take their companies further, faster.

Our Approach The Right Experience

The Right Support

The Right Relationship

From partners that

For everything from

With someone who

have done it before to an ecosystem of expert

high-level growth strategies to tactical

always has your back and provides the right

advisors and investors

best practices across

level of support and

with significant

all areas of business

autonomy.

operating experience.

operations.

Let’s do this right

Investment Criteria We invest $5-30M of equity in minority and majority growth opportunities.

Hear from our CEOs on our website:

Discover the largest & most varied middle-market portfolio in the industry We ensure every privately-held business we work with is buyer readyand represented by an experienced dealmaker.

38

dealforce.com

GFData_Print_Full_5-9rev2.pdf

2

5/10/22

1:43 PM

STOP GUESSING

Get Real Values from Actual Deals No Guessing.

No Extrapolation.

When it comes to valuing M&A transactions in the middle market, no other source provides the level of quality and granularity as GF Data.

GF Data provides the most reliable data on private-equity sponsored M&A transactions with enterprise values of $10 million – $500 million.

Uncover proprietary transactional information provided by an established pool of private equity groups on a blind and confidential basis.

Obtain accurate and up-to-date information to value and assess middle-market businesses.

To learn more about subscribing or contributing, scan the code or contact bdunn@acg.org.

GFData.com

G F D a t a i s p ro u d to b e p a r t o f t h e AC G fa m i l y.

Holland & Knight is proud to sponsor the

ACG M&A South Conference.

Connect with our team members at this year’s conference to learn more about HK Deal FlowSM and reach out for a meeting.

is proud to sponsor

M&A SOUTH 2025

Alvin Johnson, Partner Atlanta | +1.404.817.8496 alvin.johnson@hklaw.com

Ashley Plemons, Partner Atlanta | +1.404.898.8146 ashley.plemons@hklaw.com

Trevor Ruff, Partner Atlanta | +1.404.817.8425 trevor.ruff@hklaw.com

Roth Kehoe, Partner Atlanta | +1.404.817.8519 roth.kehoe@hklaw.com

Kevin Gooch, Partner Atlanta | +1.404.817.8473 kevin.gooch@hklaw.com

Patrick Murphy, Partner Chattanooga | +1.423.682.6265 pat.murphy@hklaw.com

Rachel Fink, Partner Atlanta | +1.404.898.8106 rachel.fink@hklaw.com

Jose Gabaldon, Director of Client Relations – Private Equity Miami | +1.305.789.7509 jose.gabaldon@hklaw.com

Liz Garrett, Assistant Director of Deal Flow Stamford | +1.203.905.4540 elizabeth.garrett@hklaw.com

www.hklaw.com/hkdealflow Copyright © 2025 Holland & Knight LLP All Rights Reserved

39

Because sometimes capital hides in plain sight.

Leveraging collateral can be a powerful way to secure financing.

An asset-based loan from Huntington Business Credit® can help with acquisitions, growth, recapitalization, cyclical needs, and more. We’ve financed solutions for hundreds of companies across wholesale, distribution, manufacturing, and retail to name a few.

We are a proud sponsor of SFNet's Asset-Based Capital Conference 2025.

Contact us today to learn more: , Vice President (216) 515-07 | @huntington.com

On target. Beyond expectations.

Visit ksmcpa.com/transactions and discover why – when the stakes are

Akron | Atlanta | Boise | Boston | Charlotte | Chicago | Cincinnati | Cleveland Columbus | Dallas | Denver | Detroit | Los Angeles | Milwaukee | Minneapolis Philadelphia | Pittsburgh | San Francisco | Sarasota | St. Louis | Washington D.C.

high – private equity firms, strategic buyers, family offices, and lenders want KSM by their side.

Loans subject to credit application and approval.

The Huntington National Bank is Member FDIC. ⬢®, Huntington®, ⬢ Huntington® and Huntington Business Credit ® are federally registered service marks of Huntington Bancshares Incorporated. © 2025 Huntington Bancshares Incorporated. 12/24

Strategic Consulting: Market Studies, Commercial Due Diligence, Portco Growth, and Custom Research for Deals of Any Size

Ask Us About Our Complimentary CIM/CIP Review OOer

JOSH EMINGTON

Josh.Emington@martecgroup.com (248) 327-8024

40WWW.MARTECGROUP.COM

ONE-PAGER

ksmcpa.com/transactions

GROWING POWER.

Trusted counsel for your legal matters.

CORPORATE | COMMERCIAL | LITIGATION

millermartin.com

CUT THE COMPLEXITY. NAIL THE POSITIONING. SAY IT LIKE A HUMAN.

Invested in your success.

Like other firms, we put a premium on technical expertise, but we also emphasize our people, their experience, and our culture. See how our experts will work with you.

plantemoran.com

Ready to breakthrough and move into the next chapter of your company’s success story?

We Thought So.

DELIVERING BEST-IN-CLASS CONSULTING SERVICES

YOUR TRUSTED FINANCIAL PARTNER SINCE 1938

Growth starts with insights, success grows with Sapling.

BUSINESS INTELLIGENCE

Your one-stop solution to all your financing needs. www.rosenthalinc.com

DUE DILIGENCE

FP&A

FINANCIAL MODEL BUILD

LET’S TALK https://saplingfinancial.com/ Sapling Financial Consultants Inc.

ASSET BASED LENDING

FACTORING

PURCHASE ORDER FINANCING

EQUIPMENT FINANCING

(416) 625–2633

41

and With TD Commercial Banking, you get ands, not ors.

Get big bank expertise and the personal relationship you want.

Let’s work together.

Kory Wilcox Head of Financial Sponsor Coverage & Buy-Side Loan Syndication

Kory.Wilcox@td.com tdbank.com/CommercialBanking

M&A Advisory

Sell-side and Buy-side

Capital Raising

Growth Capital, Liquidity and Refinancing

Financial & Strategic Advisory Board & Special Committee

Advice, Spin-offs and Carve-outs

Boutique mindset.

Bespoke strategies.

VRA is a boutique investment bank committed to providing M&A, capital raising and strategic advisory services to business owners and executive teams interested in achieving new levels of growth or navigating key periods of transition.

650+

Completed Transactions

$50+B

Transaction Value

18+yrs Together

Contact Us

Member FDIC, TD Bank, N.A., Equal Housing Lender All rights reserved. The TD logo and other trademarks are owned by the Toronto-Dominion Bank and used under license.

vrapartners.com VRA Partners, LLC is a Member FINRA/SIPC

DOUG MCCARTNEY, Managing Director 404 835 1006 dmccartney@vrapartners.com

UNLOCKING VALUE AT EVERY STAGE OF PRIVATE EQUITY INVESTMENT

At Windham Brannon, we understand the fast-paced, high-stakes world of private equity. Our dedicated team of advisors partners with firms and portfolio companies to maximize value, streamline operations, and uncover new growth opportunities.

LAURA BERRY

Principal-in-Charge, Advisory 678.510.2790 lberry@windhambrannon.com

42

windhambrannon.com

Applications are open! $15M+ in Revenue HQ’d in Georgia

SPONSOR Apply before March 15 for the DIRECTORY Georgia Fast 40 Honoree Celebration acg.org/atlanta/events/2025-georgia-fast-40-awards-celebration

43

SUPPORTING SPONSORS

44

Thank You! See why many BankUnited is proud to support

of the most admired

ACG Atlanta

private equity firms

Thank you for helping professionals in our community expand their network and drive corporate growth.

trust CarterBaldwin with their critical leadership needs.

www.carterbaldwin.com

EXPERTISE ON DEMAND Centri provides the highest quality advisory consulting services to our clients by being reliable and responsive to their needs. We help our clients recognize potential problems sooner, not only to solve for the risks of today, but similarly, to foresee their imminent challenges.

OUR SERVICES SEC Financial Reporting &

Risk Advisory

Compliance

Tax Advisory

Capital Markets Readiness

Accounting Transformation

Technical Accounting

M&A Advisory

Audit Readiness

Outsourced Accounting

Valuation

HR Advisory

CentriConsulting.com | info@CentriConsulting.com

45

Cuesta Partners is a technology advisory firm focused on preserving and growing enterprise value

About Us Our Approach Founded in 2019

Resources across North & South America

Multiple ex-CTOs & Product Managers

Customers ranging from mid-market to Fortune 50

Operators Who Have Been There: As former operators and owners, we know the pressure to get it right and the value of straightforward, expert advice.

Your Business. Your Goals: How does technology work for your business? We’re going to know your goals and do whatever it takes to help you achieve them.

A Grounded Technology Mindset: We understand how technology can differentiate, but we also know where it can lead you astray.

We’re going to plan around the tech that actually works for you.

Our Services Mergers & Acquisitions Technology Strategy

Technology Diligence

Data & AI

Product Diligence

Data & AI Strategy Model Deployment

IT Strategy

Product Roadmap

Product Line Strategy

Delivery & Transformation

Agile Transformation Program Delivery

Our Areas of Digital Expertise

Software System Product & Program and Platforms Management

Data

Cybersecurity

dlapiper.com

Infrastructure + 1 Cloud Platforms

Going Further.

Navigating the complexities of mergers and acquisitions can be daunting. From analyzing tax implications to assessing financial risks, the challenges involved in these transactions require careful planning and expertise. Whether you're considering an acquisition, planning a divestiture, or preparing for a future business transition, our team has the knowledge and experience to empower your organization with informed strategies and a streamlined path to closing.

With a strong focus on due diligence, valuation, and transaction tax services, M&J Corporate Finance ensures every aspect of your deal is handled with precision, unlocking value and driving success at every stage.

46

We help our clients succeed, embracing change and seizing opportunity to achieve exceptional results together.

Data Platform Build

Portfolio Value Creation

Technology Roadmap

Partners in excellence.

mjcpa.com 770.955.8600

Gerry Williams | ATTORNEY ADVERTISING | MRKT0013780

47

Atlanta ACG M&A SOUTH 2025 SPONSOR DIRECTORY Adams and Reese, LLP 3424 Peachtree Road NE Suite 1600 Atlanta, GA 30326 USA adamsandreese.com

Carter Baldwin 100 Kimball Place Suite 225 Alpharetta, Georgia 30009 carterbaldwin.com

Eversheds Sutherland 999 Peachtree Street Northeast Atlanta, GA 30309 USA eversheds-sutherland.com/en/unitedstates

Aprio 2002 Summit Boulevard Suite 120 Atlanta, GA 30319 USA aprio.com

Centri Consulting 1175 Peachtree St NE Suite 1000 Atlanta, GA 30361 centriconsulting.com

Fifth Third Bank 3344 Peachtree Road NE Suite 900 Atlanta, GA 30326 USA 53.com/content/fifth-third/en.html

Argent Institutional Trust Company 5901 Peachtree Dunwoody Road Suite C495 Atlanta, GA 30328 aitc.argentfinancial.com

CFGI 1 Lincoln Street Suite 1301 Boston, MA 02111 cfgi.com

FORVIS 191 Peachtree Street NE Suite 2700 Atlanta, GA 30303 USA forvis.com/about-us/locations/atlanta-ga

Bank of America 3455 Peachtree Rd NE 12th Floor Atlanta, GA 30326 USA bankofamerica.com

Chamberlain Hrdlicka 191 Peachtree St NE 46th Floor Atlanta, GA 30303 chamberlainlaw.com

Frazier & Deeter 1230 Peachtree Street Suite 1500 Atlanta, GA 30309 USA frazierdeeter.com

Bank OZK 3215 Peachtree Road Ne Atlanta, GA 30305 ozk.com

Cherry Bekaert 1075 Peachtree St NE Atlanta, GA 30309 USA cbh.com

BankUnited 3500 Lenox Rd NE #720 Atlanta, GA 30326 bankunited.com

CIBC Bank US The Forum at West Paces 3290 Northside Parkway NW 7th Floor Atlanta, GA 30327 USA us.cibc.com/en/home.html

Fulcrum Equity Partners 5555 Glenridge Connector Suite 930 Atlanta, GA 30342 USA fulcrumep.com

Beech Valley Solutions 834 Inman Vlg Pkwy NE STE 230 Atlanta, GA 30307 USA beechvalley.com Bennett Thrasher 3300 Riverwood Pkwy #700 Atlanta, GA 30339 btcpa.net Burr & Forman, LLP 1075 Peachtree St NE Suite 3000 Atlanta, GA 30309 burr.com Cadence Bank 999 Peachtree St NE #2600 Atlanta, GA 30309 USA cadencebank.com Carr Riggs & Ingram 4004 Summit Boulevard NE Suite 800 Atlanta, GA 30319 USA cricpa.com

48

Citizens M&A Advisory 3550 Lenox Road NE Three Alliance Center, Suite 1200 Atlanta, GA 30326 USA citizensbank.com/homepage.aspx City National Bank 3280 Peachtree Rd Suite 150 Atlanta, GA 30305 cnb.com Croft & Bender 4401 Northside Pkwy Suite 395 Atlanta, GA 30327 USA croft-bender.com Cuestra Partners 159 North Sangamon St Ste 200 Chicago, IL 60607 cuestapartners.com DLA Piper 1201 W Peachtree St NE # 2800 Atlanta, GA 30309 dlapiper.com (as of 1/16/25)

GeniusMesh 2972 Webb Bridge Rd Alpharetta, GA 30009 geniusmesh.com GF Data 227 West Monroe Street Suite 2100 Chicago, IL 60606 gfdata.com Grata 1410 Broadway FL 2 New York, NY 10018 grata.com Great Rock Capital Partners 3348 Peachtree Road NE Suite 725 Atlanta, GA 30326 USA greatrockcapital.com Growth Operators 800 Lasalle Avenue Suite 1620 Minneapolis, MN 55402 USA growthoperators.com Holland & Knight 1180 W Peachtree St NW STE 1800 Atlanta, GA 30309

Atlanta ACG M&A SOUTH 2025 SPONSOR DIRECTORY Huntington Bank 600 TownPark Lane Suite 390 Kennesaw, GA 30144 huntington.com KSM 800 East 96th Street Suite 500 Indianapolis, IN 46240 ksmcpa.com Marsh McLennan Agency 5555 Glenridge Highlands One Sandy Springs, GA 30342 USA marshmma.com Martec 1603 Orrington Avenue Suite 305 Evanston, Illinois 60201 https://martecgroup.com/ Maudlin & Jenkins 200 Galleria Dr SE # 1700 Atlanta, GA 30339 mjcpa.com Miller & Martin Regions Plaza Suite 2100 1180 West Peachtree Street, N.W. Atlanta, GA 30309-3407 millermartin.com Moore Colson 600 Galleria Parkway SE Suite 600 Atlanta, GA 30339 USA moorecolson.com Nperspective CFO & Strategic Services 941 W. Morse Blvd.

Suite 100 Winter Park, FL 32789 USA nperspective.com P/S Reserve 1210 Toffie Terrace Atlanta, GA 30354, United States reserveps.com PitchMaps 400 Galleria Parkway Suite 1500 Atlanta, GA 30339 USA pitchmaps.com Plante Moran 27400 Northwestern Hwy. Southfield, MI 48034 USA plantemoran.com

PNC Business Credit 1075 Peachtree Street NE Suite 1900 Atlanta, GA 30309 USA pnc.com/en/corporate-and-institutional. html Riveron Consulting 3414 Peachtree Rd NE #850 Atlanta, GA 30326 USA riveron.com Rosenthal & Rosenthal , Inc. 3379 Peachtree Road Northeast Suite 330 Atlanta, GA 30326 USA rosenthalinc.com RSM LLP One Atlantic Center 1201 West Peachtree Street NW Suite 800 Atlanta, GA 30309 USA rsmus.com S&P Capital Market Intelligence 55 Water Street New York, New York 10041 spglobal.com/en Sapling Financial Consultants Inc 100 Sheppard Avenue East Suite 860 Toronto, ON M2N 6N5 Canada saplingfinancial.com/v3/

TriNet One Park Place Suite 600 Dublin, CA 94568 USA trinet.com Troutman Pepper Locke 600 Peachtree Street N.E. Suite 3000 Atlanta, GA 30308 USA troutman.com/offices/atlanta.html Truist 303 Peachtree Street NE 31st Floor Atlanta, GA 30308 USA truist.com/commercial-corporateinstitutional/strategic-advice/trustescrow-services Valuation Research 3525 Piedmont Rd NE Building 7 #300 Atlanta, GA 30305 USA valuationresearch.com Valuation Research Corporation 3344 Peachtree Road NE Suite 800 Atlanta, Georgia 30326 USA valuationresearch.com VRA Partners 3630 Peachtree Road NE Atlanta, GA 30326 USA vrapartners.com

Silverview Credit Partners 100 South Ashley Drive Suite 600 Tampa, FL 33602 USA silverviewcredit.com

Warren Averett 6 Concourse Parkway Suite 600 Atlanta, GA 30328 USA warrenaverett.com

Smith, Gambrell & Russell, LLP 1105 W. Peachtree St. NE Suite 1000 Atlanta, GA 30309 USA sgrlaw.com

Windham Brannen 3630 Peachtree St NE #600 Atlanta, GA 30326 https://windhambrannon.com/

Star Mountain Capital 140 East 45th Street 37th Floor New York, NY 10017 USA starmountaincapital.com

Withum 29 Old Lake Rd Hawthorn Woods, IL 60047 USA withum.com

TD Bank 104 S. Main Street Greenville, SC 29601 USA td.com/us/en/personal-banking TresVista tresvista.com

(as of 1/16/25)

49

P R E S E N T E D BY

M&A SOUTH 2025 Investor Profile Report PROFILES RECEIVED BEFORE 1/10/2025

50

Glossary Business Description: A description of the firm’s primary type, preferences and location. PitchBook is an impartial information provider and will remove promotional language.

All investments by industry: Graph of transactions by industry, represented in the PitchBook Platform. This breakdown is based on primary industries of the portfolio/serviced companies.

Assets under management (AUM): The amount of money that the investor manages for clients based on number of currently-managed funds.

Specific to Lender Profiles Total debt financings: The number of entities identified by PitchBook that received debt financing from the firm in the last five years.

Active private equity investments: The number of active companies in the investor’s current portfolio identified by PitchBook in the last five years. This includes add-on transactions.

Target debt financing amount: Preferred amount of debt typically provided by the firm in a transaction.

Specific to Service Provider Profiles

Total private equity investments: The total number of companies in the investor’s portfolio, identified by PitchBook in the last five years. This includes add-on transactions.

Total transactions: The number of transactions identified by PitchBook that the firm has provided service on in the last five years.

Target EBITDA: Preferred EDITDA range targeted for investment.

Total companies serviced: The number of unique companies the firm has provided service to in the last five years, identified

by PitchBook.

Target revenue: Preferred revenue range targeted for investment.

Preferred investment amount: Preferred investment amount range that the firm typically invests in a transaction.

Total investors serviced: The number of unique investors identified by PitchBook that the firm has provided service to in the last five years.

Recently closed investments: The top five recent investments or transactions serviced identified by PitchBook.

Target EBITDA: The EBITDA range for buy-side and sell-side target companies.

Most recent closed fund (Type, Size, Vintage): The most recently closed fund (The fund is no longer in a fundraising state and is not accepting additional commitments) identified by PitchBook.

Evergreen funds are not included.

Target transaction amount: The transaction amount range for buy-side and sell-side companies.

Disclaimer: This information is currently published in the PitchBook Platform or was provided by the firm for this conference.

2

51

EXHIBITOR

PAGE #

EXHIBITOR

PAGE #

Agellus Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54

Growth Operators. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98

Alpine Investors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55

Hamilton Robinson Capital Partners. . . . . . . . . . . . . . 99

Argosy Private Equity. . . . . . . . . . . . . . . . . . . . . . . . . . 56

Hancock Advisors. . . . . . . . . . . . . . . . . . . . . . . . . . . . 100

Artemis Transaction Advisors, LLC. . . . . . . . . . . . . . . 57

Harbor View Advisors, LLC.. . . . . . . . . . . . . . . . . . . . . 101

Avance Investment Management . . . . . . . . . . . . . . . . 58

Harris Williams. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102

Azalea Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59

Harvey & Company LLC . . . . . . . . . . . . . . . . . . . . . . . 103

Bank of America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60

Heartwood Partners. . . . . . . . . . . . . . . . . . . . . . . . . . 104

Benchmark International. . . . . . . . . . . . . . . . . . . . . . . . 61

Heritage Capital Group, Inc.. . . . . . . . . . . . . . . . . . . . 105

BlackArch Partners. . . . . . . . . . . . . . . . . . . . . . . . . . . . 62

Heritage Growth Partners . . . . . . . . . . . . . . . . . . . . . 106

Blue Sea Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63

Hidden Harbor Capital Partners. . . . . . . . . . . . . . . . . 107

Boyne Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64

Highland Rim Capital. . . . . . . . . . . . . . . . . . . . . . . . . . 108

Branford Castle Partners, L.P. . . . . . . . . . . . . . . . . . . . 65

Highview Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109

Bravaldo Capital Advisors. . . . . . . . . . . . . . . . . . . . . . . 66

Incline Equity Partners . . . . . . . . . . . . . . . . . . . . . . . . . 110

Burr & Forman . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67

IndustryPro. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111

Capital Alignment Partners. . . . . . . . . . . . . . . . . . . . . 68

Kensington Park Capital. . . . . . . . . . . . . . . . . . . . . . . . 112

Capitala Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69

Keystone Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113

Capstone Partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70

Kian Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114

Carousel Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71

KippsDeSanto & Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . 115

Caymus Equity Partners, LLC. . . . . . . . . . . . . . . . . . . . 72

KLH Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116

Centerfield Capital Partners. . . . . . . . . . . . . . . . . . . . . 73

Koch Enterprises, Inc.. . . . . . . . . . . . . . . . . . . . . . . . . . 117

CenterOak Partners . . . . . . . . . . . . . . . . . . . . . . . . . . . 74

KSM. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118

Chamberlain Hrdlicka. . . . . . . . . . . . . . . . . . . . . . . . . . 75

LaSalle Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119

Chatham Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76

LCG Advisors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120

CIBC Capital Markets . . . . . . . . . . . . . . . . . . . . . . . . . . 77

Lead Capital Partners. . . . . . . . . . . . . . . . . . . . . . . . . . 121

CIBC Commercial Bank. . . . . . . . . . . . . . . . . . . . . . . . . 78

LFM Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122

Clearview Capital L.P.. . . . . . . . . . . . . . . . . . . . . . . . . . 79

Lineage Capital, LLC. . . . . . . . . . . . . . . . . . . . . . . . . . 123

Cohere Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80

Loki Group, Inc.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124

Comvest Partners. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81

LXP. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125

Configure Partners. . . . . . . . . . . . . . . . . . . . . . . . . . . . 82

Main Street Capital Corporation . . . . . . . . . . . . . . . . 126

CORE Industrial Partners . . . . . . . . . . . . . . . . . . . . . . . 83

Mangrove Equity Partners . . . . . . . . . . . . . . . . . . . . . 127

Cortec Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84

Marsh McLennan Agency. . . . . . . . . . . . . . . . . . . . . . 128

Croft & Bender LP. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85

Maudlin & Jenkins. . . . . . . . . . . . . . . . . . . . . . . . . . . . 129

Crossplane Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86

Mazzone & Associates . . . . . . . . . . . . . . . . . . . . . . . . 130

De NES Partners, LLC. . . . . . . . . . . . . . . . . . . . . . . . . . 87

MFG Partners. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131

Deerpath Capital Management . . . . . . . . . . . . . . . . . . 88

MiddleGround Capital. . . . . . . . . . . . . . . . . . . . . . . . . 132

Dinan & Company LLC. . . . . . . . . . . . . . . . . . . . . . . . . . 89

MKH Capital Partners. . . . . . . . . . . . . . . . . . . . . . . . . 133

Dinan Capital Advisors. . . . . . . . . . . . . . . . . . . . . . . . . 90

Moore Colson. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134

Duke Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91

New Heritage Capital . . . . . . . . . . . . . . . . . . . . . . . . . 135

Eagle Merchant Partners . . . . . . . . . . . . . . . . . . . . . . . 92

New State Capital Partners . . . . . . . . . . . . . . . . . . . . 136

Fidus Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93

New Water Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . 137

Gemspring Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94

Northcreek Mezzanine Fund . . . . . . . . . . . . . . . . . . . 138

Genesis Capital, LLC. . . . . . . . . . . . . . . . . . . . . . . . . . . 95

Northmarq. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139

Genesis Park . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96

Norwest Venture Partners. . . . . . . . . . . . . . . . . . . . . 140

Great Rock Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . .97

Petra Capital Partners. . . . . . . . . . . . . . . . . . . . . . . . . . 141

52

EXHIBITOR

PAGE #

PGIM Private Capital. . . . . . . . . . . . . . . . . . . . . . . . . . 142 Piper Sandler. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143 Plante Moran. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144 Plexus Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145 PNC Business Credit. . . . . . . . . . . . . . . . . . . . . . . . . . 146 Porter, White & Company, Inc.. . . . . . . . . . . . . . . . . . 147

EXHIBITOR

PAGE #

Wildcat Capital Management . . . . . . . . . . . . . . . . 186 Windha Brannon . . . . . . . . . . . . . . . . . . . . . . . . . . .187

Windjammer Capital . . . . . . . . . . . . . . . . . . . . . . . . . 188 Agellus Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 189 Industrial Device Investments. . . . . . . . . . . . . . . . . . . 190 Transworld Business Advisors. . . . . . . . . . . . . . . . . . . 191

RAF Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148 Reynolda Equity Partners. . . . . . . . . . . . . . . . . . . . . . 149 Ridgemont Equity Partners. . . . . . . . . . . . . . . . . . . . . 150 River Associates Investments, LLC. . . . . . . . . . . . . . . 151 Riverarch Equity Partners. . . . . . . . . . . . . . . . . . . . . . 152 Rockwood Equity Partners. . . . . . . . . . . . . . . . . . . . . 153 Rosenthal & Rosenthal . . . . . . . . . . . . . . . . . . . . . . . . 154 Route 2 Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155 Sapling. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156 Saw Mill Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157 SCG Partners. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158 Smith Gambrell Russell. . . . . . . . . . . . . . . . . . . . . . . . 159 Shoreline Equity Partners. . . . . . . . . . . . . . . . . . . . . . 160 Sky Island Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161 Sole Source Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . 162 Source Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 SouthPointe Ventures, LLC. . . . . . . . . . . . . . . . . . . . . 164 Sterling Investment Partners. . . . . . . . . . . . . . . . . . . 165 Stonehenge Partners, Inc. . . . . . . . . . . . . . . . . . . . . . 166 Tamarix Capital Partners . . . . . . . . . . . . . . . . . . . . . . 167 Tenex Capital Management. . . . . . . . . . . . . . . . . . . . 168 The Riverside Company. . . . . . . . . . . . . . . . . . . . . . . 169 Third Century Investment Associates II, LP . . . . . . . 170 Thompson Street Capital Partners . . . . . . . . . . . . . . . 171 TM Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172 Tower Arch Capital LP. . . . . . . . . . . . . . . . . . . . . . . . . 173 TresVista. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174 Trinet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175 Trinity Hunt Partners. . . . . . . . . . . . . . . . . . . . . . . . . . 176 Trive Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177 TrueNorth Capital Partners . . . . . . . . . . . . . . . . . . . . 178 TruSight, LLC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179 Two Roads Partners . . . . . . . . . . . . . . . . . . . . . . . . . . 180 Valuation Research Corporation . . . . . . . . . . . . . . . . . 181 VSS Capital Partners. . . . . . . . . . . . . . . . . . . . . . . . . . 182 Walden Mergers & Acquisitions. . . . . . . . . . . . . . . . . 183 WestView Capital Partners. . . . . . . . . . . . . . . . . . . . . 184 WhiteHorse Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . 185

53

,-'(,% ./ 0#-,1 % -(/ 2*-/

,345678394:;854</$38=:> .C4</)3;:C3;4Y/(CCH;5J/0<4:78396/V/#EEL*56

ZN/L/ZN[+/ 87/%M@,.#/0<4:78396

MFB/45E/KF;<E/6:34:CJB/ ;5/>;J><B/734J9C5:CE/;5EF6:3;C6

28F5EC3O/749;<BO/A83I834:CO/ ;56:;:F:;854</6C<<C36

'(/45E/)454E4/ K46CE/A89I45;C6

*II83:F5;:B/783/:345678394:;854</ 83J45;A/45E/4ARF;6;:;DC/J38=:>

+4\83;:B/A85:38< ;5DC6:9C5:6/

N^^_

)43CC3/EC4<6/A<86CE KB/6C5;83/:C49

Z]^^+

W`_

2F5E/@/ A899;::CE/A4I;:4<

aC436/A89K;5CE/0%/ ;5DC6:9C5:/>;6:83B

,43JC:/?C3:;A4<6/;5/%66C5:;4<O/185L.;6A3C:;8543B/(C3D;AC6 !"#$%&##'()' !"#$%&##*+&,-$.&#*

/)%'0$#.,&($)%1,2* 3)%#"4&,*+&,-$.&#

+"5562*371$%8*9:;8*1%<* =%>,1#(,".(",&*+&,-$.&#

?%-,@)#&(

24A;<;:B/(C3D;AC6 0387C66;854</(C3D;AC6 @5EF6:3;4</(C3D;AC6

G89C/(C3D;AC6 #F:898:;DC/#7:C3943HC:

,3456I83:4:;85/45E/&8J;6:;A6 @57346:3FA:F3C/(C3D;AC6 (ICA;4<:B/.;6:3;KF:;85

,G%(@(

+;66;85LA3;:;A4</6C3D;AC6/45E/ :CA>58<8JB/783/A83I834:C/45E/ J8DC359C5:/AF6:89C36/KC5C7;:;5J/ 7389/8F:68F3A;5J/45E/3CJF<4:;85

MN)/>89C/45E/4F:8/6C3D;AC6O/ =>;A>/KC5C7;:/7389/585ABA<;A4</ EC945E/87/4J;5J/6:8AH/45E/ J38=;5J/5CCE/783/.@2+

$38=;5J/6FII<B/A>4;5/A89I<CP;:B/ 7389/CLA899C3ACQ/;5DC6:9C5:6/;5/ ;57346:3FA:F3C/3CRF;3CE/7389/EC7C33CE/ ;5DC6:9C5:/45E/94A38/:4;<=;5E6

%S#+0&%/ +#-T%,(

 2;3C/45E/&;7C/(47C:B

 &4=5/)43C

 +454JCE/&8J;6:;A6/U/W0&

 @,/+454JCE/(C3D;AC6

 0C6:/)85:38<

 ,;9C/)3;:;A4</U/,;9C/.C7;5;:C

 0<F9K;5J/45E/G?#)

 )8<<;6;85/-CI4;3/V/&FKC

 !43C>8F6;5J/2F<7;<<9C5:

 -887;5J

 G?#)/U/0<F9K;5J/U/%<CA:3;A4<

 G4X43E8F6/+4:C3;4<6/,3456I83:4:;85

 %5D;3859C5:4</(C3D;AC6

 #F:8/(C3D;AC6

 #6I>4<:/04D;5JO/-84E/(:3;I;5J

 @56ICA:;85/U/+4;5:C545AC/

 .883/V/!;5E8=

 !46:C=4:C3/U/(C=C3/(C3D;AC6

 )856F<:;5JO/M0*O/45E/(:477;5J/

 28F5E4:;85/V/)34=<6I4AC

 #J3;AF<:F34</(C3D;AC6

 ,CA>/%54K<CE/(C3D;AC6

 $F::C3/U/08=C3/!46>;5J

 ?4<FCL4EECE/.;6:3;KF:;85

@5DC6:9C5:/*II83:F5;:;C6/)85:4A: ?"#($%*+4$(7

+454J;5J/.;3CA:83O/MF6;5C66/.CDC<8I9C5: \69;:>b4JC<<F6"A89

(C5;83/.C4</,C49 ?&>>*@$&66) )8L28F5EC3/45E/+454J;5J/043:5C3

?),<1%*A,)71#B1 03;5A;I4< !!!"#$%&&'(")*+

54

!&1"*97)41# )8L28F5EC3/45E/+454J;5J/043:5C3

55

L#(2"#$'8+?#$8K)"%

?J#"8+,%"1+>%(8)*+ M)8)+?#$8K)"%

,%*%9#1+.+O8'*'8'%&+?#$8K)"%

N#@%"()(9%+M)8)+ ?#$8K)"%

7#-'&8'9&+?#$8K)"%

>)F'#*#-:+I1)-%+!"#9%&&'(-+ ?#$8K)"%

>%)*+/&8)8%+,%9J

B%)*8J+.+B<1)(+?%"@'9%&+ ?#$8K)"%

7#9)8'#(+=()*:8'9&+ ?#$8K)"%

/(8%"2"'&%+>%8)'*+ ?#$8K)"%

!"#2%"8:+H)()-%1%(8+ ?#$8K)"%

;<;7)5801./67!//!4

B#&2'8)*'8:+?#$8K)"%

!"#$%&'(

3456+7'8%")9:+ ;<""'9<*<1

3456 =&&%&&1%(8&

,"%%+;)"%+?%"@'9%&+.+!*)(8+ B%)*8J ;#11A+=99%&&+;#(8"#*&+.+ ?%9<"'8:+I(8%-")8#"&

(,-./01234

;#11A+BC=;D+!*<1E'(-D+ 7)(F&9)2'(-D+.+G)9'*'8'%&+ H)'(8%()(9%

B#1%+B%)*8J9)"%

,)04G#9<&%F+=99#<(8'(-+ G'"1&

/>!+I12*%1%(8)8'#(+ !)"8(%"&

>%&'+BC=;D+!*<1E'(-D+.+ /*%98"'9)*+?%"@'9%&

#156,7!5891.5:4

>%@%(<%+;:9*%+ H)()-%1%(8+ $#"+B%)*8J9)"%

;'@'*PI($")&8"<98<"% /(-'(%%"'(-+?%"@'9%&

H)()-%F+I,+?%"@'9%& QH?!&D+H??!&R

=82>5::123/67!5891.5:4

!(')*+(!

!"#$%&&'#()*+,")'('(-+.+ /0)1+!"%2

>%&'+>%&8#")8'#(+.+ H'8'-)8'#(+?%"@'9%&

>%&'+>##$'(-+?%"@'9%&

S%)*8J+=F@'&#":+P+>I=&

N#@%"(1%(8+.+ I(8%**'-%(9%+;#(8")98#"&

!"#$"%#& !"#$%&'(()*&+,-./0&1,"234%&567"40&83/&9%%#&:3,4#%,"#-&;"48&<.4"234%=&<3#3-%<%#4&4%3</&4.&"#2%/4&"#&$.<:3#"%/&;"48&/7/43"#39>%& $.<:%4"4"2%&3=23#43-%/&3#=&-,.;48&:,./:%$4/?&+,-./0&$3#&%@%$74%&=%3>/&.A&23,"%=&/"B%/&48,.7-8&3#&%@4%#/"2%&#%4;.,C&.A&:3,4#%,/*& "#$>7="#-&/%#".,&>%#=%,/*&<%BB3#"#%&=%94&:,.2"=%,/&3#=&%67"40&"#2%/4.,/?& D3#3-%<%#4&3#=&>%2%,3-%=&970E.74/ F%$3:"43>"B34".#/

G.,:.,34%&="2%/4"47,%/ Growth financings

H%#%,34".#3>&4,3#/"4".#/ D"#.,"40&,%$3:"43>"B34".#/

AB#!C6#5D>A6=E1

2

K7#=/

.345

1.,4A.>".& O#2%/4<%#4/

.678885

].9/&& &&&G,%34%=

-./01

F%3>"B34".#/

' 13/4&:%,A.,<3#$%&"/&#.4&"#="$34"2%&.A&A747,%&,%/7>4/*&;8"$8&<30&23,0?&^F%3>"B34".#/_&,%:,%/%#4&3>>&$3/8&:,.$%%=/&,%$%"2%=&48,.7-8&!%:4%<9%,&M)*& Y)Y`?&1>%3/%&/%%&G%,43"#&F"/C/&3#=&\"<"434".#/&.A&O#2%/4"#-&"#&1,"234%&567"40&3#=&3=="4".#3>&"<:.,43#4&="/$>3"<%,/&"#&48%&O#2%/4.,&1,%/%#434".#?&

567#89:!;<=>#?=@!6=@: K"#3#$"3>

F%2%#7%/&.A&7:&4.&L'))&<">>".# M&E&L')&<">>".#&.A&5NOPQ+ 5NOPQ+&<3,-"#/&.A&')R&.,&-,%34%,

O#2%/4<%#4&!4,7$47,%/

567"40&:>7/&/4,7$47,%=&/.>74".#/&$.2%,"#-&3>>&I7#".,&$3:"43>&#%%=/&

O#2%/4<%#4&+<.7#4/

$10 - $35 million, with capacity to finance larger investments

S;#%,/8":

G.#4,.>&:./"4".#/

O#2%/4<%#4&T.,"B.#

M&U&V&0%3,/

H%.-,3:80

W#"4%=&!434%/

O#=7/4,0&K.$7/

Business services and manufacturing with significant expertise in the following industries: +2"34".#*&+%,./:3$%&X&Q%A%#/% NYN&!%,2"$%/ N7/"#%//&K,3#$8"/"#G.#/7<%,ZF%/"=%#4"3>&!%,2"$%/

!"#$%&'(&&#)*+#%),*&-.*)-#"//"0-()%-%*&1#/2*3&*#'")-3'-4

!"#$%&'(%%)%*+", !"#$%&'()*''$+*,*-./0*)1 23$4567895784:;$$$$<3$=497=9;75>5: I$7##"#-83<J3,-./0$3:"43>?$.<

56

5#-"#%%,%=&D34%,"3>/ O#=7/4,"3>&5>%$4,.#"$/ O#=7/4,"3>&D3#7A3$47,"#["$8%&D3#7A3$47,"#-

O#=7/4,"3>&!%,2"$%/ P%$8E5#39>%=&!%,2"$%/ P,3#/:.,434".#&3#=&\.-"/4"$/

Artemis Transaction Advisors | Investment Bank Profile General Information Description Founded in 1997, Artemis Transaction Advisors is a boutique investment bank based in Chicago, Illinois, with additional offices in Atlanta, Georgia, and Dallas, Texas. The firm specializes in mergers and acquisitions, refinancing, private market financing, refinancing existing debt, raising equity capital, and valuations for middle-market companies. Artemis caters to consumer products, industrial products and services, food and beverage, business services, education services, healthcare and patient services, and technology sectors.

Website

www.artemis-ib.com

Year Founded

1997

Entity Type

Investment Bank

Employees

10

Also Known As

Artemis

Service Breakdown

Formerly Known As

Billow Butler & Company, L.L.C.

Legal Name

Artemis Transaction Advisors, LLC

Serviced Companies: 220 Serviced Deals: 150 Serviced Investors: 14

Service Provider Type

Investment Bank (Primary Type) Valuation Firm

Contact Information Primary Contact Darrell Butler

Primary Office 225 West Wacker Drive Suite 1575 Chicago, IL 60606 United States

Founder & Managing Director dmb@artemis-ib.com Phone: +1 (312) 559-1904

Phone: +1 (312) 559-9055

Preferences Transaction Amount $10.00M - $300.00M Preferred Industries

Geographical Preference

Preferred Deal Types

Preferred Verticals

Automotive, Beverages,, Consumer Durables, Distributors/Wholesale, Food Products, Healthcare Devices and Supplies, Healthcare Technology Systems, Industrial Supplies and Parts, IT Services, Logistics, Other Business Products and Services, Other Financial Services, Other Healthcare, Other Materials, Plastic Containers and Packaging, Private Equity, Publishing, Services (Non-Financial), Software

United States

Sell-side, Add-on, Buyout/LBO, Corporate Divestiture, Debt - General, IPO, Management Buyout, Merger/Acquisition, PE Growth/Expansion, PIPE

Industrial Products & Services, Consumer Products & Services, Education Services, Healthcare & Patient Services, Business Services, Technology

1

57

Avance is a private equity firm guided by partnership, experience, diversity and growth.

The firm focuses on transformational growth opportunities in the Services, Technology and Consumer sectors across the US. OUR FOCUS

MIDDLE MARKET

GROWTH

• $10 - 75M EBITDA

FOUNDER-OWNED

• Organic & Inorganic Levers

• Equity Alignment

• Seeks 2x EBITDA in 5 years*

• Value-Added Partner

• Demographic & Tech Catalysts

• Strong Culture

• Strong Management • Favorable FCF Conversion

AREAS OF INTEREST

BUSINESS & TECH • IT Services • Info & Data Services

INFRASTRUCTURE & COMMERCIAL • Engineering Services

CONSUMER • Food & Beverage

FINANCIAL & INSURANCE

• Food Distribution

• Insurance Brokerage

• Food Services

• RIAs & Wealth Mgt.

• Government Services

• Facility Services

• BPO

• TICC

• Home Services

• Consulting & Legal Services

• Paving & Road Safety

• Auto Aftermarket

• Human Capital Management

• Utility Maintenance

• Collision Repair

• Health Equip. Maintenance

• Transportation & Logistics

• Carwashes

• Tax & FP&A Services • Office of the CFO • Retirement & Health Benefit Services

VALUE CREATION PROCESS

DRIVING TRANSFORMATIONAL GROWTH IN PARTNERSHIP WITH MANAGEMENT Avance works in partnership with management teams, industry executives and functional experts with the goal of increasing the EBITDA and enterprise value of each underlying portfolio company.

TM

STRATEGY

TALENT

ACQUISITIONS

GROWTH

*No assurance can be made that targeted growth will be achieved.

58

ESG

!"#$%&"'($()*+,-'$,.)/0,)1,02-3 !"#$%&'()*+&$%,"$-(.*'#$%"/(&01&")&*2&-(31&"4%)*5(&01&"%)$&%&,")!$"&!-./0()

0/&)($"*

%&'()!*%#+

8$'%,+1-+'& 9**(!:!;&3&'0$& )&-!)'*(+,-.!:!2&'3%,&.

"#$%#&&'&(!)'*(+,-. /#(+.-'%01!2&'3%,&.

4%,5&!60#+70,-+'%#$

%&'()!*2

+/0#!%/&

;+.%#&..!2&'3%,&.!0#( 60#+70,-+'%#$

B#%-&(!2-0-&.

2*+-5&0.-!:!6%(C&.-

!23"

)%1"

"#-'&D'&#&+'!*' 90E%1F!GC#&(

<=><=?66 ";/@A8

!"#$

Ginger Carter 60'I&-%#$!H**'(%#0-*'

$4567488-098: 60#0$%#$!)0'-#&'

Pat Duncan 60#0$%#$!)0'-#&'

Todd Littleton GD&'0-%#$!)0'-#&'

Meredith Pflug HHG!0#(!H*#-'*11&'

Vicki Sorbin /#3&.-*'!J&10-%*#.

Ed Stein A%'&,-*'!*7!;+.%#&..!

A&3&1*DE&#-

Ben Wallace )0'-#&'

@*!(%.,+..!0#!*DD*'-+#%-FN!D1&0.&!,*#-0,-!Ed Stein!!/!!&.-&%#S0K01&0,0D%-01R,*E!!/!!TUQVW!OXL>?O?=!

8K01&0!H0D%-01!!/!!LL!;&0--%&!)10,&!2+%-&!=L??!M'&&#3%11&N!2H!OPQ?=!!/!!CCCR0K01&0,0D%-01R,*E

59

OUR COMMITMENT TO THE PEOPLE AND ECONOMY OF

Atlanta

October 1, 2024, update

bankofamerica.com/atlanta

Georgia

1.4MM

5,100

107

452

6

1

Digital active clients1

Local employees

Financial centers

ATMs

Merrill offices

Bank of America Private Bank office

Business lending

The power of local connections Commercial business

Small business

$6.4 billion

$672 million

Loans to commercial business

Loans to small business Credit extended to businesses that generally have annual revenues of less than $5 million.

Credit extended to businesses that generally have annual revenues of $5 million to $2 billion.

Personal banking and investing

$49 billion

$8.5 billion

$326 million

$176 billion

Total FDIC deposits*

Bank of America Private Bank client balances***

Home loans**

Merrill client balances***

*Total deposits within this market as of June 30, 2023, which may be inclusive of Consumer, Global Wealth & Investment Management (GWIM), Global Banking and Global Markets deposits. **Home loan dollars reflect a rolling 12-month total of first mortgage loan production figures including Consumer Banking and GWIM. ***Global Wealth and Investment Management (GWIM), the wealth and investment management division of Bank of America, includes Bank of America Private Bank and Merrill. GWIM Client Balances consists of assets under management of GWIM entities, brokerage assets, and assets in custody of GWIM entities.

At Bank of America, we have leading capabilities across all our businesses and a strategy that is focused on connecting our capabilities to deliver for our customers and clients. In every situation, we re committed to growing responsibly and sustainably - ensuring everything we do aligns to our purpose of helping people live better financial lives.

Families can have the tools and support they need to live more successful financial lives.

Neighborhoods can be built on a solid foundation of responsible home lending and economic development.

Businesses, small and large, can benefit from our financial and intellectual capital.

And the organizations, nonprofits and companies addressing society s toughest problems can have the resources and expertise of the company and the efforts of our employees locally and around the globe.

In each market, we strive to connect everything our company offers to our clients personal and financial goals so we can provide tailored solutions to fit their needs. It s how we make this large company personal and how we help our customers, clients and communities thrive.

Community support Grants and matching gifts2 (since 2019)

$42 million

Neighborhood Builders

Advancing economic mobility in the communities we serve, including creating opportunities for people of color.

The Bank of America Charitable Foundation provides grants and matching gifts on behalf of employees.2

Since launching Neighborhood Builders in 2004, Bank of America has invested more than $300 million in nearly 100 communities across the U.S., partnered with more than 1,600 nonprofits and helped more than 3,000 nonprofits strengthen their leadership skills.

Employee giving and volunteerism2 (since 2019)

1 2

$5.1 million

Total contribution by employees donated to local nonprofits and community needs. A portion of this amount was matched by the Bank of America Charitable Foundation.

266K hours

Employee volunteers give their time to support people and communities who need us most, contributing two million volunteer hours annually. #BofAVolunteers

The Literacy Lab YWCA of Greater Atlanta

Digital active users represents mobile and/or online 90-day active users.

Community support amounts represent a cumulative five-year period of contributions; 20 quarters from fact-sheet date.

Al L. McRae President, Atlanta (al.mcrae@bofa.com)

Terri S. Block

Market Executive (terri.block@bofa.com)

Bank of America, N.A., Member FDIC. © 2024 Bank of America Corporation. | MAP6211258 | SHEET-01-24-0061.B | 01/2024

60

!"##$%&'!#(%)(*)!' #+',-$.-'+#-"*!'(!/$*" !"#$"%#&

(2,'%+ \UUC*N*_'7-,'/*.6*L">'0*Q;K S:-,"*YVV 5:0,-#*La*X*Z[ZD\ DBC*WUZ*CVVV* 5:0,-#]!"#$%&'()+#,/@$.&

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

1#+"#$ P"')8-";*L.;"( YUYD*M(""#;..9*P/'?'*!/89 S:-,"*WZD `"#8"(*_H*X*[VBBB* ZCV*\ZW*[DYV `"#8"(]!"#$%&'()+#,/@$.&

6-(&*%'0*'/0.*2""#*#'&"9*,%"*+#8"0,&"#,*!'#)-#1*I-(&*.6*,%"*J"'(*2K*L%"*345*598-0.(* '#9*,%"*M/.2'/*345*N",;.()*'0*;"//*'0*,%"*OB*P(-8',"/K=Q"/9*345*598-0.(*-#*,%"*E.(/9* 2K*P-,$%!..)F0*4*RSTMF0*M/.2'/*R"'1:"*L'2/"0@

36/'-#/+2)3#$,

193

+(,-"%..# BV*R"'*58"** S:-,"*Z[V N'0%8-//"*LN*X*WZCBV YBD*\CU*[\DV N'0%8-//"]!"#$%&'()+#,/@$.&

.!,/(+0#.#, UDDB*M/"#$."*58" S:-,"*BVV 3'(-#'*9"/*^"K*_5*X*\VC\C* WBV*DZ\*VBZV R.05#1"/"0]!"#$%&'()+#,/@$.&

("0/1#(./5.!,%+0,/!"#$/ / '-#/.(,'/'-$##/6#($,

350+

100%

,#..:,%1#/(1"%,!$6

40%

400K

$#0%,'#$#1/326#$,

118

1#(.)(9#$, 4/(+(.6,',

(++2(./("0/0$!&'!"#$/'#+/6#($,

0.!3(./(&($1, 4/5!2+'%+0

!"#$

5.%#+'8,/'$(+,(5'%!+/ / '#()/%+5.21#,

$#*$#,#+'/ 5.%#+',/%+

)4(/,*#5%(.%,',

)($9#'/,#0)#+',

$12.5B

10+

!7/1#(. '$(+,(5'%!+/"(.2#

50+

(&($1,/4/$#5!0+%'%!+

'( ) *( UVWV*E"0,*!.K*S$.:,*!/89* S:-,"*DVV L'&7'*IR*X*WWYVZ [BW*[\[*CWDV L'&7']!"#$%&'()+#,/@$.&

01'/*$2(#"345-"3)'' 67('()2$!+*!',+*3),$)"

01'!"335!$)"'"8.39!$2"'' 67('()2$!+*'$%'#-"',+*3)

$%#"*%(#$+%(3'$%2"!#6"%#' :(%;$%&'<$*6'+<'#-"'4"(*

$%2"!#6"%#':(%;'+<'#-"'4"(*

0.!3(./!77%5#,

! " # $ % & ' ! " ( ) ( ! * # $ + , ( ) ( - . /$ . , ( ) ( 0 ! 1 % ( $ . 2 , ( ) ( 0 . & 3 ( ) ( ' % , 4 % & ( ) ( ' 5 # # % / ' . & 6 ( ) ( 7 . 8 ! , , % # - * & 9 /. # ( ! , 9 % / % # ( ) ( " ! , 0 8 % # $ % & ( ) ( , ! # 8 4 + / / % ( ) ( .: 6. & ' ( ) ( # $ % / / % , - . # 0 8 ( ) ( $! " 1!

61

!"##$%&!'()%*&!+,&,#-"./(0&1%(-"2%.

34%&5$'2),(24&6$'*7/(8 • R0S#%IJ%)/%68%+#TP=#J)49%&&/46*3&#*33#@*&%+#/6#12*)34''%-#51 • U64L6#94)#)%J)%&%6'/6:#2/:2KM.*3/'F#?*)<%'#3%*+%)& • O6'%)J)/&%#H*3.%#)*6:%#49#VW0#?/33/46#K VX#@/33/46 • Q/:23F#&%3%8'/H%#*JJ)4*82#'4#83/%6'#%6:*:%?%6'& • 142%&/H%-#&%*&46%+#'%*?#49#'*3%6'%+#J)49%&&/46*3&#*'#%H%)F#3%H%3 • 13/%6'K4@&%&&%+#&%)H/8%#8.3'.)%

1?22%..&B0&*4%&C?8B%(.

9::;

<9:;

9::;

=::;

()*6&*8'/46&#&.88%&&9.33F# 834&%+#@F#;3*8<=)82# 499/8%)&

G%*)&#49#8433%8'/H%# %IJ%)/%68%#/6#*+H/&/6:# ?/++3%K?*)<%'#83/%6'&

A/6*68/*3#&J46&4)&#2*H%# &.@?/''%+#J)4J4&*3&#/6# J)48%&&%&#3%+#@F# ;3*8<=)82#J)49%&&/46*3&

A4.6+%)K 4)#9*?/3FK4L6%+# @.&/6%&&%&#)%J)%&%6'%+#@F# ;3*8<=)82#J)49%&&/46*3&

1%$%2*&>/2?.&/@&1%$$."#%&!"##$%A!'()%*&!+, ;3*8<=)82#2*&#'2%#/6+.&')F#%IJ%)'/&%#*6+#.6/M.%#/6&/:2'&#'4#2/:23/:2'#L2*'#+/99%)%6'/*'%&#4.)#83/%6'&# 9)4?#'2%#84?J%'/'/46E =%)4&J*8% P#N%9%6&%

N/&')/@.'/46

=.'4?4'/H%# =9'%)?*)<%'

;./3+/6:# D)4+.8'&#P# B69)*&').8'.)%

;.&/6%&&# ,%)H/8%&

146&.?%)# D)4+.8'&# P#,%)H/8%&

O6%):F#P# B6+.&')/*3# ,%)H/8%&

A44+#P# ;%H%)*:%

B6+.&')/*3# D)4+.8'&

>/9%#,8/%68%# P# Q%*3'28*)%

B*6#T*8<*F##Y##Q%*+#49#A/6*68/*3#,J46&4)&#Z)4.J##Y##T*8<*F[@3*8<*)82J*)'6%)&E84?

!"#$%&'$()*#'+,-'./)001 !!"#$%&'#()*+%#,')%%'-#,./'%#!!00 12*)34''%-#54)'2#1*)43/6*#!7!0!

62

,%8.)/'/%&#499%)%+#'2)4.:2#;3*8<=)82#,%8.)/'/%&#>>1-# ?%?@%)#49#AB5C=#*6+#,BD1E

Blue Sea Capital | PE/Buyout Profile General Information Description Founded in 2013, Blue Sea Capital is a private equity firm based in West Palm Beach, Florida. The firm prefers to invest in growth-stage companies through buyouts. The firm seeks to invest in business products, business services, healthcare, manufacturing, and industrials sectors in North America.

Website

www.blueseacapital.com

Total Investments

103

Entity Type

PE/Buyout

Active Portfolio

14

Also Known As

Blue Sea

Investments (TTM)

24

Legal Name

Blue Sea Capital LLC

Exits

5

Spun Out Of

Brockway Moran & Partners

Med. Round Amount

$150.00M

Investor Type

PE/Buyout (Primary Type) Growth/Expansion

Med. Valuation

$150.00M

# of Professionals

30

Investor Status

Actively Seeking New Investments

Year Founded

2013

AUM

$1.40B

Dry Powder

$698.36M

† Includes add-ons All investments are equity/add-on investments only

Contact Information Primary Contact

Primary Office

Pat Boroian

222 Lakeview Avenue

Partner

Suite 1700

pboroian@blueseacapital.com

West Palm Beach, FL 33401

Phone: +1 (561) 655-8400 x132

United States Phone: +1 (561) 655-8400 Fax: +1 (561) 922-8844 info@blueseacapital.com

Investment Preferences Preferred Investment Amount[s]

$40M - $150M

Preferred Company Valuation[s]

$30M - $300M

Preferred Deal Size[s]

$30M - $300M

Preferred EBITDA

$5M - $30M

Preferred Industries

Geographical Preference

Preferred Deal Types

Preferred Verticals

Other Investment Preferences

Aerospace and Defense, Healthcare, Industrial Supplies and Parts

North America

Add-on, Buyout/LBO, PE Growth/Expansion

Healthcare, Industrials, Manufacturing, A&D

Prefers majority stake, will also do minority stakes. Will syndicate

1

63

!"#$%&%'($')**+,'-".$&'/01(203'(4'0'15(602&'&7#(2.'8(59':&0%7#052&5&%'($';(09(,'!3"5(%0<'-".$&'4&&=4'2"' ($6&42'($'809(3.'0$%'8"#$%&5'">$&%'?#4($&44&4'0@5"44'0'?5"0%'50$A&'"8'($%#425(&4,'($@3#%($A'!"#$%&##' #&()$*&#+'%$*,&'-.%"/.*0"($%1'.%2'2$#0($!"0$3%+',&.40,*.(&'#&()$*&#+'$%/(.#0("*0"(&'#&()$*&#+' *3%#"-&('5(32"*0#+'.%2'$%/3(-.0$3%'0&*,%34316<'-".$&'8"@#4&4'"$'1052$&5($A'>(2:'"1&502"54'0$%' &$25&15&$&#54'2"'A5">'?#4($&44&4'($2"'($%#425.'3&0%($A'@"910$(&4<'

73%0.*0'8%/3(-.0$3%'/3('8%)&#0-&%0'9553(0"%$0$&#'' N"?'N&A0$,'55&A0$O?".$&@01(203<@"9,'PJ+KCBLK))+B M(33'Q#2:5(&,'>A#2:5(&O?".$&@01(203<@"9,'PJ+KCBLK))+L R0203(0'/"4(",'$@"4("O?".$&@01(203<@"9,'PJ+KCBLK))PJ

64

BBC*'D(5A($(0'E25&&2,'E#(2&'F**' ;(09(,'!3"5(0'BBGBB HB*CI'JC+KLC** MMM<?".$&@01(203<@"9

!"#$%&"'()#*+,-(.#"+$-"*

!"#$!%$&"'( #)*$&" +'%%#$ ,+!&-$."/01,)0.2"2'(3$"4567

02@;=-=$:A$B2*;$C9$D&'(1-.$(*-$D*&E,?&;$F$D%G$2<$D&'(1-$H&,1&;.$I;>9. (*-$J12:&1$KLG$<E,?9$$L,&;<2,=$ D&'(1-$E'$-M>E(-=$(2$42,6$4E(*$?&;&J-?-;($(-&?'$:@($>&;$&1'2$&>N@E,-$>2?O&;E-'$4*-,-$ ?&;&J-?-;($4E11$;2($:-$O&,($2<$(*-$>2?O&;A$O2'(P(,&;'&>(E2;9$$!"#$%&'#'()("*#+%'*$%,-%#)%.+/"0# 1-2(3*-*&'(34#3("-%'#./"/5(.("*#./1(#674#8974#:;7#/"1#<=7#*>(-'#'%,,?%2('#-"2(3*.("*@###

We seek the following “platform / standPalone” investments: • K-&=-,$E;$&$3E>*-$I;=@'(,A • %LIQR8$@O$(2$S!"TT • 32,(*$8?-,E>&P:&'-= • T&U2,E(A$D2;(,21$V"!WXY 8,-&'$2<$'O->E<E>$E;(-,-'($<2,$;-4$E;Z-'(?-;('$E;>1@=-[ • +O->E&1(A$T&;@<&>(@,E;J\I;=@'(,E&1' • L@'E;-''$+-,ZE>-' • D2;'@?-,$]22='$F$+-,ZE>-' • Q,&;'O2,(&(E2;$F$I;<,&'(,@>(@,!"#$%&'()**%#)+,'-#'.+"/$0".$/#'.#1)..)2'/3#4'56#7"(6.,*,5%3 8',$"(63#9)/6',.#).-#:"$)'*;

TF8$8=ZE'2,$84&,='$(2$L,&;<2,=$&;=$Q-&?[

A%>"#F@#C/3*,( D*&E,?&;

❖

^#!)$I;(19$_,EZ&(-$%N@E(A$R-&1$2<$(*-$5-&,$VS!#P!##$?E11E2;Y

❖

^#^#$D-2;$0,&;>E'$,->2J;E`-=$&'$&$aE'E;J$+(&,$R-&1?&6-,$:A$ (*-$]12:&1$TF8$3-(42,6

❖

^#^b$T&,E1A;$5&;J$,->2J;E`-=$$&'$&$,->EOE-;($2<$(*-$!"(*$ 8;;@&1$%?-,JE;J$K-&=-,'$84&,=

A%>"#B@#C/3*,( _,-'E=-;($&;=$D%G

D/2-1#C/3*,( T&;&JE;J$_&,(;-,

Q-1[$$^!^ P/!cP^#^# U'>d:,&;<2,=>&'(1-9>2?

Q-1[$$^!^ P/!cP^#^^ =&>d:,&;<2,=>&'(1-9>2?

E'-)#F%'3*(" +-;E2,$T&;&JE;J$RE,->(2, Q-1[$$^!^ P /!cP^^!e -62,'(-;d:,&;<2,=>&'(1-9>2?

H/'-,0"#I/"5 C(%"#G'/")-3 _,E;>EO&1 T&;&JE;J$RE,->(2, Q-1[$$^!^ P/!cPfb^/ Q-1[$$^!^ P/!cP^/)" P ><,&;>E'd:,&;<2,=>&'(1-9>2? ?A&;Jd:,&;<2,=>&'(1-9>2?

!"#$%&'($")(*$+(,--(.$/)(*$0122,.$3-4$52,6.$35$!#!""$7+8 4449:,&;<2,=>&'(1-9>2?

65

Bravaldo Capital Advisors | Investment Bank Profile General Information Description Bravaldo Capital Advisors is an Atlanta, Georgia-based boutique mergers and acquisitions and corporate finance advisory firm. Established in 2006, the firm offers a full range of transaction and advisory services, guiding clients through sell-side transactions and exit strategy planning, growth through acquisition, debt restructuring, and corporate recapitalization. BCA serves lower-middle-market companies that are primarily located in the Southeastern United States.

Website

www.bravaldocapitaladvisors.com

Year Founded

2006

Entity Type

Investment Bank

Employees

11

Also Known As

BCA

Service Breakdown

Legal Name

Bravaldo Capital Advisors, Inc.

Service Provider Type

Investment Bank (Primary Type) Financing Advisory

Serviced Companies: 30 Serviced Deals: 28 Serviced Investors: 2

Contact Information Primary Contact

Primary Office

Don Bravaldo III

2839 Paces Ferry Road, Southeast

Founder, President & Managing Partner

Suite 450

dbravaldo@bc-advisors.com

Atlanta, GA 30339

Phone: +1 (770) 599-7366

United States Phone: +1 (404) 857-2221 info@bc-advisors.com

Preferences Preferred Industries BPO/Outsource Services, Building Products, Capital Markets/Institutions, Chemicals and Gases, Commercial Transportation, Consulting Services (B2B), Consumer Durables, Consumer Non-Durables, Distributors/Wholesale, Electrical Equipment, Healthcare Services, Human Capital Services, Industrial Supplies and Parts, IT Services, Machinery (B2B), Media and Information Services (B2B), Other Commercial Products, Other Commercial Services, Other Metals, Minerals and Mining, Textiles Geographical Preference Southeast Preferred Deal Types Acquisition Financing, Asset Divestiture (Corporate), Buyout/LBO, Corporate, Corporate Divestiture, Debt - General, Debt Refinancing, Management Buyout, Merger/Acquisition, PE Growth/Expansion, Recapitalization Preferred Verticals Advanced Manufacturing, E-Commerce, Industrials, Manufacturing, SaaS, TMT

1

66

Burr & Forman | Law Firm Profile General Information Description Founded in 1905, Burr & Forman’s experienced legal team has served clients at the intersection of business and government with local, national, and international interests in numerous industry and practice areas, ranging from intellectual property, commercial litigation and class actions to corporate transactions, including franchise and distribution and bankruptcy and restructurings. A regional firm with 350 attorneys and 19 offices in Alabama, Delaware, Florida, Georgia, Mississippi, North Carolina, South Carolina, and Tennessee, Burr & Forman attorneys draw from a diverse range of resources to help clients achieve their goals and address their complex legal needs.

Website

www.burr.com

Year Founded

1905

Entity Types

Law Firm Private Company

Employees

800+

Acquirer Also Known As

Burr, Burr and Forman LLP, Burr and Forman Limited Liability Partnership

Legal Name

Burr & Forman LLP

Service Provider Type

Law Firm

Contact Information Primary Contact

Primary Office

Edward Christian

420 North 20th Street, Suite 3400

Chief Executive Officer & Managing Partner

Birmingham, AL 35203

echristian@burr.com

Phone: +1 (205) 251-3000

Phone: +1 (205) 458-5155

Fax: +1 (205) 458-5100

67

A D DRESSING T H E C A PITAL I N VE STMENT N E EDS O F LO WER M I DDLE -MARKET C OMPANIES

OVERVIEW Headquartered in Nashville, TN, with an additional office in Newport Beach, CA, Capital Alignment Partners (“CAP Funds”) has provided debt and equity to lower-middle market businesses since 2009. Generalists by nature, CAP Funds focuses on aligning its interests with management and other stakeholders, but has had a concentration of investments in healthcare, industrial and business service companies. Currently investing out of our fourth SBIC fund, which is a $375M investment vehicle, CAP Funds is actively looking to deploy capital to established lowermiddle market companies. Our fund structure and LP base allows us flexibility to invest subordinated debt, minority equity, control equity, or any combination.

CAP FUNDS SUMMARY Investment Experience Diverse investment background with over 130 years of combined investment experience in a variety of industries.

Flexible Capital Provide tailored debt and equity capital for growth, recapitalizations and consolidation strategies.

Focused Investment Strategy We have a core strength and focus on consolidation strategies in the healthcare and business service industries.

Reputation We rely on our industry experience, domain expertise, network of relationships, and capital markets experience to source our transactions.

Value-Add Investors Our investors consist of large family offices and institutional investors that act as resources for the funds.

Results Driven The firm has a proven track-record of creating value for our portfolio companies and investors.

Portfolio Company Criteria

68

Investment Criteria/Structure

Transaction Types

•

Healthcare and Business Services

•

Investment Size : $5M - $40M

•

MBOs and LBOs

•

Lower-Middle Market

•

Mezzanine Debt Investments

•

Strategic Consolidations

•

Recurring Revenue Model

•

Equity Investments

•

Balance Sheet Restructuring

•

Diversified Customer Base

•

Sponsored and Non-Sponsored

•

Recapitalizations

•

Strong Management Team/Depth

•

Control and Non-Control

•

Shareholder Liquidity

•

Growth Strategy

•

Revenue: $10M - $150M

•

ESOP

•

Acquisition Experience

•

EBITDA: $2M - $20M

•

Growth Capital

WWW.CAPFUNDS.COM

NASHVILLE

NEWPORT BEACH

A one-stop financing solution providing private credit and private equity capital to small businesses // /:.*%'*!'00

+"/$5'.*%'00

Capitala Group is an asset management firm that has been providing private credit and private equity capital to lower- and middle-market businesses throughout North America for over twenty-five years. Since our inception in 1998, Capitala has invested over $2.2 billion into small businesses utilizing our flexible capital mandate which provides creative financing solutions to companies. We seek to partner with strong management teams to create value and support growth through strategic partnerships, operational expertise, and a shared vision for success.

!%+/%"4,'00 Capitala works with management teams, business owners, funded financial sponsors and independent sponsors to individually tailor private credit and private equity capital to support the needs of lower- and middle market businesses. We have seasoned professionals with real operational experience in a variety of industries that can assist with implementing key strategies for ongoing growth and success.

%+/)!/$%(.)'%,;"!'00 » » » » » »

J45&4*/ Q#-,6%*,.%R,*%&$/ "*',*#S%-!A-34%/%*%&$/ L%P%)#$)!Q#-,6%*,.%R,*%&$/ Debt Refinancings A))8&$/

!%+*$%*+"!'00 » » » »

"#$%&'!('#)%*!+,-%.%*%#/ 0$%*',$-1#!('#)%*!+,-%.%*%#/ (&$*'&.!234%*5!(,6%*,.

7%$&'%*5!234%*5!(,6%*,.

$5+(!').+%.)

Managing Director - Underwriting cnorton@capitalagroup.com /&/2'+($5"!.)

Managing Director - Charlotte aricheson@capitalagroup.com 6/$8'1/)&"+'#""*9 "#$%&'($ jvanderleeuw@capitalagroup.com ALEX PRUITT Vice President apruitt@capitalagroup.com BRIDGET MELLER Vice President bmeller@capitalagroup.com

:*!()"!!'!"+1($"!'00' 5"/#%5$/+"'00''

"#$%&'!('#)%*!+,-%.%*%#/!8!9:;77!*&!9:;;77 0$%*',$-1#!('#)%*!+,-%.%*%#/!8!9:;77!*&!9:;;77 (&$*'&.!234%*5!(,6%*,.!8!9<77!*&!9=<77 7%$&'%*5!234%*5!(,6%*,.!8!9=77!*&!9:;77

4201 Congress Street, Suite 360 Charlotte, NC 28209 704.376.5502 // capitalagroup.com

+/)&/##'-.)%"!

Managing Director - Atlanta rfontes@capitalagroup.com

!"#"$%"&'()&*!%+,'' -.$*!'/+"/!'00

()1"!%2")%'!(3"! 00 » » » »

6."'/#/#/7'((( Founder & Chief Executive Officer jalala@capitalagroup.com

.--($"'#.$/%(.)!

(1,'.&**#>!?(!@@!A*.,$*,>!BA ?#C!D&'E>!?DF

$.)!*2"+'!"+1($"!'00' 4")"+/#'()&*!%+(/#'00' ()-.+2/%(.)'%"$5).#.4,'00'' "&*$/%(.)'!"+1($"!'00'''''''''''''''''''''

$/;(%/#/'/&1(!.+,':./+&'2"2:"+'#.$/%(.)!

A*.,$*,>!BA!@@!A4G4'$!H%../>!7I!@@!J,')/*&C$>!KD!@@!L,..,/>!MN +&'*!O,4)#'),.#>!+O!@@!O&4%/P%..#>!KD!@@!7#.G&'$#>!+O

*Includes Mitsui offices in New York.

69

J;56'9I(+9'E*9G5886*9G$+Q*' !"##"$%&"'()*%+$,"##"$%-.)/(0)*

!'7)0"$.%F'20$.2)%3)%"$.%"4%0;.%('2:.)0%'$9%#")0%',036.%#399(.%#'2?.0%3$6.)0#.$0%5'$?3$:%432#)%3$%0;.%+$30.9%=0'0.)*%J6.2% 0;.%7')0%KL%8.'2)A%0;"/)'$9)%"4%5/)3$.))%"M$.2)A%3$6.)0"2)A%'$9%,2.930"2)%;'6.%02/)0.9%/)%0"%;.(7%:/39.%0;.32%)02'0.:3,% 9.,3)3"$)%'$9%#'I3#3N.%43$'$,3'(%"/0,"#.)%'0%.6.28%)0':.%"4%0;.%,"27"2'0.%(34.,8,(.*

-.

-/01

C$9/)028% &2"/7)

.31 S.'2)%"4%72"6.$% 2.)/(0)

2

OI7.23.$,.9% 72"4.))3"$'()

/331 T2'$)',03"$)% ,(").9

J443,.)%3$%0;.%+=%'$9% PQLR%7'20$.2)% M"2(9M39.

0 1/((8%3$0.:2'0.9% ).263,.%0.'#)

>;66<?:)'*@+$'*89AB%*+'5&* U. ;'6. 9.6.("7.9%'%4/((8 3$0.:2'0.9 2'$:. "4 3$6.)0#.$0 5'$?3$: '$9 43$'$,3'( '963)"28 ).263,.) /$3V/.(8 0'3("2.9 0" #..0 0;. $..9) "4 #399(. #'2?.0 ,"#7'$3.)A '(( )/77"20.9 58 6')0 3$0.2$'( 2.)"/2,.)*

! ! ! !

>.2:.2)%X% E,V/3)303"$)

!'730'(% E963)"28

13$'$,3'(% E963)"28

=.((B)39.%E963)"28 H/8B)39.%E963)"28 -.,'730'(3N'03"$) >.2:.2)%X%Y"3$0%Z.$0/2.)

! OV/308%E963)"28 ! [.50%E963)"28 ! C$42')02/,0/2.%13$'$,.

! ! ! !

T2'$)',03"$%E963)"28 F.24"2#'$,.%C#72"6.#.$0 Z'(/'03"$%E963)"28% @303:'03"$%=/77"20

=7.,3'(%=30/'03"$) X%-.)02/,0/23$: ! ! ! !

=7.,3'(%=30/'03"$)% T/2$'2"/$9% -.)02/,0/23$: H'$?2/70,8%

O=JF% E963)"28 ! ! ! !

F2.(3#3$'28%E$'(8)3) 1.')353(308%=0/98 O=JF%C#7(.#.$0'03"$ [.)3:$%X%OI.,/03"$

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

J;5685)@9K+(8;#'&9 F94*+L5#*&

J;&5)*&&9 4*+L5#*&

O()&;,*+9F9 P*'$56

C@+5#;6';+*

A)*+@<9F9 K(!*+

>5)=*#E9F 4*+L5#*&

D*$6'E9F9 G*85#$6

:)8;&'+5$6&

:)8;&'+5$69 =*#E)(6(@<

=*#E)(6(@<N9 G*85$9F9=*6*#(,

=+$)&%(+'$'5() F9M(@5&'5#&

1"2%#"2.%3$4"2#'03"$%'5"/0%"/2%).263,.)%"2%0"%',,.))%"/2%72"723.0'28%3$9/)028%3$)3:;0)%63)30<

!!!"#$%&'()*%$+')*+&"#(,

=.,/2303.)%72"9/,0)%'$9%).263,.)%'2.%"44.2.9%58%(3,.$).9%).,/2303.)%2.72.).$0'036.)%"4%!'7)0"$.%!'730'(%>'2?.0)%@@!A%2.:3)0.2.9%52"?.2B9.'(.2%'$9%#.#5.2A%1CD-E%'$9%=CF!*%!'7)0"$.%!'730'(%>'2?.0)%@@!% 3)%'%)/5)393'28%"4%G/$03$:0"$%H'$,);'2.)%C$,"27"2'0.9*%!'7)0"$.%!'730'(%>'2?.0)%@@!%72"639.)%43$'$,3'(%'963)"28%).263,.)%'$9%9".)%$"0%',,.70%9.7")30)A%.I0.$9%,2.930%"2%.$:':.%3$%02'93$:%',036308*

!"#$%"&'()*$

70

Overview Investment Criteria Representative Sector Interests

Based in Charlotte, North Carolina, Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with deep connections in the region. Since its inception in 1996, Carousel has invested in 51 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.

CHARACTERISTICS

GEOGRAPHY

SIZE & TYPE

Strong management team

Platforms headquartered in Southeastern United States

Initial transaction size of up to $250 million

Add-on investments can be in any location

EBITDA of at least $3 million

Track record of growth Strategic market position Recession resistant

Management buyout or recapitalization

BUSINESS SERVICES

CONSUMER SERVICES

HEALTHCARE SERVICES

Tech-enabled services

Automotive aftermarket

Medical data management

Data collection/management Distribution/Logistics

Franchised consumer services

Outsourced hospital services

General outsourced services

Niche packaging solutions

Industrial/Environmental services Insurance services/Insurtech Route-based services

Revenue cycle management Dental products and services Medical distribution

Software as a service LIQUIDITY & GROWTH CAPITAL Rationalize shareholder base

Partnership with Carousel

Outsourced consumer services

Pharmacy services

Diversify risk and personal net worth Facilitate generational or management transfer Relieve personal guarantees on debt or real estate Accelerate organic growth through investments in corporate infrastructure Fund geographic expansion or new products/services Pursue add-on acquisitions

INVESTMENT PROFESSIONALS Managing Partners Investment Team Charles Grigg Investment Team Jason Schmidly Partners Investment Team Peter Clark Investment Team Al Welch Principals Business Development Adam Elmore Investment Team Tyler Moses Investment Team Chris Wells Vice Presidents Brandon Moores Will Hersman Emily Johnson Senior Advisor Nelson Schwab

Investment Team Investment Team Business Development

To Discuss New Investment Opportunities, Contact: Advisor Adam Elmore, Principal (704) 350-3220 | aelmore@carouselcapital.com 201 North Tryon Street | Suite 2450 | Charlotte, NC | 28202 | P: (704) 372-2040 | F: (704) 372-1040 | carouselcapital.com

71

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

78$'9&:'8&(;"#&'"#% :"<A4$;'2--7(D#-&1

?7"B&$ .(1-"7; "/ @7",-. 4$% 1-7"$@ /7&& 041. /3",9 ,(-. <#3-(A3& @7",-. 4B&$#&1 @"($@ /"7,47%

P$%#1-7(&1

Q#1($&11 K&7B(0&1

=QPRS2

T)'-"'T+) <(33("$

=$-&7A7(1&'U43#&

T+* -"'T+** <(33("$

F,$&71.(A

V4W"7(-; P$B&1-<&$-1

=>#(-;'P$B&1-<&$-1

T+* -"'TX* <(33("$

:4A(-43'K"#70&

:#77&$-3; ($B&1-($@ 0"<<(--&% 04A(-43 "#- "/ :4;<#1 =>#(-; ?47-$&71 !#$% PP

Y&"@74A.;

<&5%8&% )I)I'?40&1'!&77;'J%'K= K#(-&'+C+LM*

72

5"7-. 2<&7(04

;.8&%=&>(?/.?%8@=%,:+9'*+#&,A=.: 111A=%,:+9'*+#&,A=.:

2AA7"40. :#3-#7&CQ41&%' ?47-$&71.(A1 U43#&C2%%&%'K#AA"7Z#43(-;C!"0#1&%' P$B&1-<&$-'K-74-&@; V4$4@&<&$-'K#AA"7-' 4$%':"$-($#(-;

=HA&7(&$0& +M

?34-/"7< P$B&1-<&$-1

XX

2%%CF$ 20>#(1(-("$1

I

20-(B& P$B&1-<&$-1

[

J&43(\&% P$B&1-<&$-1

TM**]' V(33("$

:"<D($&% =$-&7A7(1& U43#&1

B'1(C."6 LN+'O&H($@-"$'2B&$#& )*-.'!3""7

FLEXIBLE JUNIOR CAPITAL

Investment Criteria

Centerfield works closely with equity sponsors, independent sponsors, business owners, and management teams who seek subordinated debt and equity financing to build companies and create value.

$15 to $100 million of revenue $3 to $15 million of EBITDA EBITDA margins generally > 10% Experienced management

TRUSTED PARTNER AND EXPERIENCED INVESTOR

Positive industry trends

We are seasoned professionals with multiple years of investing experience.

Centerfield has invested in over 100 companies through various economic cycles, remaining steadfast even during challenging times.

Stable and profitable growth Strong market position Sustainable margins US based

HOLISTIC FINANCING SOLUTIONS We are currently investing from our fifth fund, totaling $400 million. Our check size ranges from $7 to $30 million. Along with our subordinated debt, we can provide sizable equity co-investments. We can also offer a one-stop solution by soliciting senior financing proposals from our Bank LPs.

Industry Focus Business Services Consumer Products Healthcare Services

RELATIONSHIP FOCUSED WITH INFLEXIBLE INTEGRITY

Manufacturing

Our team is honest and maintains an uncompromising adherence to strong moral and ethical principles. We strive to engender trust and forge long-term relationships with our investors and investment partners.

Value-Added Distribution

Representative company characteristics, including financial figures, may differ than those depicted above.

We do not invest in early stage companies, distressed situations, or in the financial services, real estate, and retail industries.

LET S PARTNER

Troy Clark

Tye Stebbins

To learn more or discuss a new investment opportunity, please contact:

317-268-8621 troy@centerfieldcapital.com

317-536-8652 tye@centerfieldcapital.com

OUR TEAM

Faraz Abbasi

Michael Miller

Mark Hollis

TroyClark Clark Troy

Tyler Hamacher

Managing Partner

Senior Partner

Senior Partner

Partner Director Managing

CFO, CCO

Tye Stebbins Augie Pence

Tye Stebbins Augie Pence

Adam Shaffer

GeorgeKirch Kirch George

Charlie Dapp

Partner Director

Director Principal

Vice-President

Associate Associate

Analyst

AustinKeil Keil Austin

MichaelLuciano Luciano Michael

Stephanie Douglass

AndreaPedregon Pedregon Andrea

Analyst Analyst

Analyst Analyst

Financial Analyst

AdministrativeAssistant Assistant Administrative

The information contained herein is being provided for discussion purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, securities in any of the companies listed, or the securities of any of Centerfield s investment partnerships. The companies listed herein are included for illustrative purposes only and is not a complete list of all companies in which Centerfield, through one or more of its investment partnerships, has made investments. It should not be assumed that the companies listed were or will be profitable, or that historical performance is indicative of future returns. Centerfield makes no guarantees of positive returns as investing in equities may involve significant risks, including the risk of total loss of funds invested, that a potential investor must be willing to bear. The information contained in this brochure is current as of the date hereof and is subject to change without notice.

3000 Market Tower 10 West Market Street Indianapolis, IN 46204 centerfieldcapital.com

Find us on LinkedIn

73

!"#$"%&'()*'%$#"%+),+)')-%,.'$")"/0,$1)2,%3)$4'$),#."+$+),#)567"%) 3,885"93'%("$):63-'#,"+),#)$4");0+,#"++)+"%.,:"+<),#80+$%,'5) +"%.,:"+)'#8):6#+03"%)+"%.,:"+)+":$6%+

!"#$%&'$"&()*!&$*!+

$+=>2)?#./@&

AB,/*?#C)D&'*=&)*'

,-./0'($1!&2+(

,03.403'

A)*&%>%/'&#E23,&

!"#$%&"&%'%($)#*$+,,-#"(.

F&+G%2>H?

:8)&%'H/>

,03.033'

56789:(%8;89<(

';=>?78@

!"#$%&"&%'%($)#*$+,,-#"(.

!&"/0*"+/&#"+1$)#*$+,,-#"(.

!2345.

15%!"$%%(%$*#!)$%

&*+"%+)&!B"(FB)5%

N2(/3/*/&'#S2)2G&=&)*#P#.&%D/(&' <%+I&''/+)23#.&%D/(&'

!

M,?+,*'#2)K#%&(2>/*23/@2*/+)'

40

!

N2=/3?L+8)&K#2)K#(3+'&3?#H&3K#O,'/)&''&'

!

$A:LO2(;&K#O,?#P#O,/3K'

<32*I+%=# J(B,/'/*/+)'

!

Q+)L(+%&#(2%D&L+,*'

A)G/)&&%/)G#P#C)I%2'*%,(*,%&#.&%D/(&'

)B'G+"H(+&&*!15&$%

A)D/%+)=&)*23#.&%D/(&' S2(H/)&%?#S2/)*&)2)(&#P#T&>2/%

!"25%&*!+A(%$*#!)$% :,*'+,%(&K#C)K,'*%/23#.&%D/(&'

!

AR>&%/&)(&K#=2)2G&=&)*

!

:%G2)/(#2)K#2(B,/'/*/D&#G%+8*H

!

:>&%2*/+)23#/=>%+D&=&)*'

!

S2%;&*#3&2K&%#/)#/*'#)/(H&

!

.,'*2/)2O3&#(+=>&*/*/D&#2KD2)*2G&

.>&(/23*?#1/'*%/O,*/+)

1I7J:76K(%8?>6K9?()>LM;679<N( .>&(/23*?#$+2*/)G'-#$H&=/(23'#P#JKH&'/D&' C)K,'*%/23#4&(H)+3+G?

)B"%5'$*(%$*#!)$% T&'/K&)*/23#.&%D/(&'

403C JKKL+)# J(B,/'/*/+)'

,DE01C AB,/*?#$2>/*23# $+==/*=&)*'

4H2*X'#4H&#$+%&#S/''/+)#J*#$&)*&%:2;9 :,%#K&&>#'&(*+%#&R>&%*/'&#,)K&%>/)'####### 2#>%+D&)#*%2(;#%&(+%K#+I#K%/D/)G# +>&%2*/+)23#/=>%+D&=&)*'-# +%G2)/@2*/+)23#K&D&3+>=&)*#2)K# *%2)'I+%=2*/+)23#G%+8*H9

,/E01C 4+*23#4%2)'2(*/+)# E23,&#

J,*+#JI*&%=2%;&*

!""#$%&'(&)*#$+,%*-#.,/*&#!0""-#12332'-#45#067"!

74

<U#7!VLW"!LV7"!

8889$&)*&%:2;<2%*)&%'9(+=

MERGERS AND ACQUISITIONS Overview A principal focus at Chamberlain Hrdlicka is mergers and acquisitions. Members of our Corporate, Securities and Finance practice group devote a significant portion of their time to facilitating the structuring, financing and successful completion of the full range of acquisitions, divestitures, public cross offerings, private placements, joint ventures/strategic alliances, refinancings, international cross-border transactions and other transactions undertaken by clients. We have worked on transactions ranging in size from a few million to more than half a billion dollars.

Our mergers and acquisitions clients have included publicly traded companies, privately held and venture-backed companies, partnerships, investment funds, management groups and entrepreneurs. Our clients range in size from emerging companies to large public corporations in a variety of industries.

Chamberlain Hrdlicka represents both strategic and financial purchasers, sellers, financing sources, management, and advisors in a wide range of transactions involving both public and private companies, including equity and asset acquisitions of both entire companies and subsidiaries or divisions, mergers, leveraged buyouts, spin-offs, recapitalizations and joint ventures.

Representative Experience Represented private equity firm in $85 million strategic asset/equity acquisition of residential and commercial solar panel and battery installation company

Represented private equity company in $50 million equity sale of IT consulting, application, development and support enterprise with operations in US, Asia and Europe to publicly traded entity Represented seller in $224 million asset sale of chemical manufacturing and distribution company to private equity firm

SCOTT AUGUSTINE Shareholder Scott.Augustine@chamberlainlaw.com 404.384.3622

Represented private equity company in $165 million asset sale of software developer to publicly traded buyer Represented international gaming testing and certification company in $75 million equity acquisition of industry competitor with operations in US and South America Represented seller in $224 million asset sale of chemical manufacturing and distribution company to private equity firm

ERICA OPITZ Shareholder Erica.Opitz@chamberlainlaw.com 404.693.1082

KEEGAN MCCASTER Associate Keegan.McCaster@chamberlainlaw.com 404.588.3429

Chamberlain Hrdlicka 191 Peachtree Street, N.E., Forty-Sixth Floor, Atlanta, Georgia 30303

75

CHATHAM C

A

P

I

T

A

L

One-Stop Finance Firm with over $1 Billion Managed Chatham Fund VI is seeking new opportunities to invest in lower-middle market sponsored and non-sponsored companies. Chatham’s financing will meet a wide range of needs, including organic growth, acquisitions, management buy-outs, corporate divestitures, recapitalizations, turnaround situations, distressed debt, and bridge loans. Since 2001, Chatham has provided flexible capital solutions to companies to aid growth and allow ownership to realize its goals.

Principals’ 100+ years of experience provide portfolio companies and co-investors with necessary expertise for the lower-middle market. Chatham invests across most industries, with specific expertise in healthcare, specialty retail, restaurants, software and financial services.

I NVESTMENT S TRUCTURE

I NVESTMENT CRITERIA

T EA M & APP RO ACH

Investment size: $2-$60 million

Minimum annual revenue of $10 million

Senior debt, unitranche, second lien loans, subordinated debt and equity co-investment

Proven, well-balanced management team with significant personal capital at risk or a substantial equity sponsor

Cash flow and enterprise value based loans

Favorable industry outlook for sustainable revenue growth

Term: up to six years

Leading market position or defensible niche

8%–15% interest with or without PIK

Proposed capital structure that is appropriate for the company

With or without warrants Typically lead or participate in transactions requiring less than $50 million of financing; however, Chatham has led financing transactions up to $150 million

Strong free cash flow

Principals collectively have over 100 years of diversified experience, completing more than 360 transactions totaling over $30 billion Experience and firm structure allow us to be fast, flexible and dependable Experienced in creatively structuring difficult transactions and identifying appropriate coinvestors, even for unusual situations Investors include business owners/CEOs in a wide range of industries, a rich resource for evaluating deals and assisting portfolio companies

REPRESENTATIVE PORTFOLIO COMPANIES (194+ DEALS CLOSED)

REACH OUT TO OUR EXPERIENCED TEAM Brian Reynolds Founder & Managing Partner brian@chathamcapital.com Kristen Bernheim Senior Associate kb@chathamcapital.com

Jeff Hagar Partner jh@chathamcapital.com

Christian Bradley Junior Associate christian@chathamcapital.com

Kendal Strickland Managing Director ks@chathamcapital.com

Anish Patel Vice President ap@chathamcapital.com

Lee Smith Associate ls@chathamcapital.com

1372 Peachtree Street NE • Atlanta, Georgia 30309 • tel 770-618-2100 • www.chathamcapital.com

76

US Middle Market Investment Banking Our team advises private companies, private equity funds, and corporations on mergers & acquisitions, junior debt and equity capital raises, and other transactions up to $500 million in enterprise value. CIBC’s middle market investment bankers bring expertise and relationships that extend across industries and borders and have collectively executed nearly 200 transactions over the last five years

Key highlights Provide advisory services to CIBC clients and other relationships 30 professionals in Milwaukee, Chicago, and Denver collaborating with other CIBC business units

Supporting capabilities

Investment banking services M&A Advisory

• Execute transactions up to $500 million in enterprise value • Specialize in sell-side transactions and targeted buy-side assignments

Junior • Raise up to $250 million of Capital mezzanine debt and/or minority equity Placement

Strategic Advisory

Our approach We aim to achieve great client outcomes through disciplined and transparent transaction processes that optimize alternatives, valuation, and deal terms

• Ownership and generational transition planning • Special situations transactions

• Commercial Banking

• Private Wealth

• Capital Markets

• Treasury Management

Visit our website https://cibcusmmib.com About CIBC CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada, and around the world. In the US, CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning.

Learn more about CIBC at us.cibc.com/commercial

• Debt restructuring

Focus industries

Industrials

Business Services

Consumer

Healthcare

Software

77

12/20/24

CIBC Bank USA | Commercial Bank Profile General Information Description CIBC provides U.S. clients with tailored commercial, wealth management, personal and small business financial solutions, as well as cross-border banking services to clients with North American operations. As a leading commercial bank, CIBC offers custom lending, treasury management, capital markets and syndications solutions.

Website

us.cibc.com

Entity Types

Commercial Bank Banking Institution

Also Known As

CIBC

Service Provider Type

Commercial Bank (Primary Type) Lender

Contact Information Primary Office

Southeast Office

120 South LaSalle Street

The Forum at West Paces

Chicago, IL 60603

3290 Northside Parkway NW, 7th Floor

United States

Atlanta, GA 30327

Phone: +1 (312) 564-2000 info@cibc.com

Contact: 404-926-2431 patrick.putman@cibc.com 404.926.2449 timothy.roberts@cibc.com 404-926-2409 jamie.coleman@cibc.com

Preferences Transaction Amount $10.00M - $50.00M Preferred Industries

Geographical Preferences

Preferred Deal Types

Preferred Verticals

Manufacturing, Distribution, Professional Services, IT, Financial Services, Other Services (B2C Non-Financial), Real Estate Investment Trusts (REITs), Real Estate Services (B2C), Regional Banks, Specialized Finance, Thrifts and Mortgage Finance

Southeast Great Lakes, Midwest New England Upper Midwest

Buyout/LBO, Convertible Debt, Debt - General, Debt - PPP, Debt Refinancing, Debt Repayment, Loan, PE Growth/Expansion, Revolving Credit Line, Secured Debt, Senior Debt

Commercial & Industrial Precious Metals Environmental Services Healthcare Innovation Insurance Security Industry Commercial Real Estate

1

78

$850 MM

43

100+

Committed Fund

Platforms

Add-ons

Investment Criteria Company & Investment Size

$4 - 20 million EBITDA $25 - 100 million of Equity

Use of Capital

Control Investments Ownership transition for closely-held or family-owned companies Recapitalizations Buy and build strategies Management buyouts Corporate divestitures

Company Characteristics

History of profitable growth Strong, sustainable competitive position Management wishes to remain with the acquired business Favorable growth prospects

Non-control Investments

Clearview Portfolio Investments by Industry Consumer

7 Healthcare

13

Investments by Location

Business Services

10 3

10

Specialized Distribution

Manufacturing

Ariail Barker, Clearview Capital, L.P.

Get in Touch

704.769.3044 | abarker@clearviewcap.com 1414 South Tryon Street, Suite 300 Charlotte, NC 28203 www.ClearviewCap.com

79

!"#$%&$' 4)J$&'+F$%*. ()*#&*+%, !"#$%&'()*+,%&%*"-.'"#/*+!

NOJPQ!EFHRPPOO

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

)56$.*4$5*&!%)*$%)' !789&07:;<

?+#"4)##!@)&'"0)#!$41!A)084/3/6,

)=>9<?@9=?&*AB9

B$C/&"(,!/&!"4-3+)4("$3!."4/&"(,!/74)&#8"%

$=?98B8C<9&6DE;9

DEF!."33"/4!– DEGF!."33"/4

$F)*G'

DH ."33"/4!– DEF ."33"/4!

,87H?I

I44+$3!6&/7(8!/-!JFKL!$41M/&!)#($<3"#8)1!6&/7(8!(8)#"#

"/%&!/%%$5*&("%*0"+)"

0A9/!"#4@,$*#./%#1/ :%#%.31/93)2*&34

-*.*$%,/0123)$*4*#./ 53&6#",".7/8")/9:;4

0123)$*4*#./ 53&6#",".7/(,%$8")>

=B!">>3)&3/;)%#1/ %#1/C3$%*,3)

-*.*$%,/:%)<3$*#./ 53&6#",".7/%#1/93)2*&34

D"".,3/!,"@1 (%)$#3) E5/93)2*&34/F/9"8$G%)3

-*.*$%,/=#.%.3>3#$/%#1/ ?"7%,$7/9",@$*"#4/

!""#$%&'()%*#+),--).#/,01-*)23'#4%5-,.#66*1 7'%%,#8 $%()%*.#9:#8 ;<=>?#6@AB@"6"#8 555CD%E-,-D3F2)3'CD%G

80

Partnership for the Middle Market Comvest Private Equity is the private equity strategy of Comvest Partners, a leading private equity and credit investment firm with $12.9 billion of assets under management and over $14.4 billion invested since its inception in 2000. Comvest Private Equity pursues control investments in leading middle-market companies that can benefit from the strategy’s financial sponsorship, strategic guidance, and operating resources to build businesses for lasting growth.

Deep Industry Expertise

!"/*&'2*"'+0$1#!-*+

)1"&(2*$

!"#$%&'$()'($*+,+#!*-.+&*$/!)*&

• Consumer Products

• Architecture, Engineering & Consulting

• Consumer Services

• Environmental Services

• Fashion, Beauty & Apparel

• Field & Facility

• Food & Beverage

• Residential and Commercial

• Multi-Unit

• Utility

• Retail & Restaurants

• Value-Added Distribution & Logistics

4*%-'4)%$*+&*$/!)*&

0$1#*&&!1"%-+,+2%"%3*.+&*$/!)*&

• Behavioral Health

• Human Capital / Education

• Dental

• IT / Digital Transformation

• Home Care

• Marketing Services

• Multi-Site Consumer-Driven Models

• Professional Services & Consulting

• Outsourced

• Tech-Enabled Services

• EBITDA $7M+ • No minimum for add-ons • $40M – $150M+ equity check size • Will pursue larger transactions with LP co-investment

'$%"&%)'!1"+'50*&+ • Founder & Family Transition • Leveraged Recapitalizations • Corporate Divestitures • Buyouts

• Supply Chain Services

• Complex Situations • Public-to-Private

• Payor

Team Contacts 2-3%%&4564-78-

?"@%+52-++%+"

Marshall Griffin

Managing Partner m.chawla@comvest.com 561-727-1790

Senior Partner r.marrero@comvest.com 561-727-2020

Partner m.griffin@comvest.com 561-727-2052

9%$,35:-;-''%

2-''5903A

B3>+%75=4%-+

Partner k.lahatte@comvest.com 561-727-2037

Principal m.kunz@comvest.com 561-727-2054

Principal a.shear@comvest.com 561-207-7240

<+,!5=4,%8>&

B8%C5?-1

D%+%E59-'!4,&

Principal e.shields@comvest.com 561-805-3771

Director, Business Development a.ray@comvest.com 561-467-5244

Vice President, Business Development d.katchis@comvest.com 561-227-2799

!"#$%&'(!"#)*+,$-'%.%/0,'1

!"#$%&'()%*"'+,

-,.+'/0

1"2%3045%-.$6

81

<%"9'>/#"/%#? !*-5%2,"#'@."&-#")'%)'.'1"##9%-#-&' 3"#$%&H*"%#-&#$'%-/#)&9#-&';.-B' )1#3%.+%D%-2'%-'$#;&'1+.3#9#-&C'3"#$%&' "#)*+,&%*-C'.-$')1#3%.+')%&,.&%*-)' .$/%)*"0

OP'1"*5#))%*-.+)' ?%&8'#=&#-)%/#' #=1#"%#-3#'.)';*&8' 1"%-3%1.+)'.-$' .$/%)*")

:#$%3.&#$'&*' 1"*/%$%-2' %-$#1#-$#-&C' .3&%*-.;+#'.$/%3#'&*' 9%$$+#H9."B#&' ;,)%-#))#)

JKH0#."'&".3B'"#3*"$' ?%&8'"#1,&.&%*-'5*"' 3,)&*9%D#$' )*+,&%*-)'&*' 3*91+#=' &".-).3&%*-)

:#;&'@+.3#9#-&'@."&-#")

EFG'G$/%)*"0

!"#$%&'(#)*+,&%*-

7#(%.*."4'$8'$34,*(#'%(3,4(#'5460%406.5'8$6'26$941:' (%;0,5,4,$":'),/,)."):'(")'6.8,"("%,"2'

<$31,54,%(4.)'=>?'%(3(@,#,4,.5'4$'(%1,./.'41.' ).5,6.)'46("5(%4,$"'$04%$*.

!"#$%&'(")'*(+,*,-.'/(#0.',"'%1(##."2,"2'%(3,4(#' 5460%406.'5,40(4,$"5

–

A",#',-$#")&.-$%-2'*5'&8#'1"%/.&#'3"#$%&' 9."B#&

–

@"%-3%1.+H9%-$#$'1"*5#))%*-.+)'?%&8'1"%3%-2' .+%2-#$'&*'3+%#-&'*,&3*9#

–

–

@"#)#"/#'3+%#-&'&%9#'&*'%$#-&%50'.-$'1,"),#' -#=&'*11*"&,-%&0

–

6=&#-)%/#'#=1#"%#-3#'.3"*))'-%-#'B#0'%-$,)&"0' /#"&%3.+)

!"#.&%/#+0'$#/#+*1'.-$'.))#))'.++')&".&#2%3' .+&#"-.&%/#)

–

4#3,"#'&".-)%&%*-.+'*"'"#)3,#'5%-.-3%-2

–

6-8.-3#'3+%#-&'3.1.3%&0'&*'#/.+,.&#C';%$C'.-$' 3+*)#'9*"#'&".-).3&%*-)

–

:##1',-$#"?"%&%-2'&*'1"*1#"+0'1*)%&%*-'.-$' $"%/#'%-/#)&*"'#-2.2#9#-&'

–

6/.+,.&#'1*&#-&%.+'+%7,%$%&0'#-8.-3#9#-&)'

–

6=&#-)%/#'"#.38'.-$'.33#))'&*',-%7,#')*,"3#)' *5'3.1%&.+'&*'9.=%9%D#'3#"&.%-&0

–

:%55#"#-&%.&#$'3.1.;%+%&%#)'&*')#3,"#')&.1+#' 5%-.-3%-2'&*'%-3"#.)#'3+*)%-2'3#"&.%-&0

–

:#+#/#".2%-2'&".-).3&%*-)';.)#$'*-'&",#'$#;&' 3.1.3%&0

–

E.&38'3+%#-&)'?%&8'+#-$#")'&8.&'),11*"&'5,&,"#' /%)%*-

–

I-%7,#'.;%+%&0'&*'#=1+*"#'$%/%$#-$' "#3.1%&.+%D.&%*-'.)'.'/%.;+#'.+&#"-.&%/#

–

<+#=%;%+%&0'&*'#=1+*"#'9,+&%1+#'./#-,#)'%-' 1.".++#+

(#1"#)#-&.&%/#'A".-).3&%*-.+'6=1#"%#-3# :#;&'@+.3#9#-&'@."&-#")

EFG'G$/%)*"0

!"#$%&'(#)*+,&%*-

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

82

Providing Capital & Operational Experience to Manufacturing, Industrial Technology, Industrial Services, and Consumer Product Businesses CORE Industrial Partners is a private equity firm investing exclusively in lower middle market manufacturing, industrial technology, industrial services, and consumer product businesses. We believe we go beyond the traditional private equity approach and use our capital, insight, and differentiated operational experience to build great companies.

Revenue up to

CORE has raised more than $1.58 billion of capital commitments and has completed over 50 transactions. Learn more at coreipfund.com.

$25M

$200M EBITDA up to Equity up to

Operational experience, industry connectivity, and resources to advance your company’s leadership position

Ability to move quickly and close using $1.58B+ of committed capital

$887M of capital commitments closed in February 2024 Flagship Fund III: $685M Services Fund I: $202M

Manufacturing • Aerospace & Defense • Automotive & Transportation • Building & Infrastructure • Electrical & Power • Food Manufacturing • Highly Engineered Components

Family Succession | Leveraged Buyout | Growth Capital | Management Buyout | Carveouts | Turnarounds

Industrial Technology

• Machinery & Equipment • Medical Products • Paper & Packaging • Personal Care Products • Specialty Materials

• Additive Manufacturing • Automation & Robotics • Motion & Process Control • Power Production & Management • Rapid Prototyping

Industrial Services • Environmental Services • Equipment Services • Facility Services • Field Services • Industrial Technology Solutions • Infrastructure Services

$150M Majority Control

• Maintenance, Repair & Operations • Specialty / Value-Added Distribution • Testing, Inspection & Compliance

• Optics, Lasers & Photonics • Sensors & Instruments • Testing & Measurement • Water & Environmental Technology

Consumer Products • Beauty & Cosmetics • Branded Products • Household Care • Paper & Packaging • Food Ingredients • Food Packaging

• Food Automation & Processing Equipment • Food Distribution • Pet Products & Services

John May

Frank Papa

TJ Chung

Carissa Walker

Adam Miller

Managing Partner john@coreipfund.com

Senior Partner

Senior Partner

Matt Puglisi

Rock Lambert

Bob Nardelli

Principal Business Development carissa@coreipfund.com

Senior Vice President Business Development adam@coreipfund.com

Partner matt@coreipfund.com

Operating Partner

Senior Operating Partner*

Jason Fulton

Ronald Rascia

Partner jason@coreipfund.com

Managing Director

Sofia Byrne Senior Associate Business Development sofia@coreipfund.com

*Mr. Nardelli is not a CORE employee but serves as a dedicated advisor to CORE.

CORE Industrial Partners inquiries@coreipfund.com

Chicago Office: 110 N Wacker Dr, Suite 2200, Chicago, IL 60606 Austin Office: 300 Colorado St, Suite 1850, Austin, TX 78701 Cleveland Office: 100 Park Ave, Suite 208, Orange Village, OH 44122

coreipfund.com ©2024 COREIndustrial Partners

83

140 E 45th St, 43rd Fl, New York, NY 10017

!212) 370-5600 www.cortecgroup.com

JPCEL BCHLGB

NDSG?LFGDLR?LHJLGTO

▪ U&1%)")R/%RW9Z[R4>R410/%"00R ","21./3"0

▪ !""# $%&'(")*" +%) ",#"-./0" /% #-&)12.0 +%) 0"-3/2"0 410/%"00"0 +2-&00 .5" 6&((&'/%* 0"2.&-07

! N)99'('.&)%&'26+3%*5'B%22'2++ 1%(&.'(+9,(+;%.%4';'.& ! C,;1*'&'2 [Q 1*%&9,(; ).3'/&;'.&/+%.2+W\: %22B,.+%:<5)/)&),./!P# ▪ ?,.4+%.2+:,./)/&'.&+&(%:=+ (':,(2+,9+5"(#/%*R <+%+*"<"%.R41/()R4".."-R 410/%"00"0 ▪ L:0)'3'2+.&#R]1+-./("R&-R4".."-R -".1-%0!S# %:(,//+,5(+&0('' 95**A+ ('%*)D'2 95.2/ ▪ C5(('.&*A+).3'/&).4+C,(&':+ \(,51+K5.2+RIIIG+ZV^_QR4/((/&%R 2(&0")R/%RU"4-1+->RQ:Q[

BCD?EFGH

IGJKLIBJHG

▪ 89:; &6 &1- #(+.6&-<0!"# 5+3" 4""% "%.-"#-"%"1-=(") &- 6+</(>=

&'%") 410/%"00"0 ▪ ?"(("-0 @ <+%+*"<"%. 101+((> 5+3"7 !" $%&'()%*+,-.'(/0)1+%.2+2'/)('+&,+(').3'/&+%*,.4/)2'+5/6+%.2+7+,( !" 8)4.)9):%.&+).9*5'.:'+).+2'&'(;).).4+&0'+9).%*+%:<5)('(

▪ A" #+-.%"- '/.5 &'%"-0 &6 5/*5= &- 0."+)>=*-&'.5 410/%"00"0 '5& +-"7

! 8''=).4+%.+'>1'()'.:'2+&'%;;%&'+&,+0'*1+&0';+:,.&).5'+/:%*).46+,( ! ?,,=).4+&,+&(%./)&),.+,5&+,9+&0'+@5/).'//+,3'(+%+2'9).'2+&);'+1'(),2

NDSG?LFGDLRBHNLGHNJ

`GORINTIKNTIL?

[:YR O"+-0

O*%&9,(;++++++++++++ I.3'/&;'.&/!P#

]9+I.3'/&).4+ E)/&,(A

8VW[P

8Va_[P M,&%*+L^$

[Q

M,&%*+ M(%./%:&),.+ R%*5'!P#

Q\ O*%&9,(;+ H>)&/!P#

Z I./&)&5&),.%*+ K5.2/

[_a,R@R^_a, \(,//+7+_'&+++++++++++ $]IC!Y#!U#

?MGBNJKLO PQP

C,.&(,*+ I.3'/&;'.&/

8&(,.4 $%(4)./+J K(''+C%/0+K*,-

VW:FFR.& VX:FFY

E#R.& VX::FF

,9+L..5%*+ HFIMNL

,9+H<5)&A+ C,;;)&&'2 O'(+O*%&9,(;

!`aP+;)**),.+9,(+%22B,./#

AIORAG JHGR!NUUGHGDL ▪ K&%*=."%1-") 0"%/&- ."+< '/.5 -"+(='&-() 410/%"00 $%&'(")*" ! The Cortec senior team averages ~29 years of experience leading value-added middle market businesses ▪ !/3"-0" 410/%"00 ",#"-/"%2" +%) +21<"% .& +)) -"+( 3+(1" ! $''& ('45*%(*A -)&0 '%:0 1,(&9,*), company’s *'%2'(/0)1 &'%; &, 1(,@*';B/,*3' :,**':&)3'*A ! $%.%4';'.& *'3'(%4'/ C,(&': &, %22('// :0%**'.4'/ %.2 :%1)&%*)D' ,. ,11,(&5.)&)'/ ▪ ?122"0061( .-+2$ -"2&-) )-/3"% 4> Cortec’s +##-&+25 ! C,./)/&'.& 9,:5/ ,. ,5( :,(' /&(%&'4A ,3'( 2':%2'/

! E'*1 1(),()&)D' /&(%&'4): %.2 4(,-&0 ).)&)%&)3'/ ! F5)*2 &'%;/6 %.2 );1*';'.& 1(,:'//'/ %.2 /A/&';/G 2'3'*,1 ;%(='&).4 %.2 .'- 1(,25:&/G );1(,3' /511*A :0%)./ %.2 *,4)/&):/ ! H>':5&' %.2 ).&'4(%&' %22B,. %:<5)/)&),./

!P# Q'9*':&/+%**+1*%&9,(;+%.2+%22B,.+%:<5)/)&),./+:,;1*'&'2+).+C,(&':+III+– RII+%/+,9+8'1&';@'(+STSUV !S# L::,(2).4+&,+C,(&':+).&'(.%*+2%&%+%.2+(%.=).4+:%*:5*%&),./+5/).4+O('<). 2%&%+!@,&0+@%/'2+,.+.'&+;5*&)1*'+,9+).3'/&'2+:%1)&%*+%.2+).&'(.%*+(%&'+,9+('&5(.#+9,(+STTT6+STTW+%.2+STPP+3).&%4'+95.2/+%/+,9+X5.'+ STSUV !Y# Includes Cortec’s estimated portion of escrow, tax benefits, deferred payment and / or seller reserve. !U# I.:*52'/+%**+('%*)D'2+%.2+1%(&)%**A+('%*)D'2+).3'/&;'.&/+;%2'+@A+C,(&':+III+– RII+%/+,9+X5.'+STSUV !"# Q'9*':&/+1*%&9,(;+%:<5)/)&),./+).+C,(&':+R+– RII+%.2+%::,5.&'2+9,(+ZPTT[+,9+%22B,.+%:<5)/)&),./V

84

<(&,#$=$1*5+*($ >*(90)*$:(&90+*($#7:*?$@59*%#-*5# 1"52$$A$$B*"($,&'5+*+?$CDDE

<(&,#$=$1*5+*($0%$"5$059*%#-*5#$8"52056$,0(-$8"%*+$05$ F#3"5#"4$ G*&(60";$ H.*$ ,0(-$ :(&90+*%$ -*(6*($ "5+$ ")I'0%0#0&5$ "5+$ )":0#"3$ ("0%056$ %*(90)*%$ #&$ -0++3*J -"(2*#$ "5+$ *-*(6056$ 6(&K#.$ )&-:"50*%;$ $ H.*$ ,0(-$ -"05#"05%$8(&"+$05+'%#(7$*L:*(#0%*4$K0#.$"(*"%$&,$,&)'%$ 05)3'+056$#.*$8'%05*%%$%*(90)*%4$05+'%#(0"34$#*).5&3&674$ .*"3#.)"(*$"5+$)&5%'-*($%*)#&(%;

<&5#")#

/(0-"(7 <&5#")#%

MMNC$O&(#.%0+*$/"(2K"7$ >'0#*$PDQ$ F#3"5#"4$GF$PNPRS$ T50#*+$>#"#*%$ UC$VMNMW$XMCJPCPC

Frank H. “Bo” Briggs, III Y"5"6056$!0(*)#&($ 88(066%Z)(&,#J8*5+*(;)&-$ [&5"3+$1;$G&3+-"5$ Y"5"6056$!0(*)#&($ (6&3+-"5Z)(&,#J8*5+*(;)&-$ >#*9*$1;$H7*$ Y"5"6056$!0(*)#&($ %#7*Z)(&,#J8*5+*(;)&-$

G*5*("3$%#"#0%#0)%$ H"(6*# \1@H!F

H"(6*# #("5%")#0&5 "-&'5#

]QYJ]SNY$

]MNYJ]SNNY

[*)*5#37$)3&%*+$#("5%")#0&5%$ @59*%#&(^)&-:"57 %*(90)*+

>*(90)*

!*"3 #7:*

<30*5# 3&)"#0&5

_'-*L

F+90%&(?$G*5*("3

>"3*

`*55*%"K4$GF

<&9"5a%$@5%'3"#0&5$

F+90%&(?$G*5*("3$

>"3*$

b&5*"$/"#.4$><$

c*.-"5$/0:*$=$/3'-8056$>'::37

F+90%&(?$G*5*("3$

>"3*$

Y0"-04$_c$

[*5#905*$

F+90%&(?$G*5*("3$

G(&K#.$\I'0#7$

\%#*(&4$_c$

"#$%&!'#()*+$!,-%.#-/*.-(0!1(23405

F+90%&(?$G*5*("3$

>"3*$

F#3"5#"4$GF$

>'%.0$F9*5'*$

F+90%&(?$G*5*("3$

Y*(6*($^$F)I'0%0#0&5$

\"6"54$YO$

['%%*33$c"5+%)":*$

F+90%&(?$G*5*("3$

[*)":0#"30d"#0&5$

>'6"($b0334$GF$

>&'#.*(5$\L#*(0&(%$

F+90%&(?$G*5*("3$

>"3*$

e")2%&54$GF$

>'5%.05*$F0($<&5+0#0&50564$@5);$

F+90%&(?$G*5*("3$

[*)":0#"30d"#0&5$

1*33*90*K4$_c$

T>$<"805*#$!*:&#

F+90%&(?$G*5*("3$

[*)":0#"30d"#0&5$

Y"(0*##"4$GF$

\5#*2$>&3'#0&5%$

F+90%&(?$G*5*("3$

>"3*$

1',&(+4$GF$

c0-*.&'%*$/(&+')*$

F+90%&(?$G*5*("3$

>"3*$

O&(#.$<."(3*%#&54$><$

F<Y\$1"((0)"+*%$

F+90%&(?$G*5*("3$

[*)":0#"30d"#0&5$

e")2%&59033*4$_c$

H("5%")#0&5%$87$05+'%#(7$V3"%#$CN$7*"(%W$ =458-*55!>*7?8+*5

'($

;.-54<*7

""$

:*9/6,+97*

""$

2-3456789/ )*+,-./.01

%&$ "#$

!"#"$%&'()*+$,(&-$#.*$/0#).1&&2 /3"#,&(-4$#.*$,05"5)0"3$05,&(-"#0&5$#*).5&3&67$#('%#*+$87$3*"+056$059*%#&(%4$)&-:"50*%$"5+$"+90%&(%;

85

x x x x x x x

x x x x x x

x x

86

x

x x x

x x

x x

Last Updated: 14-Nov-2022 pbId: 60982-39

Generated by PitchBook for Gloria Kantor, ACG

De NES Partners | Investment Bank Profile General Information Description De NES Partners is a boutique mergers and acquisitions advisory firm dedicated to serving owners of single and multi-generational families and other privately-held businesses across the United States and works across the full spectrum of manufacturing, distribution, and company-to-company business services. The firm was founded in 2013 and is based in Atlanta, Georgia.

Website

www.denespartners.com

Year Founded

2013

Entity Type

Investment Bank

Employees

2

Formerly Known As

CBIZ Mergers & Acquisitions Group

Service Breakdown

Legal Name

De NES Partners, LLC

Service Provider Type

Investment Bank

Serviced Companies: 19 Serviced Deals: 18 Serviced Investors: 1

Contact Information Primary Contacts

Primary Office

Douglas Hubert, Co-Founder & Managing Partner

5 Concourse Parkway

dhubert@denespartners.com Phone: +1 (770) 858-4491

Suite 3000 Atlanta, GA 30328

Donald Schaeffer, Co-Founder & Managing Partner dschaeffer@denespartners.com Phone: +1 (770) 858-4493

United States Phone: +1 (770) 858-4491

Preferences Enterprise Value $20.00M - $300.00M

Transaction Amount $20.00M - $300.00M

Preferred Industries

Geographical Preference

Preferred Deal Types

Preferred Verticals

Business Products and Services (B2B), Consumer Products and Services (B2C), Healthcare, Information Technology, Manufacturing, Healthcare

United States

Add-on, Buyout/LBO, Leveraged Recapitalization, Management Buyout, Merger/Acquisition, PE Growth/Expansion, Recapitalization

E-Commerce, HealthTech, HR Tech, Industrials, Infrastructure, InsurTech, Legal Tech, Manufacturing, Marketing Tech, Mortgage Tech, SaaS, TMT, Healthcare, Manufacturing

Copyright © 2022 PitchBook Data, Inc. All rights reserved.

Provided under contract for the exclusive use of subscriber Gloria Kantor, ACG.

1

87

Industries

ABOUT DEERPATH

18 Years

$12.0B+

A TRUSTED LENDING PARTNER

INVESTED CAPITAL SINCE INCEPTION

$3.0B

~150

GROSS ORIGINATION VOLUME LTM

82

UNIQUE BORROWERS FUNDED LTM

ACTIVE PORTFOLIO COMPANIES

149

UNIQUE SPONSOR RELATIONSHIPS SINCE INCEPTION

Investment products include: First Lien Senior Secured Loans Target investment hold size: $25 million to $125 million with the ability to partner with other investors for larger transactions Deerpath Target Market: EBITDA of $5 million to $25 million Since 2007, Deerpath Capital has deployed over $12.0 billion of invested capital in more than 1,000+ investments, across a broad range of industries and transaction types.

We have direct origination and execution capabilities throughout the United States with origination offices in 5 major markets. In addition, our London, Seoul, Tokyo, and Australia locations support international investors.

FOR BUSINESS INQUIRIES:

Orin Port – Managing Director, Head of Sponsor Coverage oport@deerpathcapital.com | 954-703-6041 For more information, please visit www.deerpathcapital.com New York Boston Chicago Fort Lauderdale Unless otherwise specified, all data is as of 9/30/24

88

Aerospace & Defense Allergy Services Automotive Components Automotive Collision & Repair Building Products Car Wash Operators Chemicals Commercial Services & Supplies Construction & Engineering Consulting Services Consumer Products Dental Dermatology Distribution Education Environmental Remediation Facilities Services Fitness Operators Food & Beverage Healthcare Physician Practices Healthcare Staffing Home Health Household Products HVAC Services Insurance Brokerage Services IT Managed Services Janitorial Services Life Science Services Machinery Manufacturing Ophthalmology Orthodontia Orthopedics Outsourced IT Services Outsourced Pharmaceutical Services Physical Therapy Primary Care Professional Services Refrigeration Repair Services Restaurants & Entertainment Restoration Services Revenue Cycle Management Security & Alarm Services Software Services Transportation Urgent Care Urology Utilities Services Veterinary Warehousing & Logistics

Premier Buy-Side Search Services 35+

$65B+

900+

100+

Years in Business

Total Transaction Value*

Deals Closed*

Full-time Employees*

Decades of Experience Sourcing Proprietary Deals The Dinan & Company name is practically synonymous with success in buy-side M&A. We have developed expertise in generating proprietary deal flow for private equity, strategic buyers, and family offices, in both new platform and strategic add-on scenarios.

The core of our success begins with a proprietary database of the largest 570,000+ companies in North America, which has been methodically developed over the last 35 years.

The operational, financial, and situational characteristics compiled about these companies is unparalleled in the industry. This, coupled with a highly structured four-phase buy-side acquisition search program, has positioned us as the nation’s leading buy-side M&A group.

Access proprietary deal flow today.

Contact us to discuss your acquisition criteria.

Event Attendee:

Jeff Reichard Director of Business Development jreichard@dinancompany.com

Industry Expertise Understanding a client’s industry, growth opportunities, value drivers, and challenges is paramount to obtaining a successful engagement outcome. We provide our clients with senior-level industry expertise through our dedicated industry groups in the following sectors:

Business Services Financial Services Professional Services

Industrials Aerospace & Defense Distribution Energy & Infrastructure Industrial Services Manufacturing

Consumer B2C Services Consumer Products Food & Beverage

Technology IT & Managed Services Software Tech-enabled Services

Healthcare Physician Practice Mgmt Post-Acute Care Healthcare Products Provider & Payor Services

Transportation & Logistics

Building Products & Services Sub-Contractors

Scan to view Dinan’s recent dealflow

Headquarters: 307 N. Gateway Blvd | Phoenix, AZ 85008-6589 | 602.248.8700 | dinancompany.com Branch Offices: Atlanta, GA | Chicago, IL | Nashville, TN | San Francisco, CA | New Delhi, India *Firm-wide data for Dinan & Company and Dinan Capital Advisors combined

89

Premier Sell-Side Advisory Services The Right Process at the Right Time Selling your business may be the biggest financial decision of your life. Dinan Capital Advisors achieves strong valuation premiums and some of the highest closing success rates in M&A. Let us help you achieve your ideal outcome.

The success of your sale begins with a strategic partnership with an advisor who can guide you in evaluating the best time to sell and optimal structure ffor the transaction. Dinan Capital’s senior M&A professionals ensure you explore all relevant sale considerations.

Is now the right time to sell? Contact us for a complimentary analysis.

The Dinan Difference Decades of Expertise

Middle Market Focus

Decades of Data

Experience matters. Our decades of expertise empower us to guide clients through complex transactions, regulatory changes, and evolving markets with confidence. With a singular focus on M&A, we’ve seen nearly every type of transaction, building comprehensive expertise across a wide range of deal structures.

Dinan was founded to bring Wall Street-caliber expertise to business owners in the thriving middle market. With decades of experience exclusively in the middle market, we have deep insight into its dynamics. Our extensive network of relationships enables us to identify the right financial and strategic buyers to bring to the table.

Drawing on over 35 years of cultivating direct relationships with business owners, Dinan has assembled an extensive database of the 570,000+ largest private companies in the U.S. By leveraging advanced AI technology, Dinan now has unmatched access to exclusive market insights drawn from this extensive data set.

Event Attendee:

Tom Gerlacher Managing Director, Dinan Capital Advisors tgerlacher@dinancapital.com

Scan to view Dinan’s exclusive sell-side mandates

Headquarters: 307 N. Gateway Blvd | Phoenix, AZ 85008-6589 | 602.248.8700 | dinancompany.com Branch Offices: Atlanta, GA | Chicago, IL | Nashville, TN | San Francisco, CA | New Delhi, India

90

67879:7 8;<9=;>? 67=;9@ 8A@=6A> !"+ /) #.)

A8H/ ,-".*)/& ( I47-*) J-/)*' &"38'*"# 6*'I )/7' (#) /K8*'4%3*H/ 1/('8-/& '" 3"6/- 2*))3/ 2(-H/' J"2,(#*/&L M/ 7(JH N>O&0 784 (#) 78*3) &'-('/$*/&0 &I(-/I"3)/- -/&'-8J'8-*#$& (#) )/7' -/1*#(#J*#$&0 6I*3/ (33"6*#$ "6#/-& (#) 2(#($/2/#' '/(2& '" -/'(*# /K8*'4 J"#'-"3 "1 'I/*78&*#/&&L

0'12314 5+*'$3+1, NB_B]=N=_@ >V^OV@G

>V^ c >V?!A G@`B@=]?=G

GPB`=PO!A=` `=G@`VY@V`?_]G

!"#$ &'() *++(, -+.

• !"#$%&'(#)*#$+,-*.('/0+1(2*34+5+"6#/-% ",/-('/)+78&*#/&&/& • 9:2%9;<2+"1+=>?@AB

• ?#./&'2/#'+&*C/+"1+9D2%9EF2 • G'-"#$+2(#($/2/#'+'/(2

A=>@ `=[?_B_Y?_]

<.)-)..)2 5)E$+., • ?#)8&'-*(3& • N(#81(J'8-*#$ • A*&'-*78'*"# • >8&*#/&&+G/-.*J/& • P/(3'IJ(-/ • @/JI#"3"$4

B)C &'() =).D, • G/J8-/)+)/7'+*#&'-82/#'+Q78'+6*33+&*'+7/I*#)+(+&'(#)(-)+6"-H*#$+J(,*'(3+1(J*3*'4R • E<%4/(-+'/-2

• ;ELFS%;TL<S+*#*'*(3+J(&I+4*/3)+Q*#J38)*#$+,-*#J*,(3+(#)+*#'/-/&'R • =U*'+1//+"1+;FS%E<S • N(U+;<S+/K8*'4+&'(H/+"#+VG+)/(3&

!"#)"# TD5Ta+\*JJ()*334 ;&'+[3""N"7*3/Z+QXTDR+aTX%DDXT !"#)"#0+VLWL N"7*3/Z+QXTDR+::T%XTTT N"7*3/Z+QXTDR+aTX%DDX: =2(*3Z+&-8&&"b)8H/J(,*'(3LJ"2 =2(*3Z+(d(4b)8H/J(,*'(3LJ"2 =2(*3Z+'"224b)8H/J(,*'(3LJ"2 M;e+<A@ G'/./# `8&&" \-*#J*,(3

Bd(4 GI*.)(&(#* \-*#J*,(3

@"224 G'(2()*(#"& B&&"J*('/

@"-"#'" T+W*#$+G'-//'+ML G8*'/+T<; @"-"#'"0+O#'(-*" NFP+;>X

A8H/+Y(,*'(3+!*2*'/)Z+["8-'I+[3""-0+\3(C(+P"8&/0+B)2*-(3+\(-H0+G'+\/'/-+\"-'0+]8/-#&/40+]^;+:PVL+A8H/+Y(,*'(3+!*2*'/)+*&+-/$*&'/-/)+6*'I+'I/+ ]8/-#&/4+[*#(#J*(3+G/-.*J/&+Y"22*&&*"#+(&+(+_"#%`/$83('/)+[*#(#J*(3+G/-.*J/&+>8&*#/&&+'"+J(--4+"8'+!/#)*#$+ 666L)8H/J(,*'(3LJ"2

91

()*+,-./"0121$34$-!$"*$ !"#$%&'%()*"+,&-"(,+%(.&/.&"&0(/1",%&%23/,4&5/(6&*%"723"(,%(%7&/+&8,$"+,"9&:8;&!"#$%&/+1%.,.&/+&$<=%(&6/77$%>6"(?%,& @("+)*/.%&A&'3$,/>B+/,&"+7&C<66%()/"$&D%(1/)%.&)<60"+/%.&0(/6"(/$4&/+&,*%&D<3,*%".,%(+&B;D; E%&$<<?&5<(&<00<(,3+/,/%.&,<&0"(,+%(&=/,*&5<3+7%(><=+%(.&"+7&%F)%0,/<+"$&6"+"#%6%+,&,%"6.&,*",&="+,&,<& "))%$%(",%&,*%&#(<=,*&<5 &,*%/(&)<60"+4; !"#$%&/.&+<=&/+1%.,/+#&<3,&<5 &/,.&.%)<+7&53+79&!"#$%&'%()*"+,&-"(,+%(.&GG9&H;-;&

!"#$%&'$"&1*-!&$-!) ,$.,-)4GH ,56789:;<

= !")"*!)I =>?9?@>9A1%>B5

• @<)3.&<+&)<60"+/%.&=/,*& <0%(",/<+.&/+&,*%&D<3,*%".,& /+)$37/+#&I%F".

• C<60"+4 !JGIK8L&MN&> MNO& 6/$$/<+

• @"6/$4><=+%7&,("+./,/<+ • @/(.,&/+.,/,3,/<+"$&)"0/,"$ &89?C9@D>6?C1E1 • S%)"0/,"$/P",/<+.

&-)"%)*&!."% %>DF9D>6?C

• :(<=,*&)"0/,"$

• G+73.,(4&)<+.<$/7",/<+9&"77><+.

• C"(1%><3,.

• !23/,4&C*%)?&D/P%L&MQO&> MRO& 6/$$/<+

!"#$%&'$"&%

@("+)*/.<(&<5&(%./7%+,/"$& "+7&)<66%()/"$&)<+)(%,%& .%(1/)%.

-(%6/%(&63$,/>3+/,& 6%7/)"$&.0"&Z".%7&/+&,*%& D<3,*%".,

@("+)*/.%%&<5&#"("#%9& %$%),(/)9&"+7&0$36Z/+#& *<6%&.%(1/)%.

@("+)*/.<(.&<5&)"Z/+%,&"+7& 53(+/,3(%&(%.,<(",/<+&"+7& *<6%&/+.0%),/<+&.%(1/)%.

C<66%()/"$&(<<5/+#&"+7& =",%(0(<<5/+#&.%(1/)%.& 0(<1/7%(

Y0%(",<(&<5&"3,<&)<$$/./<+& (%0"/(&.*<0.

@("+)*/.<(&<5&*%"$,*&"+7& ."5%,4&.%(1/)%.

TUOV>3+/,&5("+)*/.<(&<5& ?/7.&)<7/+#&)%+,%(.

K%./#+%(&A&6"+35"),3(%(& <5&(%)(%",/<+"$&.3(5")/+#& 0(<73),.

H"(#%.,&-$"+%,&@/,+%..& 5("+)*/.%%&=/,*&QWX& $<)",/<+.

Y0%(",<(&"+7&7%1%$<0%(& <5&0(%6/369&%F0(%..&)"(& =".*%.

QROV>3+/,&5".,>)".3"$& (%.,"3("+,&5("+)*/.<(

*/--$"&

92

$3!&$0

Financing solutions provider for capital needs from $10-$250 $10-$100 million Chicago

Overview

Ed Ross 847-859-3941 eross@fidusinv.com



Fidus Capital manages over $1.0 billion of assets via multiple financing vehicles including its publicly traded business development company (NASDAQ: FDUS). We have completed over 210 new platform investments and over 500 acquisitions since our inception in 2007



Our partners have an average of 25+ years of experience investing across multiple industries and asset classes including senior, second lien and junior debt securities and various of equity structures

Andy Worth 847-859-3943 aworth@fidusinv.com



Fidus provides debt and equity financing solutions to lower middle market companies with revenues typically ranging from $10 - $250 million



We partner with financial sponsors, management teams and business owners to provide customized financing packages to meet the specific needs of our clients and their companies

Craig Petrusha 847-859-3952 cpetrusha@fidusinv.com

Investment Criteria 

Company EBITDA:

>$3 million (except for certain SaaS/software/recurring revenue businesses)



Facility Size Range:

$10 million to $250 million



Investment Purpose:

Change of control, business expansion, add-on acquisitions, transformational growth initiatives, refinancings and dividend recapitalizations



Investment Structures:

Unitranche debt, second lien debt, mezzanine debt, preferred stock and common equity



Investment Profile:

Cash Flow, ARR, and Asset Based credit facilities



Industry Focus:

Fidus invests in businesses that operate in the following industries:

 Aerospace & Defense

 Infrastructure

 Business Services

 Logistics & Transportation

 Consumer Products / Multi-Unit Concepts

 Niche Manufacturing

 Healthcare Products / Services  Industrial

 Software & Tech-Enabled Services  Value-Added Distribution

Partnering with Fidus 

Demonstrated focus in the lower middle market (companies with $20-$300 million in enterprise value) since our founding in 2007

Connor Hoesley 847-859-3947 choesley@fidusinv.com

Charlotte Tom Lauer 704-334-2337 tlauer@fidusinv.com Robert Lesley 704-334-2253 rlesley@fidusinv.com John Herring 704-887-6748 jherring@fidusinv.com Will Brown 704-334-2331 wbrown@fidusinv.com

New York Mike Miller 212-750-6446 mmiller@fidusinv.com Matt Culbertson 212-750-6521 mculbertson@fidusinv.com

Dallas



Knowledge of the operational and managerial complexities and challenges that growing lower middle market companies might encounter during their evolution

Brien Davis 214-288-3917 bdavis@fidusinv.com



Industry expertise, a network of resources, flexible capital solutions and a team that has deployed more than $2.3 billion of capital together

Los Angeles



Fidus is Capital. Partnership. Expertise.

Ron Won 949-333-9495 rwon@fidusinv.com

93

!"#$%&'()* +,%'-,.* '$* ,* %&'/,-"* "01'-2 3'&#* $%"4',.'5'()* '( .67"&8#'99." #,&:"-*46#%,('"$;*<'-= 6/"&*>?;@*A'..'6(*63*4,%'-,.*1(9"&*#,(,)"#"(-B*7" %&6/'9" 3."C'A."* 4,%'-,.* $6.1-'6($* ,(9* %,&-("&* 7'-=* -,."(-"9* #,(,)"#"(-* -",#$*-6 =".%*46#%,('"$*,4='"/"*-="'& 31..*%6-"(-',.;

!"#$ %&'()*+,-. ! D"/"(1"*63*1%*-6*>EFF* #'..'6(*%"&*2",& /001*2! D"/"(1"*63*,-*.",$-*>E* #'..'6(*%"&*2",&

; " 5 = .> / : ? 3 5 4 < 9 @ ! G,(9$86(*,%%&6,4=*-6*=".%*9&'/"*)&67-=B*#,&:"-* .",9"&$='%B*6%"&,-'6(,.*"C4".."(4"*,(9*$-&,-")'4*/,.1"*36&* 61&*%,&-("&*46#%,('"$ ! T."C'A."*'(/"$-#"(-*#,(9,-"*7'-=*,%%"-'-"*36&*46#%."C'-2* ,(9*,A'.'-2*-6*%&6/'9"*-,'.6&"9*$6.1-'6($ ! [\F*%"&$6( -",#B*'(4.19'()*3'/"*9"9'4,-"9*A1$'("$$* 9"/".6%#"(-*%&63"$$'6(,.$ ! +6#%."-"9*[@F*'(/"$-#"(-$*$'(4"*]F^\

3$435/%67 ! GH*'(*I('-"9*J-,-"$* ,(9*+,(,9,

! $ : 8 4 5 .; 4 : < !

8 5 / 9 ! / : 8 " 4 9 .8 7 % $ ! ! +6&%6&,-"*+,&/"861-$*K* L'/"$-'-1&"$ ! !&67-=*M01'-2 ! N"/"&,)"9*O1261-$ ! P&"3"&&"9*M01'-2 ! D"4,%'-,.'5,-'6($ ! D"$-&14-1&'()$ ! J-&,-")'4*L"A! J-&14-1&"9*M01'-2

OIJVUMJJ* JMDWV+MJ

+RUJIXMD*PDRLI+YJ S*JMDWV+MJ

TVUQU+VQN*S* VUJIDQU+M*JMDWV+MJ

GMQNYG+QDM*

VULIJYDVQN* JMDWV+MJ

JRTY<QDM*S* YM+G8MUQONML*JMDWV+MJ

JPM+VQNYZ* XQUITQ+YIDVU!

A 6 / 8 .A $ . 8 / 5 3 $ 8 ! V(91$-&2*.",9"&$*7'-=*)&67-=*%6-"(-',.*-=,-*7'..*A"("3'-* 3&6#*61&*$1%%6&-*,(9*"C%"&-'$" ! R%%6&-1('-'"$*-6*."/"&,)"*'(91$-&2*"C%"&'"(4"*,(9* "C"41-'/"*("-76&: ! +6#%.'4,-"9*$'-1,-'6($*7="&"*7"*4,(*%&6/'9"*-,'.6&"9* 4,%'-,.*$6.1-'6($*

E_*<'.-6(*D6,9*<"$-%6&-B*+Y*F\@@F** * * * ***^F^*J;*Y2&6(*J-&""-B*]a-=*T.66&B*+=,&.6--"B*U+*]@]@F*******

94

QMDRJPQ+M*S LMTMUJM

* * * * BBBCDE,-F+G2DCH*,

^^`^^*J,(*W'4"(-"*O./9B*]]EB*N6$*Q()"."$B*+Q*`FF_` ************@aE*U;*G')=*J-;**?&9*T.66&B*+6.1#A1$B*RG*_?]^E

A>+B>+;)*)8!C46;6@6<7;

!8?6@89)+86;>

▪ !"##$%&'"()*'(+,-$%&'" ▪ .)*)/"0"*1(+,-2,1% ▪ 3"%14,51,4&*/% ▪ 624724)1"(8&9"%1&1,4"%

56787!689)82:6;<+=);>+:6!>;

▪ ;4&9)1"(;#)5"0"*1% ▪ 3"5)7&1)#&X)1&2*% ▪ ;4&9)1"(:*9"%10"*1(&*(;,B#&5(OY,&1-(Z;:;O[

Q%$.#'$$)*)6#H%$,(.-/);'(P.G'$

▪ 6)7&1)#()*'(!14)1"/&5(;#)**&*/ ▪ N)&4*"%%()*'(S)#,)1&2*(J7&*&2*% ▪ 6200&11""(3"74"%"*1)1&2*

!"#$%&'()*)+',-./)

S'-/,1G-(');'(P.G'$)

9'.$%(')*)>#,'(,-.#&'#, 6#H%$,(.-/)R)A-#%N-G,%(.#3

01-,)2.$,.#3%.$1'$)4$ ◼

:*'"7"*'"*1(;#)1<240 ➢ ➢

◼

Focus on “Need” vs. Size ➢ ➢

◼

◼

=2(52*<#&51%(2<(&*1"4"%1(<420()%%"1(0)*)/"0"*1>(#"*'&*/>( 4"%")45?>(14)'&*/(24(74&*5&7)#(&*9"%1&*/ .,#1&$&*',%14-(74)51&5"(74"9"*1%(52*<#&51%(@&1?(%)0"(&*9"%124%(A( B,-"4%(A(%"##"4% 6#&"*1%(3)*/"(<420(,*'"4(CDE(0&##&2*(12(29"4 CFE(B&##&2* G4)*%)51&2*%(4)*/"(<420(,*'"4(CHD(0&##&2*(12(29"4(CI(B&##&2*

➢ ➢

T7742R&0)1"#-(HEU(2<(2,4(14)*%)51&2*%

624724)1"(8&9"%1&1,4"% ➢

◼

;,B#&5(6207)*&"%(V(N)0&#-(+,%&*"%%"%

:*1"4*)1&2*)#(V(642%%$+24'"4(G4)*%)51&2*% ➢

◼

.,#1&$M"*"4)1&2*)#(N)0&#-(+,%&*"%%"% O*14"74"*",4$P"'(6207)*&"% ;,B#&5(624724)1&2*%

+,-$!&'"(OR7"41&%" ➢

◼

!,55"%%<,#(J,1520"%(K&1?L ➢

◼

8""7(Q*2@#"'/"()*'(OR7"4&"*5"(K&1?(S)4&2,%( G4)*%)51&2*(G-7"%()*'(:*',%14&"%

OR"5,1"'(*,0"42,%(14)*%)51&2*%(2*(%&R(52*1&*"*1%

Complex, “Storied” Transactions ➢ ➢ ➢

3"%14,51,4&*/% 8&%14"%%"'(A(+)*W4,715J47?)*"'(;241<2#&2(6207)*&"%

+'L('$'#,-,.P')@(-#$-G,."#$)

a portfolio company of

has been acquired by

has received a majority investment from

(NYSE:AIT)

has been acquired by

has received an investment from

a subsidiary of

has been acquired by

has acquired has been acquired by

and

(NYSE:LUCK)

(Nasdaq:PZZA)

has been acquired by

has received an investment from

refranchises its majority stake in its joint venture with Blue and Silver Ventures, Ltd. to

has been acquired by

has been acquired by

has acquired has been acquired by

(NYSE: AZEK)

B'#'$.$)!-L.,-/)!"#,-G,$ \"4"0-(O##&% .)*)/&*/(8&4"5124 Z]E][(^I_$`DF^ a"##&%b/"*"%&%$5)7&1)#c520

\)5W(!)9)4"%" S&5"(;4"%&'"*1( Z]E][(^I_$`DEH a%)9)4"%"b/"*"%&%$5)7&1)#c520(

Q"9&*(K?&1*"S&5"(;4"%&'"*1( Z]E][(^I_$`DHH W@?&1*"-b/"*"%&%$5)7&1)#c520(

.)11?"@(.&#B,4* S&5"(;4"%&'"*1( Z]E][(^I_$`DHE 00&#B,4*b/"*"%&%$5)7&1)#c520(

DEFE)?'-G1,('')+"-H)7>)• Suite 700 • Atlanta, GA 30326 IIIJ3'#'$.$KG-L.,-/JG"& A'&M'()"N)567+8O);6?!

95

N474'3'$%*C+$BC&.3/4'$M-493O-40$&74G'(&B$/4O($*7/$4P23(K$H*B3(*'&-2(3&7'$M&C$-&Q4C$I3//-4GI*C+4($H&IB*734' J7.4'(I47($1(C*(4FK  =#3)*'#&'.#/%"',+--.%',2">%0'3#,72&+%*'/+01'20'.%2*0'?@A',+..+#&'#8'"%$%&)%'2&-:#"'?B',+..+#&'#8'CDEF95'  ;0")30)"%*'+&3.)-%'*%&+#"'*%3)"%-'-%(0G'*%3#&-'.+%&:*)(#"-+&20%-'-%(0'2&-'7"%8%""%-:3#,,#&'%H)+06'+&$%*0,%&0*  ;%%>+&4'0#'+&$%*0'?@A'0#'?IJ',+..+#&'+&'%231'+&$%*0,%&0'K0#02.'327+02.'3#,,+0,%&0L  D%'2'$2.)%M2--%-'72"0&%"'(6'.%$%"24+&4'#7%"20+#&2.'%N7%"+%&3%'2&-'*0"#&4'"%4+#&2.'&%0/#">*  O7%&'0#'+&$%*0+&4'23"#**'01%'PQ;QG'()0'02"4%0'#77#"0)&+0+%*'+&'01%';#)01%"&'PQ;QG'7"%-#,+&20%.6'F%N2*'2&-'01%'R).8'S#2*0'"%4+#&  P*%*'#8'327+02.T'4"#/01G'23H)+*+0+#&*G'-%(0'"%8+&2&3+&4G'"%327+02.+U20+#&G',2&24%,%&0'()6#)0G'82,+.6'0"2&*8%"

J7.4'(I47($1(C*(4FK

J7.4'(I47($1(C*(4FK

 !"#$%&'()*+&%**',#-%.'/+01'*%2*#&%-'2&-'3#,,+00%-' ,2&24%,%&0'0%2,  5(+.+06'0#',2+&02+&'7#*+0+$%'32*1'8.#/'01"#)41'$2"+#)*'()*+&%**' 363.%*

 CN7%"+%&3%-'.%2-%"*1+7'0%2,'/+01'%N0%&*+$%'&%0/#">'#8' "%4+#&2.'"%.20+#&*1+7*Q'@AAV'6%2"*'#8'3#,(+&%-'%N7%"+%&3%' +&$%*0+&4'+&'2&-'()+.-+&4'()*+&%**%*  W%.20+#&*1+7'#"+%&0%-Q'!%#7.%'2"%'+,7#"02&0

 9%8%&*+(.%'3#,7%0+0+$%'2-$2&024%'2&-:#"'-+88%"%&0+20%-' 7"#-)30'#"'*%"$+3%'#88%"+&4*

 =.%N+(.%G'3)*0#,+U%-'327+02.'*#.)0+#&*Q';0")30)"%*'2"%' -%*+4&%-'8#"'%231')&+H)%'*+0)20+#&

 ;#.+-'2&-'*)*02+&2(.%',2"4+&'*0")30)"%

 C88+3+%&0'2&-'0+,%.6'-%3+*+#&',2>+&4Q'X%'2"%'"%*7#&*+$%'2&-' %N%3)0%'+&'2'0+,%.6',2&&%"

 <+,+0%-'3)*0#,%"'3#&3%&0"20+#&

 O7%"20+#&2.'2&-'*0"20%4+3'%N7%"0+*%Q'!2"0&%"*'12$%'.%-' *)33%**8).'3#,72&+%*'2*'SCO*'#"'%N%3)0+$%'.%2-%"*'2&-' *%"$%'#&'&),%"#)*'(#2"-*

L3.4C'3M34/$J7/2'(C34'

D)*+&%**' ;%"$+3%*

E&-)*0"+2.' ;%"$+3%*

W%*+-%&0+2.' ;%"$+3%*

Z2.)%M5--%-' 9+*0"+()0+#&

Y2&)8230)"+&4

E&8#",20+#&' F%31&#.#46

J7.4'(I47($84*I R2C(3'$6*C(I*7

Y2&24+&4'!2"0&%" 3)"0+*Q12"0,2&[4%&%*+*M72">Q3#,

L*.3/$,3-F4C

Y2&24+&4'9+"%30#" -(+.4%"[4%&%*+*M72">Q3#,

%*2-$6&OOK

Y2&24+&4'!2"0&%" 71#((6[4%&%*+*M72">Q3#,

13I&7$6*3/*I&2'

Y2&24+&4'9+"%30#" *12+-2,#)*[4%&%*+*M72">Q3#,

N37*$S27*

Y2&24+&4'!2"0&%" 4+&2Q.)&2[4%&%*+*M72">Q3#,

%*K(&7$1HDC*II

Z+3%'!"%*+-%&0 7*31"2,,[4%&%*+*M72">Q3#,

T7/C4Q$U37(4C'

Z+3%'!"%*+-%&0 2/+&0%"*[4%&%*+*M72">Q3#,

!"#$%&'($)*+$,-./0$123(4$5!#0$6&2'(&70$849*'$::#":$;$:<=>?5@>?A!#$;$B*C(74C'D3B'EF474'3'GB*C+>H&I

96

Great Rock Capital Partners | Lender Profile General Information Description Founded in 2015, Great Rock Capital is an asset-focused commercial lender that supports middle market companies across North America by providing increased liquidity and growth capital. The firm offers senior secured financing solutions that include flexible revolver, term-heavy, and term-only structures, which range in size from $10 million to $100 million. The firm has received significant capital commitments from its partners, a private equity business, and a large institutional investor.

Website

www.greatrockcapital.com

Year Founded

2015

Entity Types

Senior Lender Private Company Lender/Debt Provider

Employees

30

Also Known As

Great Rock

Legal Name

Great Rock Capital Partners, LLC

Service Provider Type

Senior Lender

Contact Information Primary Contact

Primary Office

Jennifer Cronin

285 Riverside Avenue | Suite 350

Managing Director & Head of Marketing

Westport, CT 06880

cronin@greatrockcapital.com

United States

Phone: +1 (203) 557-6277

Phone: +1 (203) 557-6277

Preferences Transaction Amount $10.00M - $100.00M Preferred Industries Aerospace and Defense, Agriculture, Automotive, Construction and Building Products, Consumer Durables, Consumer NonDurables, Containers and Packaging, Healthcare, Industrial Supplies and Parts, Machinery and Equipment, Metals, Minerals and Mining, Technology, and Transportation Geographical Preferences North America – Canada and the United States Preferred Deal Types Acquisition Financing, Debt - General, Debt Refinancing, Dividend Recapitalization, Bank Replacement Financings, Merger/Acquisition, Refinancings and Recapitalization, Senior Debt, Secured Preferred Verticals Advanced Manufacturing, Consumer, Industrials, Infrastructure, Manufacturing, Transportation

1

97

Growth Operators | Management Consultants Profile General Information Description Over a decade ago, Growth Operators® built a new kind of advisory firm. We believed too many middle market companies lacked the finance, accounting, and human resources capabilities to promote growth and scalability. Having spent our careers in industry as leaders who built these functions for great companies, we decided to leave our industry careers and create a firm that is 100% focused on helping middle market companies build great finance, accounting, and human resources functions. Why? Because we believe you can build a good company without strong finance and HR capabilities, but you can’t build a great one. And why build something good when you can build something great?

Growth Operators is a private equity-focused finance, accounting and HR consulting and advisory firm based in Minneapolis, Minnesota. We cater to PE-sponsored companies in the middle market - where finance, accounting and HR are chronically under-resourced and not adding value. Our professionals (“Growth Pros”) have deep hands-on leadership and management experience spanning over two dozen industries. We serve our clients as interim or fractional finance, accounting, and HR executives and/or managers, or as consultants and advisors on specific projects and initiatives. We are industry agnostic, but we have deep experience in Health Care & Life Sciences, Manufacturing & Industrial, Value-Added Distribution, Business Services, Retail, Restaurant & Consumer, Food & Beverage, Technology/Media/Telecommunications, and Software.

Our operational acumen, proprietary nextLevel® value creation planning process, and hands-on, roll-up-our-sleeves approach creates measurable and sustainable value for our clients. At Growth Operators, we turn good companies into great companies.

Website

www.growthoperators.com

Year Founded

2010

Entity Type

Management Consultants

Employees

65

Formerly Known As

GO Intellectual Capital

Service Breakdown

Serviced Investors: 7

Legal Name

Growth Operators, LLC

Service Provider Type

Management Consultants

Contact Information Primary Contacts

Primary Office

Rick Nordvold

Ron Hornbaker

Founder & CEO

Chief Revenue Officer

rick.nordvold@growthoperators.com

ron.hornbaker@growthoperators.com

Phone: +1 (952) 400.1442

Phone: +1 (612) 615.2908

800 LaSalle Avenue Suite 1620 Minneapolis, MN 55402 Phone: +1 (952) 400-1440 info@growthoperators.com

Preferences Preferred Industries

Geographical Preference

Preferred Verticals

Industry Agnostic

North America

Industry and Vertical Agnostic

1

98

Realizing Promise in Small Companies.

Since 1984 we have realized the promise and potential of modern industrial and business services companies. We form partnerships with management teams and are not day-to-day operators. We create a culture of collaboration and broaden equity participation. Our approach is growth-oriented, straightforward and even-keeled. We believe in perseverance, ingenuity, transparency and results.

Partners in “Modern Industrial” and B2B Services Technical B2B Services

Automation Solutions and Services Regulatory and Compliance Driven Solutions Technical, Testing and Measurement Equipment

Industrial Technology & IIOT Solutions

Engineered Components and Instrumentation Aftermarket Parts and Services

Value-Added Distribution

Process Equipment and Engineered Systems Environmental and Infrastructure Services Control Systems Integration

Specialty Niche Manufacturing

Tech-Enabled Services

Investment Criteria

Transaction Types

(Control Only)

Revenue: $15 - $200 million

Ownership Transition of Family Business

EBITDA: $3 - $20 million

Management Buyout / Majority Recap

Equity Checks: $10 - $60 million

Corporate Divestiture

Headquartered in U.S. or Canada

ESOP Replacement

Business Development Contacts

Stephen Connor sbc@hrco.com 203-602-3309

Stuart Oakford svo@hrco.com 203-658-8264

Carrie DiLauro cld@hrco.com 203-658-8252

HRCO.com | 301 Tresser Boulevard, Suite 1333 Stamford, CT 06901

99

MMMNO=>CECP<=QI@HEAHNCEL

!"#$%&'!()#)*&!+,-.#/. !"#$%$&' ()*+,%-,' +,' "#' (./"#."01",2)' +#*2,.32#.' 1"#&+#4' 5+-3' .6".' 7-%*+)2,' ,.-".24+$' ")*+,%-8 ,2-*+$2,'.%',3"//'"#)'3+)0,+92)'1:,+#2,,2,;'<:-'.2"3'%5'2=72-+2#$2)'1"#&2-,'",,+,.,'1:,+#2,,'%>#2-,' +#' 2*"/:".+#4?' #"*+4".+#4' "#)' ,:$$2,,5://8' 2=2$:.+#4' "' >+)2' -"#42' %5' ,.-".24+$' .-"#,"$.+%#,;' @2' >%-&' >+.6'$/+2#.,'5-%3'2"-/80,."42'$%37"#+2,'.%'.6%,2'>+.6'%*2-'ABC'3+//+%#'DEFGH(?'>+.6'.87+$"/'2#.2-7-+,2' *"/:2,'12.>22#'AI'3+//+%#'"#)'ABCC'3+//+%#;

0'#&01&.1/,1 2#)!%-#(

JK01",2) 1:,+#2,,2, >+.6' K%:.62",.'-24+%#'5%$:,;

.-31

-(+$.%/4&1561/-1()1

ABC0BCCL'+#'-2*2#:2,

6/#7-%!"-2-%4 AB0BCL'DEFGH(

E:,+#2,, K2-*+$2,' H+,.-+1:.+%#' M%4+,.+$,' L"#:5"$.:-+#4 N2,+)2#.+"/O!%32'K2-*+$2,

81/91/&:&!);$-.-%-#(&.1/,-)1. .122<.-+1

L"P%-+.8 ,"/2 %-' -2$"7+."/+9".+%# L"#"4232#.'1:8%:., Q-%>.6 2R:+.8 +#*2,.32#.,' H:2')+/+42#$2'$%#,:/.+#4 SLF TS%#5+)2#.+"/ +#5%-3".+%#' 323%-"#):3U

"$4<.-+1

F)2#.+58+#4 "$R:+,+.+%#' ."-42., N:##+#4 1:8,+)2 ,2"-$62,' V')+/+42#$2'$%#,:/.+#4 ($R:+,+.+%# 5+#"#$+"/' 3%)2/+#4 F#*2,.%-'7+.$6')2$&, (,,+,. ,2$:-+#4 "$R:+,+.+%#' 5+#"#$+#4

.%/!%19-) 62!((-(9& :&)#(.$2%-(9 K.-".24+$'7/"##+#4 W+#"#$+"/ 3%)2/+#4' D=+.'7/"##+#4 K:$$2,,+%#'7/"##+#4

%/!(.!)%-#(&!+,-.#/4&.1/,-)1.

7-(!()-!2 +$1& +-2-91()1

X:"/+.8 %5 2"-#+#4, TX%DU' @%-&+#4'$"7+."/'"#"/8,+, X:"/+.8'%5'",,2., H21.'"#)')21.0/+&2'"#"/8,+,

8!/4 /#"1/%.

8=>=?@>?&+@ABCDEA LN%12-.,\!"#$%$&0()*+,%-,;$%3 ]'T^^CU'_Y`0C^Za

100

"$.-(1.. ,!2$!%-#( D,.".2 V 4+5. ."= 7/"##+#4' YCZ"'*"/:".+%#, D=+.'7/"##+#4 [:-$6",2 7-+$2 "//%$".+%#' Q%%)>+//'+37"+-32#.,

F#'( 9#/+#(

2-%-9!%-#( .$66#/%

[%,.0"$R:+,+.+%# )+,7:.2,' H+,,2#.+#4',6"-26%/)2-, [2-,%#"/ )+*%-$2O5"3+/8 /">' L+,"77-%7-+".+%#'%5'",,2., W+#"#$+"/',.".232#.'5-":) E:,+#2,,'+#.2--:7.+%#

+@ABCDEA&— "GH@>BHH&+BIBJEKLB>D bQ%-)%#\!"#$%$&0()*+,%-,;$%3 ]'T^^CU'IZ^0ZZCI

We Connect Innovation To Growth Operating at the intersection of investment banking and consulting, we partner with inspiring companies, entrepreneurs, and private equity firms to help them design and execute their strategies for growth or exit. With years of experience as investment bankers and management consultants, we help growing teams improve their opportunities for success.

WHAT WE DO

SELL-SIDE ADVISORY

BUY-SIDE ADVISORY

Whether it s improving existing operations, creating liquidity for owners or growing through acquisition, it helps to work with someone who knows your industry and has done it all before and many times over.

M&A for Founder owned Businesses

Buy side for Private Equity

VERTICAL EXPERTISE

B2B Technology & Services Human Capital Management Solutions Sales & Marketing Solutions Outsourced Professional Services Staffing & Recruiting IT Services Vertical SaaS

Financial Services & Technology Wealth Management/ Wealth Tech Insurance/Insurtech Retirement Plan Services MortgageTech & Services Specialty Finance Asset Management

Industrials Environmental Solutions Facility & Site Services Manufacturing & Distribution Tech Enabled Solutions Testing, Inspection & Certification Utilities & Telecommunications

OUR PRACTICE LEADS Sell side Advisory

Carolyn Mathis, Partner cmathis@hvadvisors.com

Buy side Advisory

John Mathis, Partner jmathis@hvadvisors.com

B2B Tech & Services

Margaret McCormick, Director mmccormick@hvadvisors.com Jonathan Hollis, Director jhollis@hvadvisors.com

Industrials

Nate Shepherd, Partner nshepherd@hvadvisors.com

Financial Services & Technology Doug Moffitt, Managing Director dmoffitt@hvadvisors.com

101

Harris Williams | Investment Bank Profile General Information Description Founded in 1991, Harris Williams is an investment banking firm headquartered in Richmond, Virginia. The firm advises in the areas of acquisition advisory, restructuring, board advisory, private placements, and capital markets among others. Harris Williams caters to an array of industries including aerospace, defense, government services, building products, materials, beauty, business services, consumer, energy, infrastructure, healthcare, life sciences, industrials, technology, media, telecommunications, transportation, and logistics.

Website

www.harriswilliams.com

Entity Types

Investment Bank Private Company Investor

Service Provider Types

Investment Bank (Primary Type) Business Intermediary Financing Advisory Other Service Provider Type

Contact Information Primary Contact

Primary Office

Julia Moore

1001 Haxall Point

Senior Marketing Specialist

9th Floor

jmoore@harriswilliams.com

Richmond, VA 23219

Phone: +1 (804) 648-0072

United States Phone: +1 (804) 648-0072

Preferences

102

Preferred Industries

Geographical Preferences

Preferred Deal Types

Preferred Verticals

Aerospace and Defense, Building Products, Commercial Transportation, Distributors/Wholesale, Distributors/Wholesale (B2C), Energy, Government, Healthcare, Industrial Supplies and Parts, Logistics, Materials and Resources, Media, Specialty Retail, Telecommunications Service Providers, Transportation

Americas, Asia, Canada, Europe, United States

Acquisition Financing, Add-on, Buyout/LBO, Merger/Acquisition, PIPE, Recapitalization

Beauty, Big Data, CleanTech, Climate Tech, CloudTech & DevOps, Construction Technology, Cybersecurity, Digital Health, E-Commerce, EdTech, FinTech, FoodTech, HealthTech, HR Tech, Industrials, Infrastructure, InsurTech, Internet of Things, Legal Tech, Life Sciences, Manufacturing, Marketing Tech, Mobility Tech, Nanotechnology, Oil & Gas, Oncology, Real Estate Technology, Restaurant Technology, Robotics and Drones, SaaS, Space Technology, Supply Chain Tech, TMT, Virtual Reality

LEADING BUYSIDE A DV I S O R S S I N C E 1990

Buy-side Focus – Since 1990, the principals at Harvey & Company have specialized solely in executing proactive acquisition search campaigns and generating strategic and non-auction/proprietary deal flow for private equity funds and acquisitive corporations. The firm assists its clients in acquiring founder-and family-owned businesses in privately-negotiated transactions.

Track Record – ��� ���� ������������� �� ������ � ������� ���� ��������� ����� �������� ������������� virtually all of which were non-auction transactions, including 161 proprietary deals in 2023.

Experienced Team – ��� ��������� �� ������ ���� ������������� ������� ��� ����� ���� �� �������� ����������� ��� ���� ��� ���� ����������� ������ ��������� �� ���� ������������� �� ������ ���� �� ����� �� ������� on acquisition searches within industrial, business, and financial services; manufacturing; healthcare; distribution; consumer; technology; education and energy. Harvey & Company has the experience to help clients think strategically and creatively to identify and qualify acquisitions with new products, services, and markets/channels of distribution to generate actionable, value-creating deals.

Client Centric Approach – Harvey & Company seeks long-term relationships with its clients, although ���� �� ��������� �� � �������������� ������ ������������ ���� ���� ������ ���� ��� ������������� ��������� � �� ���� ����� ���� �� �� ����� ������������� ��� ���� ��� ������ �������� ����� ���� ��� �� ����� ��� �� ������������ ���� �� �� ����� ������

Resources – ��� ������� �� ��� ����� �� ����������� ������ ���������� ��� �������� �� �������� �������� ���� ���� ������������ �� � ����������� �������� �� ���� ������� ������ ���������� ��� ���� �������������� ���� �� ��� house and overseas research staff, enable us to start generating deal flow within weeks of engagement.

H A RV E Y & C O M PA N Y AT A G LA N C E:

1,022

1998

242

42�

161

Buy-side Transactions

Year Established

PE Funds With Whom We’ve Closed Deals

Corporate Buyers With Whom We’ve Closed Deals

Deals Closed in 2023

The Non-Auction Deal Flow Specialists

1

Confidential / Company Proprietary

103

!"#$%&' )*"+,-.-%/' 0*11#"%' &23456778 1345924: ;: 3 <;88=2 <34>25 ?4;@352 2AB;5C D;4< 5E35 :24@2:( 3: 3 :5479F(398 42=;3G=2(H3?;53= ?345924 57(76924: 398(<393F24:' $2 ;952456;92 :54352F;H 398 D;939H;3= 2I?245;:2 57 84;@2 F4765E(398( @3=B2 H4235;79 ;9 7B4 ;9@2:5<295 GB:;92::2:'

TcX[ b#*R)N)

[X

JKL

-RMN0%UNR% 1"#bN00-#R+.0

+MN"+!N NO*-%/ P+1-%+.-Q+%-#R

SUPPORTING GROWTH, CREATING VALUE !"#$!%&'#('%)&%$!#*+,&-./%)01%2*&344).35'&*.&6!44.)*&()./*' d P3?;53=;e2(7B4(GB:;92::2:(6;5E fWYL(] fJKL(2AB;5C d(*:2(:;9F=2(7B5:;82(:29;74(82G5(H=3::(6;5E(=79F(3<745;e35;79V(D=2I;G=2(H7@29395:V(398(=76(;95242:5(4352:( g(147@;82:(<393F2<295(6;5E(5E2(D=2I;G;=;5C(57(?B4:B2(3HAB;:;5;79:(398(2I?398(H3?;53=(;<?47@2<295 .77%)#"(&5!))%"*&#"5.8%&#"&311#*#."&*.&-."(0*%)8&%$!#*+&(3#"6 d OB34524=C(H3:E(8;:54;GB5;79(57(3==(2AB;5C(76924:V(;9H=B8;9F(GB:;92::(76924:(398(<393F2<295(523<: g 147@;82:(HB44295(425B49(79(2AB;5C(;9@2:5<295(57(H7<?=2<295(7??745B9;5C(57(?345;H;?352(;9(DB5B42(2AB;5C(F3;9: (%"!#"%&43)*"%)6'#4&/#*'&3-#("%1&#"5%"*#9%6&/#*'&7.!"1%)6&3"1&2!6#"%66&./"%)6 d -9@2:5(79(5E2(:3<2(524<:(3:(GB:;92::(76924:(398(<393F24:( d +BF<295(8;42H5(<393F2<295(76924:E;?(6;5E(2AB;5C(;9H295;@2: g(+=;F9:(;9H295;@2:(3<79F(3==(2AB;5C(E7=824:(398(<393F2<295V(398(?47@;82:(<393F2<295(7??745B9;5C(57(?345;H;?352(((( DB45E24(;9(HB44295(;9H7<2(398(H3?;53=(3??42H;35;79 -."(0*%)8&#"9%6*8%"*&'.)#:."&*.&35'%#9%&()./*'&(.3-6 d PB44295(H3:E(C;2=8(:B??745:(=79F24]524<(;9@2:5<295(3??473HE( d %34F25(;9@2:5<295(?24;78(7D(D;@2(57(529(C234: g(+==76:(76924:E;?(398(<393F2<295(57(D7HB:(79(<3>;9F(:54352F;H(82H;:;79:(5E35(G292D;5(5E2(H7<?39C(D74(5E2(=79F( 524< #"9%6*8%"*&6*)3*%(+&3"1&5)#*%)#3 %C?;H3==C(H79547=(2AB;5C(;9@2:5<295:(;9(?4;@352(*'0'(H7<?39;2:(5E35(D;5(5E2(D7==76;9F(H4;524;3_ • 1345;HB=34(3423: 7D(;95242:5(;9H=B82_ +D524<34>25(+B57h%4BH>(1345:V(+F4;HB=5B42hb778V(P79:B<24V();:54;GB5;79V( N9@;479<2953=h-98B:54;3=(024@;H2:V(R;HE2(U39BD3H5B4;9FV(13H>3F;9F(i(0?2H;3=5C(PE2<;H3=:hU3524;3=: • "2@29B2:(G256229(j[K(<;==;79(398(j[YK(<;==;79 • N,-%)+(G256229(jY(<;==;79(398(jSK(<;==;79 • P7<?25;5;@2(?7:;5;79(6;5E(3G;=;5C(57(<3;953;9(<34F;9:( • 07=;8V(H7<<;5528(<393F2<295(523<( • )2<79:543528(3G;=;5C(57(?478BH2(2IH2::(H3:E(D=76 • U393F23G=2(HB:57<24(H79H295435;79 • 0(P74?7435;79:V(..Pk:V(?345924:E;?:(74(8;@;:;79:(7D(=34F24(H7<?39;2:(342(?42D24428 3110."&5.)4.)3*%&35$!#6#*#."&4'#-.6.4'+ • P7==3G74352(6;5E(<393F2<295 • +88(<34>25(:E342V(388(?478BH5(=;92V(8;@24:;DC(HB:57<24:(398h74(2I?398(F27F43?E;H3==C( • #?2435;9F(?47D;5:(7D(jYKKl(7D(E;FE24 1=23:2 H7953H5 ^7E9 $;==245 ^7E9 R26<39 6;5E GB:;92:: 82@2=7?<295 7??745B9;5;2: 74 ;9AB;42:_

&23456778 1345924:

^7E9($;==245 `6;==245aE23456778?345924:'H7<

SKT(U244;55(J R7463=>V P% KWXYT

104

^7E9(R26<39 `926<39aE23456778?345924:'H7<

Z[KS\ W[Y]KJJK 666'E23456778?345924:'H7<

Heritage Capital G r oup is an investment banking and financial advisory firm serving middle market and emerging growth companies in the US and worldwide. For 48 years, Heritage Capital Group has provided objective advice to private companies in the areas of mergers, acquisitions and divestitures, business valuations, debt and equity capital raises, corporate restructurings, and financial and strategic advisory services focused on enhancing the value of business enterprises. Heritage Capital G r oup is a FINRA registered broker dealer. Heritage Capital G r oup is a member of Oaklins, the world s most experienced mid market M&A advisor, with 850+ professionals globally and dedicated industry teams in 45 countries worldwide.

Sign Up to Receive Monthly Deal Updates

RECENT TRANSACTIONS

EXPERIENCE. EXPERTISE. RESULTS. 5210 Belfort Road, Suite 300, Jacksonville, FL 32256 | 904 354 9600 | www.HeritageCapitalGroup.com

105

!"#$%&#'(")$#"*'"&+'(,**"-,."#$/%'0%1,2.3%1' 4&/%1#%+'$&'!".#&%.15$)'6$#5'7"&"8%9%&# A82),(,%+)%:5$40%B(*+37-(%&*8<3>%C7*3)(*D%+D%7%E*+/73(0%F7@+'G%+)/(D3@()3%8FF+?(%F8?2D(,%8)% @7H+)-%)8)I?8)3*8'%(J2+3G%+)/(D3@()3D%+)%E7*3)(*D>+E%<+3>%8<)(*I@7)7-(*D%7),%<8*H+)-% ?8''7K8*73+/('G%<+3>%@7)7-(@()3%38%7??('(*73(%-*8<3>%7),%?*(73(%'8)-I3(*@%/7'2(

!"#$%#&'()*#$+',,#&#-.#

/)&(-#&0"'1$2&'(#&')

56)*(7 8#9+/&)+#& :;;*1+

<0/*#+// %46'61&+'*/&*1/

▪ E(/"&+$#)+,"(+$)(0$4*"7,>*"$4)<,*@$2)#,+)* ▪ F5&+'<,G"0$&'*5+,'(&$8,+-$('$&"+$ ,(/"&+<"(+$#"%,'0$$

▪ H'25&$'($*'(1;+"%<$/)*5"$2%")+,'( !"#$%"#&'"(

▪ 67+%)'%0,()%@$I)()1"<"(+

▪ A+%'(1$F'%#'%)+"$F5*+5%"$)(0$H'25&$'($J)*5"&$ ▪ F'(+,(5,(1$K8("%;I)()1"%$6(1)1"<"(+ ▪ L")0B5)%+"%"0$,($+-"$A'5+-$M$A'5+-")&+

=/+/ "; %6>*&6(

▪ :%5"$#)%+("%&-,#&$8,+-$'8("%;<)()1"%&$ 8-'$%"+),($2'(+%'*

▪ .%'/,0"$.)%+,)*$N,B5,0,+@$+'$O2+,/"$A-)%"-'*0"%&

▪ ="*)+,'(&-,#&$>5,*+$'($&-)%"0$/)*5"&

▪ ="+,%"$67,+,(1$A-)%"-'*0"%&

▪ ?'%9$2'**)>'%)+,/"*@$8,+-$<)()1"<"(+

▪ A5##'%+$K%1)(,2$P%'8+-$A+%)+"1,"& ▪ H5(0$)(0$67"25+"$O2B5,&,+,'(&

2'"3&4 5"10/ ▪ A+%)+"1,"&$4'%$'%1)(,2$1%'8+▪ 67#"%+,&"$,($)2B5,&,+,'($1%'8+-$ ▪ .)%+("%$2'<#)(,"&$)/"%)1"$C7$%"/"(5"$ )(0$D7$#%'4,+$,(2%")&"$ %"))*&&+, .+/"0'1+/ ▪ !""#$#"%&'()*$%"*)+,'(&-,#&

▪ .)@$!'8($!">+$+'$E(2%")&"$H*"7,>,*,+@ <0/*#+// ?*@+ ▪ .*)+4'%< .)%+("%&-,#&$8,+-$ST$; SUTI$,($O((5)*$ F)&-$H*'8$M 6RE:!O ▪ O00;'($O2B5,&,+,'(&$8,+- SUIV ,( O((5)*$F)&-$ H*'8$M 6RE:!O 5"10/ 8#,0/&'*+/

▪ .%'/,0"$'(1',(1$&+%)+"1,23$4,()(2,)*$)(0$ '#"%)+,'()*$&5##'%+

▪ I)(54)2+5%,(1$Q$!,&+%,>5+,'(

▪ 67+"(&,/"$("+8'%9$'4$"7#"%+,&"$$

▪ A#"2,)*+@$R5&,("&&$Q$E(05&+%,)*$A"%/,2"&

!"#$%&'()*+,-(%.*+/(0%12+3(%4!5% 63'7)370%&(8*-+7%959:"%%;%%<<<=>(*+37-(-*8<3>=?8@

106

107

Elevating Businesses in Partnership with Management Overview Highland Rim Capital is a private equity firm focused on partnering with proven management teams within established O'</&$<<$<!ELG('DL('E!EL$!P&/E$;!>EAE$<8!!Q'G!/&%$<E.$&E!.(;$0R!KL/BL!EAGD$E<!EL$!0(K$G!./;;0$!.AGS$ER!<'HH(GE<!A&;!

A<</<E<!.A&AD$.$&E!K/EL!DG(KEL!/&/E/AE/%$<!A&;!<EGAE$D/B!A&;!(H$GAE/(&A0!/.HG(%$.$&E<8!T$!O$0/$%$!('G!E$A.U<!$.HLA</<! (&!.A/&EA/&/&D!EL$!0$DAB=!A&;!B'0E'G$!()!EL$!O'</&$<<$<!/&!KL/BL!K$!/&%$<E!.AS$<!'<!A&!AEEGABE/%$!HAGE&$G!)(G!O(EL!O'</&$<<!

(K&$G<!A&;!.A&AD$.$&E8!!V/DL0A&;!#/.!FAH/EA0U<!HG/&B/HA0<!LA%$!K(GS$;!A&;!/&%$<E$;!E(D$EL$G!</&B$!7,,W!A&;!B(00$BE/%$0=! $X$B'E$;!(G!.A&AD$;!YZ!H0AE)(G.!AB['/</E/(&<8

Investing Approach 1X/<E/&D!.A&AD$.$&E!.A/&EA/&<!(H$GAE/(&A0!A'E(&(.=!A&;!/<!A&!$['/E=!(K&$G!A0(&D</;$!V/DL0A&;!#/.!/&!A00!EGA&<ABE/(&<8!Q'G! G(0$!A<!/&%$<E(G<!/<!E(!O$!<'HH(GE/%$R!&(E!;/<G'HE/%$8!V/DL0A&;!#/.!HG(%/;$<!<EGAE$D/B!D'/;A&B$!/&!AG$A<!()!DG(KELR!L'.A&!BAH/EA0R! information technology, operations management and governance. Our investment structure offers owners flexibility to exit financially and operationally or to maintain some level of involvement post transaction.

Investment Parameters !"#$%&'()%)&*+*%"',*)+-!"!!V/DL0A&;!#/.!HAGE&$G<!K/EL!/&E$G&A0!.A&AD$G<!KL(!LA%$!A!L/<E(G=!()!;G/%/&D!<'BB$<<!/&!EL$!

O'</&$<<$<!EL$=!(H$GAE$!A&;!KL(!;$</G$!HAGE/B/HAE/(&!/&!B(.HA&=!(K&$G<L/H8!!!

History of Profitability!"!!We target businesses with strong cash flow dynamics while avoiding distressed situations and early <EAD$!%$&E'G$<8!

Targeted Company Size "! # ! $%$&'$!()!! *+,!-!+,,!./00/(& ! "! 1 ! 23456!()!! *789:!*+,!./00/(&! ! "! 6;;:(&<!()!6&=!>/?$

Preferred Transactions ! "! @A./0=!>'BB$<</(&

Geography

Industries

! "! !JAE/(&A0!K/EL!@(B'<!(&!

! "! M/DLE!CA&')ABE'G/&D

>('EL!A&;!C/;K$<E

! "! NA0'$:A;;!5/<EG/O'E/(& ! "! 2'</&$<<!>$G%/B$<

! "! CA&AD$.$&E!2'=('E< ! "! F(GH(GAE$!5/%$<E/E'G$< ! "! !CAI(G/E=!F(&EG(0! #$BAH/EA0/?AE/(&< ! "! @('&;$G!4GA&</E/(&<

!"#$%&'()*$+

,-#.&/%--0%

,-11&2-+3

PARTNER

PARTNER

PARTNER

MANAGING DIRECTOR

!"#$%&'()&")*+'$,&-!+./!#-

-&0++!0()&")*+'$,&-!+./!#-

-*+'1()&")*+'$,&-!+./!#-

*02+'*13()&")*+'$,&-!+./!#-

456768976:::

108

%%%/)&")*+'$,&-!+./!#-

2-4-#&51-+637

109

Incline Equity Partners is the driving force in middle market private equity. A firm that proves you can !"#$%&'"()*"'$(+,-%".&!$(&/+/&,-%0$($'"&$%)&'1(0%'$).2&)3%"(4%!"#$%5.(%41/(0%/&6% 7$%"'$%8.)/($))%914$2%)*$+/"2/)&)%"(4%$(4%9"':$&%"0(1)&/+6%;!/)%)&'"&$0,%"221<)%.)%&1%'$+10(/=$% *"&&$'()%"(4%*'1+$))$)%&!"&%9":$%"%8.)/($))%914$2%).++$))5.2-%'$0"'42$))%15%$(4%9"':$&6

!"#$%&'$"&()*+&$*+, >1+"&/1()% !"#$%&$'()(*(

!"#$%&##'#&()*+#, ">&@3B>9

E(C5>7#**>*$ ?39<&3F5<3%)

?$($'"22,%@$$:/(0%A(&$'*'/)$%B"2.$) +,-..$/$+0-1..

2%$.3)3454$6%&$#**78)9

"=>B3(C3D>*$G3HI<$ .()56(B<5&3)H

;'"()"+&/1(%;,*$)% :5;%5<9 '%&=%&(<>$?3@>9<3<5&>9 .3)%&3<;$A>B(=3<(C3D(<3%)9 ! "#$%#&#'()(*+#,$-%(.-/*-

/$(0"-1(,(2--3(&4+"2 14$"(1$(%$$(+&5(

)-"&,.&%

7$%!"#$%8$$(%$U$+.&/(0%&!$%)"9$%)&'"&$0,%51'%1#$'% &<1%4$+"4$)6%7$%:(1<%$U"+&2,%<!"&%<$%"'$%211:/(0% 51'3%"(4%<!$(%<$%)$$%/& -%<$%91#$%M./+:2,6%

CDE6FDG6HIDJ%%K%%)"'"!6!"2#1(/:L/(+2/($$M./&,6+19

7/&!%1.'%V.)/($))%W$#$21*9$(&%&$"9%,1.%!"#$%"% )/(02$%"++$))%*1/(&%51'%"22%/(#$)&9$(&%1**1'&.(/&/$)% "(4%1.'%$(&/'$%*1'&512/16%X"#$%"%4$"2%1'%<"(&%&1% )!"'$%"(%/4$"Y%Z$"+!%1.&%&1%"%9$98$'%15%1.'% V.)/($))%W$#$21*9$(&%;$"96

EDE6IIH6DEGG%%K%%9"'0"'$&60'"!"9L/(+2/($$M./&,6+19

#-.-/'0-123456 0)')1*'1,2*%#3(-%4,56&*'#&&,2#+#/-$7#'(,

7-.8-.9:';.-/-< 8%*'3*$)/4,56&*'#&&,2#+#/-$7#'(,

=4>.95'73.54?@3A83AB/9CC 9*3#,8%#&*:#'( 4,56&*'#&&,2#+#/-$7#'(, EDE6IIH6DEGC%%K%%"(4'$/691'/(L/(+2/($$M./&,6+19

D-4-'E5:F89.-1> ;#'*-%,<&&-3*)(#4,56&*'#&&,2#+#/-$7#'(, CDE6IDG6CEIF%%K%%dana.fitzgerald@inclineequity.com

7311G'091159. <&&-3*)(#4,56&*'#&&,2#+#/-$7#'(,

P.'%1(2,%<",%/) JI>$K)BC3)>$L(;$M ;T

QCDER FDGSHIJJ%K%/(51L/(+2/($$M./&,6+19%K%/(+2/($$M./&,6+19

110

NJH6FEJ6OIFO%%K%%9122,6!$22/$'L/(+2/($$M./&,6+19

www.industrypro.com Atlanta, GA | Phoenix, AZ | San Francisco, CA

$2.5B

TRANSACTION VALUE CLOSED

22

DEALS CLOSED IN PAST 12 MONTHS

IndustryPro at a Glance For over thirty years, we have built long-standing relationships with private equity firms and strategic buyers, providing them with high-quality investment and acquisition opportunities that meet their unique investment criteria. We take a highly targeted meet approach to sourcing investment opportunities that align with the specific investment mandate of our private equity partners.

Our extensive network and unique deal-sourcing processes enable us to uncover off-market opportunities that are not widely advertised, giving our clients a competitive advantage in the market.

30+

YEARS IN OPERATION

15+

INDUSTRY SPECIALIZATIONS

Steve Gurney Marketing Tech, Software sgurney@industrypro.com

Home Services, Fire dstaffieri@industrypro.com

Payton Anderson Healthcare Services panderson@industrypro.com

Maximizing Private Equity Success IndustryPro’s extensive network and deep industry knowledge enables us to uncover off-market deals that are not widely advertised, giving our clients a competitive edge in the market:

Zach Capra Targeted Deal Flow

Personalized Support

Logistics, Pool Services zcapra@industrypro.com

Cory Dowless Off-Market Opportunities

Consumer & Manufacturing Services cdowless@industrypro.com

Brian Ford

Key Industries

Exterior Home Services bford@industrypro.com

Dave Jorgensen Professional Services

djorgensen@industrypro.com jorgensen@industrypro.com

Stay in Touch Use the QR code to sign-up for our email lists and request Use the QR code to sign-up for our email lists and request to be on our deal flow, view current deal inventory, request buy-side retainer informatioin, and more.

Consumer & Industrial Manufacturing

deals@industrypro.com 8681 Hwy 92, Suite 400, Woodstock, GA 30189

111

Who We Are

Why Partner with KPC?

Kensington Park Capital (KPC) is a boutique investment bank specializing in middle-market mergers, acquisitions, and sale-of-company engagements. Our senior bankers have over 90 years of combined experience in investment research and middle market M&A. We have closed over 300 recapitalizations and company sales across virtually all industry sectors.

Experience: Over 36 years of building solid relationships with hundreds of strategic and private equity buyers.

Breadth: Sold or recapitalized hundreds of companies. across all industries using a wide variety of deal structures.

Reputation: The hundreds of buyers and sellers in our history will testify to our transparency, honesty and integrity.

Transaction Profile • Sell side M&A, recapitalizations and buyouts • Focus on founder and owner operated private companies • Significant experience in all industry sectors • Only represent institutional-quality companies • Non-Tech acquisitions: EBITDA between $5M and $50M • Tech acquisitions: annual recurring revenue > $5M • Growth based equity capital raises greater than $10M • Growth based debt capital raises greater than $20M

Results: One of the highest conversion rates— ratio of closings to engagements—in the investment banking industry.

Banker Recognition • Global M&A Network Atlas Awards- 2023 Deal of the Year • Americas Top 50 Investment Bankers 2023 by Global M&A Network • Global Finance World’s Best Investment Bank

Selected Transactions

• Ernst & Young Finalist Entrepreneur of the Year • Nashville’s Entrepreneur of the Year • Tennessee Governor’s Award for Trade Excellence

Senior Leadership • John McDonald

, Co-Founder, Tampa

jmcdonald@kensingtonpark.com • Berry Cox , Co-Founder, New York bcox@kensingtonpark.com • Mark Cleveland

, Managing Director, Nashville

mcleveland@kensingtonpark.com • Brad Farris , Managing Director, Orlando bfarris@kensingtonpark.com • Barry Shevlin

, Managing Director, Miami

barry@shevlinatkins.com • Arnaud Viviers

, Managing Director, Atlanta

aviviers@kensingtonpark.com

Contact Us

(727) 742-5817

www.kensingtonpark.com

!"#$%&'" )*+,%*- .*'*/"0"'%1 23 455(6&7%8(9*:;"7(<7,="1(>?,%"(@45A )8,:*/&1(B--,'&,$(CACAC

b,/8-,/8%$

`,70 ^="7=,"a !"#$%&'"( )*+,%*- ,$( *( )8,:*/&N_*$"M +7,=*%" ,'="$%0"'% D,70 D&?'M"M ,' 4XX@ a,%8 %8" /&*-( &D( *:P?,7,'/ 8,/8 P?*-,%#1 0*7;"%N-"*M,'/ _?$,'"$$"$ ,' :-&$" +*7%'"7$8,+ a,%8 0*'*/"0"'% B'="$%0"'%(*'M(+*7%'"7$8,+(*++7&*:8( ,'D-?"':"M(_#(8"7,%*/"(*$("'%7"+7"'"?7,*-( &+"7*%&7$(,'="$%,'/(+"7$&'*-(:*+,%*b,/8-#(D&:?$"M(&'(*:P?,$,%,&' N-"M(/7&a%8( $%7*%"/,"$(

KA

f"*7(%7*:;(7":&7M(,'(-&a"7( 0,MM-"(0*7;"%

@L

3-*%D&70$(_?,-%(,'(+*7%'"7$8,+( a,%8(0*'*/"0"'%

Q

f"*7(*="7*/"(,'="$%0"'%(8&-M( +"7,&M

4YAO

c":"'%-#(7*,$"M(JCKA.(!"#$%&'"()*+,%*-(`?'M( BBB1(23(Vd`?'M(BBBeW

G&%*-(8,$%&7,:*-(*:P?,$,%,&'$

J4\A_'O G&%*-()&00,%%"M()*+,%*-

`,70(+7,':,+*-$(7"+7"$"'%(-*7/"$%(,'="$%&7(,'( `?'M(BBB <,DD"7"'%,*%,'/ H%%7,_?%"$

B'="$%0"'% )7,%"7,*

`-"g,_-" B'="$%0"'% b&7,Z&'I( 2&'/N%"70 D?'M

3-*%D&70 EFBG<HI(JK.(%&(JLA.

$%7?:%?7"

HMMN&'(EFBG<HI(J4.O

c"-,*_,-,%# I(>%7&'/ =*-?" 7"%"'%,&'

EP?,%#I(J45.(%&(JQA.O +"7 +-*%D&70

2"="7*/" 37&D,-"I )&'$"7=*%,=" ?$"(&D(M"_%

2"/*-()&'%7&-I(.*R&7,%# +7"D"77"M

)-&$,'/ )"7%*,'%#

.*'*/"0"'%I()&'%,'?,%# +7"D"77"M

G*7/"% >":%&7$ )&7" `&:?$ H7"*$

HMM,%,&'*- H7"*$ &D Eg+"7,"':"

)&00"7:,*-(*'M(B'M?$%7,*-(>"7=,:"$h(GB))

STU1( G2

E'/,'""7"M( 37&M?:%$i.*'?D*:%?7,'/

<]1()S

E'/,'""7,'/1(B'D7*$%7?:%?7"1(*'M(G":8',:*-(>"7=,:"$

>]1( E]

b"*-%8:*7"(>"7=,:"$

!^1(F>

`&&M(.*'?D*:%?7,'/

)S

B'M?$%7,*-(G":8'&-&/#(*'M( H?%&0*%,&'

.*7;"%,'/1(G":8'&-&/#NE'*_-"M1(*'M(BG(>"7=,:"$h( 6,:8"()&'$?-%,'/

F>

)S

>:&%% ]a,--,*0 !"#"$%#$&-"(+#)( VK4LW(L4XNYXY4

)8*&7*' S,' !"#"$%#$&'%()*+,( VK4LW(L4XNYXYC

S*$&' T*' U*'% !"#"$%#$&'%()*+,( VK4LW(L4XNYXY@

F,-- >&00"7$:8,"-M !"#"$%#$&'%()*+,( VK4LW(L4XNYXYK

$/a,--,*0[;"#$%&'":*+,%*-\:&0

:R,'[;"#$%&'":*+,%*-\:&0

R=*'Z*'%[;"#$%&'":*+,%*-\:&0

_$&00"7$:8,"-M[;"#$%&'":*+,%*-\:&0

G&MM 2*'$:,&', !"#"$%#$&'%()*+,( VK4LW(L4XNYXQK

E7,; ]"7'*'% -(%#*%."/ VK4LW(L4XNYXCX

.*%% <"2&'/ -(%#*%."/ VK4LW(L4XNYXXY

!"=,' ^="7_# -(%#*%."/ VK4LW(L4XNYXCC

%-*'$:,&',[;"#$%&'":*+,%*-\:&0

"/"7'*'%[;"#$%&'":*+,%*-\:&0

0M"-&'/[;"#$%&'":*+,%*-\:&0

;&="7_#[;"#$%&'":*+,%*-\:&0

113

PORTFOLIO INVESTMENT CRITERIA

Kian Capital manages over $1bn in assets, is currently investing out of its oversubscribed $430M third fund and has closed on over 70 platform and add-on deals since our founding with the help of our network of intermediaries. We recognize the importance of deal referral sources in providing us with promising opportunities and offer referral fees for those resulting in a transaction.

Please contact David Duke at dduke@kiancapital.com with any opportunities that fit our areas of focus.

INVESTMENT CRITERIA $3-15M

$10-100M

GEOGRAPHY

in EBITDA

in Revenue

Continental US

OWNERSHIP DYNAMICS

TRANSACTION TYPES

COMPANY CHARACTERISTICS

Preference for founderowned / owner-operated businesses with a desire to reinvest a significant portion alongside Kian

Focused on control buyouts but will consider minority investments

•

•

• • • • •

Diversified customer base Has a true reason to exist; competitive advantage in their market; customer-focused value proposition Leader in a market of at least $500M Strong management team and leadership Attractive growth prospects — both organic and through acquisition Strong financial performance and controls Low CapEx — high variable costs; low fixed costs

SECTOR FOCUS AND TARGET VERTICALS SECTOR VALUE-ADDED DISTRIBUTION

BUSINESS MODEL • • •

TARGETED VERTICALS

Wholesale Technical Sales Aftermarket Parts and Services

• • • • • •

•

B2B

• • •

SERVICES

CONSUMER

SPECIALTY MANUFACTURING

•

Healthcare

•

Branded DTC

•

Multi-unit

•

Asset-light, assembled Proprietary design, formulas, etc.

Specialty contract manufacturing

• •

114

B2C

IT Services - MSPs, MSSPs, Cloud, application consulting services Expert consulting serving needs related to governance, compliance, certification, testing and inspection Commercial insurance services - brokerage, claims management related services Auto services - repair & maintenance services, collision services, dealer services Commercial/Industrial field & facilities services - environmental services, repair/maintenance services (tree/vegetation management, infrastructure services, commercial roofing, etc.)

•

Home services - pest, lawn care, landscaping, foundation repair, tree trimming, plumbing, electrical, etc.

Wealth management services Insurance agencies

•

Specialty practice — dental, dermatology, eye care, podiatry, PT, urgent care, etc.

•

Tech enabled business services to healthcare facilities

•

Automotive aftermarket Enthusiast end markets — outdoor, hunting, fishing, active lifestyle Pet products and services

• •

Industrial products - flow control, automation, motion control, fasteners, MRO/Safety, engineered components, infrastructure Home services end markets — HVAC equipment & supplies, plumbing, electrical Food, food ingredients, and food service equipment Packaging

•

• •

• • •

Replacement parts Personal care contract manufacturing Technical industrial products

!"##$%&'()*+ -,.+/,0(,12+3345+1)&6,$78$"6"(94,+:, .(#"*(3,;)&<=,"$,(),")>&$*?&)*,8()@,:+A7$&6,+),6&3">&9")B, &CA&#*"+)(3,9&$73*$,:+9,3&(6")BD,B9+1*25+9"&)*&6, (&9+$#(A&E6&:&)$&,()6,*&A2)+3+B4,A+?#()"&$/,F&, 3&>&9(B&,+79,A9&(*">"*4,()6,")67$*94,&C#&9"&)A&,*+,#9+>"6&, G-HD,#9">(*&,:")()A")BD,()6,$*9(*&B"A,A+)$73*")B/,;79,$&)"+9, *&(?,2($,(6>"$&6,+),+>&9,IJK,*9()$(A*"+)$,*+*(3")B,?+9&, *2(),LMN,8"33"+),"),6&(3,>(37&/,.(#"*(3"O")B,+),9&(35*"?&, ")67$*94,*9&)6$,()6,")56&#*2,*&A2)"A(3,()6,$*9(*&B"A, ()(34$"$D,+79,$+37*"+)$569">&),(##9+(A2,"$,2"B234,$*97A*79&6, ()6,7)"P7&34,*("3+9&6,*+,&(A2,A3"&)*/,F&,(9&,9&A+B)"O&6,:+9, +79,?(9@&*,")$"B2*,()6,89+(6,")67$*94,9&3(*"+)$2"#$/,F&, 2&3#,?(9@&*,3&(6&9$,9&(3"O&,*2&"9,:733,$*9(*&B"A,>(37&/

!"#$%&$'($)*'+),$%-&($.

W*5$)O%0$'+7$

G()(B")B,%"9&A*+9 G()(B")B, %"9&A*+9 JKM/TKT/IKUM @*9+&)63&V@"##$6&$()*+/A+?

J&79$%.0')='560'8

H$$+A"(*& WNM/TKN/TJUJ 1()*2+)4V@"##$6&$()*+/A+?

O%*'.*(5&0')P*%*4$5$%.)

Q04#%$6$'.&-$) .$77.&+$ *+-&.0%8

S$03%*#6&$.T)Q)"*&6,'*(*&$D, .()(6(D,()6,R79+#&

;*'*3$4$'5)<)!,RP I>80>5.)*'+)2&'*'(&'3

U'+>.5%8)V0(>.S,H&9+$#(A&D, 6&:&)$&D,B+>&9)?&)*,$&9>"A&$D, &)*&9#9"$&,*&A2)+3+B4

S%0:56)(*#&5*7) ,$7$(5&-$)<)5*%3$5$+) I>8.&+$)*+-&.0%8

U'5$3%&58

U'5$3%&58

P$%20%4*'($

/$$#)*$%0.#*($1)+$2$'.$1)30-$%'4$'5).$%-&($.1)*'+)$'5$%#%&.$) 5$(6'07038)9'0:7$+3$):&56)*)#%0-$')5%*(9)%$(0%+)02);<=).>(($..

?)20(>.)*%$*

HCD)M*'9$%.

?BCD)+$*7.

CFFD)I>8$%.

@$-$%*3$)0>%)$"#$%5&.$)&') *$%0.#*($1)+$2$'.$1)) 30-$%'4$'5).$%-&($.1)*'+) $'5$%#%&.$)5$(6'07038)50) '*-&3*5$)56$)(04#7$"&5&$.)

02)56$)&'+>.5%8A

=)+$$#)I$'(6)02)&'+>.5%8L +$+&(*5$+)I*'9$%.)(04I&'$.)

0>%)$"#$%5&.$)02).#$(&*7&N$+) &'.&365.):&56).$'&0%)I*'9$%) &'-07-$4$'5)*5)$-$%8).5*3$A

,&'($)EF?G1)0>%)5$*4))) 6*.)(70.$+)0-$%)?BC 5%*'.*(5&0'.):&56)*) 7&2$5&4$)02)EHFD)(70.$+) +$*7.).&'($)0>%)&'($#5&0'A)

J&56)0-$%)CFFD).5%*5$3&() I>8$%.)<)#%&-*5$)$K>&58) 2&%4.)(0-$%$+)*''>*778)) :$)+$7&-$%)56$)$"#$%5&.$) '$$+$+)50)#%0#$7)4*%9$5L 7$*+&'3)(04#*'&$.A

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

7$.0%,&< .0%,&< *"1 B0& !"%2/$1 >?? C"?? E$1$/*@ H0#$/"'$"& CC-$"3?; -$"3??; !"##$%&'()*+ -,.+/,0&01&2,34567,8, '94.,"$,)+*,(::";"(*&<,="*>,()?,+*>&2,@+0#()?,0&)*"+)&<,>&2&")/

!"#$%&'()*'+%,-.%/0)1.

23)*.%!455 678.'-9%:;%44!54 111/@"##$6&$()*+/A+?

115

!"#$%&'$"&()*!&$*!+( !"#$%&'$"&()*+$( !"54%&01$%(

,-./01&*(/0(,1"/01&*(2341&*( 6-74$8-55$5(51%&0194&1/":(%+$;1-7&*(%$0#1;$%:(-"5("1;<$('-"4=-;&401">(

(?/'+-"*(@1A$(

BC8DEF('1771/"(/=(2G!)HI(

)0-"%-;&1/"()*+$%(

• J$;-+1&-71A-&1/"%( • ,-"->$'$"&(G4*/4&%(

K7$N19171&*( L$/>0-+<*(

• K-'17*(@4;;$%%1/"%( • L0/M&<(?-+1&-7(

H$'/"%&0-&$5(-9171&*(&/($#-74-&$(-"5(;7/%$(&0-"%-;&1/"%(M1&<(;/'+7$N(O(%&1;P*(/M"$0%<1+(%1&4-&1/"%:(;4%&/'$0(/0( #$"5/0(;/";$"&0-&1/":(-"5(/&<$0(;/''/"7*(15$"&1=1$5(&0-1&%(M1&<1"(7/M$0('1557$8'-0P$&(94%1"$%%$% Q"1&$5(@&-&$%

),**$"&(-.*&/.0!. @$71"%P*(KRJ?2( ?-"&/":(RS( ,-"->$'$"&(G4*/4&(

!"8+7-"&(%$0#1;$%(+0/#15$0(/=(1"54%&01-7:(0$=0-;&/0*:(+1+1">:(+/M$0:(;/"%&04;&1/":(-"5($341+'$"&(0$"&-7( %$0#1;$%(&/( ;4%&/'$0%(M1&<1"(&<$($">1"$$0$5('-&$01-7%:(1"54%&01-7('-"4=-;&401">:(+/M$0:(;1#17(;/"%&04;&1/":(-"5(/&<$0(1"54%&01-7( $"5('-0P$&%(

,177$0(!"&$>0-&$5(@/74&1/"%( H$$0(T-0P:()U( ,-"->$'$"&(G4*/4&(

!"8+7-"&( %$0#1;$%( +0/#15$0( /=( 1"54%&01-7( ;7$-"1">:( '$;<-"1;-7( V( ;/"%&04;&1/":( -"5( $"#10/"'$"&-7( %$0#1;$%( &/( ;4%&/'$0%(M1&<1"(&<$(0$=1"1">:(+$&0/;<$'1;-7:(;<$'1;-7(V(->0/;<$'1;-7:(4&171&1$%(V($"$0>*:(%&/0->$(&$0'1"-7:(-"5( /&<$0(>$"$0-7(1"54%&01-7($"5('-0P$&%(

$)$;<(2"#10/"'$"&-7(V(@-=$&*(@/74&1/"%( R5$%%-:()U( ,-"->$'$"&(G4*/4&(

K1$75( %$0#1;$%( +0/#15$0( /=( 0$>47-&/0*( '-"5-&$5( %/17( %-'+71">( V( &$%&1">:( $"#10/"'$"&-7( 0$'$51-&1/":( M-%&$( '-"->$'$"&:( -"5( 7/">8&$0'( ;/'+71-";$( %$0#1;$%( &/( ;4%&/'$0%( M1&<1"( &<$( 4+%&0$-'( V( '15%&0$-'( $"$0>*:( >/#$0"'$"&:(-"5(1"54%&01-7($"5('-0P$&%(

,-0$P(@-M1">(V(H01771">( @+01">:()U( ,-./01&*(J$;-+1&-71A-&1/"(

K1$75( %$0#1;$%( +0/#15$0( /=( ;/";0$&$( %;-""1">:( ;4&&1">:( 5$'/71&1/":( -"5( +7-;$'$"&( %$0#1;$%:( +0/#151">( ;/'+7$&$( 71=$;*;7$( %4++/0&( &/( ;4%&/'$0%’ facilities within &<$( ;/''$0;1-7:( <$-7&<;-0$:( 1"54%&01-7:( $54;-&1/":( -"5( %+/0&%( V( $"&$0&-1"'$"&($"5('-0P$&%(

)</0+$(@+$;1-7&*(@$0#1;$%( S/4%&/":()U( ,-"->$'$"&(G4*/4&(

!"8+7-"&(%$0#1;$%(+0/#15$0(/=(%+$;1-7&*(1"54%&01-7(;/00/%1/":(0$=0-;&/0*:(%;-==/751">(V(1"%47-&1/"(%$0#1;$%(&/(;4%&/'$0%( M1&<1"( &<$( ;<$'1;-7:( +$&0/;<$'1;-7:( +/M$0:( "-&40-7( 0$%/40;$%( W71'$X:( +47+( V( +-+$0:( '$&-7%( V( '1"1">:( -"5( /&<$0( 1"54%&01-7(-"5(1"=0-%&04;&40$($"5('-0P$&%(

)<$(Y-0$</4%$(J$"&-7%(V(@4++71$%( Z-(T/0&$:()U( ,-"->$'$"&(G4*/4&

6-74$8-55$5(51%&0194&/0(/=(%40=-;$(+0$+-0-&1/":(-90-%1#$(97-%&1">(V(+-1"&1">:(%-=$&*($341+'$"&:(-"5(;/"%4'-97$%( &/(;4%&/'$0%(M1&<1"(&<$(1"54%&01-7:(;/''$0;1-7:(1"=0-%&04;&40$:(&0-"%+/0&-&1/":(-"5($"$0>*($"5('-0P$&%(

T0$;1%1/"(!'+-;&%( ,1-'1%940>:(RS( ,-./01&*(J$;-+1&-71A-&1/"(

[1;<$( '-"4=-;&40$0( /=( $N&045$5( %+$;1-7&*( -74'1"4'( -"5( ;/'+/%1&$( /#$0( M0-++$5( ;*71"5$0%:( &-"P%:( -"5( /&<$0( ;/'+/"$"&%(&/(;4%&/'$0%(M1&<1"(&<$(;/"%4'$0:(5$=$"%$:(1"54%&01-7:('$51;-7:(-"5(%+/0&1">(>//5%($"5('-0P$&%(

\-;P%/"(!"=0-%&04;&40$(@$0#1;$%( Y$%&(\/05-":(Q)( ,-./01&*(J$;-+1&-71A-&1/"(

K1$75( %$0#1;$%( +0/#15$0( /=( 4"5$0>0/4"5( =19$0/+&1;:( +4971;( 1"=0-%&04;&40$:( -"5( "-&40-7( >-%( '-1"71"$( 1"=0-%&04;&40$( 1"%&-77-&1/"(-"5('-1"&$"-";$(%$0#1;$%(&/(;4%&/'$0%(M1&<1"(&<$(&$7$;/'(-"5(4&171&*($"5('-0P$&%(

!V!(@/=&(?0-=&(@/74&1/"%( [$M(R07$-"%:(ZI ,-./01&*(J$;-+1&-71A-&1/"(

!"8+7-"&( %$0#1;$%( +0/#15$0( /=( 1"54%&01-7( 1"%47-&1/":( =10$+0//=1">:( <$-&( &0-;1">:( +-1"&1">( V( ;/-&1">:( 0$=0-;&/0*:( %;-==/751">:(-"5(-9-&$'$"&(%$0#1;$%(&/(;4%&/'$0%(M1&<1"(&<$(Z[L:(0$=1"1">:(;<$'1;-7:(>-%:(+0/;$%%1">:(+/M$0:(+47+( V(+-+$0:(>$"$0-7(1"54%&01-7(-"5('-01"$($"5('-0P$&%(

K0-"P%&/"(T-;P->1">( K0-"P%&/":()U( ,-./01&*(J$;-+1&-71A-&1/"(

[1;<$( '-"4=-;&40$0( /=( ;4%&/'( -"5( %&/;P( =/751">( ;-0&/"%:( =7$N197$( +-;P->1">:( +0$%%40$( %$"%1&1#$( 7-9$7%:( -"5( ;/004>-&$5(9/N$%(&/(;4%&/'$0%(M1&<1"(&<$(=//5(V(9$#$0->$:(;/";$%%1/"%:(=//5%$0#1;$:(+<-0'-;$4&1;-7:('$51;-7(V( "4&0-;$4&1;-7:(-"5(>$"$0-7(0$&-17($"5('-0P$&%(

27$;&01?/'( T-/71:(![ ,1"/01&*(J$;-+1&-71A-&1/"(

K1$75( %$0#1;$%( +0/#15$0( /=( -$01-7( V( 4"5$0>0/4"5( =19$0/+&1;( -"5( +/M$0( 51%&0194&1/"( 1"%&-77-&1/"( -"5( '-1"&$"-";$( %$0#1;$%(&/(;4%&/'$0%(M1&<1"(&<$(&$7$;/'(-"5(4&171&*($"5('-0P$&%(

I+/>$$(Z1><&1">( H$$0(T-0P:([]( ,-./01&*(J$;-+1&-71A-&1/"(

[1;<$( '-"4=-;&40$0( /=( <1><7*( $">1"$$0$5( +0$%%40$8+0//=:( &-'+$08+0//=:( M$-&<$08+0//=( Z2H( 71><&1">( =1N&40$%( &/( ;4%&/'$0%( M1&<1"( &<$( 1"54%&01-7:( 1"=0-%&04;&40$:( -"5( '-%%8&0-"%1&( $"5( '-0P$&%( -%( M$77( -%( 1""/#-&1#$:( ;4%&/'( 5$%1>"$5(-0;<1&$;&40-7(=1N&40$%(&/(;4%&/'$0%(M1&<1"(&<$(;/''$0;1-7(-"5(0$&-17($"5('-0P$&%(

G,!(,$0;<-"51%$( 6-74$8-55$5( 51%&0194&/0( /=( 0$5$'+&1/"( '$0;<-"51%$( &/( ;4%&/'$0%( M1&<1"( &<$( =-'17*( $"&$0&-1"'$"&( ;$"&$0:( Z-P$M//5:([\( -'4%$'$"&:(9/M71">(;$"&$0:(0$%&-40-"&:(;041%$(%<1+:('/#1$(&<$-&$0:(&<$'$(+-0P:(-"5(%+/0&%(;/'+7$N($"5('-0P$&%( ,-./01&*(J$;-+1&-71A-&1/"(

"#$!%&'()&*!+!,-.-!/0!123!4526)!126*78&9:;!46()7!<=> ?&@'&;!A#!..B-C +!?D#E!FG.0===0-GB-

116

!"#$ "#!$!%&' ()*)+$&",*-!.%./0)$+/,12-!3$4"10/,5*)2!"*26#&+"$1!7,*(1,4)+$&)-!')$286$+&)+)2!"*!9:$*#:"11)-! ;<-!5"&'!#"=!>?@!,A)+$&"*(!7,4A$*")#-!BC!1,7$&",*#-!$*2!C-DEEF!&)$4!4)4G)+# ()*)+$&"*(!H.IJKF!"*!+):)*6)I!

%&'(!"#$)(

L6+!M61&6+)!N$O)#!P#!P*"86)I!!Q)!#A)7"$1"R)!"*!(+,5"*(!3,6*2)+!$*2!3$4"10/,5*)2!7,4A$*")#I!!L6+!7,+)! :$16)#!2+":)!,6+!2)7"#",*#I!!Q)!G60-!(+,5-!$*2!',12I!!Q)!',12 3,+!2)7$2)# >,+!7)*&6+")#@I!!Q)!7$*!A+)#)+:)!$*2! (+,5!0,6+!1)($70I!!Q)!$+)!)=A)+")*7)2-!7,*#&+67&":)!$*2!O*,51)2()$G1)!,A)+$&"*(!A$+&*)+#I Q)!71,#)!86"7O10 G)7$6#)!&'"+2/A$+&0!3"*$*7"*(!"#!*,&!&0A"7$110!+)86"+)2I!Q)!$+)!7+)$&":)!$*2!31)="G1)!+)($+2"*(!#&+67&6+)I!

*+,-./0123 456-.(7(*+89./:9+/(#01/9012( *+,-./0123(456-.

• S1$&3,+4T ;*26#&+"$1 4$*63$7&6+"*(!,+!2"#&+"G6&",* U22/L*#T • Q',1)#$1)!VWUM!2"#&+"G6&",* • X,,2!A+,7)##"*(!)86"A4)*& • Y)1)7,4!)*71,#6+)#Z7$G"*)&# • [)76+"&0!#0#&)4#!"*&)(+$&,+ • ;*26#&+"$1!7,*&+,1#Z$6&,4$&",*

*,923(;1<9

=32/>50: 50(?,,A"+B • \):)*6)!6A!&,!HC%EN • 9K;Y]U 6A!&,!HC%N !!!!!>;2)$1!S1$&3,+4!у H.EN@ !!!!!>;2)$1!U22/L*!!!у H%N@ • 986"&0!;*:)#&4)*& 6A!&, H.%EN!

=09>9009,(?//01@-/9.

• [&+,*(!761&6+$1!3"& • X,6*2)+!,+!X$4"10/L5*)2 • P[!')$286$+&)+#!>A+)3)+$G10!

N"25)#&-![,6&'!,+![,6&')$#&@ • [&+,*(!4$*$()4)*&!&)$4 • N$^,+"&0!,5*)+#'"A!>.EE_!

A+)3)++)2@

$1./50' D950E9(!56&(;5+.F(GG# H 9./2@31.&9,(IJKL M?,,A5+.(1+(INNOF(POONF(POILF(POIQF(POIKR

!56&(?10F(GG#(H(9./2@31.&9,(INLS

M?,,A5+.(1+(INNTF(INNSF(POIJF(POPIR

D1@@.(C19(#2./1+E #50UV(H(26W-109,(INSN( M?,,A5+.(1+(INNNF(POOOF(POOTF(POOSR

X+1.923F(*+6V(H(26W-109,(INJQ AAAAAAAAAAAAAAAAAAAAA(;"GC(POIJ( ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((MLL('0.R(

Y02Z9(;-UU3'(#5VF(*+6V(H(26W-109,(INJS(AAAAAAAA(;"GC(POPT( M?,,A5+.(1+(POONF(POPIR((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((MLJ('0.R

?-,-@5+([9/23.F(GG#(H(9./2@31.&9,(INNS( M\9]2. 9]U2+.15+(1+(POPIR

;5-/&(%9./90+(#5::-+162/15+.F(*+6V(H(26W-109,(POOS (M?,,A5+.(1+(POONF(POPOF(POPIR

?:U05,F(GG#(H(26W-109,(POPI C923(#5+/26/(

M?,,A5+(1+(POPLR

[&):)!M'6+7'-!WS!M,+AI!]):I(((((#7'6+7'`O,7'117I7,4!!!!!4T!>D.C@!JDE/JEC%!!!!!,T!>D.C@!J?%/a?aB

117

Transaction Advisory Managing Risk, Ensuring Success

Whether you re looking to buy a company or sell one, it s crucial to make calculated, thoughtful decisions, overcome any potential roadblocks, and bring your deal to a close. That s exactly what Katz, Sapper & Miller s dedicated transaction advisory team does.

Using our middle market expertise and diverse range of transactional experience, we help you get the most out of your transaction throughout the entire process.

Deal Success Made Simple

Here s a look at some of our recent deals.

Pre Transaction Advisory

Financial modeling Tax structure optimization Letter of intent consultation Sell side due diligence Historical accounting record clean up Organize and streamline chart of accounts Cash to accrual basis conversion

Due Diligence

Financial due diligence Quality of earnings evaluations Net working capital analysis Tax due diligence, including federal, state and local, and international IT and cyber due diligence Key deal issues and liability exposures EBITDA and cash flow trends and projections Business valuation services Internal controls and financial reporting reviews

Post Transaction Advisory

Working capital adjustments Purchase price adjustments and support for allocation Opening balance sheet audits Financial modeling First year tax return preparation Audit Impairment testing of goodwill and intangible assets Outsourced finance and accounting

ksmcpa.com/transactions

118

Our Recent Deals

$2M 20M

175

Up to $500M

30+

Average EBITDA Range

Annual Deal Volume

Experienced Transaction Professionals

Deal Range

About KSM Founded: 1942 Partners: 70 Employees: 700+ Offices: 5 Indianapolis Cincinnati Evansville Fort Wayne New York

Matt Long

Director of Business Development, Private Equity P 317.452.1365 E mlong@ksmcpa.com

© 2025 KSM Business Services, Inc.

;""9'%#9'<,+,.%=,'>?:,.$/), *#+,)$-,#$'!./$,./%

07"5$'() !"#"$$%&'"()*"$ )+&"&$%",)-. $/0%1 2),,$% 2"13%* (1)4"*% %56)*7 8)12 0)*9 ,/2")- %:(%1*)+% "-,& "& (1/4%- *1";3 1%;/1, /8 +6;;%++86$ )-4%+*2%-*+ )- *9% 8//, "-, <%4%1".% %;/+7+*%2=&&>% 6*)$)?%&"&+*1"*%.); "-, 9"-,+@ /- )-4%+*2%-* "((1/";9 *9"* 1%+(%;*+ *9% 3-/0$%,.% /8 *9/+% 09/ <6)$* "-, /(%1"*% *9% <6+)-%++%+ 0)*9 09);9 0% )-4%+* "-, $%4%1".%+ /61 ,%%( )-,6+*17 %:(%1*)+% */ +6((/1* 86*61% .1/0*9 "-, 2"1.)%-9"-;%2%-*=& >)*9& ,%;",%+ /8 ;/2<)-%, %:(%1)%-;%A 0%& 6-,%1+*"-, *9% 6-)56% -%%,+ /8 %-*1%(1%-%61 "-, 8"2)$7@/0-%, <6+)-%++%+ "-, 9/0 <%+* */ +*16;*61% *1"-+";*)/-+ *9"* 0/13 8/1 "$$ ("1*)%+=& >% +*1)4% */ ("1*-%1 0)*9 %:;%(*)/-"$ 2"-".%2%-* *%"2+ 09/ 9"4% "&("++)/- 8/1 *9%)1 <6+)-%++ "-, +%%3 ",,)*)/-"$ ;"()*"$ "-, ("1*-%1+9)( */ 86$$7 1%"$)?% *9%)1 <6+)-%++ ./"$+ "-, ,1)4% +9"1%9/$,%1 4"$6%=

*#+,)$-,#$'8,%-

@%+/9' A5.%+' !"#$%&#'

0#9.,E @FE"#&GCH !"#$%&#'

B,11.,C' D%4$,.)' !"#$%&#'

@%+/9' 8%/&4,$ ()*&'!#&+),&%$

8"'9/)&5))'/#+,)$-,#$'"::".$5#/$/,)A&($%"+%&;/-*";*Z& ! B"4),&S61"4&@&,261"4[$"+"$$%;"()*"$=;/2 ! K-,1%0&B?0/-;973&@&",?0/-;973[$"+"$$%;"()*"$=;/2

!"#$%&$'() _FL@L_^@`G]F 000=$"+"$$%;"()*"$=;/2 FMM&\=&>";3%1&B1)4%A&#6)*%&]LMG '9);"./A&J!&^G^G^

! #*1/-.A&,%8%-+)<$%&2"13%*&(/+)*)/! #).-)8);"-*&(/*%-*)"$&8/1&$/-.@*%12&.1/0*9 ! B)4%1+)8)%,&;6+*/2%1&<"+% ! #*"<$%&"-,&(1%,);*"<$%&;"+9&8$/0 ! C"$%-*%,&2"-".%2%-*&*%"2&0)*9&"&(%1+/-"$& )-4%+*2%-*&)-&*9%&<6+)-%++ ! D%4%-6%&<%*0%%-&EFG&"-,&EFGG&2)$$)/! HIJCBK&<%*0%%-&EL&"-,&EFM&2)$$)/-

0.,%)'"1'*#$,.,)$

! #(%;)"$*7&8//,&2"-68";*61%1+&0)*9& ,)88%1%-*)"*%,&(1/,6;*&(/+)*)/-)-. ! N//,+%14);%A&(1%2)62&(1)4"*%&$"<%$&"-,&-);9%& 1%.)/-"$&<1"-,+ ! K6*9%-*);A&-"*61"$&(1/,6;*&/1)%-*"*)/! '$%"-&)-.1%,)%-*&,%;3+ ! O-)56%&(1/,6;*)/-&;"("<)$)*)%+&P&;1"8*&/1& "1*)+"-&(1/,6;*)/-&(1/;%++ ! I%**%1@8/1@7/6&/1&)-,6$.%-*&(1/,6;*+ ! O-)56%&1%;)(%+&"-,&P&/1&;%1*)8);"*)/-+&Q%=.=A& .$6*%-@81%%A&-/-@RSTA&U/+9%1A&#VNW ! #(%;)"$)?%,&+%14);%&(1/4),%1+&)-&*9%&8//,&X& <%4%1".%&%;/+7+*%2

2."+,#'3%45,'!.,%$/"#'6,+,.)

! '1%"*%&"-,&)2($%2%-*&./@*/@2"13%*&"-,& ;9"--%$&%:("-+)/-&+*1"*%.)%+ ! H-9"-;%&2"1.)-+&*91/6.9&(1/,6;*)4)*7&"-,& %88);)%-;7&)-4%+*2%-*+ ! H4"$6"*%&(1);)-.&"-,&(1/,6;*&(/1*8/$)/+ ! N";)$)*"*%&-%0&(1/,6;*&,%4%$/(2%-*& "-,&),%"*)/! Y1/8%++)/-"$)?%&"-,&<6)$,&/6*&*%"2+ ! N)-"-;%&;/-*)-6%,&/1."-);&.1/0*9 ! J,%-*)87&"-,&%:%;6*%&",,@/-&";56)+)*)/-+

119

LCG ADVISORS Firm Overview ABOUT THE FIRM LCG Advisors is a leading financial consulting and transaction advisory firm specializing in mergers & acquisitions and other select advisory services. We offer a wide breadth of services providing clients with one comprehensive source for high-level advisory expertise. Regardless of the situation, we believe in something bigger: the relationship with our clients.

(813) 226-2800 www.lcgadvisors.com

KEY DIFFERENTIATORS

OUR CLIENTS

Wide breadth of services and a single source for situations requiring high-quality financial guidance Big-Four resources with a boutique feel and flexible approach Exceptional responsiveness and communication Tailored approach to each client and engagement Cost-effective offerings in even the most complex situations

36% Banks Commercial Lenders

LCG DIVISIONS

27%

Investment Banking

Transaction Advisory Services

Background Investigations & Related Services

Business Valuation

Strategic Financial Consulting

Business & Technology Integration

Forensic Accounting & Litigation Support

Field Examination & Lender Services

WHO WE ARE

LCG was founded in 2003 as a response to the need for specialized financial services within several niche markets. Now, LCG has an extensive presence in the lower middle market across more than eight divisions with over 140 employees nationwide. Along with the external work we do, we are proud to be named a Best Places to Work honoree several years in a row.

250

1K

150

Trusted advisor to over 250 clients

Serves on over 1K transactions annually

Over 150 employees throughout the U.S.

Corporate Headquarters 201 E. Kennedy Blvd, Suite 1700 • Tampa, FL 33602

120

Private Companies

17% Private Equity Groups

12%

Law Firms

8%

Private Credit Investment Funds

Western Regional Headquarters 3400 E Bayaud Ave, Suite 310 • Denver, CO 80209

Q1-25

UNLOCKING THE POTENTIAL OF PREMIER SMALL BUSINESSES

ABOUT US: Based in Nashville, TN, Lead Capital Partners is a private investment firm focused exclusively on healthcare companies in the lower middle- market. Lead Capital acquires majority ownership positions in founder owned and operated businesses. Lead Capital provides liquidity to shareholders of privately owned businesses, facilitates transition of ownership to key managers, and provides an environment that allows employees and management teams to capitalize on growth opportunities. We are not operators; rather, we are a resource for management, leveraging our healthcare industry knowledge and experience operating in a highly regulated environment. We work closely with management to set the company’s strategic direction and support activities that will increase the company’s value at the eventual time of exit.

INVESTMENT PRINCIPLES

INVESTMENT TEAM Pryor Smartt Managing Partner (615) 400 1528 psmartt@leadcp.com Tate McNeilly Director (615) 969 9808 tate@leadcp.com Carl Grote Director

HEALTHCARE SERVICES

RECURRING REVENUE

GROWING INDUSTRY

FRAGMENTED LANDSCAPE

DIVERSE CUSTOMER BASE

(615) 948.3512 cgrote@leadcp.com

GEOGAPHIC DENSITY

Brenna Thomson VP Business Development (615) 545 3133

INVESTMENT CRITERIA $2–$7MM EBITDA CRITERIA

$10–$50MM REVENUE CRITERIA

6+ YEARS HOLD PERIOD

$10-$50MM ENTERPRISE VALUE

bthomson@leadcp.com John Peake, CPA VP of Finance & Fund Administration (478) 972 2863 jpeake@leadcp.com

CURRENT TARGET SECTORS

Chip Royal Associate (919) 810 9759 croyal@leadcp.com HEALTHCARE SERVICES

HEALTHCARE IT

PROVIDER BASED PLATFORMS

Clinical Research

Continuing Education / Training

Compliance / Credentialing

Cyber Security

Continuing Education Correctional Healthcare

Autism Treatment Services Dental

Employee Health & Wellness

Data Analytics Laboratory Information Management

Hospital Staffing

Practice Management

Home Health / Hospice

IT Support / Optimization Laboratory Services

Revenue Cycle Management Telemedicine

Substance Use Disorder Women’s Health / Fertility

Revenue Cycle Management

Utilization / Population Management Vendor Management System

Other Specialty PPM

Specialty / Veterinary Pharmacy Third Party Administrators

Adult & Adolescent Behavioral Health

Dermatology

Anthony Swenson Associate (615) 881 6548 aswenson@leadcp.com

www.leadcp.com bthomson@leadcp.com | (615) 545 3133 3817 Bedford Ave | Suite 220 | Nashville, TN 37215

121

LFM Capital

David Juneau Senior Associate (615) 620-5127 david@lfmcapital.com

1312 Third Avenue North Nashville, Tennessee 37208 lfmcapital.com

Operators. Engineers. Partners.

About LFM Capital We are a Nashville-based private equity firm founded by operators and engineers. We invest in manufacturing companies in the U.S. and Canada.

We are driven by a passion for invigorating the manufacturing sector in North America. Our vision is to grow successful manufacturing businesses that leave a lasting legacy.

Investment Focus Financial Profile Fund Size:

$310 million

Type:

Lead or control investments

Transaction:

Management Buyout, Corporate Carve-out, Strategic Add-ons

Company Size:

$3 to $15 million EBITDA

Sector:

North American manufacturing and industrial services

Our Approach We have a highly flexible model.

We are excited to partner with current owners and management teams. We also partner with owners looking to make a transition and work together to help identify the next leader.

We are on-call to support management teams with operational expertise but give them autonomy to run their businesses. We work hard to preserve legacy, focus on company culture, and empower employees to develop and grow.

We believe manufacturing transcends the shop floor.

Sales, marketing, product development, supply chain, distribution, and manufacturing are all critical to success. We work alongside companies to identify their growth levers and then work as a team to decide which to pull and how hard.

122

LFM Senior Team Steve Cook, Executive Managing Director Principal, TVV Capital COO, MFG.com Southeastern Regional Senior Director, Dell Lieutenant, U.S. Navy B.S. Electrical Engineering, US Naval Academy M.S. Electrical Engr. and Computer Science, MIT MBA, MIT Sloan School of Management Dan Shockley, Managing Director General Manager, Ditch Witch General Manager, Caterpillar Facility Manager, Caterpillar B.S. Metallurgical Engineering, University of Missouri Rolla M.S. Mechanical Engineering, MIT MBA, MIT Sloan School of Management Chris Lin, Managing Director Case Team Leader, Bain & Company B.S. Biomedical Computation, Stanford M.S. Electrical Engr. and Computer Science, MIT MBA, MIT Sloan School of Management

Jessica Ginsberg, Managing Director Portfolio Management Officer, Bank of America Vice President, Essex Investment Management Associate, Pamlico Capital Analyst, Leveraged Finance, Bank of America BSBA, Georgetown University

Conner Harris, Managing Director Vice President, The Riverside Company Vice President, BDCA Analyst, BlackArch Partners Mechanical Engineer, Westinghouse Nuclear B.S. Mechanical Engineering, North Carolina State University

Ken Hoefling, Operating Partner** Vice President, Caterpillar General Manager, Caterpillar Product Manager, Engineering Manager, various engineering positions, Caterpillar BS, Iowa State University Caterpillar Executive MBA, Stanford University

**Operating Partners are employees of LFM, but the Firm is reimbursed by the portfolio companies where they dedicate time.

Partnering with owner-managers

How we are different

We focus exclusively on owner-managed businesses using a unique partnership model that enables owners to realize substantial liquidity at closing and retain board control.

What shareholders receive POST INVESTMENT

AT CLOSING •

•

Realize up to 85% of business value in cash

• •

Continued ownership of 30% or more of their business Continued control of their company’s board of directors and their own destiny A value-added partner aligned to support the continued success of their business

What we look for TYPICAL SITUATIONS

INVESTMENT CRITERIA • • • • •

Owner-managed businesses Headquartered in the US Enterprise values of $20MM - $150MM Management team has a desire to collaborate on creating additional value Strong management team with a plan for continued growth and desire for a meaningful ownership stake

• • • •

Asset diversification Diversification with a shift in responsibilities Cash out inactive shareholders Generational transition

The Lineage team has completed more than 60 investments over the last 20 years.

The firm is currently investing out of a $275 million committed fund.

For more information Erik Dykema | erik@lineagecap.com | (617) 778-0665 399 Boylston Street, Suite 450, Boston, MA 02116

123

INDEPENDENT SPONSORSHIP Loki is a dynamic investment firm that rigorously evaluates potential investment opportunities across a range of interest areas. While we maintain a diversified approach, we concentrate the majority of our efforts on lower middle market buyouts in “Old-World economy" industries. Our diversified approach allows us to identify and capitalize on opportunities with varied investment horizons and product markets. Our investment criteria reflect our commitment to identifying high-potential companies that can benefit from our expertise and resources.

INVESTMENT CRITERIA

CASE STUDY

EBITDA: $2+ MILLION Target Industries Old World Economy Paving, Wood Processing, Roofing, Freight, Other Blue-Collar Industries Other Industries Cyber Security, Healthcare, Water Characteristics Growth Opportunities: Companies seeking capital for expansion or potential buyout opportunities.

A passionate executive team dedicated to realizing their vision.

Market Resonance: Unique, customer-centric products and services.

A commitment to delivering market value through ingenuity.

Financial Stability: A robust financial foundation with transparency and effective management.

Demonstrated financial discipline and resource management.

Market Savvy: A clear understanding of market dynamics and a knack for seizing growth opportunities.

Thriving in markets with high fragmentation and low-tech adoption.

Competitive Edge: Possessing a distinctive advantage that sets the company or sponsor apart.

A clear strategy to maintain and leverage this competitive advantage.

Exit Strategy Excellence: A well-defined vision for achieving large multiple exits, ensuring a profitable return on investment.

CONTACT US TO LEARN MORE 124

Loki Group spearheaded the strategic growth of Coyote, a multifaceted player in the paving industry. Over 2-3 years, Loki advised Coyote on strategic growth levers to increase revenue and valuation.

Strategic Growth: Beginning with a deep dive discovery of Coyote's current business model and operations, Loki led the development of Coyote's strategic vision and paths of opportunity to grow. Loki’s robust understanding of the paving industry fueled guidance for Coyote to target more maintenance/repair revenue, pursue additional municipality work to broaden its market appeal, and identify methods for it to better utilize equipment and team resources to increase margins by a minimum of 25%. This streamlining of labor and equipment utilization helped Coyote to earn ~5x the average revenue per employee in comparison to similar companies.

Prepare for Exit: Loki conducted a strategic evaluation; analyzed and refined financials, data, and operations; and developed materials to present Coyote in methods that resonated with sophisticated buyers.

Coyote ultimately sought a majority recapitalization. Loki advised Coyote as it navigated the complexities of the sales process, ensuring a seamless transition to new ownership while preserving Coyote's esteemed reputation and maximizing shareholder value, helping Coyote to achieve a value 3x that which the owner originally anticipated.

Alok Gupta, CEO and Founding Managing Partner alok.gupta@lokiequity.com 678.358.3330 www.loki.group

!"#$%&'()*%"$%#(&+),"$'-.$"#'%)/$"%'#"-0&.A% "&% 0%"0.(%: ,(7%0#8%(# )&.2%00,.("*0 )&.7,:,(- 3.**"9.&"#,7%' *,=6,:,#+' 0.*6#,.(0 #.

08"** "(:'8%:,68'0,1%: 960,(%00%0',('#$% )&.2%00,.("* 0%&7,3%0 "(: *,-$# 8"(62"3#6&,(B' :,0#&,96#,.(' ,(:60#&,%0;' C%7%&"-,(- .6& %@#%(0,7% #&"(0"3#,.( %@)%&,%(3%4 5% 2",#$26**+ :%)*.+ .6& (%#5.&? "(: .)%&"#,.("* &%0.6&3%0 #. 3&%"#% ).&#2.*,.' 7"*6%;' >6& 8,00,.( 3%(#%&0 "&.6(: "( .)%,#45,)1 +-66,'6#)' #. #$% -&.5#$ "(:' 0633%00' .2 .6& )"&#(%& 960,(%00%04' *%":,(-' 5,#$' 36*#6&%/96,*:,(-4' %8)*.+%% %8).5%&8%(#4 8"("-%8%(#' B' 0#"?%$.*:%& "*,-(8%(#4 "(: :,&%3#4 #&"(0)"&%(# 3.886(,3"#,.(;'

7'8#-%>#'%)C$'@$%#

G$?H#)!"#$%&5'

! D*%@,9*%'3"),#"*'0#&63#6&%'"(:',(7%0#8%(#' $.&,1.(0 ! E&%2%&&%:'0,1%'3$"&"3#%&,0#,30F !

!%7%(6%'.2'GHI'#.'GJI'8,**,.(

!

KLMNOP'.2'GQ'#.'GJ'8,**,.(

[.7%&("(3%

R"("-%8%(#' P6-8%(#"#,.(

MN'B' M(2&"0#&63#6&%

P3=6,0,#,.(0

D,("(3%'B' A.&?,(-' <"),#"*

! R.#,7"#%:4'%=6,#+/.&,%(#%:'8"("-%8%(# ! S60#",("9*%'3.8)%#,#,7%'":7"(#"-% ! <+3*,3"*'&%0,0#"(#'%(:'8"&?%#0 ! P3#,.("9*%'-&.5#$'.)).&#6(,#,%0

S"*%0'B' R"&?%#,(-

! O,7%&0,2,%:'360#.8%&'9"0% ! S6)%&,.&'360#.8%&'0%&7,3%'8.:%* ! S#"9*%'"(:')&%:,3#"9*%'3"0$'2*.5

123)4#$"-)56) 7'8#-%&'() 9:.#"&#'+#

A.&?'\"&:4' E*"+'\"&:

KS[

;8#")<=2) ,"$'-$+%&5'-) !5>.?#%#@

*%"5'()7'8#-%5") D#%E5"F

;8#")AB22) C&??&5')56) !$.&%$?)

C$'$(#@

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

9#::&;,<#$

=(>#''#&?#)(1()

-86**,(0T*@)3"),#"*;3.8

U),)%&T*@)3"),#"*;3.8

9$%("-"(T*,(@)"&#(%&0;3.8

VIV;WJJ;VIIX

WWY;ZHI;VWZZ

VIV;QWY;IIQH

125

The Partnership Portfolio Companies Want with the Capital They Need Main Street provides debt and equity capital to lower middle market companies. Through a unique, one stop shop partnership model, Main Street offers capital solutions to entrepreneurs, business owners, and management teams to meet their goals whether to diversify wealth, achieve liquidity, complete a management buyout or execute mergers and acquisitions.

81

PORTFOLIO COMPANIES

$3 $20M

194

CUMULATIVE INVESTMENTS

$5 INVESTMENT $125M+ SIZE

EBITDA CRITERIA

$8.0B

CAPITAL UNDER MANAGEMENT

OVER

DIVERSE INDUSTRIES

50

INVESTMENT CRITERIA

INVESTMENT STRUCTURES

TRANSACTION TYPES

Revenue of $10 $150M EBITDA of $3 $20M Stable, positive cash flow Proven market position Strong management team $10 $100M investment size Ability to syndicate larger transactions Industry generalists

One Stop debt & equity capital (majority & minority) Common equity Preferred equity Senior secured term debt Unitranche term debt Subordinated term debt Long term structures with minimal or no fixed amortization

Recapitalizations Family estate planning Management buyouts Refinancings Strategic acquisitions Expansion and growth initiatives for later stage companies Change of control

Not Traditional Private Equity ONE-STOP SHOP CAPITAL Simplified Capital Structure

LONG TERM CAPITAL Flexible and long-term

We have the flexibility to customize investment structures to meet the needs of our portfolio companies. Main Street s primary objective is to create a capital structure that best aligns the interest of all stakeholders in both good economies and more challenging markets.

As a publicly traded investment firm, we have permanent capital and are not bound by the requirements of most institutional funds. This allows us the flexibility to be a longt erm partner, without being pres sured with arbitrary investment horizons or a scheduled exit strategy imposed on institutional funds.

A PARTNERSHIP-FIRST APPROACH Operational Autonomy

TRUST AND TRANSPARENCY Efficient Execution

Regardless of equity ownership percentages, we aim to structure financial partnerships that align our interests with the business, allowing management to maintain significant operational and stra tegic control. More than just a financial partner, we can also provide strategic insight and make valuable introductions to industry experts and service providers.

We strive to keep capital structures simple. From a letter of intent to close, there will be no surprises. Our ability to invest in both debt and equity securities and fully finance a transaction means that business owners and management teams work with only one financial part ner. This reduces cultural and execution risk, expediting the closing process to allow business owners and management teams to focus on what is important the business.

mainstcapital.com| NYSE: MAIN | 1300 Post Oak Boulevard, 8th Floor, Houston, Texas 77056

126

Mangrove Equity Partners is a Tampa, Florida-based, operationally-focused private equity firm that sponsors entrepreneurs and business owners across dozens of industries.

Currently investing from our third captive fund, Mangrove maintains a dedicated full-time team of operating partners who are actively engaged in supporting our portfolio partners. We pride ourselves in our character, experience, ability, and the desire to help our partners prosper.

INVESTMENT CRITERIA We look to partner with owner- and entrepreneur-operated businesses in the United States and Canada with the following criteria in mind:

Industry Focus Industrial Manufacturing Industrial and Business Services Enthusiast-Driven Consumer Products Specialty Rental

Target Company Size EBITDA: $3 - $10M Revenue: $8 - $100M

* will explore smaller businesses for add-on investments

Transaction Types

Recapitalizations Family Succession Recaps Management Buy-Outs & Buy-Ins Industry Consolidations Select Underperformers

HOW WE’RE DIFFERENT MEANINGFUL EXPERIENCE

Mangrove has extensive experience partnering with owners and management teams since 2006, which means we can tackle even the most complex challenges in almost any industry sector.

OPERATIONAL EXPERTISE

Our operating team understands and relates to the unique demands that come with running a lower middle market business. As operators ourselves, we speak the language and find commonality with the owners and management teams with whom we partner.

HONESTY & TRANSPARENCY

Responsiveness, integrity, respect, and partnership have always been the hallmarks of Mangrove. We value trusted relationships with intermediaries and provide quick, honest, and productive feedback.

CLOSING POWER

More than 130 transactions in 60+ industries allows us to easily navigate the transaction process and get deals across the finish line quickly.

320 W. Kennedy Blvd, Suite 300 Tampa, FL 33606

www.MangroveEquity.com (813) 868-4500

127

Marsh McLennan Agency (MMA) is one of the nation’s leading insurance brokerages, providing comprehensive risk management and employee benefit solutions to organizations of all sizes.

Designed to meet the unique needs of growing companies, MMA combines capabilities with caring, global reach with local support, and advanced technology with human connection. Working with MMA, you’ll have access to the global resources of Marsh while working with passionate professionals in your community.

Let MMA take you there Unlimited possibilities come with seemingly unending challenges, but MMA is committed to seeing you thrive. With our in-house resources and world-class service, we can help you overcome the unknown and build a future that is truly limitless.

In-house resources

Proprietary solutions

• Actuarial • Wellness • Compliance • Loss prevention • Claims advocates

• Benefits administration platforms • Employee benefits mobile app • Planning & Analytics for Total Health • Rx Solutions

Services we provide • Business Insurance • Employee Health & Benefits • Executive Benefits • Private Client Services

• Retirement Services • Risk Management • Surety

Learn more

MMA by the numbers

9,000+ Colleagues

128

9th

Largest agency

Sean Mitchell Senior Vice President Employee Health & Benefits Sean.Mitchell@MarshMMA.com

170+ Locations

1,565 Producers

d/b/a in California as Marsh & McLennan Insurance Agency LLC; CA Insurance Lic: 0H18131. Copyright © 2022 Marsh & McLennan Agency LLC. All rights reserved. MarshMMA.com

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

'

@L4/"E41@M-+02&4+-M41'-#$6&'.I"%2&-108I-+02&4+-M60"'-"46&1'I"%2&-108M

4*#,%0,'(#)*$+%,-*#' 5$-+%$6'4*#,%0,/7 ;1@(N1#$&9"'5(!"'".&'.(O&0+4610 ;0"'-"46&1'(>%2&-108(P+02&4+691#$&9"'Q@L4/"E41@ RR=ISTTIUV== 8"$9-0"/7 :-/,*$-0%&';-#%#0-%&'<"9-"= Y( Z#"$&68(13(["0'&'.-( \ZG[](^+/106&'.

Y( B10,&'.(K"/&6"$( >'"$8-&Y( _10@"$&:+%([X`;O>( "%L#-6@+'6;-#%#0-%&'5$*>"0,-*#/ Y( K"-93$1H("'%(^G`( >'"$8-&Y( ^+2&+H(a1'.I;+0@( ?10+4"-6-5(b+8(

>'%0+H(O+'9"@5(KW> X#-&'+-- O+2+$1/@+'6 "%+'9"@Q@L4/"E41@ RR=ISTTIUV==

>--#@/6&1'-5("'%( O+"$(O0&2+0Y( G/6&@"$(6"7(-60#46#0+( "'"$8-&."%&'?"@*,-%,-*#'A'4&*/-#@ Y( W#049"-+(>.0++@+'6( ^+2&+H Y( O+"$(>'"$8-&-("'%( W#049"-+(W0&4+( >%L#-6@+'6Y( _+.16&"6&1'(P#//106( "'%(O&-/#6+( >--&-6"'4+

Y( ^+2&+H("'%( W0+/"0"6&1'(13( K$1-&'.(P6"6+@+'65*/,'4&*/" Y( c"$#"6&1'5(P1$2+'485( "'%(?"&0'+--( G/&'&1'-5("'%(W1-6I K$1-+(P#//106 Y( `'6+.0"6&1'5( G/+0"6&1'-(>%2&-1085( "'%(`@/$+@+'6"6&1'( 13(P60"6+.&4(`'&6&"6&2+Y( [7&6(P60"6+.&+-

129

%-&'.$&, N#$$%&'@B@Q33%,)#1'3 )3 ")!!-' "#2>'1 )&8'31"'&1 *#&> 0'#!T:#21'2'! )& Q1-#&1#= UQ+@H31#*-)30'! #&! -'! *4 #!8)3%23 /)10 ?-%*#- NBQ #&! %<'2#1)&? 'V<'2)'&,'= N#$$%&' <2%8)!'3 ,%"<2'0'&3)8' 12#&3#,1)%& 3'28),'3 5%2 ")!!-'O"#2>'1 ,%"<#&)'3= <2)8#1' 'T:)14 ?2%:<3= )&!)8)!:#-3= #&! <:*-), ,%"<#&)'3 #&! 5%,:3'3 %& ,-)'&13 /)10)& )&!:312)#-= <#,>#?)&?= 1',0&%-%?4= 0'#-10,#2'= ,%&3:"'2 #&! 3<',)#-14 5)&#&,' 3',1%23+

01

E/,3&,'+%03& JKLKK#M#KLKNO

2345

2175

2675 I,/<"0(+&# JKLKK#M#KLKNO

I/0&&PQ0/$"/ JKLKK#M#KLKNO

9"77P9%$" JKLKK#M#KLKNO#

%-&'.%/-!

4F@G9E;4B9

>4@@AB#>C;DBE 6 6

H&1'2<2)3'@I#-:'3J@KLMN@O@KMPPN E2#&3#,1)%&@Q"%:&1J@KRPN@O@KRA

9B;H4IB9 6 6 6

C'--OC)!'@Q!8)3%24@ A:4OC)!'@Q!8)3%24 S'8'2#?'!@F)&#&,'

6

7)8'23)5)'! 9&!:312)#-3

6

;#<'2= ;-#31),3= #&! ;#,> #?)&?@

6

A:)-!)&? ;2%!:,13 B C'28),'3@

6

D'#-10,#2'

6

E',0&%-%?4

6

F)&#&,)#- C'28),'3

6

G%&3:"'2

!"#$%&'(")*'+"), !"#$%$&'()'*+,,"%-

*+./0'1)'2-33

1"%+45+%'6)'75$4-

!"#"$%#$&'%()*+,( !"#$$%&'("#$$%&')*+,%"

!"#"$%#$&'%()*+,( "*'--("#$$%&')*+,%"

!"#"$%#$&'%()*+,( ./0)1'("#$$%&')*+,%"

!.84$%'9)':+#8-0'

1)';4.+/4';+%<"/=

!.84$%':)'!+>8"%

'%()*+,( !2#"3'4("#$$%&')*+,%"

'%()*+,( 33#&5%2!("#$$%&')*+,%"

-%*)&.()/%0)#+ !!#/3%&("#$$%&')*+,%"

!" $%&'(&& )"* +,)",-,*& ./01 $""2"/ ,/",& 0. .0'(& %3 0(/ 43$(&+/* 43&%56+& 3"-&7"++"/&8# 9',3 +6" :; '0$" 0/# <%&%+# !"##$%&'()*$!+,-(,*.'(& +0 =0%3 0(/#1,%7%35#7%&+ ,3$ /"'"%<" +6"&" %3$(&+/* 3"-&7"++"/& ,3$ 0+6"/ >,??03" .%/1 (2$,+"&8

130

1330 Avenue of the Americas, 36th Floor New York, NY 10019 (212) 651-4615 │ www.mfgpartners.com

MFG Partners (“MFG”) is a private equity firm that makes control investments in founder and family-owned industrial businesses in the lower-middle market. We invest in businesses with sustainable competitive advantages and untapped growth potential in their respective industries.

Our Firm

MFG teams with existing ownership and management by investing $10 million to $75 million of equity in their businesses and providing strategic and operational support to companies across North America. We work with company founders, owners, and management teams to identify growth opportunities and maximize return on invested capital.

Led by Jeff Mizrahi & Jonathan Schilowitz, the MFG team has identified unique investment opportunities, successfully executed principal investments, and managed highly profitable exits. As an independent sponsor, MFG completed 8 platform investments and 15 add on-investments to date. Due to MFG’s tremendous success, we raised our first institutional committed fund in May 2024 with $300 million in total commitments.

Targeted Sectors

Investment Focus

■

■

■ ■

Industrial Services ■ Infrastructure, Utility, Environmental, Field, Facility, MRO, and Commercial ■ Contracting & Construction Value-Added Distribution ■ Industrial products Manufacturing ■ Highly engineered products

Current Portfolio

■

■

Fund Size ■ $300 million Financial Criteria ■ Family and Founder-Owned Businesses ■ Revenue range: $10 - $300 million ■ EBITDA range: $5 - $30 million Transaction Types ■ Control Buyouts ■ Recapitalizations ■ Add-ons

Headquartered in Des Moines, Iowa, MCG provides omnichannel business services, including outsourced mail presorting, printing, lettershop, and digital communications to companies throughout the United States Headquartered in Closter, New Jersey, Elgen engineers, manufactures and markets HVAC ductwork components used primarily in commercial construction and renovation Headquartered in Warfordsburg, Pennsylvania, Mellott provides a full spectrum of aggregates processing and equipment distribution, as well as systems engineering and equipment application services Headquartered in Northbrook, Illinois, A-Z Wire and Cable is a leading distributor of wire and cable products for electrical distributors, original equipment manufacturers (“OEMs”), and other end-users across the United States Headquartered in Columbus, Ohio, CST is an infrastructure service company providing a range of excavation, underground and maintenance services to public utilities (electric, natural gas, water), telecom providers, and other businesses

Realized Investments

Storage Solutions is a leading warehouse integrator that provides solutions for material handling and industrial storage equipment, including design, equipment procurement, and installation. Completed two add-on acquisitions during ownership LCR Contractors is one of the largest spray fireproofing and spray applied thermal insulation subcontractors in the United States. Completed two add-on acquisitions during ownership Alliance Environmental is a leading provider of asbestos and lead abatement, mold remediation, and through its subsidiaries, AirTek and Coast, indoor air quality services such as duct cleaning and HVAC maintenance.

Completed four add-on acquisitions during ownership.

Jeff Mizrahi | Partner 212.651.4616 │ jeff@mfgpartners.com

Jonathan Schilowitz | Partner 212.651.4617 │ jonathan@mfgpartners.com

Ryan Richardson | Vice President 707.738.4255 | ryan@mfgpartners.com

131

REALIZED

CURRENT INVESTMENTS

INVESTMENT CRITERIA

EXPERIENCED OPERATORS INVESTING IN THE MIDDLE MARKET

TARGET MARKET

Geography: Global exposure with North American or European HQ Sectors: B2B Industrials, Manufacturing, and Specialty Distribution Special Thesis Areas: Mobility Infrastructure Industry 4.0 Exclusions: >25% exposure to Big Box Retail Turnarounds

Good business: End market growth Historical growth at/above market Market leading player Strong FCF conversion Operationally underperforming peers/ benchmarks Definable Value Creation Plan prior to close

DEAL SIZE

Equity Investment: $20M to $350M EBITDA: $15M to $100M Revenue: >$75M Transaction Size: Up to $500M

Machine Vision Munich, Germany Revenue: ~€135M Fund(s): Fund III Acquired: Nov 2024

Electric Drive Systems Manufacturer Milton Keynes, UK Fund(s): Fund II / MOF Acquired: July 2024

Precision-Focused Tools Manufacturer Athol, MA Revenue: ~$256M Fund(s): Fund III Acquired: May 2024

Advanced Manufacturing Buy & Build Quebec City, QC Revenue: ~$13M Fund(s): Fund II Acquired: Jan 2023

Worker Safety & Access Solutions Andrews, SC Revenue: ~$150M Fund(s): Fund II Acquired: Nov 2022

Bicycle Parts & Accessories Distribution Quebec City, QC Revenue: ~CAD $170M Fund(s): Fund II Acquired Sep 2022

Automotive Exterior Trim Oldcastle, ON Revenue: ~$750M Fund(s): Fund I / MOF Acquired: Oct 2021

Garage Door Components Archbold, OH Revenue: ~$250M Fund(s): Fund I Acquired: Sept 2021

Metal Processing & Distribution Carol Stream, IL Revenue: ~$300M Fund(s): Fund I Acquired: Dec 2019 Realized: Nov 2023

Metal Springs Manufacturer Southfield, MI Revenue: ~$110M Fund(s): Fund I Acquired: April 2019 Realized: Sept 2023

For NA transaction opportunities, please email DYANA BAURLEY at dbaurley@middleground.com *Revenue based on LTM at time of acquisition

132

CHARACTERISTICS

Steel Infrastructure Manufacturer Kosciusko, MS Revenue: ~$140M Fund(s): Fund I Acquired: Dec 2020

FUNDS

Fund I: Flagship Fund II: Flagship MOF: Overage vehicle investing in EV, lightweighting, autonomous, and connected car technologies Fund III: Flagship

Additional Co-Invest on every deal ($1B+ to date) AUM: $3.7B

Engineering Services Valencia, Spain Fund(s): Fund II / MOF Acquired: Mar 2024

Metal Processing & Distribution Carol Stream, IL Revenue: $1B Fund(s): MiddleGround Carbon CV Acquired: Nov 2023

Automotive Transmission Thatcham, UK Revenue: ~£82M Fund(s): Fund II / MOF Acquired: July 2023

Thermoplastic, Thermoset Injection Molding Hopkins, MN Revenue: ~$80M Fund(s): Fund I / MOF Acquired: Feb 2023

Flow Control Distributor Baton Rouge, LA Revenue: ~$500M Fund(s): Fund II Acquired: July 2022

Powersports Aftermarket Mentor, OH Revenue: ~$325M Fund(s): Fund II Acquired: Nov 2021

Precast Concrete Manufacturer Canal Fulton, OH Revenue: ~$125M Fund(s): Fund II Acquired: Nov 2021

Mechanical Control Systems - Automotive Ann Arbor, MI Fund(s): Fund II / MOF Acquired: Nov 2021

Lightweight Auto Technologies & Auto Electrification Valley City, OH Revenue: ~$1.2B Fund(s): Fund I / MOF I Acquired: Nov 2020

Steel Metal Fabricator Hartford, WI Revenue: ~$150M Fund(s): Fund I Acquired: May 2019

Precision Metal Components Elyria, OH Revenue: ~$220M Fund(s): Fund I Acquired: July 2018

For EU transaction opportunities, please email ANTHONY DENAIX at adenaix@middleground.com

AMSTERDAM, NL

Gustav Mahlerplein 59 1082 MS Amsterdam

LEXINGTON, KY (HQ)

1500 Aristides Blvd Lexington, KY 40511

NEW YORK, NY

10 Crosby Street, 4th FL New York, NY 10013

!"#$%&'()*'+$,-'$.'-/(0$

!"#$%&'()*%"+'(#"),+-.$'&#*)%/"+0(/)12#3&42#).$"%'#"*/&.*5

!"#$%

&#'()

●

678)&*)$)-./0)1+#--02( &'9#*%+"):&%/)+9#");<)=#$"*)+1) ,+-4&'#>)#3.#"&#',#5)3(+045(6%+#$7+#84+(9$0%1:+ 80%;+4#+046%0%$%0#4.)+#7+#$%60'(+2.<0%.)=

●

678)+11#"*)$)*%"+'(),+-4&'$%&+')+1)-./0)1+2.<0%.)++ $'>)).7>(?62.)(+<705.%(+(9$0%1+#3.#"%&*#)$'>)) "#*+0",#*5

●

●

3(+.2%05()1+<.7%4(7+:&%/)40*&'#**)) +:'#"*)$'>)2#$>&'()-$'$(#-#'%)) %#$-*)%#+2$)%05.%(+>7#8%;++1)'&,/#)) &'>0*%"=).2$=#"*)$'>),"#$%#)*%"+'(#")) ,+-.$'&#*)%/$%)4#,+-#)) "#(&+'$2H'$%&+'$2)2#$>#"*5

*+,+!

?* $ -./0)1 #--02(: :# $"# '+% *04@#,% %+ %/# "#*%"&,%&+'* +1 &'*%&%0%&+'$2 ."&9$%# #A0&%=B :# $"# 12#3&42# +' *%"0,%0"# $'> %&-# /+"&C+'B *+ :# 1&'> %/# 4#*% *+20%&+' 0%&2&C&'( $ %$&2+"#> $.."+$,/ 1+" #$,/ &'9#*%-#'%5 D#)$"#)$)%(./+#- @A &'9#*%-#'% ."+1#**&+'$2*B) /#$>A0$"%#"#>)&'))6&$-&B)EF):&%/)$')+11&,#)&')G$'$-$) !&%=B)G$'$-$5

●

I$,J#>)4=)1$-&2&#*B).+:#"#>)4=)) ."+1#**&+'$2)&'9#*%+"*5

●

E2#3&42#B)*%"$&(/%1+":$">)$'>)*0..+"%&9#)) .$"%'#"*5

●

G"&+"&%&C#).#+.2#B),02%0"#)$'>)9$20#*5

B45(6%/(4%+C70%(70.

D7.46.2%0#4+D1<(6 ● !+'%"+2)40=+0%* ● K&('&1&,$'%)-&'+"&%=).$"%'#"*/&.* ● !$"9#+0%*

G()(2%+I$.)0%.%05(+C70%(70. ● E$-&2=)H)#'%"#."#'#0")+:'#>)40*&'#**#* ● O+220.)+..+"%0'&%&#*)&')1"$(-#'%#>) -$"J#%* ● G$"%'#"*/&.*):&%/)2#$>&'() -$'$(#-#'%)%#$-* ● !+'*&*%#'%)"#9#'0#)("+:%/ ● K0*%$&'$42#),+-.#%&%&9#)$>9$'%$(#* ● P&9#"*&1&#>),0*%+-#")4$*#

D.7>(%++EFBD*!

LM)%+)LN<)-&22&+'

J#2.%0#46 Q+"%/)?-#"&,$

D7.46.2%0#4+G0H( LN<)%+)LN<<)-&22&+' B4'$6%70(6

C#46$/(7+ G(7502(6

L(.)%;2.7(+ G(7502(6

&KL+ B45(6%/(4%6

G(2%#76+#-+B4%(7(6%

8+-#R4$*#>)*#"9&,#*)S#5(5 "++1&'(B) :$%#"."++1&'(B)#%,5TB)-02%&R0'&%) ,+',#.%*B) $1%#"-$"J#%)$0%+B)#>0,$%&+')$'>)%"$&'&'(B)#%,5

!"#$%&'#()

4#/$9&+"$2)/#$2%/)S?I?B) G8GHW\GB)-#'%$2)/#$2%/TB) >&*%"&40%&+'B)9#%#"&'$"=)*#"9&,#*B)WK\*B)*#2#,%)GG6) *#(-#'%*B))#%,5

Q+'R>&*,"#%&+'$"=)])"#,0""&'()*#"9&,#*)1+")%/#)40&2%) C#//(720.)+O+ #'9&"+'-#'%^) )%#*%R&'*.#,%&+'R,#"%&1&,$%&+'R N.20)0%1++ ,+-.2&$',#)SXW!!TB) *J&22#>)])*#-&R*J&22#>)%"$>#*B) G(7502(6 &'1"$*%"0,%0"#)])0%&2&%=B)#'9&"+'-#'%$2B) :$%#"H:$*%#:$%#"B)*.#,&$2%=)>&*%"&40%&+'B)#%,5

RBCL+PR!SE3GKB

8#$>)+1)I0*&'#**)P#9#2+.-#'% SMb`T)cYb)Yb_[ "("$@#:*J&a-J/.$"%'#"*5,+-

!"#$%&'#()

*(6270<%0#4

F$1+.4'+ F$0)'M

N#$4'(7+ D7.46.2%0#4+ D1<( D7.460%0#4

U3."#**),$"):$*/).2$%1+"-)*+2>)&') M<MNV)$,/&#9#>)N<3)UIWXP?)("+:%/) $'>),+-.2#%#>)Y)$,A0&*&%&+'*

!+'%"+2

602%&R0'&%)1"$',/&*##)+1)U0"+.#$')) D$3)!#'%#"V)("#:)*%+"#),+0'%) Z[5<3)$'>),2+*#>);)$,A0&*&%&+'*

!+'%"+2

6$'$(#-#'%)K#"9&,#*) \"($'&C$%&+')1+,0*#>)+')%/#) 1#"%&2&%=)&'>0*%"=5)K+2>)&')M<M[5

!+'%"+2

K#,0"&%=)*#"9&,#*)."+9&>#" S-&'+"&%=),+R&'9#*%-#'%T

6&'+"&%=

&BPQEJ+LER!G

6$'$(&'()G$"%'#")) SM_YT)_<`);[<; -/#"$*a-J/.$"%'#"*5,+-

*.4+&##7(

G"&',&.$2)))))))))))))))) SY<`T)bb_)c[[c >-++"#a-J/.$"%'#"*5,+-

133

BUY & SELL SIDE TRANSACTION ADVISORY As a result of over 40 years of experience consulting with stakeholders in transaction environments, we are uniquely positioned to successfully advise our clients undertaking acquisition or divestiture activities. Our experienced professionals routinely provide expert financial and tax diligence designed to identify and evaluate value propositions in business combinations while minimizing the risk and exposure to our clients. Our approach emphasizes proactive communication, responsiveness and high levels of Partner participation throughout the entire transaction life cycle. We work closely with financial and strategic buyers to provide customized services tailored to identify opportunities and issues within the proposed transaction.

TEAM LEADERS

OUR PERSPECTIVE

Christopher D. Fagan

We consider ourselves an extension of our clients team and provide them with

Partner and Transaction Advisory Practice Area Leader

expertise necessary to fully understand the risks and opportunities in the proposed transaction. Accordingly, we strive to be as transparent as possible as we develop

Jason Birmingham Partner

needs with frequent communications regarding findings, issues and observations

John Makuch Partner Jonathan Levens Partner Reena Booker Director Patrick Hutchinson Senior Manager Jon Powell Partner and Cybersecurity Leader

our tailored agreed upon services and perform those services to meet our clients throughout the engagement.

OUR TRANSACTION LIFE CYCLE SERVICES Our client centered, tailored approach to transaction advisory is based on experience, expertise and the knowledge that every transaction and every client has unique needs. Our experienced team is available to assist you throughout the entire transaction life cycle.

PRE-DEAL STRATEGY AND ASSESSMENT Financial modeling and projections Transaction and tax structuring Letter of intent advising

ACQUISITION TARGET EVALUATION Historical financial statement analysis Quality of earnings and net assets assessment

One of Atlanta s largest accounting firms, Moore Colson has over 40 years of experience working with closely held

Off balance sheet risk assessment Accounting systems and controls assessment Management and financial personnel assessment Tax compliance and exposure assessment Information technology assessment

businesses, private equity

Transitional risk assessment

groups (PEG and PEG owned

Asset based borrowing capacity assessment

businesses), and publicly traded businesses in Atlanta and throughout the country. We build long term relationships to fully understand our clients needs, which in turn provides unique solutions to maximize profits, lower taxes, and create financial security.

DEAL STRUCTURE AND EXECUTION Deal structure and negotiation assistance Purchase agreement review Purchase price adjustment/settlement analysis Transitional service agreement review Transition/Integration planning

POST-TRANSACTION INTEGRATION Purchase price settlement assistance Purchase price allocation assistance Purchase accounting assistance Opening balance sheet validation Transition assistance !"#$%$&"'(&)*'! +&&)*,&-%&".,&+

134

A Different Approach For Founder-Owned Businesses newheritagecapital.com

B U I L D I N G S U C C E S S F U L PA R T N E R S H I P S Investing Private Equity in Founder-Led Businesses

The Private IPO ® Our innovative deal structure gives more control and more incentive equity to founders.

The Private IPO ® rewards owners that want to reinvest and grow their businesses.

80

51

%

Liquidit y

Significant liquidity for shareholders – diversify net worth and/or cash out inactive shareholders

50

%

C o n t ro l

Rollover shareholders retain board control subject to certain approval rights, liquidity right and protective right

%

Ownership

Earn up to 50% of common equity value – significantly more incentive equity than a traditional buyout

Flexible Capital We provide creative and flexible capital – investing majority or minority equity in full recapitalizations or growth equity structures.

Where We Invest

Business Services

P r i v a te IP O® Example

Healthcare

Manufacturing

Base Case

Upside Case

Million EBITDA for New Platform Companies

67%

50%

Million Equity Checks

33%

COMPANY SIZE

$4 - $30+

Economics at Exit *

Total Debt $40MM

NHC Preferred $20MM NHC Common $20MM

INVESTMENT SIZE

$15 - $50+

Enterprise Value $100MM

50%

25% incentive option pool

Owner Common $20MM

*Common equity ownership at exit after repayment of debt and NHC preferred.

N E W H E RI TA G E C A PI TA L Prudential Tower, 800 Boylston Street, Suite 2200, Boston, MA 02199

P 617.439.0688 F 617.439.0689 newheritagecapital.com

135

BUILDING DYNAMIC COMPANIES THROUGH PARTNERSHIP AND INVE STMENT

HIG HLIGH TS

1 2 3

C URRE NT FOCU S ARE AS

Fou nded in 2 01 3, we’v e gro wn into a di ve rs e te am of 3 0+ dr ive n pr ofes si onal s, fue le d by an e ntre pre neu ria l s piri t a nd a com mi tm en t to tra nsp ar ent e xe cutio n.

COMMERCIAL & INDU STRIAL SERVICES Kurt Lentz klentz@newstatecp.com

With 4 0+ s ucc es s fu l a cqui sitio ns to da te, we ’re e xpe ri enc ed in s ei zi ng op por tu nitie s a nd deli ve rin g r es ults.

EDU CATION & TRAINING Adam McDowell amcdowell@newstatecp.com

Our fle xibl e i nve stm ent a ppr oa ch a llows us to inv e st in a ny s truc tur e—whe ther it’s full con tr ol, min ority s ta ke s, or uniqu e s pe cia l s ituatio ns, we ada pt to w hat wor ks be st.

FACILITY SERVICES Shaun Vasavada svasavada@newstatecp.com INFRASTRUC TUR E SE RVICE S Daniel Han dhan@newstate cp.com

INVE STME NT CRI TER IA EBI TDA

EQU ITY

$8-40M

$10-100M

TR ANSA CTIO N VALU E

$25-250M

INDUS TRIE S

IT SERVICES

Parashar Ranade pranade @newstatecp.com PR OFESSIONAL SERVICES Will Swayne wswayne@newstatecp.com TECH-EN ABLED SE RVICES John Beauclair jbeaucl air@ne wstatecp.com

BUS I NES S S ERVI CE S

CONTACT US

136

I ND USTR IAL S ERVI CES

S PECI AL S TRATE G IE S

J ohn K im Sen ior Prin cip al (64 6 ) 88 5-7 48 5 jk im @ne ws ta tec p.c om

Ge off C oar

Pr inc ipa l, Bus ine ss Devel op m en t

(94 9) 4 00 -3 36 6 gc oar @n ews tatec p.c om

N ew R oc hell e, N Y N ewpo rt B ea ch, CA 2 12 .67 5.1 60 0 www .new state cp. com

137

Northcreek Mezzanine is a Cincinnati, OH based SBIC formed primarily to originate mezzanine debt and equity investments for dynamic lower middle-market companies across a wide variety of industries.

Investment Strategy and Philosophy Northcreek is currently investing out of Fund IV, a 2024 vintage-year fund. Our investment strategy focuses on originating and making mezzanine debt and equity investments in both sponsored and non-sponsored lower middle-market companies across the U.S. Northcreek is a proven and reliable financial partner having invested in 80+ companies since its founding in 2010. Northcreek is fully committed to partnering with financial sponsors, independent sponsors, search fund sponsors and directly with private companies to provide highly customized financial solutions.

Northcreek professionals have deep expertise in the credit markets having invested in hundreds of lower middle market companies throughout their careers providing senior, mezzanine debt and equity. Our strength lies in the experience of our investment team and our flexibility to provide highly customized financial solutions. Our competitive edge is our track record of working closely with our partners to execute and close transactions quickly and efficiently and our reputation for being quick to action, fair, thoughtful, interested, and patient throughout the underwriting and investment period.

Investment Criteria Generally, non-control mezzanine debt and equity co-investments in the United States that fit the following parameters: • • • • •

Revenue: At least $5.0 Million EBITDA: At least $1.0 Million Industries: No industry focus or bias Investment Size: $1.0 - $12.0 Million (Avg. $7.0MM) Time to Maturity: 3 – 5 Years

• •

Purpose: Acquisitions, Growth, Recapitalizations, Refinancings, Market/Product Expansion Company Characteristics: Strong management, diversified revenues, history of profitability, acquisition or organic growth opportunities

Investment Professionals

Rodger Davis Managing Director C: 513-520-4930 rdavis@northcreekmezzanine.com

Barry Peterson Managing Director C: 513-703-1551 bpeterson@northcreekmezzanine.com

Adam Gates Partner C: 513-225-1430 agates@northcreekmezzanine.com

Tom Baker Senior Vice President C: 513-403-9995 tbaker@northcreekmezzanine.com

Ken Mai, CPA Vice President Finance C: 513-518-1186 kmai@northcreekmezzanine.com

Brian Baird Vice President C: 513-218-6880 bbaird@northcreekmezzanine.com

Nic Ruscello Vice President C: 937-902-5732 nruscello@northcreekmezzanine.com

Brendan O’Brien, CPA Associate C: 513-520-0407 bobrien@northcreekmezzanine.com

7755 Montgomery Road, Suite 310 ∙ Cincinnati, Ohio 45236

Main (513) 403-9995 ∙ Fax (513) 985-6603 ∙ www.northcreekmezzanine.com

138

NORTHMARQ SALELEASEBACK ADVISORY Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in investment sales, debt, equity, loan servicing and fund management on all asset classes. We are the largest privately owned commercial real estate capital markets firm in the U.S. with more than 40 offices and more than1,000 employees.

75B+

60+

$

INVESTMENT SALES TRANSACTION VOLUME

YEARS OF EXPERIENCE

SALELEASEBACK CONSIDERATIONS The sale-leaseback (SLB) strategy has become a highly sought-after tool for business owners, private equity firms, and M&A advisors as a means to maximize value and take advantage of arbitrage by monetizing corporate real estate assets within existing operating companies and potential acquisition targets.

The M&A process can often include the business and company owned real estate. Financial sponsors, business owners, and M&A advisors turn to Northmarq to provide optionality and maximize real estate proceeds.

Northmarq is also engaged in capital raise and restructuring assignments when there is an opportunity to leverage a sale-leaseback as an alternative source of capital.

Why Should a Financial Sponsor Execute a Saleleaseback?

Higher and better use of capital Multiple arbitrage for value creation Balance sheet optimization Attractive financing alternative

Use of Sale-leaseback Proceeds Fueling growth & funding acquisitions Expanding footprint Buying equipment Dividend recap to sponsor

Benefits for M&A Transactions Accretive acquisition financing Reduce equity check for acquisition Bridge a valuation gap Provide holistic liquidity solution for seller Lower effective acquisition multiple

SERVICE OFFERINGS Our team provides the full suite of corporate real estate advisory solutions for investment banking partners, private equity firms and financial sponsors. We operate across the United States in all major real estate asset classes including industrial, retail, healthcare, medical, office, land, and specialized assets. We generate and deliver value for our clients as it relates to the real estate assets of operating businesses and acquisition targets in live M&A transactions.

Complimentary Real Estate Valuations

Tenant Lease Structuring

SLB Advisory in Capital Raise Assignments

Market Rent Analysis and Research

SLB Advisory in M&A Transactions

Build to Suit Financing for Companies Expanding

CONTACT INFO:

Anthony Cohen

Vice President acohen@northmarq.com (310) 456-4853

Greg Paparis

Senior Associate gpaparis@northmarq.com (203) 803-8748

139

!"#$%&'("&#)*'+#,-.(/"&0#%(/#1%(%2"1"('# '"%10#'-#+"3$#4.0*("00"0#&"%3*5"#'+"*&#,.33#$-'"('*%3 !+A#>-&)"0'K

@%&2"'#0"9'-&0

!"#%&"#*(#'+"#4.0*("00#-,#$%&'("&0+*$0<#(-'#9-('&-3:#!"#)-&=# 9-33%4-&%'*7"3A#)*'+#,-.(/"&0#%(/#1%(%2"1"('#'"%10#*(0'"%/# -,#1*9&-1%(%2*(2:

8-(0.1"&#L&%(/0 ?&%(9+*0-&0

!"#$&-7*/"#&*0=#/*7"&0*,*9%'*-(#%(/#2&-)'+#%99"3"&%'*-(#7*%# 9%$*'%3#%(/#7%3."B%//"/#&"0-.&9"0:

D/.9%'*-(#H#@&%*(*(2

6(7"0'1"('#8&*'"&*%

L.0*("00#I"&7*9"0

M"0*/"('*%3#I"&7*9"0

6(/.0'&*%3#I"&7*9"0

!"#$%&'()# *+,-&. *+,,-

N2&*4.0*("00

/012#3&4156(7# 8*9,-&1#:#;<#=&>156(30?7@&215A(;2 B;:#C3-#;3&'31<$3<1# D(;51(3@&51&-0E51(3@ !<11#;3&F<;G *HI,&J(77(5;

@"0'*1-(*%30 !"#$%&"'$%"%(%")'*+&#)(',

012&3*+(.&4#)5%6&"'&7&8.*#$

,:+&,"4"%&$*;.&$%)#.&$*+.$&4#)5%6&

We’ve built a profitable business...

We weren’t in a position where we (""/"/#9%$*'%3:#;-)"7"&<#)"#,""3#3*="# >-&)"0'#9%(#$%&'("&#%(/#+"3$#2.*/"# .0#'+&-.2+#'+"#2&-)'+#'+%'#3*"0#%+"%/:

6#,""3#43"00"/#"7"&A#/%A#'+%'#)"# ,-.(/#>-&)"0':

!*'+#'+"#%//*'*-(#-,#>-&)"0'<#)"#,""3# 3*="#'+"&"#*0#(-#1-.('%*(#'--#4*2:

-).&/(,+* ?-.(/"&

/.',#*&$9)%% ?-.(/"&

;"/.&*',#.*996" 8-B?-.(/"&#C#8DE

F&-)'+#G&-/.9'0#H#I"&7*9"0#B F&-)'+#DJ.*'A <<<=>?@=ABC

140

!"#$%&'#(!$)&%$*(+,"(-",.%/(!,0)$1&#2 !"#$% '%()#%* !%$#+"$, ), % ($)-%#" "./)#0 1)$2 "+3%3"4 )+ ($5-)4)+3 3$56#7 8%()#%* 15$ 852(%+)", *58%#"4 #7$5/375/# #7" 9+)#"4 :#%#",;& & </$ )+-",#2"+# #"%2 7%, %+ ",#%=*),7"4 $"85$4 51 ,/88",, ,(%++)+3 5-"$ >?

0"%$, %+4 4"(*50)+3 25$" #7%+ @ABB 2)**)5+ 51 8%()#%* )+-",#"4 )+#5 25$" #7%+ CBB 852(%+)",;& & & D" %$" ,""E)+3 )+-",#2"+#, 15$ 5/$ +"6 :FG' 1/+4H !"#$% I$56#7 J/+4 GK;& & D" 8%+ )+-",# /( #5 @>B 2)**)5+ ("$ 852(%+0 )+ "./)#0 5$ 4"=# ,"8/$)#)",;

-'."%.,&/+")-(01%

*/".",/.2)34.'.,&1'/%&/,%

• • • • •

• • • • •

I$56#7&8%()#%* W"8%()#%*)V%#)5+, F/05/#, N8./),)#)5+&1)+%+8)+3 !*%#15$2&=/0&%+4&=/)*4

@CB&2)**)5+&5$&3$"%#"$&)+&$"-"+/" @C&2)**)5+&5$&3$"%#"$&51&XFGPUN @C?&Y @Q?&2)**)5+&"+#"$($),"&-%*/" Z"%*#78%$"&5$&F>F&,"$-)8", @?&#5&@>B&2)**)5+&)+)#)%*&87"8E&,)V"

*215/621)3.0/&.2)7+2$&/+"% • \)+5$)#0&X./)#0

• :/=5$4)+%#"4&U"=#

• '5+#$5*&X./)#0

!"#$%&'()*+,$%

F/,)+",,&:"$-)8", • F/,)+",,&($58",,&5/#,5/$8)+3 • </#,5/$8"4&ZWH&$"3/*%#5$0&[& *"3%*&,"$-)8", • \%+%3"4&1)"*4&,"$-)8", • G+,/$%+8"&$"*%#"4&,"$-)8", • P7)$4&(%$#0&2%)+#"+%+8"&[& ,/((5$# • J%8)*)#0&2%)+#"+%+8"&,"$-)8", • P",#)+3H&)+,("8#)5+&[& 852(*)%+8"&,"$-)8", U5/3&<6"+ !%$#+"$ -.+/#$%&'('#)%'*"(+,

Z"%*#78%$" • • • • • • • •

P"87+5*530YX+%=*"4&:"$-)8", • • • • • •

Z"%*#78%$"&,"$-)8", Z"%*#78%$"&GP Z"%*#78%$"&($5-)4"$, Z52"&7"%*#7&,"$-)8", G+1/,)5+&,"$-)8", !7%$2%8"/#)8%*&,"$-)8", F"7%-)5$%*&7"%*#7 K%*/"&=%,"4&8%$"

\%+%3"4&GP&[&,"8/$)#0&,"$-)8", G<P '0="$&,"8/$)#0 N((*)8%#)5+&,51#6%$" N/#52%#)5+&,5*/#)5+, W"3/*%#5$0&[&852(*)%+8"& ,5*/#)5+, • G+#"**)3"+8"H&%+%*0#)8,&[& ="+872%$E)+3&,5*/#)5+,

U%-)4&J)#V3"$%*4 !%$#+"$ -0/#$%&'('#)%'*"(+,

'%$#"$&<6"+ U)$"8#5$&51&F/,)+",,&U"-"*5(2"+# (1+/#$%&'('#)%'*"(+,

LM>?&F"415$4&N-";H&:/)#"&>BLH&O%,7-)**"H&PO&LQ>C? !75+"R&SC?;LCL;?AAA&&J%TR&SC?;LCL;?AAB !!!"#$%&'('#)%'*"(+,

141

FINANCING OVERVIEW

LEVERAGE FINANCE BUSINESS PROFILE

CAPITAL OPTIONS

•

Middle-market focus with minimum EBITDA of $8 million

•

Generalist sector approach, including business services, consumer products and services, specialty finance, distribution and logistics, food and beverage, packaging, manufacturing & industrials, and energy

We can provide capital across the balance sheet, including appetite in one or more of the following tranches for a seamless, flexible, “one-stop” financing solution:

•

Businesses in North America, Europe, Australia, & Latin America

TRANSACTION TYPES •

MBO & LBO

•

Recapitalizations & shareholder buyouts

•

Growth & acquisition financing

•

Refinancing

•

Dividend & equity distribution

•

Heavy Equipment or Vessel Financing (Senior Debt)

First Lien Senior Debt

•

Second Lien Senior Debt

•

Subordinated Debt

•

Preferred / Structured Equity

•

Common Equity Co-invest

$12.3 billion direct lending senior originations since 2000 and $7.5 billion subordinated debt and equity originations since 1995 as of 9/30/24.

SENIOR DEBT

JUNIOR CAPITAL

•

First lien or second lien

•

Subordinated debt

•

Revolvers and term loans

•

Preferred / Structured equity

•

Cash flow and asset-based lending

•

Common equity co-invest

•

Committed delayed-draw term loans

•

Accordion and follow-on capital

•

Target hold size $10-100 million; Ability to arrange larger transactions in-house (up to $250 million)

•

Target hold size $10-150 million (up to $250 million w/ LP co-investors)

•

4-7 year maturity and flexible amortization structure

•

6-7 year maturity; no amortization

PGIM Private Capital is a global private capital provider, investing in private debt and equity for nearly 100 years. We manage a portfolio of $108.5 billion across more than 1,300 portfolio company relationships (as of 9/30/24) and have a significant appetite to provide capital to leading middle-market companies worldwide.

financing.pgimprivatecapital.com +1 (404) 870-3741

142

•

DIFFERENTIATED APPROACH •

Sponsored or non-sponsored transactions

•

Patient capital with a relationship-based approach

•

Multi-currency capabilities; cross-border financing experience with local market knowledge

•

Committed capital through market cycles

Ben Turnipseed 1075 Peachtree Street NE, Suite Mark 3600 Viglotti Senior Principal Principal Atlanta, GA 30309 +1 (404) 870-3757 +1 (404) 704-3810

Roswyn Asher Senior Associate +1 (404) 916-6754

Year Founded: 1895 NYSE: PIPR Headquarters: Minneapolis, MN CEO: Chad Abraham President: Deb Schoneman Employees: 1,800

!"#$%&'(#'"() As a leading investment bank, we enable growth and success for our clients through deep sector expertise, candid advice and a differentiated, highly productive culture. We transcend transactions to define possibilities enabling clients to achieve their short term goals while realizing their long term vision. Founded in 1895, the firm is headquartered in Minneapolis with offices across the United States and in London, Aberdeen, Munich and Hong Kong.

Offices: 60+

Learn more at pipersandler.com

INVESTMENT BANKING

PUBLIC FINANCE

PIPER SANDLER FINANCE, LLC

Our investment banking group partners with corporate clients and financial sponsors to provide advisory and financing services related to mergers and acquisitions, equity and debt capital markets, private placements, private capital advisory, GP advisory, restructuring and corporate & venture services.

In the negotiated and private placement market, we have a longstanding reputation as a leader in the municipal bond issuance industry1 Supported by a broad national platform, our expert teams leverage localized knowledge to facilitate the issuance of tax exempt and taxable debt across a range of sectors and services:

Our wholly owned lending subsidiary that provides committed debt facilities for middle market clients based in North America. Piper Sandler Finance has been backed with $1.0 billion of equity commitments and can underwrite loans of up to $300 million.

We offer in depth knowledge and industry relationships in our core sectors:

Our Sectors

! ! ! ! ! ! !

Chemicals Consumer Energy & power Financial services Healthcare Services & industrials Technology

EQUITY SALES & TRADING In equities, our sales & trading teams facilitate public offerings in our core sectors and deliver decades of experience and product expertise to identify unique liquidity and provide best execution.

We are a market maker and transact in 2,500 securities, offering traditional, algorithmic and program trading approaches.

EQUITY & MACRO RESEARCH Equity Research Piper Sandler research analysts are regularly recognized by Greenwich Associates, Institutional Investor and Thomson Reuters Starmine Awards.

Our 60+ senior analysts produce industry leading, deep sector research on more than 1,000 stocks under coverage, including the largest small/mid cap coverage on Wall Street. Our investor conferences and roadshows provide access to management teams from leading companies.

Macro Research Our research teams, annually recognized by Institutional Investor, develop and connect macro insights from around the world, delivering an impartial comprehensive overview of important global trends and help identify macro inflection points.

! ! ! ! ! !

State & local government K 12 education Special districts Housing Healthcare Project finance

ALTERNATIVE ASSET MANAGEMENT ! ! ! ! ! !

Hospitality Senior living Charter schools Higher education Transportation Non profits

Our Services ! ! ! ! !

Municipal bond underwriting Private placements Financial advisory Variable rate remarketing & underwriting Municipal derivatives and reinvestment products

1 Ranked in the top 3 based on number of negotiated and private placement senior/sole long term transactions, and ranked in the top 10 based on par value for each of the last 7 years; Source: Refinitiv

FIXED INCOME SALES & TRADING Our fixed income sales and trading team provides the full array of taxable and tax exempt investment solutions with multi product trading desks across a 50 state distribution network. Clients gain access to a diverse range of expertise and product knowledge from the Piper Sandler national team of 230+ sales, trading and analytics professionals. Additionally, the fixed income platform is closely integrated with investment banking and public finance groups providing insight on significant new issue product.

Our alternative asset management teams offer an array of investment products.

Merchant Banking Growth Equity Funds Piper Sandler Merchant Banking seeks investments in private, commercial stage businesses with strong growth prospects within the industry sectors covered by Piper Sandler equity research and investment banking resources. Our portfolio companies have a defined path to liquidity within a time horizon of five years.

Healthcare Funds Piper Heartland Healthcare Capital, LLC aligns the knowledge, expertise and capital of Piper Sandler with the interests of our limited partnership investors and with innovative healthcare companies at key moments in their growth path.

Energy Funds The Simmons Parallel Energy Fund and Simmons Private Equity Fund II are private equity co investment funds invested predominately in European based energy businesses, including oilfield services and technology.

Financial Strategies Our team of more than 30 dedicated strategists draw upon their expertise in balance sheet management, macroeconomics, and fixed income, along with comprehensive modeling capabilities of assets, liabilities, fixed income analytics, and interest rate derivatives to provide in depth portfolio analysis and advisory services, ideas, market research and customized cash flow analysis.

Clients receive market leading insights through the group s holistic approach to balance sheet management and proprietary publications.

143

Plante Moran is among the nation’s largest accounting, tax, and business consulting firms with over "#$%%!&'()*++,(-./+!,-!0"!()),1*+!23'(453(42!23*!6-,2*7!82.2*+!.-7!.9'(.7:!8*';,-5!-*.'/<!0#0%%!&',;.2*! *=4,2<!),'>+!.-7!&('2)(/,(!1/,*-2+!-.2,(-?,7*#!?*!&'(;,7*!2'.-+.12,(-#!2.@#!.47,2#!),-.-1*!.-7!.11(4-2,-5!

(42+(4'1,-5#!+2'.2*5<#!(&*'.2,(-+#!.-7!2*13-(/(5<!+*';,1*+!.1'(++!23*!,-74+2',*+!.-7!23'(453(42!23*! investment life cycle. We deliver flexible solutions based on your firm’s distinct needs, which includ*+!

3*/&,-5!+2'.2*5,1.//<!*;./4.2*!.-7!*)),1,*-2/<!1/(+*!2'.-+.12,(-+:!A('!>('*!,-)('>.2,(-!;,+,2! &/.-2*>('.-:1(>B&',;.2**=4,2<:

!"#$"%&'()*+,-% C.'2-*'!D!E'.-+.12,(-!.7;,+('<!+*';,1*+ /*+/*<:>11.'23<F&/.-2*>('.-:1(>

144

!"#$%&' ()*+,)"' +-.#&,&' )/01&&' ,2#' 3-+,#4' 5,),#&' +-' )' .)0+#,6' 17' ,0)-&)/,+1-' ,6*#&8'+-/"%4+-9')/:%+&+,+1-&8';%61%,&8'0#/)*+,)"+<),+1-&8')-4'901=,2'/)*+,)">' 5+-/#' ?@@A8' !"#$%&' 2)&' 0)+&#4' and funded 1.#0' B���C' )/01&&' &e�en' 7%-4&'' +-'

���'

/1D*)-+#&>'

!"#$%&'

2)&'

;%+",'

)-'

+-&,+,%,+1-)"' *"),710D'

=+,2' )' ,#)D' 17' E�' *017#&&+1-)"&' ;)&#4' +-' F)"e�92' )-4' (2)0"1,,#8'G(>

!���"

*

���

��� ���������

�����5� ��������������

�ore ������r� Fo��� "8(.-$(('C$D7.+$('E 6$3*.%'F'G,-(8)$D'E @$+4<>-*1%$H'#$*%34+*D$'E'I.+4$'=*-8J*+38D.-2'E'K*%8$<AHH$H' /.(3D.183.,- C,J3L*D$'F'?@'C$D7.+$(

!"#$%&'(!)%*%+,-*./,.+/ We Look For

0&1-/,#-&,(!)%*%+,-*./,.+/

6$7$-8$9'!:;�<!:;;= >/?@/A9'!B�<!:5=

F<#%(>2'3/06*3);%G2(':+61/3*0%121%:0G2+3%D(0+# �nan��n����e�u������a������������n����������efe��ed� %H'/0<2*312)+,,+32%H'/0<

-

.+,,/00%12,*3*4%,%3020%*,( 506+342%312,*67%028'31*,%30*$( �u��a�na��e��������e��a������ 9(0*:$/(;%12:'(/3%((2(06*0%4<

5/=%>2u#20+2?@AB2C)+D/3E%(028+62$*64%62*,+'30(�

I(%2+82J6+)%%1(>2*)H'/(/0/+3(G2$%E%6*4%12:'<+'0(G2 ,*3*4%,%302:'<+'0(G246+!0;G26%)*#/0*$/=*0/+3(G2 ,/3+6/0<26%)*#/0*$/=*0/+3(

$ERYH ILJXUHV DV RI ; ΖQFOXGHV 6%Ζ& IXQGV; The information contained herein is not complete and does not contain certain material information about any fund PDQDJHG E\ 3OH[XV LQFOXGLQJ LPSRUWDQW GLVFORVXUHV DQG ULVN IDFWRUV DQG LV VXEMHFW WR FKDQJH ZLWKRXW QRWLFH 7KLV LV QRW DQ RIIHU WR VHOO RU D VROLFLWDWLRQ RI DQ RIIHU WR SXUFKDVH DQ\ IXQG PDQDJHG E\ 3OH[XV 6XFK DQ RIIHU ZLOO EH PDGH RQO\ E\ DQ 2IIHULQJ 0HPRUDQGXP D FRS\ RI ZKLFK LV DYDLODEOH WR TXDOLI\LQJ SRWHQWLDO LQYHVWRUV XSRQ UHTXHVW 3&

#$%&'()*%%'+,)&*-.$('/0'1.2'34.-2(5

!!!"#$%&'()*#")+,

145

PNC BUSINESS CREDIT

Customized solutions.

Committed relationships.

Proven results.

PNC Business Credit is a member of The PNC Financial Services Group, Inc., one of the largest diversified financial institutions in the United States, with a coast to coast franchise and more than $565 billion in assets as of September 30, 2024.

As a leader in senior secured financing to middle market companies, larger corporations, publicly traded companies, and private equity, PNC Business Credit offers a broad range of creative, customized financing solutions in support of acquisitions, refinancings, expansion, and business transformation both domestically and internationally. Our extensive capabilities range from asset based lending to leveraged and cash flow financing, channel finance, vendor finance, and specialty financing for technology companies and retailers.

Clients of PNC Business Credit have access to the full range of strategic advisory and transaction services; sponsor solutions and fund finance; access to the capital markets; and treasury management, institutional asset management, and private banking services through The PNC Financial Services Group, Inc. With 900+ deals closed in the past six years and $70+ billion in commitments under management, PNC Business Credit has the intellectual capital, financial resources, and the experience to get the Deal Done.

Our results are better because our approach is better.

Virginia Kiseljack

(404) 877 5835 (O) (404) 202 6556 (M) virginia.kiseljack@pnc.com

donedeal.pnc.com

146

Ben Colley

(412) 762 3791 (O) (770) 365 9493 (M) benjamin.colley@pnc.com

Joe Shylock

(704) 551 8516 (O) (814) 577 3302 (M) joseph.shylock@pnc.com

Porter, White & Company | Investment Bank Profile General Information Description Founded in 1975, Porter, White & Company is a boutique investment banking and investment management firm based in Birmingham, Alabama. The firm provides generalist investment banking services and supports and advises clients with specific expertise in the areas of mergers and acquisitions, valuation, capital advisory, capital raising, investment consulting, project finance, and municipal advisory. PW&Co's focused industries include manufacturing, business services, agri-business, and public finance.

Website

www.pwco.com

Year Founded

1975

Entity Type

Investment Bank

Employees

12

Also Known As

PW&Co

Formerly Known As

Porter, White & Yardley, Porter, White & Yardley, Inc., White & Company

Legal Name

Porter White & Company, Inc.

Service Provider Types

Investment Bank (Primary Type) Financing Advisory Valuation Firm

Contact Information Primary Contact

Primary Office

Michael Stone

1927 First Avenue North

Managing Director

10th Floor, Woodward Building

michael@pwco.com

Birmingham, AL 35203

Phone: +1 (205) 458-9137

United States Phone: +1 (205) 252-3681 info@pwco.com

Preferences

Preferred Industries

Geographical Preference

Preferred Deal Types

Preferred Verticals

Industrials, Manufacturing, Business Services, AgriBusiness, Healthcare

United States

Merger/Acquisition, Debt General, Mezzanine, Senior Debt, Subordinated Debt, Early Stage VC, Later Stage VC

Manufacturing, Industrials, Healthcare, Financial Services

Certain principals of PW&Co are licensed securities agents of M&A Securities Group, Inc., member FINRA/SiPC. Services involving securities will be performed by MAS. PW&Co and MAS are not affiliated entities.

1

147

!"#$%&$%$'(%)*+

,-.$ !"#$%&'(&)*+"%,-*.

/012-33$ /+"$.$""*&/01-,2

0-41533 8#$.",&/9)8:3&;#*."

21 34,-+"&56#,('$7%

6,5 8',#6&56#,('$7%

-5.$ 3<<='*&3401-%-,-'*%

!"#$78$%$9%:7&%($;%<&)+<$=7&>$%$?@)A4B+<3$#@*C8

• ;3>&?#%&('1*<"<&-*&@ABA&C2&;'C"$,&3D&>'ED&F1$&GH#-$7#*&I&G/FJ&;-4H#$<&K'$'?-,LJ&H#%&C""*& ?-,H&,H"&(-$7&%-*4"&@AA@ • M-*4"&-*4"N,-'*J&'1$&('41%&H#%&C""*&'*&N#$,*"$-*.&?-,H&%,$'*.&('1*<"$%&#*<O'$&7#*#."7"*,& ,"#7%&,H#,&N$"%"*,&#&1*-01"&+-%-'*&#*<&%,$'*.&+#61"% • P"&#401-$"&4'*,$'6&N'%-,-'*%&-*&7-<<6"&7#$Q",&4'7N#*-"%&#4$'%%&#&<-+"$%"&%",&'(&-*<1%,$-"%& -*461<-*.&4'*%17"$&#*<&-*<1%,$-#6&N$'<14,%J&H"#6,H4#$"J&#*<&<-+"$%"&%"$+-4"&C1%-*"%%"% • F1$&"01-,2&H'6<"$%J&,H"&>'E&#*<&K'$'?-,L&(#7-6-"%J&,'.",H"$&?-,H&#&%7#66&.$'1N&'(&+#61"=#<<"<& -*+"%,'$%J&H#+"&#&N"$7#*"*,&4'77-,7"*,&,'&'1$&"*,"$N$-%"D&F1$&"01-,2&4#N-,#6&-%&(1662&$"4246#C6" • P"&H#+"&#&6'*.=,"$7&+-%-'*&#*<&H#+"&H"6<&7#*2&'(&'1$&N'$,('6-'&4'7N#*-"%&('$&@RS&2"#$%D&F1$& 4'7N#*2&%,$14,1$"&"6-7-*#,"%&,H"&*""<&('$&%H'$,=,"$7&$"#6-L#,-'*&<1"&,'&6-01-<-,2&$"01-$"7"*,% • F1$&(-*#*4-*.&-%&N$'+-<"<&C2&#*&"-.H,=C#*Q&%2*<-4#,"D&P"&'N"$#,"&1*<"$&#*&17C$"66#&(#4-6-,2&,H#,& <'"%&*',&$"01-$"&#NN$'+#6&('$&*"?&#401-%-,-'*%&T*'&(-*#*4-*.&4'*,-*."*4-"%U&'$&,'&7#Q"& %4H"<16"<&N$-*4-N#6&N#27"*,% • P"&C"6-"+"&,H#,&,H"&7'%,&+#61#C6"&<"#6&-%&#&71,1#6&-*+"%,7"*,&'(&4'*(-<"*4"J&$"%N"4,&#*<&,H"& <"%-$"&('$&%144"%%&'+"$&7#*2&2"#$%&,'&4'7"

;@7)&8$@D$9@)&%*&

E+DD$F@<@=7&G !"#$%&'$(")$*+ ,-.'./"+01'23$45"+67#.8

")H<+=$I@)%(H 9*:$(+8$*+%;((.#"2+$ 2).*2<)1'23$45"+67#.8

8"6D&V@W=WBV=RBXY&&Z&&>#E[&V@W=WB\=@\]R WR&^'*17"*,&;'#<&&Z&&M1-,"&XRX&&Z&&9#6#&G2*?2<J&53&@ARR]

148

HELPING BUSINESSES SUCCESSFULLY NAVIGATE THE ROAD AHEAD We are a partnership-oriented private equity investor

TRANSACTION CRITERIA

dedicated to providing patient capital to support and

• EBITDA of $2–8 million

supplement the vision of the owners and management teams of strong performing businesses. Our overarching

• Enterprise values of $20–100 million

objective is to help our portfolio companies successfully

• Minimum gross / EBITDA margin targets of ~30% / ~15%

navigate the road ahead with strategic, operational and

• First institutional capital

financial guidance that will accelerate growth.

OUR GUIDING PRINCIPLES

• Meaningful owner/management rollover

SUPPORT the next phase of growth ENJOY the journey Leave a lasting POSITIVE impact

1997 YEAR FOUNDED

$712 MILLION

INVESTMENT CHARACTERISTICS • Proven, experienced leadership • History of profitable growth and identified future opportunities • Sticky, repeat customer relationships • Recurring revenue and sustainable cash flow • Potential for accretive add-ons

COMMITTED CAPITAL

$230 MILLION 45+ PLATFORM INVESTMENTS

FUND IV

WE INVEST CONTROL EQUITY IN: • Owner-driven recapitalizations • Management buyouts • Corporate carve-outs

B2B SERVICES & PRODUCTS FOCUS Healthcare

Commercial & Industrial Solutions

Business Services

Revenue Cycle Management

Inspection, Maintenance, Repair

Regulatory & Compliance Services

Pharma Services

Testing & Measurement

Data & Analytics

Facility and Equipment services

Food Safety

Training and Education

Benefits Management

Specialty Distribution

Government & Municipal Services

Medical & Dental Products

Infrastructure & Utility

Route Based Services

Contract Manufacturing

Niche Manufacturing

Technical Consulting

149

Partnering to Build Middle Market Leaders

WHO WE ARE Ridgemont Equity Partners is a Charlotte-based middle market private equity firm that has provided buyout and growth capital to industry-leading companies in the business and techenabled services, industrial growth, and healthcare sectors for three decades. The principals of Ridgemont have refined a proven, industry-focused model designed to build distinctive middle market companies.

INVESTMENT CRITERIA $100MM to $1B+ Enterprise Value Up To $500MM Equity Commitments

SECTOR FOCUSED INVESTING BUSINESS & TECH-ENABLED SERVICES

INDUSTRIAL GROWTH

Human Capital Solutions Ed-tech Training & Certification Third-Party Logistics Software in Select End Markets B2B Food Supply Chain Services Tech & IT Services

Value-Added Distribution Transportation Aftermarket Environmental Power & Infrastructure Services Facility & Home Services Sustainability Projects

HEALTHCARE

Behavioral Health Post-Acute Care Healthcare IT Supply Chain Services Pharma Services Payor Services Physician Services

ACTIVE INVESTMENTS

ORIGINATION AND CAPITAL MARKETS TEAM

150

For new investment opportunities, contact:

JUSTIN LAY

KELLY LINEBERGER

Partner 704.945.2108 jlay@ridgemontep.com

Partner 704.944.0935 klineberger@ridgemontep.com

SAM POOLE Vice President 704.944.0933 sam.poole@ridgemontep.com

ABIGAIL BUCKNER Marketing Coordinator 704.944.0944 abuckner@ridgemontep.com

River Associates is a time tested private equity partner for management teams of niche lower middle market companies in the United States and Canada.

OUR PHILOSOPHY Founded in 1989, River Associates has built a reputation for integrity and acumen with all our constituencies, including limited partners, investment referral sources, senior & mezzanine debt partners, and portfolio company management teams. Our Investments with Management philosophy effectively captures the spirit of partnership, respect, and trust which guides our actions in all aspects of business.

WHO WE ARE INVESTMENT HISTORY 120+ investments and 95 realizations over the past 35 years

STRONG REPUTATION Over three decades building relationships and references

EXCLUSIVE FOCUS A limited number of niche LMM opportunities are undertaken annually

SENIOR-LEVEL ATTENTION Five partners with 135+ years of combined tenure at River

VALUE CREATION Transform entrepreneurial businesses into larger sophisticated platforms

CAPITAL ACCESS River VIII, LP has $345 million in committed capital

CURRENT INVESTMENTS

INVESTMENT CRITERIA INDUSTRIES Manufacturing, Distribution, Industrial Services, Business Services Contact: Mark Jones Partner

$3 $12 MILLION EBITDA for platform companies; smaller add on acquisitions

PREFERENCE FOR Management led buyout and family succession transaction

P: 423.755.0888 mjones@riverassociates.com www.riverassociates.com

GEOGRAPHIC FOCUS United States and Canada

633 Chestnut Street Suite 1640 Chattanooga, TN 37450

151

152

!"#$%&'()#'*+,*"((@((789(613&:(0.2&(6:$$&

!"#$%""&'()'*+'!"#$%&'!(%))*+!$'#(&#,-private equity firm that has been partnering with #(&$#"$#(#.$-!$-/%0')*+!1(#,2.3'(#33#3-%(,-4!$"!$%&#-,'5#3&'&.$#3 in the )!1#$-0',,)#-0%$6#&',"-'0!$#-&7%(-89-*#%$3: Rockwood takes a values-based approach to investing. We strive to do the right thing. Always.

We bring the knowledge of our ;!461!!,-;'5#$-<.',#= network and time-tested Rockwood Business Systems to build extraordinary companies with entrepreneurial cultures.

!"#$%&'$"&(;,-&$,-.

G1(#$37'"-A!3'&'!(

J%$F#&-K!0"%(*-H'L# $10-$75 million in revenue $2-$7 million of EBITDA Add-ons of any size

Family/entrepreneur-owned 8"-?"-*@:'#*-;:5"A@)

<#!F$%"7* Platforms: North America HQ Add-ons: Any location worldwide

H'&.%&'!(3 B(-)@'(+)@(@A@("+*9'#*?(@*9 Control and partnership positions Recapitalizations or buyouts 8"-?"-*@:'#*-;:5"A@)'"-'&(;:)@(@A-:)

?!4.3-H#4&!$3-I-J7#0#3

Management buy-outs or buy-ins Succession planning partnerships Flexible Capital Solutions

!"#$%&'"()*+($,'-.", Aerospace & Defense Environmental Healthcare

Industrials Specialized B2B

!"#$%&'$"&()*+$,&-%$(."/(0123%(45(6$2&1,

D(5'$!(0#(&%)

K)#%(-P%&#$D(5'$!(0#(&%)H#$5'4#3-

D(#$F*-;#(#1%)A%$&(#$3N-OOK

!"#$95'65:+$,-

!"#$./0*1'+$23

=0#".?-0'"(4#./2%-+4'( -+&('"#1%#+(4#+0"#2()#"( "'1%&'+0%-23(4#..'"4%-2( -+&(.*+%4%/-2(2-+&( &'$'2#/'"1

8+'",6(4#+1*20%+,( 1/'4%-2%9%+,(%+('+'",6( &'$'2#/.'+0(-+&( &'4#..%11%#+%+,( /"#:'401(-4"#11(05'(;<=<

Q(,.3&$'%)3

C*(%0'4-?%4')'&*H#$5'4#3

M<-K!0"%('#3

R#%)&74%$#

H"#4'%)'L#,-B8B

O'/#1%*-S!2')'&*-

Superior Office H!).&'!(3-

!"#$,456547'8+$-!

!"#$%&'()&'*+$,-

!"#$!7:*;&:8+$,2

$!"#$<5=$>&:?+$<>

>-0%#+?%&'3(.*20%@10-0'( /"#$%&'"(#)(4#..'"4%-2( )-4%2%06(&##"(-+&(-44'11( 4#+0"#2(1'"$%4'1<

!"#$%&'"(#)(*+&'","#*+&( &-.-,'(/"'$'+0%#+( 1#2*0%#+13(1*45(-1( 56&"#$-4(-+&(*0%2%06( 2#4-0%+,(1'"$%4'13( 0#(%+)"-10"*40*"'3( *0%2%063(0'2'4#.3(-+&( 0"-+1/#"0-0%#+(.-"7'01(

!"#$%&'"(#)(5#.'( -44'11%A%2%06(-+&(1-)'06( 1#2*0%#+13(%+42*&%+,( ?5''245-%"("-./1( -+&(10-%"(2%)013()#"( /'#/2'(?%05(.#A%2%06( 45-22'+,'1(#"(?5#(?%15( 0#(-,'@%+@/2-4'

Office equipment and 1'"$%4'1(&'-2'"(-+&( /"#$%&'"(#)("'2-0'&( A"-+&'&(/"#&*401(

>%&#-?%.3&--@--A%$&(#$+B.3'(#33-C#5#)!"0#(& ./012'/3453636''7 kfaust@rockwoodequity.com Submit an Opportunity

;!461!!,-DE.'&*-A%$&(#$3 @ ;!461!!,DE.'&*:4!0 @ 89:;:9*+&'7'<:+;:-'7'=:%'>"-$

153

Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading factoring, asset-based lending, purchase order financing, and equipment financing firm in the United States.

With over 85+ years of generational family leadership and experience, Rosenthal is now led by the third generation of the Rosenthal family and continues to provide its clients with non-dilutive working capital lines of credit to support investments at any stage as they scale.

Loan size ranges from $500,000 to $30MM+, serving small to middle-market clients. With offices in New York, California, Georgia, North Carolina, Colorado and Illinois, Rosenthal’s team of nearly 220 commercial finance professionals covers the U.S. from coast to coast and nearly everywhere in between.

Rosenthal is a friendly participant with banks, investment banks, hedge funds, private equity firms, law firms, accounting firms, BDC’s, turnaround firms and other alternative lenders.

Contact Information: Leigh Lones, Director Recourse Factoring llones@rosenthalinc.com Gene Walsh, Business Development Ewalsh@rosenthalinc.com David Zimmerman, VP Business Development dzimmerman@rosenthalinc.com

Visit The Difference @ https://www.rosenthalinc.com

154

Route 2 Capital Partners | Investor Profile General Information Description Founded in 2017, Route 2 Capital Partners is a mezzanine investment firm headquartered in Greenville, South Carolina. The firm provides debt and equity to companies operating in the lower middle market across the Southern United States Website

route2capital.com

Total Platform Investments

31

Entity Types

Investor Mezzanine

Also Known As

R2CP

Active Portfolio

27

Investments (TTM)

8

Legal Name

Route 2 Capital Partners SBIC, L.P.

Exits

4

Investor Types

Mezzanine (Primary Type) Growth/Expansion PE/Buyout SBIC

# of Professionals

8

Trade Association

National Association of Small Business Investment Companies (NASBIC)

Investor Status

Actively Seeking New Investments

Year Founded

2017

AUM

$468M

Dry Powder

$150M

Contact Information Primary Contact

Primary Office

Patrick Weston

110 East Court Street

Co-Founder & Managing Partner

Suite 501

pweston@route2capital.com

Greenville, SC 29601

Phone: +1 (864) 484-9371

United States Phone: +1 (864) 484-9370 info@route2capital.com

Investment Preferences Preferred Investment Amount[s]

$3M - $20M

Preferred EBITDA

$2M Minimum

Preferred Industries

Geographical Preference

Preferred Deal Types

Preferred Vertical

Other Investment Preferences

Commercial Services, Business Services, Distributors/Wholesale, Consumer Products and Services, Government Services, Logistics, Healthcare, Tech Enabled Services

South

Acquisition Financing, Buyout/LBO, Mezzanine, PE Growth/Expansion, Recapitalization

Niche Manufacturing, Business Services

Prefers majority stake, Will lead on a deal

1

155

;$%&'().<'($(+'$&.=,(#>&?$(?#.@#. @(AB#?'().'(.C?&$(?$ !"#$%&%'($')*+,-'./01($2'"0&3/4&5' 63"7'(45'8"3"$4"'9&/%:#/34&35'/$%'(5' &;0/$%($2'($4"'<41/$4/'4"'=&44&3'5&3>&' /?3"55'@"349'<7&3(?/A'B&'50&?(/1(C&' ($'!($/$?(/1'D"%&11($2-'E/4/'<$/1F4(?5-' /$%'E#&'E(1(2&$?&'5&3>(?&5'6"3'G3(>/4&' H:#(4F'6(375'/$%'7(%I7/3J&4' =#5($&55&5-'1&>&3/2($2'"#3'#$(:#&' ?"7=($/4("$'"6'6($/$?(/1'&;0&34(5&' /$%'%/4/'/$/1F4(?5'?/0/=(1(4(&5A

$"#

!"# "#

!"# %&#'()&*

)

/+

- )0

/

;H,')IJ'B45.(+*<7-,K

278

,( -

3B'5-.(+*<944)< ;+C-+,'D'+.

9:;<%;/=

74E'5<AF<%-1CG4-56(+*

'6

2(+-+,(-)<@46')</&6(.

2 ( + -+

2(+-+,(-)<@46')<A&()6

%&' %() (*

%-.-</+-)0.(,1<?45<%&'< %()(*'+,'

(,1 )0. +-

>&-)(.0<4?<;-5+(+*1

%-.

-/

,' '+

1(1

3 &.

5, 14&

/&.4D-.(4+

F+L'1.45<J')-.(4+1 F+.'5(D<278/

!!!"#$%&'()*'($(+'$&"+,- / '(*,0#$%&'()*'($(+'$&"+,- / 12 34256.578 9 75::

156

"#$%&'(( )#*'+#(%',%#%(-$./%0'11(.20#/3.+%*/'4#+.% .56'+7%8/-6*%'9%+:.%,6;6/;,%-<%=.$%>-/3?%@.%#/.% 8/-$+:2<-A6,.1%*#/+9./,%$'+:%#%(-982+./0% 0'91,.+%+-%;6'(1%.916/'98%4#(6.%#91%*/.,./4.% (.8#A7%'9%+:.%;6,'9.,,.,%'9%$:'A:%$.%'94.,+?

90$%+:;+-$(%&+2<+#%)0)"*+ *%24'6+)"+&,//$&&<,5+ $"'%$1%$"$,%)(5+/2.1(")$&

,-(&.$("/',$*%

!"#$%&'$"&()*!&$*!+ • "6AA.,,<6(%.9+/.*/.9.6/'#(% A-0*#9'.,%$'+:%#%+/#A3% /.A-/1%-<%8/-$+: • "+/-98%'916,+/7%179#0'A,

AC–:;.

+""/+:( +6</%&$6($,!&6+

• B/'4.9%+-%,A#(.%$'+:%06(+'*(.% *#+:,%<-/%8/-$+:

• D$9.1%;7%.9+/.*/.9.6/,C% <#0'('.,C%*/'4#+.%.56'+7% 8/-6*,C%#91%A-/*-/#+'-9, • E"%F%)#9#1#%GH

$0/!&-( ).$);(%!7$

!

F2"'%25+G"0$&'.$"'&

• )#*#A'+7%<-/%'94.,+0.9+ • "+/-98%0#9#8.0.9+% +.#0,C%-/%*(#99.1% 0#9#8.0.9+%+/#9,'+'-9,

AD;–?;.

G"#,&'%)(5+H$%0)/$& I%2<$&&)2"(5+H$%0)/$& J"*)"$$%$#+I%2#,/'&

/"!0/$(!"1.2/%$(*$%$+*). !"#$%&'("#)"*+)"#,&'%-+#-"(.)/&+#%)0$&+&,1$%)2%+%$',%"&3+&2+4$+ #$152-+2,%+#$#)/('$#+'6%$$71$%&2"+'$(.+'28

• "6**-/+%'94.,+0.9+%8/-$+:%#91%,6AA.,,%+:/-68:-6+%('<.A7A(., • B.4.(-*%/-;6,+%'94.,+0.9+%+:.,.,%$'+:%:'8:%A-94'A+'-9 • IAA.(./#+.%1'('8.9A.%#91%.J.A6+'-9%,*..1%$'+:%8/.#+./%A./+#'9+7% +-%A(-,.

• )-((#;-/#+.%$'+:%0#9#8.0.9+%+.#0,%+-%,:#*.%8/-$+:%,+/#+.8'.,C% ,.'K.%-**-/+69'+'.,C%#91%9#4'8#+.%0#/3.+%A:#((.98., .23(3$(24$*+&$ =$+&'("#+>$6)"#+2,%+/2.1(")$&+("#+.("(*$.$"'+'$(.& • D9.%1.1'A#+.1%1.#(%+.#0%+:/-68:-6+%+:.%'94.,+0.9+%A7A(.

BC;.

A

)/**$"&( 5/"6(%!7$

:?@

:E

-$+* .!%&2*-

-$+*(+#89( %$"!2* &$+'( &$"/*$

DC

C

!"#$%&'$"& 4*25$%%!2"+:%

:?

4:+&52*' !"#$%&'$"&%

4$*%2"(!"1.2/%$ *$%$+*).(&$+'

DD

)2'4+"!$% %$$;!"8(+661 2"%

)2"&+)&(/% '%()*+$$,(-+!($.,&* !"#$%&"

K).+L$5&2"

+9.(,-9 M,#$0'((A#*'+#(?A-0

'%()*+$$,(-+!($.,&* %/+0(/1

H/2''+M)0(%# H/2''+ P("#$Q$%R62<<

,/'4#/1 M,#$0'((A#*'+#(?A-0

'%()*+$$,(-+!($.,&* %0("1#5#/54&66

,4#91.3./3:-<< M,#$0'((A#*'+#(?A-0

'%()*+$$,(-+!($.,&* !6&$!7

K%(0)&+S25'T

+<-(+K M,#$0'((A#*'+#(?A-0

'%()*+$$,(-+!($.,&* 18/#88

U("+V%$**

18/.88 M,#$0'((A#*'+#(?A-0

'%()*+$$,(-+!($.,&* 5394(%

Q(/-+W,6(&

376:#, M,#$0'((A#*'+#(?A-0

'%()*+$$,(-+!($.,&* ,*,#$4#"3

F(.+O/J56$"-

A0A.(:.97 M,#$0'((A#*'+#(?A-0

'%()*+$$,(-+!($.,&* /2/(1$#3

M-("+N%(#5$-

/;/#1(.7 M,#$0'((A#*'+#(?A-0

• "6**-/+%0#9#8.0.9+%$'+:-6+%1#72+-21#7%'94-(4.0.9+

H(4+O)55 F(1)'(5

• D*./#+'-9#((7%0'91.1%'94.,+-/,%$'+:-6+%6,'98%-*./#+'98%*#/+9./,

NNN%O(.#,#9+4'((.%P-#1

• L6'(1%+#'(-/.1C%'916,+/72/.(.4#9+%;-#/1%-<%1'/.A+-/,%<-/%.#A:% A-0*#97

L/'#/A('<<%&#9-/C%=>%SRNSR

"-6+:%L6'(1'98C%"6'+.%QQR TUSVW%XVS2SYRR%Z%,#$0'((A#*'+#(?A-0

157

SCG Partners invests in businesses that capitalize on the operational excellence, strategic relationships, commercial synergies, technology, and national contractor networks of Safeguard Properties, a leading business process outsourcing company headquartered near Cleveland, Ohio. With dedicated capital in excess of $200 million, SCG Partners is focused on eight industry verticals that are ideal for accelerated growth.

SCG Partners combines the valueadded resources of a strategic partner with the customized approach of an equity sponsor.

TARGET INDUSTRY VERTICALS Commercial Landscaping and Golf Course Grounds Maintenance - Successfully acquired and

Insurance Inspection Services - Safeguard Properties has developed a national network of property inspectors largely serving the mortgage banking industry.

Actively seeking to acquire insurance inspection businesses anywhere in the United States that can leverage Safeguard Properties’ inspection capabilities and expertise.

integrated more than 20 best-in-class commercial landscaping companies. Actively seeking to grow our portfolio company Down to Earth Landscape & Irrigation into a leading landscaping, lawn maintenance in the Southeastern U.S. and golf course grounds maintenance company nationwide.

Public Insurance Adjusting, Claims Services, and Insurance Restoration -

Safeguard Properties provides restoration and repair services nationally in the property preservation industry. Actively seeking companies in licensed public adjusting, claims services, or insurance driven disaster recovery services

Plumbing & HVAC - Safeguard and SCG Partners

have developed systems to assist plumbing/HVAC businesses to improve profitability and execute acquisitions.

Actively seeking to acquire a plumbing and/or HVAC platform. Ideal geography for new platform is Northeast Ohio.

Vehicle Inspection Services - SCG Partners is

expertise in roof repair and maintenance for commercial or residential roofing. Actively seeking to acquire a roofing platform. Ideal geography for new platform is Northeast Ohio.

seeking a platform company in the vehicle inspections space, focusing on on-site inspections and reporting. Actively seeking companies that provide vehicle inspections for auto dealerships and auto insurance providers, auto finance and leasing companies and similar providers, covering asset condition and location, customer experience, and pricing.

Multi-site Facilities Maintenance - Actively seeking

Retail Inspections and Mystery Shopping -

Roofing - SCG Partners is seeking to capitalize on its

SCG Partners is seeking a platform company in the retail inspections/mystery shopping space, specializing in on-site inspections. Actively seeking companies that provide reporting on product placement, asset condition, customer experience, and retail conditions for consumer goods companies, retailers, restaurants, banks, and more.

to acquire a multi-site facilities maintenance provider, including handyman services, HVAC, plumbing, lighting, fire protection, and signage maintenance services. deal geography for new platform is Northeast Ohio.

PORTFOLIO

STRATEGIC PARTNER

Headquarters: Maitland, FL www.dtelandscape.com www.dtegolf.com

Down To Earth Landscape & Irrigation is a leading full-service landscape, irrigation and landscape construction company serving multiple regions across Florida. Areas of expertise include large-scale commercial, residential and resort services.

In addition, the company’s dedicated golf division manages and maintains more than 600 holes of golf.

Profile Inspection Services is a premier insurance underwriting inspections and loss control service company that works with insurance companies.

Headquarters: Bedford, NH www.profileinspection.com

For more than 30 years Profile has been a leader in time-based inspection management, providing clients with the boots on the ground they need to mitigate risk and help them achieve their underwriting goals.

Eden is a web/mobile app-based landscaping, lawn care and snow removal service provider operating in Canada as well as multiple areas across the U.S.

Headquarters: Toronto, ON www.edenapp.com

Offering both on-demand and subscription service options, the company provides customers with expedited order placement and opportunities to stay connected with contractors.

MFS Supply is a leading national distributor of renovation materials, including cabinetry, countertops, appliances, lighting, plumbing fixtures and HVAC.

Headquarters: Solon, OH www.mfssupply.com

In addition to property preservation (single-family, residential, commercial), the company also carries a wide selection of items utilized in the real estate industry.

Safeguard Properties Management, LLC Safeguard Properties Management, LLC is the mortgage field services industry leader, inspecting and preserving vacant and foreclosed properties.

Safeguard prides itself on its dedication to working with community leaders and officials to eliminate blight and stabilize neighborhoods across the country.

SCG Partners’ relationship with Safeguard Properties enables us to deliver world-class resources to our partnerships.

These resources include: • Substantial operational experience • Sophisticated IT infrastructure • Experienced senior management team • Disciplined financial practices • Strong business relationship network

INVESTMENT CRITERIA Size •

For Platforms: $1 million to $15 million of earnings before interest, taxes, depreciation and amortization (“EBITDA”)

•

For Add-on Acquisitions: No minimum size

Investment Structure • • •

Control-oriented Leveraged buyouts Recapitalizations

Business Models • • •

Service-based companies Recurring or repeat business models 10%+ EBITDA margins

For new acquisition opportunities, contact Jonathan Ives | 216.633.0616 | jonathan.ives@scgp.com 7887 Hub Parkway | Valley View, OH 44125 | www.scgp.com

158

About Our Firm Smith Gambrell Russell is a full-service, international law firm that advises regional, national, and global businesses on a wide array of legal matters. The Firm’s nearly 350 attorneys provide legal counsel in more than 50 specialized practice areas: Corporate M&A International M&A Real Estate Aviation Financing

Banking and Finance Intellectual Property Employee Benefits & Executive Compensation

Insurance/Reinsurance Construction Law Employment Law Employmen

Global Reach SGR has 14 domestic and international offices including Atlanta; Austin; Charlotte; Chicago; Jacksonville, FL; London; Los Angeles; Miami; Milan; Munich; New York; Southampton; Tampa, FL; and Washington, DC.

Connect With Us Contacts Audria Crain acrain@sgrlaw.com +1 (404) 815-3646

Everett “Rett” Peaden rpeaden@sgrlaw.com +1 (404) 815-3712

Primary Office

1105 West Peachtree Street Northeast Suite 1000 Atlanta, GA 30309 United States Phone: +1 (404) 815-3500 Fax: +1 (404) 815-3509 www.sgrlaw.com

Rankings & Reach Am Law 200 Law Firm Best Lawyers® Best Law Firm Atlanta Mergers & Acquisitions Law (Atlanta) Chambers 19 Practice Area Recognitions 42 Attorney Recognitions 2 Recognized in the Corporate/ M&A sector Corporate/M&A (Georgia) International Professionals Offices in UK, Germany, and Italy Professionals who practice in Japan, Korea, Israel, Latin America, China, and more

SMITH, GAMBRELL & RUSSELL, LLP

159

!"#!#$%!&'( ;<=>

FGH<,I

1?@A&:BCDE?E

4BJJKLL?E&4@MKL@N

;HI

D@>AE%8F GAH;> ?@9: RSORP/(#TOMU(&$IA@E8>@<J%I<

F=U>9

/KQLBAKO@N 3BALTBNKB&4BJM@DK?QR=S

=<<I

!BL@N&"OPCKQKLKBDQ& 4BJMN?L?ER=S

;<

/KQLBAKO@N !A@DQ@OLKBD&5@NC?R=S

'(5%+!,%(!&4#'!%#'".

/MN(

!BL@N 3ABT?QQKBD@NQ

"O!&/!'"MP&,"QR(/

FH8FV<,

FH<8FVH<,

!-&#.*

9*17*!+

!"#!$%$&'!()*+,!

#%4"3'!"0'W"!'7(+

89 :%8%:;: <%=> ?9@ ABBC98<

9*1 "()&9*'0)+ )'5%+!'!*#%+

!"#$%!&'()*+!#'%+ "()&%()&,"#-%!+.

M&TS/"OQ !$&P/"M' VM"W R!O"M'S%!O M&"(O(/" M& /(%('" U(O"M'!%/ VM"W T((R <MOX (YR(O"M/(

/00. 1(-!)!$*2!

/*3&+&#8('!$)&3!'

$!'&.!"#&*+('!$)&3!'

!")&$0"7!"#*+('!$)&3!'

#!'#&"24(&"'%!3#&0"4(1( 3!$#&/&3*#&0"

&".,'#$&*+'

#!356!"*-+!.('!$)&3!'

7*&"#!"*"3!4($!%*&$ 1( 0)!$5*,+

5"0*%8"))%)&)'+!#'9*!'7(

9*+'(%++ "()&'()*+!#'"0&+%#5'4%+

+3%4'"0'W%)&,"(*:"4!*#'($

6/7&6%&"#%

6/1&6%&"#%&)'::%#%(!

/'$/01 %23%#'%(4%) '(5%+!,%(! !%", 6'!/ )%%3 +%4!7#

3*#37+%8)#'5%( 6'!/ ,%"('($:*0 37#!'7( 7: 3#7:'!+

-(760%)$% '( +%0%4! 5%#!'4"0+

47(!#'9*!%) !7 3/'0"(!/#731

!/%+'+8)#'5%( '(5%+!,%(! "33#7"4/ 6'!/ !/%,"!'4

'()*+!#180%")'($ ,"("$%,%(!

7#'$'("!'7( 3#74%++%+

'(4%(!'5% 3"4-"$%+ !7 %(+*#% '(4%(!'5% "0'$(,%(!

3"#!(%#+/'3 "33#7"4/ 47(+')%#+ " 9#7")%# +%! 7:

9#7") +7*#4'($ 4"3"9'0'!'%+ +*337#!%) 91 %2!%(+'5%

+!"-%/70)%#+

'(!%#,%)'"#1 (%!67#-

-%1&47(!"4!+

TMO('"PO P<,8S/M&(//,T(U(%PRX(&"

Z(Q,M&U(/"X(&",ROP<(//MP&!%/

XMZ(,W!&T1,:A8AF%8F$IA@E8>@ 23&*L,265+(-&++M)-/N435/&+5,O'60

XM'W!(%,8O(&&!&

K5+&&3&L,265+(-&++M)-/N435/&+5,O'60

R("(O,<O!&N1,IA@E8>@

753&PL,265+(-&++M)-/N435/&+5,O'60

M!&,$!O%!&T1,:A8AF%8F$B%@>DE9@ N!'W,XM""(%X!OZ1,:A8AF%8F$B%@>DE9@ "!Q%PO,VPPT1,G%D>$I@><%B>8E Q35(3&*L,265+(-&++M)-/N435/&+5,O'60

XMZ(,X!&'M&M1,G%D>$I@><%B>8E

03&'-&-L,265+(-&++M)-/N435/&+5,O'60

0-//+(035RL,265+(-&++M)-/N435/&+5,O'60

166*L,265+(-&++M)-/N435/&+5,O'60

R("(O,8PSO("1,G%D>$I@><%B>8E

X!',X''O(!TQ1,<>8%9@$A<<9D%AE>

K6)5+/L,265+(-&++M)-/N435/&+5,O'60

)*+,)-. /01,/2304,)+*,5,&460274,849:;1,<%,)==>>

"4?@,AB+CD,===#>EC+,5,FFFGH;I-4?3744J230K69-074-HG:IL !"#$%&'()*+, -&.+,/0+&/, 12-(+ 3/ 45-65 7-50,

160

0''5+3*NL,265+(-&++M)-/N435/&+5,O'60

!"#$%&'#()*+,)-.+%/*0# 1&23)*/"4 !"# %&'()* -& ( 01-5(,/ /B+-,# 3-18 (4,-5/'# -)5/&,-): 2+, 23 2+1 &/42)* 3+)*C 324+&/* 2) 0(1,)/1-): /D4'+&-5/'# 9-,7 01-5(,/'#E7/'* 8()+3(4,+1-): 4280()-/&? F/ 6/'-/5/ -) ,7/ 3+)*(8/),(' ,/)/,& 23 0(1,)/1&7-0 ()* -),/1/&, ('-:)8/),C 97-47 0/15(*/ /5/1#,7-): 9/ *2?

!"#$%&'$"&()*+&$*+,

G()+3(4,+1-):$ H280()-/&

V/(*B+(1,/1&$W$A1-8(1#$ @0/1(,-2)&$-)$X?!?$21$ H()(*(

R;E=;$G-''-2)$TY%PZO

A1-5(,/'#EV/'*$()*$ G()(:/*$KL2)E %)&,-,+,-2)('N

!/''/1&IG()(:/8/),$ J22"-):$321$($A(1,)/1$ KL2,$M+&,$H(0-,('N

%),/1/&,$O'-:)8/),$ P712+:7$Q2''25/1$ %)5/&,8/),

R=<–S<$G-''-2)$TB+-,#$ H7/4"&

G(U21-,#$H2),12'

-$.&/*%(/0(!"&$*$%&

-&*,&$1+.(23,45//6

•

O*5()4/* G(,/1-('&

•

%)*+&,1-(' P/47)2'2:#

!"# %&'()* +,-'-./& ( 01201-/,(1# ()* /33/4,-5/

•

O/12&0(4/ W Z/3/)&/

•

G/*-4(' Z/5-4/&

20/1(,-2)(' 0'(#622" ,7(, 7(& 6//) 41(3,/* ()*

•

O+,2 W P1()&021,(,-2)

•

G/*-4(' A12*+4,&

72)/* 3128 921"-): ('2):&-*/ 821/ ,7() ;<

•

Y/(+,# W A/1&2)(' H(1/ •

G/,('&

4280()-/& 25/1 ,7/ 0(&, => #/(1&? @+1 !,1(,/:-4

•

Y+-'*-): A12*+4,&

•

@+,*221 W Q/41/(,-2)

A'(#622" -& 6(&/* 2) 3-5/ 421/ ,/)/,& 2+,'-)/* 6/'29

•

H2EA(4"-): I H2EG3:?

•

A(4"(:-):

()* 4+&,28-./* 321 /(47 021,32'-2 4280()#?

•

H2)&+8/1 A12*+4,&

•

A/, [22* W A12*+4,&

•

[22* W Y/5/1(:/

•

A1-5(,/ J(6/'

•

V/(',7 W F/'')/&&

•

!0/4-(',# H7/8-4('&

•

%)*+&,1-(' A12*+4,&

•

]G!

V+8()$ H(0-,('

[-)()4-(' W$ \25/1)()4/

@0/1(,-2)&

H280/,-,-5/$ !,1(,/:-4$ A2&-,-2)$W$ P1()&3218(,-2) !('/&

161

RERTLX$2%(L<0(/6(LY >6".( ORGL Z$%%$#7 V[L\HOEQ

DZ OER=FE\=R\RH <<<G8"#$8"%&'$')*+,)#G'";

T7$&7+$< 010M !"#$ !"%&'$ ()*+,)# (“SSC”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

"/*&$'("0$#+*2/*&'(-*

-"%./$/ +. 0123 45 6)7+/ -&$/8,".9 !!( '".8+8,8 ": ) ,$); ": *&":$88+".)#8 <=" >"+.$/ :&"; :+&;8 +.'#%/+.? @=$ A"&$8 A&"%*9 (#$)&#)B$ ()*+,)#9 !C( ()*+,)#9 D#),+.%; EF%+,59 )./ 6).)=$&G

J*:&"., K.7$8,;$., (";;+,,$$ +.7"#7$;$., $.8%&$8 ." 8%&*&+8$8 L)**&"7)# '). 4$ "4,)+.$/ +. 0M ="%&8NG !!( '";;".#5 '#"8$8 ,&).8)',+".8 +. #$88 ,=). O1 /)58 )./ =)8 ." :+.).'+.? '".,+.?$.'+$8G

@=$ !!( #$)/$&8=+* ,$); )??&$?),$8 "7$& 211 5$)&8 ": *&+7),$ $F%+,5 +.7$8,;$.,9 "*$&),+".)#9 )./ '"&*"&),$ #$)/$&8=+* $I*$&+$.'$G

SSC’s +.P="%8$ ,$); *&"7+/$8 ?%+/).'$ )./ &$8"%&'$8 ," $I$'%,+7$8 ," /&+7$ 8+?.+:+')., "*$&),+".)# +;*&"7$;$.,8G @=$ !!( Q)5!R +.,$?&),$8 "*$&),+".)# $.?)?$;$., <+,= RSC &$8"%&'$8 ), ,=$ ".8$, ": ,=$ +.7$8,;$., *&"'$88G

#+,)(%-)+%'*"#%)"#.

!"##$%"&$'()*+#*$,*&-.(/

!"#$"#%&'()*%$"( !EVWK(E!

9A&;)3*=+,.*&;=');3*,9&'?);&0,MN-9E, O&$&'3="',9&'?);&0E,P3==&'+Q

9.DLB:.9

.00&$=)3*,9&'?);&0,M:"//&';)3*,C, D&0)%&$=)3*Q, :"//&';)3*,D&1')R&'3=)"$,9&'?);&0,, :"//&';)3*,H""',C,H";V,9&'?);&0

!$'%#)&H @)+#<+./8

R+.+;)#H (%8,";$&H (".'$.,&),+".

!%8,)+.)4#$H (";*$,+,+7$H C/7).,)?$

U%5H)./HU%+#/H T**"&,%.+,5H

V$8+#+$.,HE./P R)&B$,8

W)#%$PC//H ()*)4+#+,+$8

V$'%&&+.?H V$7$.%$

X$)/F%)&,$&$/H +.HY"&,=H C;$&+')

V$7$.%$ZH [\01R EUK@6CZH]\01R

-'"A&'=+,F3$3R&/&$=,9&'?);&0 .$?)'"$/&$=3*,:"$0#*=)$R S3=&',W&0=)$R,U,W'&3=/&$=,9&'?);&0 :+@&'0&;#')=+,B$=&R'3="'0 BW,9&'?);&0,U,F9-0 :*"#%,F3$3R&%,9&'?);&0

6K!@VKUJ@KTY

.*&;=');3*,-'"%#;=0 !)*='3=)"$,-'"%#;=0 9A&;)3*=+,.=>$);,!""% S3=&',B$1'30='#;=#'& S3=&',W'&3=/&$=,:>&/);3*0

RCYJ-C(@JVKYA :"$='3;=,F3$#13;=#')$R,M!""%,C, B$R'&%)&$=0Q T3@&*0,U,-3;V3R)$R !)*='3=)"$,-'"%#;=0 F&%);3*,-'"%#;=0

/$0+1)"2/"#)+13& SSC has been named on Inc.’s List of Top !"#$%&'(!')&$%*+,-.,!)'/0,1"',2 +&3'0,)$, 3,'"4, since the list’s inauguration 5678,"1,99:,3;<#)0)=)"$0, >3?&,@&&$,A')?3=&*+(>&*%, @#0)$&00&0

%$!'")%0"+( !#$%,B,C,!#$%,BB,3'&,="A,A&'1"'/&'0,)$, BDDE,FGB:,3$%,H-B,1"',3**,I"'=>, J/&');3$,@#+"#=,1#$%0K

((*'*$+%.*%( ^+8) -#).+?). KHHD&+.'+*)# %1%$/"5$/W#&%(#&6)3(3$2".$%=3&+ T&+?+.),+".H@$); &)"5"/$."&/W#&%(#&6)3(3$2".$%=3&+

KLM".3;J&&- – N"/.$5(L9($)LOGEPLC#$+2%(L#"4(L– QF!L$/,LOGOGLC#$+2%(L#"4(L– EGR!L869&6.L16/,#L$#L&1LFSTGSOGOT=L:&.(ULV;(#(L)$/-"/5#L+$9L/&.L)(2)(#(/.L"/0(#.&)L(I2()"(/3(L'".;L>>?L&)L.;(L16/,#7L/&)L,&L.;(9L 3&/#.".6.(L$L)(3&++(/,$."&/L&1L>>?L&)L".#L#()0"3(#=L>63;L)$/-"/5#L$)(L/&.L/(3(##$)"%9L"/,"3$."0(L&1L>>?L2$#.L&)L16.6)(L2()1&)+$/3(=L>>?L,",L/&.L,")(3.%9L&)L"/,")(3.%9L2)&0",(L3&+2(/#$."&/L1&)L"/3%6#"&/L"/L.;(#(L )$/-"/5#L$%.;&65;L".L;$#L2$",L$L#68#3)"2."&/L.&LM".3;8&&-=L<,,"."&/$%L"/1&)+$."&/L&/L.;(L)$/-"/5#L&)L$'$),L+(.;&,&%&5"(#L"#L$0$"%$8%(L1)&+L.;(L#2&/#&)=

162

B23*4$(),/+&,A(/*2#+G$%(HA$I+7A$($F3+&.( +"#$%&'$"&%(,"G(4*$,&+#$(G$7&(4,/+&,A( %2A3&+2"%(&2(A20$*5'+GGA$5',*J$&( 42'/,"+$%(,4*2%%(,(*,"9$(2H(+"G3%&*+$%1

:*+#,&$(>F3+&.

!"#$%&'$"&()*+&$*+,(

!"#$%"$#&

!"#$%&'()*) !&+$%&'( ,%-.-%%-/)*) 0$11$+)234&'(

!"#$%&'$"&(-./$%

#&0&1$&2

&'(")*

+&,+#*-./

5;<7) !&88&$+

567) !&88&$+

9:)*) 0"+"/"

!"+"=-1-+'>?"@A-/) B-C-%"=-/)?4($4'D

?4()"+/) ?4&8/),8"'.$%1D

E-@"F&'"8&G"'&$+D

H%$I'J)0"F&'"8

0$%F$%"'-) K&C-D'&'4%-D

L//>M+) L@34&D&'&$+D

B$A$4&(!"#$%&'$"&%

O2VL:S

O2VL:S

!R0NRHLPS

PMEON)0LEMBRPLS

H2MEHRLS

H2MEHRLS

0MPP20OR09OS

O2PP2::22S

H2MEHRL

!LETBLPK

0LBRWMEPRLS

LERUMPL

ENMK2)R:BLPKS

H2MEHRL

SL@'&C-8():--A&+=)L//>M+D

!"G3%&*.(:*$H$*$"4$ ?6?)2>0$11-%@-

0$+D41-%),%$/4@'D)*):-%C&@-D

!48'&>:&'-)N-"8'J@"%-

O-@J+$8$=():-%C&@-D

?4D&+-DD)Q)R+/4D'%&"8):-%C&@-D

N-"8'J@"%-):-%C&@-D

P&@J-)!"+4."@'4%&+=

O%"+DF$%'"'&$+)*)B$=&D'&@D

Let’s Connect

-2'(6,*7+" 8,",9+"9(:,*&"$*

@.,"(=$*9( :*+"4+/,A

B,'(CAA$"( :*+"4+/,A

&2';,*7+"<%23*4$54,/142'

*.,"7$*9<%23*4$54,/142'

%,',AA$"<%23*4$54,/142'

=$"(>''2"%( 8,",9+"9(?+*$4&2*

8,&&;$0(B'+&;( :*+"4+/,A

D2%;();+"( :*+"4+/,A

7$"$''2"%<%23*4$54,/142'

',&&%'+&;<%23*4$54,/142'

E2%;4;+"<%23*4$54,/142'

0001%23*4$54,/142'

163

SouthPointe Ventures | PE/Buyout Profile General Information Description Founded in 2003, SouthPointe Ventures is a private equity firm based in Atlanta, Georgia. The firm prefers to invest in manufacturing, distribution, and business service sector companies.

Website

www.southpointeventures.com

Total Investments

11†

Entity Types

PE/Buyout

Active Portfolio

3

Also Known As

SPV

Exits

6

Legal Name

SouthPointe Ventures, LLC

Investor Type

PE/Buyout

Investor Status

Actively Seeking New Investments

Year Founded

2003

Med. Round Amount Med. Valuation # of Professionals

3

Contact Information Primary Contact

Primary Office

Ed Fisher

1180 West Peachtree Street, Northwest

Founder & Managing Partner

Suite 1910

edfisher@southpointeventures.com

Atlanta, GA 30309

Phone: +1 (404) 229-1595

United States Phone: +1 (404) 249-6000 info@southpointeventures.com

Investment Preferences Preferred Revenue[s]

$5M - $50M

Preferred Company Valuation[s]

$5M - $30M

Preferred EBITDA

$1M - $5M

Preferred Investment Horizon[s]

1- 15 years

Preferred Industries

Geographical Preference

Preferred Deal Types

Preferred Vertical

Other Investment Preferences

Commercial Services, Distributors/Wholesale, Other Business Products and Services, Manufacturing

Southeast and Midwest U.S. (within 1 timezone of ATL)

Add-on, Buyout/LBO, PE Growth/Expansion

Manufacturing Distribution Business Svcs

Long-Term Investor, Prefers majority stake

1

164

!"#$#%&$'()

6#"'$,"($708('90 :#$#7,:,$'0',#:%0')0 ;/(5-07",#'0;/%($,%%,%

+,-23)$452

.*/0-1

.+6122

*+,-

.)/$-,-0($01221

*$+,%',-

3")%%0!"#$%#&'()$0 4#5/,

!"#$%#&'()$%

O'=)5":)'"2P48")48$

<D,#D,,=000

<6D#D,=000

>,+,$/,00

?@*!AB00

<6D,#D,,=000 ?$',"C"(%,04#5/,00

<ED#+,,=000

?D/('EF0!"#$%#&'()$

7899&)2:$4;)"2<48=$")2)>?8"@2A84:2 AB(?5)92B'2985"48C?"8B'2$'92C?58')5525)4=8()5

F85"48C?"8B' !A")4#:$4;)"2$'927GH2I$4"5 !"#$%&'(@:A:($%,)*%<9)3*(38( #8)"*1#*0")(,"1%-)*#%."*(+#*),(#&$( #66",,3*%",(E%)>(#(631+.")"(.%&"(38( <*#&$"$(#&$(+*%/#)"(.#<".(+#*),(83*( #..(1#0",(#&$(13$".,(38()*#%."0-, !"#$%&'($%,)*%<9)3*(38(,+"6%#.)?( "&'%&""*"$(>%'>(+9*%)?(#&$(%&$9,)*%#.( 8.3E(631+3&"&),2("F9%+1"&)2(#&$( ,"*/%6",()3()>"(,"1%63&$96)3*( 1#*0"):(

PB'5?:$C&)2I4B9?("5 G%,)*%<9)3*(38(+*3$96"2($#%*?2(#&$( ,+"6%#.)?(833$(%)"1,()3()>"(*",)#9*#&)( #&$(>3,+%)#.%)?(%&$9,)*%",(%&()>"( H.3*%$#(#&$(4"I#,(1#*0"),:

B&.%&"(,9++.%"*(38(/#.9"-3*%"&)"$( 89*&%)9*"(83*(*",%$"&)%#.(#&$( 6311"*6%#.(9,"()>*39'>(<3)>( E>3.",#."(#&$($%*"6)()3(63&,91"*( (“DTC”) channels.

1?58')552M)4=8()5 1?8&98'JKG)589)'"8$&2L$(8&8"8)52M)4=8()5 A"*/%6"(+*3/%$"*(38(*",)3*#)%3&2( *"&3/#)%3&(#&$(1#%&)"&#&6"(,"*/%6",( )3(19.)%8#1%.?(63119&%)%",(%&(3/"*( CD(,)#)",:

N55)'"8$&KO'A4$5"4?("?4)2$'92 H?"5B?4()92M)4=8()5 =(."#$%&'(+*38",,%3&#.(,"*/%6",(8%*1( +*3/%$%&'("&)"*+*%,"()"6>&3.3'?( 1#&#'"1"&)2(8%&#&6%#.(1#&#'"1"&)2( #&$(+*3'*#1(#&$(63&,)*96)%3&( 1#&#'"1"&)(,"*/%6",()3(@:A:(8"$"*#.( '3/"*&1"&)(6.%"&),:(

;*3/%$"*(38("&/%*3&1"&)#.(#&$( "&'%&""*%&'(63&,9.)%&'(,"*/%6",(83*( 6311"*6%#.(#&$(%&$9,)*%#.(6.%"&),2(3%.( #&$('#,(631+#&%",2(+9<.%6(9)%.%)%",2( 19&%6%+#.(#&$('3/"*&1"&)(#'"&6%",:

B9),39*6"$(,"*/%6"(+*3/%$"*(38( %&8*#,)*96)9*"(%&,+"6)%3&(#&$( 1#%&)"&#&6"(,"*/%6",()3(19&%6%+#.2( 9)%.%)?2(%&$9,)*%#.(#&$("&"*'?("&$( 1#*0"),:(

!"#$%&'("&)"*+*%,"-."/".(*%,0( 1#&#'"1"&)(+#*)&"*2(+*3/%$%&'( 4",)%&'2(5&,+"6)%3&2(7"*)%8%6#)%3&2(#&$( Compliance (“TICC”) services to 631+#&%",(%&(",,"&)%#.(%&$9,)*%",:

!"#$%&'(+*3/%$"*(38(6*%)%6#.(/"'")#)%3&( 1#&#'"1"&)(,"*/%6",()3(9)%.%)?( 631+#&%",(%&()>"(@&%)"$(A)#)",:

A#+(-0GH0I#9$

J/5(#0?H0K,8:#$

L#9$M%',"5($75CH&):

$,8:#$M%',"5($75CH&):

!"#$%&""'&()** +++,-./0123415,678 "(9&:2;/0-2</&=;/3>/?&@>2./&$##?&A/-.570.?&BC&#'((# CD2-&50/-/3.E.273&2-&37.&23./3</<&.7&F/&67851/./&</-6025.273&7G&.D/&6785E32/-&</-602F/<&370&7>0&/3.20/&570.G7127,&CD2-&2-& 37.&23./3</<&E-&E3&7GG/0&7G&E3H&-/6>02.2/-,

165

Stonehenge Partners is an Ohio!based junior capital firm that focuses exclusively on the middle market.

Founded in 1999, we have a long history of partnering with leading entrepreneurs and managers who are focused on building winning teams, accelerating growth, and creating shareholder value. We provide flexible capital that meets the needs of all stakeholders, including majority equity, minority equity, debt, and combinations thereof. We have raised more than $1.4 billion of committed capital and are currently investing out of our sixth institutional fund.

Overview

Senior Investment Team

Investment Structures

Andrew Bohutinsky, Managing Partner (614) 246!2434 afbohutinsky@stonehengepartners.com

• •

Target investment range of $10 million to $50 million Flexibility to invest subordinated debt, minority equity, control equity, or any combination

Peter Davies, Managing Partner (614) 246!2406 pgdavies@stonehengepartners.com

Industry Preferences • • • • •

Manufacturing Distribution Healthcare Services Business Services Avoid real estate and retail

Robert Eversole, Managing Partner (614) 246!2654 rmeversole@stonehengepartners.com Thomas Utgard, Managing Partner (614) 246!2436 trutgard@stonehengepartners.com

Situations • • • •

Michael Arguelles, Partner (614) 246!2490 marguelles@stonehengepartners.com

Management buyouts Leveraged acquisitions Recapitalizations Growth equity

Sean Dunn, Director (614) 246!2416 spdunn@stonehengepartners.com

Characteristics of Investment Candidates • •

• •

Proven management teams with properly aligned incentives Stable operating history with cash flow in excess of $2 million Strong & defensible position in a defined market or niche Compelling industry fundamentals

Current Fund •

Stonehenge Opportunity Fund V LP ! $375 million private equity fund

191 W. Nationwide Blvd., Suite 600 Columbus, OH 43215

166

Marc Elberson, Vice President (614) 246!2418 mcelberson@stonehengepartners.com Patrick Shevelson, Vice President (614) 246!2465 pbshevelson@stonehengepartners.com

(614) 246"2500

www.stonehengepartners.com

A6?6RBS'56IBA6/'I6RALVR; (#278$#2'5.98:.#';"#):8"0*'<"%':=2'/">2%'?8@@#2'?.%&2: F";"(%<&G"=%+">&H"(+#)(8&-IFGHJ0&%8&"&=(,K%D)(&,6&*"=%+">&+,&>,L)(&;%DD>)&;"(M)+&*,;="#%)8&"*(,88&+5)&N?O? FGH&%8&="(+&,6&+5)&F";"(%<&=>"+6,(;P&L5%*5&L"8&6,7#D)D&%#&4AA1P&"#D&%8&;"#"$)D&QE&8)"8,#)D&%#K)8+;)#+&=(,6)88%,#">8&+5"+& 5"K)&*7;7>"+%K)>E&%#K)8+)D&,K)(&R1?B&Q%>>%,#?&

A392*'"<' ;21)%8:82*

S N#%+("#*5)&')Q+ S O)*,#D&T%)#&')Q+ S O7Q,(D%#"+)D&U&!)99"#%#)&')Q+

S ')Q+&L%+5&V"(("#+8 S ')Q+&L%+5&H()6)(()D&WX7%+E& S ')Q+&L%+5&G,;;,#&WX7%+E&

A%.0*.1:8"0 A392*

S S S S

S S S S

B0C2*:D20:' 5%8:2%8.

S N?O?3Q"8)D&Q78%#)88)8&L%+5&W[`F'\&,6&&&&&&&&& Ra?B&b R4B&;%>>%,# S W<=)(%)#*)D&;"#"$);)#+&+)";8 S H(,K)#&5%8+,(%*">&=)(6,(;"#*)&"#D&=,8%+%K)& 6())&*"85&6>,L

S O*">"Q>)&Q78%#)88&;,D)>8&+5"+&Q)#)6%+&6(,;& ,=)("+%#$&>)K)("$) S G>)"(&;"(M)+&>)"D)(8&+5"+&D);,#8+("+)&"& 878+"%#"Q>)&*,;=)+%+%K)&"DK"#+"$) S c%$5&Q"((%)(8&+,&)#+(E

B0@)*:%3' ("1)*

S [78%#)88&O)(K%*)8 S `#D78+(%">&Z&_%*5)&!"#76"*+7(%#$ S G,#87;)(&H(,D7*+8&Z&O)(K%*)8

S F("#8=,(+"+%,#&Z&T,$%8+%*8 S d">7)3\DD)D&'%8+(%Q7+%,# S F)*5#,>,$EUO,6+L"()&Z&O,6+L"()3"83"3O)(K%*)

A3981.#' A%.0*.1:8"0

S [,((,L)(&O%9)e&&&&&&&W[`F'\&,6&Ra?B&b R4B&;%>>%,#f&Y)K)#7)&,6&R42&3 R422&;%>>%,# S `#K)8+;)#+&O%9)e&&&&RB&3 R1B&;%>>%,#P&L%+5&+5)&"Q%>%+E&+, %#*()"8)&";,7#+&+5(,7$5&TH&*,3%#K)8+

,8<<2%20:8.:8"0

S ]>)<%Q>)&%#K)8+;)#+&;"#D"+)&L%+5&"Q%>%+E&+,& %#K)8+&"*(,88&+5)&)#+%()&*"=%+">&8+(7*+7() S G()"+%K)&"==(,"*5&+,&8,>K%#$&*"=%+">&#))D8

Y)6%#"#*%#$8&U&Y)*"=%+">%9"+%,#8 !"#"$);)#+&Z&T)K)("$)&[7E,7+8 \*X7%8%+%,#&]%#"#*%#$8 O5"()5,>D)(&T%X7%D%+E&WK)#+8

^(,L+5&G"=%+"> _,#3O=,#8,()D&F("#8"*+%,#8 `#D)=)#D)#+&O=,#8,(&F("#8"*+%,#8 H(%K"+)&WX7%+E&["*M)D&F("#8"*+%,#8

S H"(+#)(&L%+5&;"#"$);)#+&"#D&,L#)(85%= S T,#$3+)(;&"#D&="+%)#+&*"=%+"> S g#)38+,=&8,>7+%,#

,")-#.*'/.01234'5(6 !"#"$%#$&'%()*+,( -.140&@1@3.ABC D>"#*)E:+";"(%<*"=%+">?*,;

!"#$%""&'("%)*+ !"#"$%#$&'%()*+,(& -./.0&12.342.4 56,(789:+";"(%<*"=%+">?*,;

!2.@E).%:2%*''F''GGH'I.%&'6C20)24'JK:= (#""%''F''L2>'M"%&4'LM'JNNOO'''''

'''''''''''''''

''''''''''''PPPQA6?6RBS56IBA6/Q5T?U5RV,BA

F5%8&%8&%#+)#D)D&6,(&=,+)#+%">&=,(+6,>%,&*,;="#%)8&,#>E&"#D&%8&#)%+5)(&"#&,66)(&+,&8)>>&#,(&"&8,>%*%+"+%,#&,6&"#E&,66)(&+,&Q7E&"#E&8)*7(%+%)8P&%#K)8+;)#+&=(,D7*+&,(&%#K)8+;)#+&"DK%8,(E&8)(K%*)8?&F5%8&%8&#,+&"#& ,66)(%#$&,(&+5)&8,>%*%+"+%,#&,6&"#&,66)(&+,&=7(*5"8)&"#&%#+)()8+&%#&"&67#D?&&F5)&%#6,(;"+%,#&=(,K%D)D&5)()%#&%8&78)D&6,(&%>>78+("+%K)&"#D&D%8*788%,#&=7(=,8)8&,#>E?&&]%#">&+("#8"*+%,#&+)(;8&;"E&K"(E?

167

!"#$%&

!"#$ &'(#'"()     

P-(JS(92%b1S9219%i%8=O%;=%U%<d 2D1S9219j-(9(HQ$NQ1$ _%W765VX45e7Va

I#"-(#"+ !F9@ P"B( P(Q-1#2 Y(1,#+JSA *(+$

    

*+#,(-%./+-01#$2%10%345367 8"//"19 10 :;<*=>?%+@@5192%10%+9A 2"B(%C$+D1#"-A%(EF"-AG *(9(H I+J"-+/ .+#-9(#2 <K CL7L6GM 3LN7 ;"//"19 ="'(#2"0"(@%<9@F2-#"+/2O P(#'"Q(2O R(+/-SQ+#( TNPN%U%I+9+@+ X 4V%.#10(22"19+/2%+9@ LW%&J(#+-"9,%>@'"21#2

IF##(9- <9'(2-$(9-2 ="'(#2"0"(@ <9@F2-#"+/2

^(+# <9'(2-(@

>@@5192 I1$J/(-(@

=(2",9(#%_%2FJJ/"(#%10%@"'(#2(%J#1$1-"19+/%J#1@FQ-2O%J#"$+#"/A%)"-S"9%S+#@,11@2

L7X`

a

=(2",9(#O $+9F0+Q-F#(#O +9@%@"2-#"ZF-1#%10%(HS"Z"-2O%@"2J/+A2O%2",9+,(O +9@%,#+JS"Q2

L7Xa

4

8+9F0+Q-F#(#%10%2)((-%Z+\(@%,11@2%\91)9%01#%"-2 S+9@S(/@ 29+Q\%J"(2%C@Z+%bbc2 ;+\(#AG

L7LX

X

.#1'"@(#%10%J+J(#5Z+2(@%2J(Q"+/-A%J+Q\+,"9,%21/F-"192O%"9Q/F@"9,%01/@"9,%Q+#-192O%Z/"2-(#%J+Q\+,"9,O%+9@%/+Z(/2

L7LL

L

[(+@"9,%#(,"19+/%@"2-#"ZF-1#%J#"$+#"/A%10%J/F$Z"9,%+9@ RK>I%2FJJ/"(2

L7L6

5

^(+# <9'(2-(@

>@@5192 I1$J/(-(@

P(#'"Q(2 Cd(2"@(9-"+/ U ;L;G ;L;

.#1'"@(#%10%-S"#@%J+#-A%+@$"9"2-#+-"19%C*.>G 2(#'"Q(2 -1 *+0-5R+#-/(A Q/"(9-2

L7XW

4

;L;

.#1'"@(#%10%($J/1A((%#(Q1,9"-"19%21/F-"192%-S#1F,S "-2%J#1J#"(-+#A%4`7%d(Q1,9"-"19%J/+-01#$

L7Xa

`

;L;

.#1'"@(#%10%-(#$"9+/O%Q+Z"9O%#+$JO%Q+#,1O%+9@ 2(QF#"-A 2(#'"Q(2 -1 -S(%TNPN%+"#/"9( "9@F2-#A

L7L7

L

;L;

d($1-(%2-+00"9,%Q1$J+9A%J#1'"@"9,%+22"2-+9-2O%Z11\\((J(#2O%)(Z2"-(%2J(Q"+/"2-2O%U%21Q"+/%$(@"+ 2-#+-(,"2-2

L7LX

4

;L;

=","-+/%QF2-1$(#%+QEF"2"-"19%J#1'"@(#%-1 -S(%$1#-,+,(O%"92F#+9Q(O +9@%S1$(%2(#'"Q(2 $+#\(-

L7LX

5

;L;

.F#J12(5ZF"/-O%Q/1F@50"#2- 8P.O @(2",9(@ -1 @(/"'(# -S(%Z(2-%21/F-"192%-S+- +/",9 <* 9((@2 -1%ZF2"9(22%1F-Q1$(2

L7LL

6

d(2"

.#1'"@(#%10%S",S5(9@%#(,"19+/%#(2"@(9-"+/%/+9@2Q+J"9,

L7LL

LV

;L;

.#1'"@(#%10%J+#\"9,%/1- $+"9-(9+9Q( +9@ #(J+"# 2(#'"Q(2 -1%ZF2"9(22(2%-S#1F,S1F-%-S(%TNPNO%I+9+@+O +9@ .F(#-1 d"Q1

L7LL

e

d(2"

;(2-5"95Q/+22%.11/%P(#'"Q( +9@ 8+"9-(9+9Q(%ZF2"9(22O%)S"QS QF##(9-/A "2 -S( /+#,(2-%J/+A(#%"9 -S( =!f $+#\(-

L7L4

`

d(2"

8F/-"5#(,"19+/%J#1'"@(#%10%@"2+2-(#%$"-",+-"19O%#(2-1#+-"19%U%2-#FQ-F#( Q/(+9"9, 2(#'"Q(2 -1%Q1$$(#Q"+/_#(2"@(9-"+/

L7L4

V

;L;

[(+@"9,%J#1'"@(#%10%(9-(#J#"2(%2(QF#"-A%U%/"0( 2+0(-A%-(QS91/1,A%21/F-"192

L7L4

V

d(2"

d(2"@(9-"+/ 2(#'"Q(2%J/+-01#$%01QF2(@%19%+QEF"#"9, #(2"@(9-"+/ RK>IO%J/F$Z"9,O%+9@ (/(Q-#"Q+/ 2(#'"Q(%Q1$J+9"(2

L7L4

`

d(2"

d(2"@(9-"+/%01F9@+-"19%#(J+"#%+9@%Z+2($(9-%)+-(#J#110"9,%2(#'"Q(2

L7L6

5

^(+# <9'(2-(@

>@@5192 I1$J/(-(@

I1$J+22%R(+/-S ;#+9@2 "2%+ %$+9F0+Q-F#(# +9@%@"2-#"ZF-1#%10%S1$(%$(@"Q+/%(EF"J$(9-%+9@ #(/+-(@%J#1@FQ-2

L7X4

`

=(9-+/ 2(#'"Q(%1#,+9"B+-"19%)"-S 4W Q/"9"Q2%1J(#+-"9,%+Q#122%I(9-#+/%!/1#"@+

L7XW

LX

.#1'"@(#%10%J#10(22"19+/%2-+00"9,O%01QF2(@%19%S",S5(9@_-(QS9"Q+/%#1/(2%+Q#122%/"0( 2Q"(9Q(2O (9,"9((#"9,O%U%-(QS

L7LX

X

.#1'"@(#%10%(+#/A5"9-(#'(9-"19O%>JJ/"(@%;(S+'"1#+/%>9+/A2"2 Cg>;>hG%-S(#+JA%01#%+F-"2-"Q QS"/@#(9

L7L6

5

R(+/-SQ+#(

*S(%"901#$+-"19%S(#("9%"2%Z("9,%J#(2(9-(@%01#%"901#$+-"19+/%JF#J12(2%19/AN%*(9(H%I+J"-+/%8+9+,($(9-O%[N.N%@1(2%91-%$+\(%"9'(2-$(9-%$+9+,($(9-%2(#'"Q(2%+'+"/+Z/(%-1%-S(%JFZ/"QN%T9@(#%91%Q"#QF$2-+9Q(2%2S1F/@%+9A%"901#$+-"19% Q19-+"9(@%S(#("9%Z(%Q192"@(#(@%+2%+9%100(#%-1%2(//%1#%+%21/"Q"-+-"19%10%+9A%100(#%-1%ZFA%+9%"9-(#(2-%"9%+9A%"9'(2-$(9-%0F9@%$+9+,(@%1#%+@'"2(@%ZA%*(9(H%I+J"-+/%8+9+,($(9-O%[N.NO%1#%+9A%1-S(#%J1-(9-"+/%"9'(2-$(9-%1JJ1#-F9"-"(2N% *(9(H%"2%91-%QF##(9-/A%$+#\(-"9,%+9A%0F9@%1#%0F9@%1JJ1#-F9"-"(2N%PJ1921#%+/",9$(9-%"2%Z(2J1\(%J(#%"9'(2-$(9-%1JJ1#-F9"-A%+9@%-S(%+Z1'(%"2%91-%"9@"Q+-"'(%10%+9A%QF##(9-%-(#$2%1#%100(#"9,2N% XN%&J(#+-"9,%>@'"21#2%+#(%]&*%>00"/"+-(2%10%*(9(HN%*S(A%+#(%#(-+"9(@%+2%!F9@%+9@%J1#-01/"1%Q1$J+9A%#(21F#Q(2N%*S(%Q1$J(92+-"19%10%2FQS%"9@"'"@F+/2%+2%)(//%+2%(HJ(92(2%#("$ZF#2(@%)"//%,(9(#+//A%Z(%Z1#9(%ZA%-S(%#(/('+9-%!F9@%1#% J1#-01/"1%Q1$J+9A%)"-S%#(2J(Q-%-1%)S"QS%2FQS%+@'"21#%J#1'"@(2%Q192F/-"9,%2(#'"Q(2O%+9@%2FQSO%Q1$J(92+-"19%+2%)(//%+2%+9A%0((2%#(Q("'(@%0#1$%J1#-01/"1%Q1$J+9"(2O%)"//%91-%1002(-%-S(%$+9+,($(9-%0((2%J+A+Z/(%ZA%-S(%["$"-(@% .+#-9(#2%10%-S(%+JJ/"Q+Z/(%!F9@N%

168

169

!"!"3N3(<=&3.:@:TE<>3G31FP3UV3P?EL:9>3>CDE9M3;EA9

!"!"3N3!$(3-P>?:9EF<:;3$Q=>;;><=>3"R:?S3G$$$$$ SD:;3?>=EPE><9

!"!(3N3.B"3+>:;3FH39I>30>:?3"R:?S

!"!!$%$.>?@>?A3B3"=CDEAE9EF<A3N32F<F?:O;>3 .><9EF<3

!"!!$%$!$(3-P>?:9EF<:;3$Q=>;;><=>3"R:?S3

!"!!$'$",#3+>:;3FH39I>30>:?

!"!&$%$.>?@>?A3B3"=CDEAE9EF<A3N32F<F?:O;>3 .><9EF<3

!"!&$%$.>?@>?A3B3"=CDEAE9EF<A3G3J>A93!;:=>A39F3 %F?K3E<3!?EL:9>3$CDE9M

!"!#$%$.>?@>?A3B3"=CDEAE9EF<A3G3+>:;3FH39I>30>:?

!"#$%&'(%)(*+,%-."$"%.

"93:3#;:<=>

'EL>?AES>3I:A3I>;S3PF?9HF;EF3=FWP:<E>A3:<3:L>?:@>3FH33 <@<$70>*: !

!"#$

(#"=$=D??><93P;:9HF?W3PF?9HF;EF3=FWP:<E>A !

!"'1/$'*2(!3&3#'-%123&3(/1$#'(10

(D"""=$/190:-;01-:$:<S3!#"=$*0>4/E>-/+1:$AE<=>38XYY3

!

%%%&'()$'*(+$,-.!"/0&,-.

&""=$A*+B0::/+1>4:$:=?FAA3B+C*$8+1-/101-:$

?(&@!$6/44/+1$E<3:AA>9A3D<S>?3W:<:@>W><93

! !

&<=$70>*:$S>SE=:9>S39F3AW:;;3=FWP:<M3E<L>A9W><9A3

3405/6/4/-7 9F3W:K> 8+1-*+4 :<S 1+1%8+1-*+4 /190:-;01-:

! !

)*+,-.%+*/01-02 E<L>A9F?3

!

8

'()$'*(+$34$"+$'*2(!3*5..(1363!"'13-7312$3'()$'*(+$35/()$'*(103!'-#'".

!"#$%&'(')*#&+(,$'"$#'!"#$%& '()*+$,& -).(/*0()*& 1//23#4*(/& --5& 6E7E& ^_!'-1& --_`& 04)4N(/& 3200#**(%& H$#.4*(& (G+#*,& 34H#*4B& F2$& /#N)#F#34)*& #).(/*0()*/&#)&/04BB&O+/#)(//(/E&Y(&#).(/*&43*#.(B,&#)&H4$*)($/"#H&D#*"&2H($4*#)N&320H4)#(/&4)%&04)4N(0()*&*(40/&B234*(%& #)& *"(& M)#*(%& >*4*(/& 4)%& '4)4%4E& a+$& *(40& *4$N(*/& H$2.()& O+/#)(//(/& #)& /H(3#4B#P(%& /(3*2$/& D"($(& D(& D2$V& *2& O(320(& 4%.4)*4N(%&#).(/*2$/&*"$2+N"&(X#/*#)N&2$&43G+#$(%&(XH($*#/(E&Y(&4$(&4&%#/3#HB#)(%5&H$23(//J%$#.()&H4$*)($/"#H5&F23+/(%&2)& B2)NJ*($0&F+)%40()*4B/E&a+$&0#//#2)&#/&*2&O+#B%&/+/*4#)4OB(&O+/#)(//&.4B+(5&(4$)&4&/+H($#2$&$(*+$)&4)%&%(.(B2H&4&O(/*J#)J 3B4//&$(H+*4*#2)&D#*"#)&*"(&04$V(*/&D(&/($.(E&!"#$%&'()*+$,&32)3()*$4*(/&2)&O+/#)(//&/#*+4*#2)/&#).2B.#)N&/34B4OB(&N$2D*"5& 4%(G+4*(&%2D)/#%(&H$2*(3*#2)&4)%&2HH2$*+)(&#)%+/*$,&*$()%/&2$&2*"($&/H(3#4B&F2$3(/E&&Y(&O4B4)3(&4&*"2+N"*F+B5&*"(04*#3& 4HH$243"&*2&)(D&04$V(*&()*$,&D#*"&32)/#%($4*#2)&F2$&4**$43*#.(5&N()($4B#/*&2HH2$*+)#*#(/&4/&*"(,&4$#/(E&a+$&3$#*($#4&F2BB2DQ& 02345678(&892 &:5;27(!25<=5>:?32 @2=;5:9A63(B=34C '3=?=>63(,D?25CA69 !:57?25CA69C

'2002)&2$&7$(F($$(%&=G+#*, '20H4)#(/&D#*"&I8&0#BB#2)&J&I?9&0#BB#2)&2F&=K-!L1 M)#*(%&>*4*(/&4)%&'4)4%4 '2)*$2B&2$&/"4$(%&32)*$2B&D#*"&4HH$2H$#4*(&$#N"*/ !"#$%&'()*+$,&#).(/*/&4B2)N/#%(&O+/#)(//&2D)($/5&04)4N(0()*&*(40/5& (/*4OB#/"(%&(G+#*,&N$2+H/5&/(4$3"&F+)%/5&4)%&#)%(H()%()*&/H2)/2$/&*2& 3$(4*(&B2)NJ*($0&H4$*)($/"#H/

E=F25:;2(%52:C

L#.($/#F#(%&K+/#)(//&4)%&-)%+/*$#4B&>($.#3(/& >H(3#4B#P(%&>($.#3(/Q&-!5&R(4B*"34$(5&S#)4)3#4B L#/*$#O+*#2)&4)%&62N#/*#3/ 6#N"*&T4)+F43*+$#)N -)%+/*$#4B&4)%&'2)/+0($&7$2%+3*/ 6#G+#%#*,&4)%&N$2D*"&34H#*4B&F2$&32$H2$4*#2)/5&()*$(H$()(+$/5&H4//#.(& #).(/*2$/5&F40#B,&2FF#3(/&4)%&(/*4*(/&#)&*"(&F2$0&2F&04)4N(0()*&O+,2+*/5& 32$H2$4*(&%#.(/*#*+$(/5&$(34H#*4B#P4*#2)/5&)(D&O+/#)(//&HB4*F2$0/&4)%& N()($4*#2)4B&4//(*&*$4)/F($/

&5:?C:376=?(&892C

G:?:;2>2?7(&2:>C #?F2C7>2?7(02H2376F678 E=59=5:72(@=F25?:?32

7$2.()5&#)&HB43(&4)%&H$(H4$(%&*2&H4$*)($ MH&*2&8&3200#*0()*/&4))+4BB, -)&32)U+)3*#2)&D#*"&2+$&04)4N(0()*&H4$*)($/&4)%&$(B4*#2)/"#H&)(*D2$V5& !"#$%&'()*+$,&D2$V/&*2&HB43(&G+4B#F#(%&#)%(H()%()*&%#$(3*2$/&2)&2+$& H2$*F2B#2&320H4),&O24$%/

.'%/'"01#! !"#$%&'()*+$,&H$#)3#H4B/&"4.(&2.($&WA&,(4$/&32BB(3*#.(&(XH($#()3(&#)&H$#)3#H4B&#).(/*#)N5&32$H2$4*(&F#)4)3#4B&4%.#/2$,5&4)%& /*$4*(N#3& 32)/+B*#)NE& Y(& "4.(& 4& "#/*2$,& 2F& O+#B%#)N& O+/#)(//& .4B+(& F2$& 2+$& H2$*F2B#2& 320H4)#(/5& 04)4N(0()*& *(40/5& 4)%& B#0#*(%&H4$*)($/E&&& 7$(/*2)&T2#/*($& S2+)%($&Z&T4)4N#)N&L#$(3*2$& H02#/*($[*"#$%3()*+$,E320& L#$(3*Q&@9@E\WAE8WWA&X?

]2(B&-NB("4$*& T4)4N#)N&L#$(3*2$& U#NB("4$*[*"#$%3()*+$,E320& L#$(3*Q&@9@E\WAE8WWA&XW

!"#$%&'()*+$,&-).(/*0()*&1//23#4*(/ --5&67 89:9 7(43"*$((&;24%&<=&– >+#*(&?@:A5&1*B4)*4&C1&8989A DDDE*"#$%3()*+$,E320

170

Focused on Founder-Led Businesses.

Creating Value by Supporting Growth.

Thompson Street Capital Partners is a St. Louis-based private equity firm focused on investing in middle-market businesses.

Industry Verticals

Partnership Approach

•

Outsourced Services

•

Healthcare IT

•

Lab Supplies & Services

•

Pharma Services

•

Research & Diagnostic Tools

their vision.

•

Data Analytics

•

Decision Support

SPENCER KUPFERMAN. PKWARE

•

Data Protection & Management

•

Information Services

•

Vertical Software

•

Digital Transformation

•

Managed Services

•

TIC & Maintenance (Facility Services)

•

Engineered Products

•

Consumer Enthusiast

•

Non-discretionary Consumer Services

… with Thompson Street Capital

LIFE SCIENCES & HEALTHCARE

Partners, I know that when I’m in the trench with them … our interests are aligned, I’m confident in their abilities and their wisdom and

SOF T WARE & TECHNOLOGY

Thompson Street says what they mean and they stand by it. From day one, what they said they would do, they did.

PRODUCTS & SERVICES SCOTT THOMAS. REVENUE MANAGEMENT SOLUTIONS

Deal Origination Contacts Jack Senneff

Ray Wagner

Kelly Wittenbrink

Katie Smith

Steven Emde

Managing Director

Managing Director

Vice President

Associate

Associate

E: jsenneff@tscp.com O: (314) 446-3313 M: (314) 363-7385

E: rwagner@tscp.com O: (314) 446-3315 M: (618) 444-4032

E: kwittenbrink@tscp.com O: (314) 446-3319 M: (314) 477-5412

E: ksmith@tscp.com O: (314) 881-1007 M: (314) 359-5480

E: semde@tscp.com O: (314) 881-1003 M: (636) 399-9038

7676 Forsyth Blvd. Suite 2700 St. Louis, MO 63105 I (314) 727-2112 I TSCP.COM

171

,-. 6&/',$*+$))<+'8$*=(78(/$-

/0 >$()-*!)"-$8*+'7&$*?(7*@A@B

16F"#2'C%7"#2)4'56*&)9@&

!"##$%&'()*+$%,'&$-* .(&')'/0*+$%,'&$.'%$*1*2'3$*+(3$/0* 456!

2(78-&(9'7: ;""3'7:

✓ ✓ ✓ ✓ ✓ ✓

CE')8'7:*G%"8E&/-* !(9'/()*NQE'9#$7/* !M$#'&()-* >'-/%'KE/'"7* NQE'9#$7/*;$7/()*O*>$()$%-* .(&')'/'$-* =(7E3(&/E%'7: G(9$%*1*G(&D(:'7:* G"L$%*1*R/')'/'$H(/$%*1*H(-/$

✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

8&+?%636@4 ✓ ✓ ✓ ✓

C(D$%0 .""8*=(7E3(&/E%'7: 4"#$*1*F(%8$7*G%"8E&/G$/-* H$))7$--*1*IE/%'/'"7* $!"##$%&$

Sell-Side 92%

53$&%2'IJ%&)#?$K

B&932?+9)&

C%7"#2)$93#'D'C%E)9#2)"+2")&' ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

BuySide 8%

56%#">&)

!"#$%&##'(&)*$+&# ✓ ✓ ✓ ✓ ✓ ✓

=:;'GH&+"2$6%

Public Company 11%

C$M(,'"%()*4$()/M >=N*O*4=N .(&')'/'$-* >'-/%'KE/'"7 !"7/%(&/*=(7E3(&/E%'7: 4"#$*4$()/M =$8'&()*>$,'&$GM(%#(*=(7E3(&/E%'7: G)(-/'&*+E%:$%0*O*=$8+9( GG=*O*>+P

Family / Founder Owned 42%

!"4&)'=$H Public Company 19%

A$%9%+$93'(&)*$+&#

J7/$%7$/*J73%(-/%E&/E%$* =(7(:$8*+$%,'&$*G%",'8$%=(7E3(&/E%'7:*1*6--$#K)0* I$/L"%D*1*+$&E%'/0*

✓ ✓ ✓ ✓

Financial Sponsor 47%

C(7D.'7/$&M J7-E%(7&$ ;$()*N-/(/$*+$%,'&$-

Financial Sponsor 45%

Private Company 36%

1&+&%234'536#&7'8)9%#9+2$6%#':'(&3&+2';+2$*&'(&33<#$7&'=9%792&# JI*G;P!N++

JI*G;P!N++ JI*G;P!N++

JI*G;P!N++ JI*G;P!N++

JI*G;P!N++

JI*G;P!N++

NS&)E-',$*+()$

NS&)E-',$*+()$

NS&)E-',$*+()$

NS&)E-',$*+()$

NS&)E-',$*+()$

67*NIUT*())$%:0T*(78* 9)(-/'&*-E%:$%0*9%(&/'&$* (78*(#KE)(/"%0*-E%:$%0* &$7/$%

J78$9$78$7/* #(7E3(&/E%$%*"3* &"%%E:(/$8*9(&D(:'7:

C%(78$8T*K$//$%<3"%<0"E* -7(&D*(78*&"73$&/'"7(%0* K%(78*-$))'7:*/"*%$/(')$%-* (78*>U!*'7*/M$*R+*(78* '7/$%7(/'"7())0

+E99)'$%*"3*9"L$%* #(7(:$#$7/*-0-/$#-*3"%* 8(/(*&$7/$%-

C(D$%0*9)(/3"%#*"33$%'7:*(*3E))* (--"%/#$7/*"3*3%$-M*(78*3%"V$7* K%$(8*9%"8E&/-*/"*3""8-$%,'&$* (78*%$/(')*&E-/"#$%-

L1IMG58';LL;PII(;

L1IMG58 !G1=NO;

L1IMG58 5B;1PI88G

L1IMG58 5PIQG1

L1IMG58'RSG;O

WE ARE TRUE PARTNERS | WE ARE COMMITTED | WE ARE THOUGHTFUL | WE ARE CREATIVE | WE ARE WORTHY OF TRUST

172

Overview

Target Industries

Total Commitments $1.5B+

Current Fund $750M (Fund III)

Investments 23 Platforms 44 Add-Ons

GP Commitment $75M (Fund III)

Business Services

Infrastructure Services

Industrials

Tech-Enabled Services

Technology

Specialty Manufacturing

Aerospace & Defense

Energy Services

Consumer Products & Services

Investment Criteria Family & Founder Owned Businesses

Control Investments

$5M - $30M EBITDA

$30M - $75M Equity Checks

US & Canada HQ

Strong Management Teams

Meaningful Equity Rollover

History of Revenue Growth

Partnership Approach ▪ ▪ ▪

Prioritize growth through alignment of strategic initiatives and add-on acquisitions; conservative capital structure Current management team continues to lead the business; significant option plan for key employees Meaningful rollover of equity from sellers/management into the same security as Tower Arch

About Tower Arch Tower Arch Capital is a Salt Lake City, Utah-based middle market private equity firm focused on alignment with management teams and sellers with a partnership first mentality. Tower Arch was founded in 2013 and is currently investing from a $750M fund. Tower Arch G.P. is the largest investor across the three funds, followed by former management teams.

Tower Arch has been recognized on Inc’s List of Founder-Friendly Investors for all six years since the list’s inception. (2019, 2020, 2021, 2022, 2023, 2024)*

Team David Calder Partner dcalder@towerarch.com (801) 285-6999 Jim Allred Principal jallred@towerarch.com (801) 316-0228

Rhett Neuenschwander Partner rhett@towerarch.com (801) 997-5945 James McKean Principal jmckean@towerarch.com (801) 285-0656

David Parkin Partner dparkin@towerarch.com (801) 997-5946

Phil Morgan Vice President pmorgan@towerarch.com (801) 340-1964

Ryan Stratton Partner rstratton@towerarch.com (801) 997-8466

McKay Potter Vice President mpotter@towerarch.com (801) 441-0363

Madi (Lang) Sykes Vice President msykes@towerarch.com (801) 810-1456

David Topham Partner dtopham@towerarch.com (801) 997-5948 Drew Topham Vice President drew@towerarch.com (801) 290-8378

14034 South 145 East Suite 300 | Draper, Utah 84020 | (801) 997-5808 | www.towerarch.com *The Founder Friendly Investors award was granted by Inc. Magazine. The award determination of Inc. Magazine is based on its assessment of internal criteria for each year. Such opinions and beliefs are subjective in nature. Tower Arch Capital paid an application fee to be considered in connection with its receipt of this award.

173

174

175

"#$%&'$(&)!*(%+!,-.&/'$0-*&'/!1.2(&'22'2!,-$!34!5'#$2

▪ !"#$#%& ()$% *+"%$,"- #- + .+//+-0 !1 2+-,3 4"56%785"#,$%,3 9"#:+%, ,;)#%& <#"= <5>)-,3

M25)%

5$ 9+"%$,"#$4 6#%7 2)-#$,-- 56$,"- %5 2)#/3 65"/38>/+-- 2)-#$,--0 7,+/%7>+",0 +$3 >5$-)=," -,":#>,- >5=9+$#,-

▪ !"##$%&'( *%+$,&*%- ."& ./ 0"%1 2334 5677 8*''*.% ▪ 9:#-$& ;':&/.#8 <=39>? ,*@$ ./ ?@A =#//#5$ ▪ A:8$1 :, .%$ ./ &B$ 8.,& /."%1$#C/#*$%1'( D< /*#8, E( 3%FG H:-:@*%$ 6-&2.7'$!2'$8(6'2

1.2(&'22!2'$8(6'2

S$3)-%"&' R5>)-

▪ 0:F*'*&(W!.88$#F*:')N$#+*F$,) ▪ H:#X$&*%-)N$#+*F$, R>.FX)Y)>..#4)Z+$#B$:1) ▪ !])N$#+*F$,)) !#:%$)N$#+*F$,4)H:&$#*:') L:%1'*%-4)!'$:%*%-T) ▪ ^$-:')N$#+*F$,) ▪ <%-*%$$#*%-)N$#+*F$, R[&*'*&(4) ▪ >*,&#*E"&*.%)R0#$,B)0..14) 3%/#:,&#"F&"#$4)D.M$#)Y) <'$F&#*F:')0*$'1)N$#+*F$,T)

▪ \$,*1$%&*:')N$#+*F$, ▪ 9."#)Z;$#:&.#,)

D:FX:-*%-4)_:%WN:%4)L2?!T)

▪ !C!'.,$%+/ – !"#$%&'()(*$%&+$,-.*(/)&0.,1(#.0 ▪ D,"$3+/, – 2()(*$%&#30*"+.,&.45.,(./#.&6789&0.,1(#.0

▪ E5F,"'G"5)9 – :.$%*;#$,.&#"/03%*(/)& ▪ E,$%"#>#%&'H,-,+">7 – 7%(/(#$%&,.0.$,#;&0(*.0& ▪ C,IE5", – 7"++.,#($%&:<=7 ▪ J)9",=,'K9%#=#L+%#5$ – !(>.&0#(./#.0&+$,-.*(/)&0.,1(#.0&

*5"%<5/#5' E5=9+$#,-' J,,F#$4' M338K$-

▪ J9"#$4/#$, M3:#-5"& – =##"3/*(/)&$/'&$'1(0",?&0.,1(#.0& ▪ D#-%,""+ N+$3->+9,'G"5)9 – 7"++.,#($%&%$/'0#$5(/)& ▪ *+"+//,/ – @AB&C&$%%.,)?

▪ M4#%+/ – 2()(*$%&+$,-.*(/)&0.,1(#.0 ▪ .,/:, – D,"'3#*&'.0()/&C&./)(/..,(/)&0.,1(#.0 ▪ O$#%&'PJQ – E,*;"5.'(#F&5"'($*,?&C&5$(/&+)+*G&;.$%*;#$,.&0.,1(#.0 ▪ R/,,%'H,-%5"+%#5$ – H.0*",$*("/&0.,1(#.0 ▪ M"4+$5 – @/*.,5,(0.&0">*I$,.&(+5%.+./*$*("/&0.,1(#.0 ▪ .+%+9"#-,' – JB&+$/$).'&0.,1(#.0& ▪ S=9"5:#$4 – 730*"+&0">*I$,.&'.1.%"5+./*&0.,1(#.0&

E5$%+>%Q))NF.&&)!.'+$#&4)D:#&%$# ,F.'+$#&V&#*%*&(B"%&GF.8

176

IJK7)A)L:#M..14)N"*&$)O6774)>:'':,4)9$P:,)6KI7O DB.%$Q)RIOST)666CUU77)))))))))666B%"#$#%&7)$%B>5=

INVESTMENT CRITERIA

ABOUT US Trive Capital is a Dallas, Texas based private equity firm with over $7 billion in regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement.

We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas in a collaborative partnership with management teams.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $10 billion in revenue across Trive’s targeted industry sectors and situations.

WHY TRIVE? Excel in Complex Situations

• Global Mandate -

$40 million - $1.5 billion of revenues

-

Invest $10 - $300 million of equity and/or debt per platform • Differentiated and diversified products or services • Defensible market position with sustainable competitiveness • Actionable near-term operational improvement opportunities SITUATIONAL FOCUS

• �omple� special situations in out-of-favor� but protected niches • �nder-resourced or in need of additional capital

Trive seeks opportunities in complex situations, including family-owned businesses, corporate carve-outs, and distressed transactions, in which speed and certainty to close may be a priority. The firm’s professionals have considerable experience structuring, financing, and closing middle-market transactions in unique circumstances.

Value-Added Partner The Trive professionals invest with an operational mindset. The team has extensive operational backgrounds and aims to serve as a collaborative partner and value-added resource to management teams. While every situation is different, the Trive team often takes an active role in developing and implementing the operational strategy. In addition, the firm has a large network of operators in a number of industries that can serve as a further source of guidance.

Avoid Excessive Risk Taking Trive strives to create value in investments through developing and implementing a shared strategic vision on how to maximize business potential. In doing so, the firm builds value through time-tested operational best practices and prudent capital deployment without relying on excessive amounts of leverage or unnecessary business risk.

• �orporate carve-outs or orphaned divisions • �ake privates of undersi�ed public companies INDUSTRY FOCUS

• Aerospace� Defense � Gov�t �ervices • Automotive � Aftermarket • �uildin� �roducts • �usiness �ervices • �hemicals • �onsumer �roducts • �ducation • �n�ineerin�� �onstruction � Infrastructure • �ner�y • �inancial �ervices • �estaurant� �ood � �evera�e • Gamin� • General Industrial • �ealthcare • �eisure � �ntertainment • �lastics � �acka�in� • �eal �state • �etail • �echnolo�y� Media � �elecom • �ransportation � �o�istics

SENIOR INVESTMENT TEAM

Conner Searcy �������� ������� �����������������������������

Chris �ugaro ������� ����������������������������

�a�id Stinnett ������� ������������������������������

Blake Bonner ������� ����������������������������

Shra�an Thadani ������� �������������������������������

Andrew Frank �������� �������� ����������������������������

Tanner Co�e �������� �������� ���������������������������

Jared �eyes �������� �������� ���������������������������

�ric Hsu �������� �������� ������������������������

La�anya �o �������� �������� ��������������������������

Hunter Todd �������� �������� ���������������������������

Jay �ise ���� ��������� ������������������������

Cale� �eterson ���� ��������� ������������������������������

�iya �atel ���� ��������� ��������������������������

�ick �rturkuner ���� ��������� �������������������������������

Walker Tiller ���� ��������� �����������������������������

Amy �u ���� ��������� ����������������������

Carter Fine ���� ��������� ���������������������������

�e�in Lee ���� ��������� �������������������������

�arun �arikh ���� ��������� ����������������������������

Howard Armistead ���� ��������� ��������������������������������

John Hamilton ���� ��������� �����������������������������

Brad Wiginton �������� �������� � ���� �� �������� ����������� �����������������������������

Jeff Leatherman �������� ����������� �������������������������������

�atie Cre�eau �������� ����������� �����������������������������

2021 McKinney Avenue, Suite 1200, Dallas, TX 75201 214.499.9715

www.trivecapital.com

177

WWW.TRUE!ORTHCP.COM

TrueNorth provides advisory services to companies seeking advice for middle-market M&A and financing transactions. Our focus on the middle-market enables us to provide independent, value-added advisory services to privately held companies and corporate clients, both domestic and international, across a broad range of industries.

Services Comprehensive middle-market advisory services: - Mergers & Acquisitions – including both sell-side and buy-side M&A representation - Capital-Raising

Middle-Market Focus Highest Standards & Integrity

Overview

- Restructuring - Valuations and Fairness Opinions Client-First !""#$%&'

(Scout Valuations) - Strategic Planning and Alternatives

Independent Boutique

International Reach

Expertise in Restructuring & Complex Transactions

Broad Range of Experience, Capabilities, & Networks Senior Banker Delivery Model

The TrueNorth team of senior dealmakers possess a diverse range of transactional, industry, and professional experience. These attributes, combined with our national coverage, international reach, and senior bankers’ commitment to detail in leading each assignment, provide for the best possible service and outcome for each client.

Connecticut 9 West Broad Street | Suite 510 Stamford CT 06902 Main 203.604.2007 | Fax 203.595.5891 Rob Africk Managing Director rdafrick@truenorthcp.com | 203.817.0280 Mark Campbell ManagingDirector/ ScoutValuations mcampbell@truenorthcp.com | 203.817.0287 Caleb Chu Managing Director cchu@truenorthcp.com | 203.547.8096 Mark Crouch Managing Director mcrouch@truenorthcp.com | 913.320.2674 Jeff Gaynor Managing Director - Founder jgaynor@truenorthcp.com | 203.817.0277 Michael Hunter Managing Director mhunter@truenorthcp.com | 203.817.0281 Dean Miltimore Managing Director dmiltimore@truenorthcp.com | 203.817.0278 Yuka Kimoto Director ykimoto@truenorthcp.com | 646.249.4009 David Reilly Managing Director dreilly@truenorthcp.com | 203.817.0282 Clay Risher Director - Business Development crisher@truenorthcp.com | 203.817.0286

Our services are differentiated in several respects, including our international reach and cross-border transaction expertise. Our bankers have substantial experience in international markets and executing cross-border transactions, and we continually seek to leverage this competitive advantage for the benefit of our clients. This international reach creates additional transaction options, enabling our clients to maximize shareholder value. Our success in maximizing shareholder value is evidenced in the substantial proportion of our transactions that have included a cross-border component.

Clients Frequently Include: - Owners of privately held middle-market companies

Fred Rossetti Managing Director - Founder frossetti@truenorthcp.com | 203.817.0276

- Middle-market companies seeking to raise growth-capital or recapitalize their balance sheet

Yoshi Togo Managing Director ttogo@truenorthcp.com | 203.817.0284

- Corporations seeking to divest of a subsidiary or division, or acquire a middle-market company

Minnesota Bill Jarrett Managing Director bjarrett@truenorthcp.com | 612.808.8630

!ew Jersey Andrew Bess Managing Director abess@@truenorthcp.com | 203.604.2007

South Carolina !ick Chapman Managing Director nchapman@truenorthcp.com | 843.534.5988

Europe Michael Wellman Managing Director-UK mwellman@truenorthcp.com | 203.817.0288

Singapore Jonathan Chee Managing Director jchee@truenorthcp.com | +65.9722.2226

Japan Matt Kodama Managing Director mkodama@truenorthcp.com | 81.806.742.2293

- Large multinational corporations seeking strategic acquisitions in North America

- Private equity/family office groups seeking to sell or acquire a portfolio company, or make an add-on acquisition Transactions As a client-focused firm, TrueNorth brings to each assignment the benefit of our diverse transactional perspectives, experiences, and networks. Our senior bankers supplement TrueNorth’s substantial industry and transaction experiences by doing the work to understand in detail the business, niche, and target markets of our client or, for a buy-side engagement, our client’s acquisition targets. Thus, we enter into each transaction process highly experienced, fully prepared, and solely focused on maximizing shareholder value for our clients.

TNCP, LLC member FINRA/SIPC

178

<=>?@AB<CCDEDFG

!"#$!$%&'(&")'*)+,'-' ($./+0&1'2$((&3'4&!.

342/5/6(*7"%)*4"8/2/"&*/&*29(*:";()*,/''<(*,-)=(2*;/29* intermediary-led and proprietary deal flow.

(#&"#*($)'+,$-(",*&

*"."*/0)$0'$,(1)$'#

*+,"0(!$2)$%3"$(4.(,0-

)5657895':;7'5<=5>?@65'@>=57A5B@87C' >5=D:7E'8>B'5<F57='75=8@>5B'?587GH'=58AI

+;7'F7:65>'F7:G5??'8JJ:D?'C:;'=:'?55'8JJ' =H5'75J568>='B58J?'@>'=H5'A87E5=I

45='65==5B'B58J?'=H8='A8=GH'C:;7'>55B?K' ?86@>9'C:;'=@A5'8>B'5<F8>B@>9'C:;7'758GHI

/#0(,%(!/",)$*'5(,"6(

,(0"/#(!$2+)7-/!($-(",*&

15G5@65'D55EJC'B58J?'L7:A':;7'>5=D:7E':L'MNKOOOP' @>=57A5B@87@5?'8>B'Q7:8B5>'=H5'758GH':L'C:;7' @>65?=A5>='G7@=57@8'D@=H'F7:8G=@65'?5JJR?@B5'A87E5=@>9I'

Receive a consistent flow of targeted acquisition opportunities custom-tailored for your firm through B@75G=':;=758GH'=:'F7@68=5'G:AF8>@5?I

*+,,(#0$3$R',%(,$*1/(#0-

"2'+0$0,+-/6&0 0=>-@AB<$DF::JD<?$K=@L9<J$JM>@<I$@:LJ?<F=?$N@<B$9:$JO<J:?@LJ$:J<NF=P$FQ$CF:A7<9@C$ @:LJ?<GJ:<$H9:P?$9:8$H>?@:J??$FN:J=?E$/::FL9<@:A$N@<B$H>?@:J??$@:<JCC@AJ:DJ$9:8$ technology, we increase investor deal flow and enhance buyer networks for intermediaries. /:$STSSU$0=>-@AB<$9DM>@=J8$.=@L9<J$(M>@<I$/:QFU$9$D><<@:A7J8AJ$%3"$

!"#$%"&'#()

2,)#$(5(,-'#

=J?J9=DB$89<9H9?J$<B9<$CJ<?$IF>$?J9=DBU$@8J:<@QI$9:8$DF::JD<$N@<B$PJI$

!"#$"%&'()*+*,-&-./&.*0/)(12")

>)/&1/4-<?*@%8/&(88*0(A(<"45(&2 H=I:;<=>?@AB<CCDEDFG

JOJD><@LJ?$9D=F??$<BJ$J:<@=J$%3"$C9:8?D9KJE

89:;<=>?@AB<CCDEDFG

KJ@

179

)GI'<*/'G* ?A)*'A), )GI'<*)GJ 5A@/ *AF$5;G+ )$% !KLL/ #-*+'-F $HC"+G "*!$(+6$*+( "* IC("*$(($( 4"+E0% !"#$% !"&# '()*+,

&-.

'()*+,$/01234

5102#64768 )489:7136:

;<$

=608>901761:

<'?*@A<

+)<*A)(;*)@G

(;<)G'<< <'AI)?'<

/,G;5,?*;A)GJ

,FFA@,?= ICG=/*)=IC"F) *- D"*/*#"*. #-*+"*.$*#"$( )- *- E/'6 5A,GC /,G?;<@ &'"*#"&/F,%-'"."*/+"-*

B,?C *,*D@E !"#$ &'$(")$*+,%-'"."*/+"-*

$0%D'/*23+4-'-/)(5#-6 60%7898:%8@A=J<>A

$0%1/#23+4-'-/)(5#-6 60%7898:%;8<=>?;@

-0%7A>A:%@BB=;9BA

*E@ A@,+< F,A*G'A<

>BB>%/!$*C$ -D +E$ /6$'"#/(,%A@') DF *$4 G-'2,%*G >BB>9 EEEH*E@A@,+<H?@/

180

-0%7A>A:%@BB=;9BB

COMPANY OVERVIEW

VALUATION RESEARCH CORPORATION

ABOUT VRC

INDEPENDENCE AND OBJECTIVITY

Valuation Research Corporation is a full-service, third-party, global

Our goal is to provide clients with the practical guidance needed to

valuation firm with significant experience and qualifications. Since 1975, our team has provided objective, supportable conclusions of value to

achieve their business objectives. Professionals in our firm combine valuation and corporate finance experience and skills with accounting

domestic and international clients ranging from Fortune 500 companies to privately-held organizations of all sizes and across all industries. VRC also works closely with private equity firms, attorneys, not-for-profit

expertise to provide clients with impartial assistance.

institutions, fiduciaries, and individuals.

Our professionals provide clients with the responsiveness and flexibility

CORE SERVICES

they need in the consideration of mergers and acquisitions, divestitures and significant corporate changes. Our valuation experts provide fairness

VRC’s valuation professionals provide a full-range of quality, supportable

and solvency opinions to assist company directors, special committees,

valuation services. Areas in which we deliver superior expertise, focus and technical competence include portfolio valuations, corporate transaction opinions, and purchase price allocations. Major services

ESOP trustees, lenders, and other corporate advisors to ensure that their transactions are fair and financially adequate.

TRANSACTION EXCELLENCE

include but are not limited to:

SENIOR LEVEL PROFESSIONALS

•

Our highly-skilled senior professionals participate in all phases of assignments from initial client discussions through final

Financial Reporting: Allocations of Purchase Price, Impairment Testing,

•

Tax Planning, Restructuring and Reporting

recommendations. Most have backgrounds in accounting, economics, finance and statistics, and hold advanced degrees and certifications,

•

Corporate Transaction Opinions: Fairness, Solvency & Capital Adequacy

including CFA, ASA, CPA, and MAI.

•

Portfolio Valuations: Illiquid Securities, Hard-to-Value, Level 3 Assets

•

Tangible Asset Valuations: Machinery & Equipment, Real Property

•

Intangible Asset Valuations: Intellectual Property, Trademarks, Brands,

Valuations of Derivatives

Customer Relationships •

Complex Security Valuations

•

Hedge Fund Valuations

Doug Peterson, CFA Managing Director dpeterson@valuationresearch.com (678) 365-2487

Andrew Willis, CFA Senior Vice President swillis@valuationresearch.com (678) 636-2488

Jack Lyness Vice President jlyness@valuationresearch.com (678) 235-7196

VALUATIONRESEARCH.COM

181

X;08J;/8D530/5E:05;18518B4;>28;/85186./08B504;:0804282<6/2338B/500218=;132108;J8YNN8KeXV8OWXWMSOSXU8ccQ8)

!"#$%&#'()%(*#+,$!"#

.&"#'(+/( 012&#)&%3&

$%&

!+#$/+4)+ 5+62"%)&'

'%%#

($')"*

7889+%( 73:;)')$)+%'

<#"%'"3$)+%( ="4;&

(+*

,

5+66)$$&8( 5"2)$"4

>;%8' $+(?"$&

H7'(+/(?&3&6D&#(KLKO

@;# A$#"$&BC

>4&1)D4& 5"2)$"4

-./012/34567 9283:66;/082<=2605;1.>8?.1.@2?2108 02.?3A8B;/C51@835D28EF835D280;8?.<5?5G28>;1@H02/?8 I.>:28.1D8213:/2804283:==2338;J8;:/86;/0J;>5;8 =;?6.1523

▪ N215;/ D2E0 ▪ O2GG.1512 P 3:E;/D51.02D D2E0 ▪ -/2J2//2D 2L:50F ▪ Q;??;1 2L:50F

K>2<5E5>50F7 9286/;I5D28J>2<5E>28=.650.>83;>:05;138 0.5>;/2D80;80428:15L:28122D38.1D8@;.>38;J82.=48 =;?6.1F

E%F&'$6&%$ 5#)$&#)"

M/;B047 928>2I2/.@28;:/8J51.1=5.>A851D:30/FA8.1D8 ;62/.05;1.>82<62/0532A8.1D8;6218;:/82<02135I28 120B;/C80;8J;302/8@/;B048.1D812B8E:3512338 ;66;/0:150523

▪ Q;10/;>8.1D81;1H=;10/;>851I230?21038;J8(&%O 0; ("%O → >./@2/8B50486./012/3 ▪ Q;?6.15238B5048S*TUVW8;J8(!O 0; ($"O 518X;/048 W?2/5=. H7889+%'(-"F&(%+(')I&(#&'$#)3$)+%'

E%8;'$#C >+3;'

7,"#8'

▪ R2.>04=./2 ▪ *:351233 N2/I5=23 ▪ SD:=.05;1

Inc.’s 2024 list of K;:1D2/ K/521D>F T1I230;/3 J@3$+D&#(KLKON

G'& +/ !#+3&&8' ▪ W=L:53505;1 J51.1=51@ ▪ O.1.@2?210 E:F;:03 ▪ M/;B04 =.650.> ▪ *:F;:08;J81;1H.=05I28 6./012/3 ▪ V2E0 /2=.650.>5G.05;13

Global M&A Network’s f:030.1D51@ K5/? 51 eNW -/5I.02 SL:50F – c;B2/ O5DD>2 O./C20 JP;%&(KLKON GrowthCap’s U;6 -/5I.02 SL:50F K5/?3 ;J &%&! JA&2$&6D&#(KLKMN

*:351233 V2I2>;6?210 U2.?7 _;/D.1 O./@;>51 – R2.D8;J8*:3512338V2I2>;6?2108– ?./@;>51`aI33)=;?

-/504I5 W5F.3B.?F – *:3512338V2I2>;6?2108– .5F.3B.?F6aI33)=;?

T1I230?210 U2.?7 _2JJ/2F N02I213;1 – O.1.@51@8-./012/8H 302I213;1`aI33)=;?

U/210 R5=C?.1 – Q;HO.1.@51@8-./012/8H 45=C?.10aI33)=;?

-.0/5=C U:/12/ – -./012/8P8N215;/8O.1.@51@8V5/2=0;/8H 0:/12/6aI33)=;?

*/.D Q;/E51 – -/51=56.>8– =;/E51EaI33)=;?

S/5= d5? – -/51=56.>8– C5?2aI33)=;?

O5=4.2> M2E4./D0 – -/51=56.>88H @2E4./D0?aI33)=;?

N.5 -./26.>>F – Y5=28-/235D2108– 6./26.>>F3aI33)=;?

WD50F. M;I5> – Y5=28-/235D2108– @;I5>.aI33)=;?

c:=.3 c2E/.; – N215;/8W33;=5.028– >2E/.;>aI33)=;?

b4;D23 M./12/ – N215;/8W33;=5.028– @./12//aI33)=;?

_.=C c2B51 – W33;=5.028– >2B51`aI33)=;?

_;1HO5=4.2> *2=C2>?.1 – W33;=5.028– E2=C2>?.1`aI33)=;?

N.?.104. N02I213;1 – W1.>F3088H 302I213;13aI33)=;?

N.I.11.4 b;E2/03 – W1.>F308– /;E2/033aI33)=;?

YNN Q.650.> -./012/3

182

Y5/@515. */221 – *:3512338V2I2>;6?2108– E/221IaI33)=;?

+%% -./C WI21:2A $Z04 K>;;/A X2B [;/CA X[ $%%&&

67 \&$&] ^!"H+^^%

BBB)I33)=;?

183

56"&6."/

!"#$%&'(%#)*"+

!"#$%&"'()*+&$*,(-*.$/".#(&#(*(01#$1/23*#"4(+.&5*$"("67&$8(

firm focused on partnering with managers of growth-oriented middle market companies.

Our partnership model is deeply rooted in investing with management teams

CD!;3E!!' !EF-;>E!

;H'!EF-;>E!

IEKLHI>KFE';H' R'5DH!5DF>;3G

!5(H,KFE

who have a meaningful equity stake in their businesses. As a result of this core

aspect of our investment philosophy, we are equally comfortable investing in 4.7%&.$1'87+'489%&.$1'%/7"&*2.: situations. We were founded in 2004 and currently manage $2.7 billion of committed capital across five funds.

;76"*$4"7$'<2.=%*%:21'87+'>&.$"&.8 We seek to invest $20 to $100 million utilizing our #%7$&%=?8@7%*$.# approach

which enables us to partner with exceptional managers across a variety of transactions, including recapitalization, growth, buyout and consolidation transactions.

We focus on companies which have the following attributes: 9(

Consistency and growth in historical financial performance

9(

EBITDA between $3 and $25 million

9( 9(

Revenue of at least $10 million

Sustainable competitive advantages and market position

,"*$-."/';76"*$4"7$'<&%A"**.%78=*

,"*$-."/'01 $2"'3)40"&*

2004

MEKF'(5D3JEJ

>8&=%'6%7'!#2&%"$"&

F.#T',.==.84*

N8$$2"/'>8&&%==

P%78$287'I)77.#)$$

Managing Partner cvs@wvcapital.com

Managing Partn". rjw@wvcapital.com

Managing Pa.$/". mtc@wvcapital.com

Managing Partner jeh@wvcapital.com

P%27'H)&7"&

G&"@'H2%48* -*.$/". gwt@wvcapital.com

S"6.7'J8)&1

P"AA&"1'>=8&T'

Senior Advisor jht@wvcapital.com

):;(<()); kmd@wvcapital.com

Principal jlc@wvcapital.com

S"6.7'H/%4"1

C&"$$'F%#2"="8)

P%*2)8'S87$%&

P"AA&"1'S=%A8*

Principal kjt@wvcapital.com

Principal bmr@wvcapital.com

Vice Pr"#&4"/$ jak@wvcapital.com

Vice President jmk@wvcapital.com

H2%48*'G.==.@87

N8&1'S8$"'N8&.7%

N8$$2"/'J"*A%&@"

K7$2%71'P%27

Vice President tjg@wvcapital.com

Senior Associate mkm@wvcapital.com

Senior Associate mjd@wvcapital.com

Associate ajj@wvcapital.com

;*80"==8'(=%&84%

E=.U80"$2'C"&T287

!"87'J%=87

,%%+1'I)00"==

Associate irf@wvcapital.com

Associate ecb@wvcapital.com

Associate sgd@wvcapital.com

Associate cwh@wvcapital.com

www.wvcapital.com <B'617-261-2050 (B'617-261-2060 " 125 High Street, Suite 2612, Boston, MA 02110

184

GF5,HI' ;3JD!HF;KL

60

;3-E!HNE3H!

47% /53%

N;35F;HM'O'NKP5F;HM

38%+

K-EFKGE'NK3KGENE3H' 5,3EF!I;<

40+

<5FH(5L;5'EQE>DH;-E!'' ;3-E!HEJ';3'5DF'(D3J!

,(&-%$.& /'01%$'2) 3&0-%$'2)#$45 6'*1)&7

!"#$%&'()%*+,-#$,.*'//%()*/.%0#1.%2*3(%,$#4%*.%56#57* )'.8$#'5)*$",$*"%.-*'8(*3.#%5$)*,3"#%4%*$"%#(*7',.)9*!%* -('4#6%*6%1$*/#5,53#57*/'(*7(':$"*3,-#$,.2*,3;8#)#$#'5)2* (%/#5,53#572*<,5,7%<%5$*18='8$)*,56*1,.,53%*)"%%$* (%3,-#$,.#>,$#'5)*/'(*<#66.%*<,(?%$*3'<-,5#%)*#5*$"%* @5#$%6*A$,$%)9*!#$"*6%3,6%)*'/*%0-%(#%53%2*,* (%.,$#'5)"#-B/'38)%6*<#56)%$2*856%(:(#$#57*%0-%($#)%2* ,56*CDE*1#..#'5F*'/*3,-#$,.*$'*#54%)$*,3('))*<8.$#-.%* #568)$(#%)2*:%G(%*(%,6=*$'*6%.#4%(9

89:;/<=;9<5,38<;38> H*A-'5)'(*,56*+'(-'(,$% A#$8,$#'5) H CI9JKKL*'/*MNOPQR*S*CTJKKL*'/*RUU H A%38(%6*Q%1$V*W#()$*X#%52*A-.#$*X#%52*A%3'56*X#%52 and Unitranche H*P(,5),3$#'5*)#>%V*CEYKK*B CEYYKK*:#$"*$"%*,1#.#$= to hold up to $200MM per transaction H O568)$(=*R75')$#3*:#$"*%0-%($#)%*#5*P%.%3'<2*K%6#,* ,56*P%3"5'.'7=2*&%,.$"3,(%2*N8)#5%))*A%(4#3%)2* W#5,53#,.*A%(4#3%)*,56*+'5)8<%(*A%(4#3%) H Z(%/%((%6*M;8#$=*CJKK*B CJYKK9*M;8#$=*3'B#54%)$<%5$* 3,-,1#.#$#%)

,?=@;<8<8:;5A866;3;9<8><8?9 H U%.,$#'5)"#-*[(#%5$%6*K#56)%$ H*@56%(:(#$%*+'<-.%0*+(%6#$) H A-%%6*,56*+%($,#5$=*$'*+.')% H W.%0#1.%*,56*+(%,$#4%*A'.8$#'5) H P(,5)-,(%5$*R--('4,.*Z('3%)) H N(',6*O54%)$<%5$*+,-,1#.#$#%) FN,)%6*'5*$'$,.*#54%)$,1.%*3,-#$,.*3'<<#$<%5$)2*#53.8)#4%*'/*,))8<%6*.%4%(%6*,<'85$)9

,?9<>,<5B/5<?A>C5<?5D;>395=?3;" /%1-(%5>('2)'2

+M[2*M0%38$#4%*K,5,7#57*Q#(%3$'(*\*),('5)'5]:"#$%"'()%93'<

@-2G-H5I14%-

Z(%)#6%5$*_*`.'1,.*&%,6*'/*[(#7#5,$#'5)*\*-78-$,]:"#$%"'()%93'<

!!!"!#$%&#'()&"*'+ !"#$%"$&'&()*")%&'&+,-.$/)&'&+-%.-%%$"-&'&0$##$*&'&01%213&'&4)*&!%/1#1* 5-$6-&'&718&9)3:&'&;$%&<3$%.-*.)&'&;"$6=)3>&'&?$*,-%/")%&0@+@

E-F5=''(&

K,5,7#57*Q#(%3$'(*\*^<''(%]:"#$%"'()%93'<

185

/+'.01(233.-$(4.&*(+"(!"%&.&5&.6"+0(788,6+-*(&6(9+:.";(<6";=>$,'?(@,64&*=2,.$"&$A(!"#$%&'$"&% • H?.BCD$"IDE?$D."JD)DK(G()$"3DL"(L$DM.?L%(B"?)":766"DL"D"L?)K.(=@DG?.N"/@@?C("$/"E0?)C?ED..N"GD)DK("$%(" E(0L/)D."?)'(L$G()$L"/@"OD'?B"P/)B(0GD)+"C/=@/*)B?)K"ED0$)(0"/@"QRS"IDE?$D.+"D)B"$%("P/)B(0GD)"@DG?.N6 • T*0"ED0$)(0L%?E=C()$0?C"G()$D.?$N"D)B"@.(U?M.("$?G("%/0?V/)"C0(D$(L"D"%?K%"B(K0(("/@"D.?K)G()$"3?$%"/*0" ED0$)(0L"D)B"E0/G/$(L"/E$?GD.+"./)K=$(0G"B(C?L?/)"GD5?)K"*)C/)L$0D?)(B"MN"$NE?CD."@*)B"$(0GL • H("$D5("D"C/..DM/0D$?'("DEE0/DC%+"L((5?)K"$/"B0?'("/E(0D$?/)D."'D.*("C0(D$?/)"MN"E0/'?B?)K"G(D)?)K@*." @?)D)C?D."D)B"L$0D$(K?C"L*EE/0$"$/"/*0"GD)DK(G()$"ED0$)(0L"D)B"E/0$@/.?/"C/GED)?(L

• H("D?G"$/"E0/'?B("/*0"ED0$)(0L"3?$%"D"B((E" .('(."/@"L*EE/0$+"CDE?$D.+"@.(U?M?.?$N+"D)B"$?G(" $/"M*?.B"()B*0?)K"M*L?)(LL(L"DC0/LL"D.."

L$DK(L"/@"$%("GD$*0?$N"C*0'(

!"#$%&'$"&()*+,+-&$,.%&.-%

S0/3$%

P*N/*$

&*$/"](0'?C(L+" O?K?$D."^)KDK(G()$

Z(D.$%CD0(+" -(0$?.?$N

&*$/"](0'?C(L+" ^UE0(LL"ID0"HDL%

](0?(L"&"_(DB+" ](0?(L"P+" ](0?(L"I

R0?GD0N" S0/3$%" IDE?$D.

R0?GD0N"\" ](C/)BD0N" IDE?$D.

I/GED)N

`()$*0(

Q%(G(

• H?.BCD$"(GE./NL"D"$%(GD$?CD..N"B0?'()" DEE0/DC%"$/"?B()$?@N"M(L$=?)=C.DLL" GD)DK(G()$"$(DGL"D)B"K0/3$%=/0?()$(B" C/GED)?(L"DC0/LL"L(C$/0L

]$0*C$*0(

B$(7,$(>*$'+&.-(@,64&*(!"#$%&6,%

• T*0"*)?Y*(.N"@.(U?M.("CDE?$D."MDL("D../3L"*L"$/"ED0$)(0"3?$%"C/GED)?(L"$%D$"B/")/$"@?$"E(0@(C$.N"?)$/"$0DB?$?/)D." E0?'D$("(Y*?$N"/0"'()$*0("CDE?$D."ED0DG($(0L

>+,;$&(D$-&6,%

!"#$%&'$"&(C+,+'$&$,%

• P*L?)(LL"\"R0/@(LL?/)D."](0'?C(L • W)'(L$?)K"*E"$/"X6>7GG"?)"(Y*?$N"E(0"$0D)LDC$?/) • WQ"\"Q(C%=^)DM.(B"](0'?C(L

• Z(DBY*D0$(0(B"?)"2/0$%"&G(0?CD

• I/)L*G(0"](0'?C(L

• JD[/0?$N"D)B"G?)/0?$N"(Y*?$N"E/L?$?/)L+"K0/3$%"/0"L(C/)BD0N"CDE?$D.

• I/)L*G(0"Z(D.$%CD0(

• RD0$)(0?)K"3?$%"@/*)B(0L"D)B"L$0/)K"GD)DK(G()$"$(DGL

• J*.$?=]?$("I/)L*G(0

• -.(U?M.("?)'(L$G()$"%/0?V/)

D$0$-&(C6,&360.6()6'8+".$%

!"#$%&'()*#%+#),#%,'-.-,'-,*#%,/-+*0-,*#)'/%+-1#),'#%+#,2*#23,-'4#(2,*12&&-'4#21#0),)5-'#67#8)/%'#92,'-10),

!!!"#$% &'()*(+",#$% -.//0"1""2(3"4/05+"24"67678"1"9:6:;"<8!=>677"1"?)@/A3?.BCD$CDEFC/G 333F3?.BCD$CDEFC/G

186

FIRM OVERVIEW CREATING EXCEPTIONAL OUTCOMES We are a recognized leader in providing advisory, assurance and tax services to clients both nationally and globally. Our mission is to create exceptional outcomes for our clients and our people, offering more than just the technical insight you would expect we offer more proactivity, more attention and more investment into goals and priorities. Our best in class professionals are responsive and diligent as your trusted advisors, getting ahead of your needs so you can be well positioned within the marketplace.

OUR BRAND PILLARS

NATIONAL & GLOBAL PRESENCE We are nationally ranked in the U.S. as one of Inside Public Accounting s Top 200 firms and Accounting Today s Top Southeast Firms. Our professionals remain actively involved in local and industry organizations and associations to increase our depth of resources and expertise, providing industry research and best practices for our clients. Serving clients in 75+ countries all over the world, our international experts assist in navigating the complexities of inbound and outbound business. We are also a member of AGN International and Abacus Worldwide, actively engaging collaborative global resources to best serve our clients at home and abroad.

WHO WE SERVE

!"#$#%"&'()*+,"-.+((/("0"1'()*+,2.+((/(34/,"

187

Confidential – Not for distribution

STRATEGIC – GUIDANCE I OPERATIONAL – EXPERTISE I TAILORED ̶ SOLUTIONS About Us

Why Us?

• Middle market‐focused private equity firm investing in North American‐based platform companies • Over $3 billion of committed capital in its control equity strategy • Actively pursue domestic and cross‐border transactions for strategic platform add‐ons • Founded in 1990 – commitment to control equity since 2006 • Closed on over 220 platform and add‐on acquisitions • Long standing group of investment professionals with over 300 years of investing experience

• Long term investment focus • Record of successfully generating 15%+ EBITDA CAGR on exited investments • Unique combination of investing and operating experience – not a financial engineer • Successful record of improving capabilities and growth trajectories of platform companies • Strategy of backing high quality businesses and being an engaged, transformative partner • Invest in recruitment/retention of top talent across all our companies

Investment Criteria Company Size

$10 ‐ $50 million of EBITDA. Enterprise values ranging from $100 million to $600 million. No minimum size for add‐on acquisitions to existing platforms.

Investment Size

$50 ‐ $200+ million of equity. Demonstrated capability working with LPs to execute larger transactions.

Investment Focus

Diverse niche manufacturers, specialty distributors and B2B service providers, with particular focus on Industrial Technology, Testing/Analytics, Business and Consumer Services, Healthcare, Engineered Products, and Food/Beverage.

Transaction Types

Both control and significant minority equity investments to support buyouts, recapitalizations, growth financings, corporate divestitures, and public‐to‐private transactions. Deep experience investing in family‐owned businesses.

Company Characteristics

• • • • • •

Significant and defensible share position Mission critical products and/or services Products and/or services offer high value to cost proposition Unique capabilities built on superior functionality, organization or service support Strong margin profile and financial performance Scalable business models with multiple growth opportunities

EAST COAST OFFICE 890 Winter Street, Suite 235 Waltham, MA 02451 (781) 530‐9100 I www.windjammercapital.com

188

Contact Us

WEST COAST OFFICE 840 Newport Center Drive, Suite 650 Newport Beach, CA 92660 (949) 721‐9944 I www.windjammercapital.com

TRUSTE D PARTN E RS FOR

Transformational Growth Deal Criteria: Seeking Platforms & Add-Ons

$2 - $25M of EBITDA Platforms

Buy and build strategy in highly fragmented industries

Founder, family, corporate, institutional sellers

US and Canada based companies

Opportunity for transformational organic and acquisitive growth

Majority control investments

200+

Career deals closed by senior team

$400M

38+

Fund I committed capital

Years combined PE investment history

Target Verticals in Essential, Non-Discretionary Services Business-toBusiness Services

Non-Discretionary Consumer Services

Supply Chain, T&L, and Infrastructure Services

VERTICALS

Facility Services Professional Services Industrial Services

Home Services Automotive Aftermarket

Transportation and Logistics Infrastructure Services Specialty Distribution

THESIS

Mission-critical services and technology for corporate and government customers benefiting from outsourcing and regulation

B2C home and auto services, which benefit from noncyclical demand of aging stock and growing need for DIFM

Growing supply chain complexity from e-commerce; investments in infrastructure required from deferred investment and macro tailwinds

EXAMPLE MARKETS

 Fire and Life Safety

 Lawn Care

 Managed Logistics / 3PL

 IT Managed Services

 Pest Control

 Time Critical / Time Definite

 Plumbing and HVAC

 Collision Repair & Lube

 Warehousing Fulfillment

 Roofing

 HVAC / Plumbing / Electrical

 Hazardous Materials Transportation

 Environmental Services

 Auto Services

 Asphalt Paving, Road Striping

 Inspection / Maintenance

 Door & Window

 Wastewater / Sewer Services

 Consulting, BPO, and Staffing

 Foundation & Crawlspace

 Agricultural Services

 Tech Enabled Services

 Gutter / Power Washing

 Value-added Distribution

Investment Opportunities Contact Justin Smith

Managing Director, Business Development jsmith@agellus.com

Senior Deal Team Jeff Aiello Co-Founder and Managing Partner

Beau Thomas Co-Founder and Managing Partner

Jordan Prohaska Principal WWW.AGELLUS.COM

Mailing Address: 10335 Starkey Lane, Suite 100, Knoxville, TN 37932

PATIENT CAPITAL LED BY LOGIC, NOT TIMELINES. OPERATOR-TO-OPERATOR. IDI’s BLUEPRINT

INVESTMENT CRITERIA

IDI is built differently. With a tight focus on technologyaided industrial product companies, we speak the language of operations, not only finance. We partner with business owners and leaders to build strong companies, elevate communities, and solidify legacies.

IDI invests exclusively in manufacturing and industrial technology companies in North America that meet:

Industrial Product Companies

Community Stewards

Operationally Oriented

Patient Capital

•

Revenues $5-40 million

•

EBITDA $0.75-3 million (up to $6M with Partners)

STRATEGY

WHO WE AREN’T

•

Only invest in markets that we understand

•

atient capital making control investments in P buyouts and complex situations

•

ellers include entrepreneurs, families and S corporations

CORE ATTRIBUTES

VENTURE CAPITAL

We don’t do start-ups, although we like technology and growth

ANGEL INVESTORS

We aren’t friends and family, and appreciate seasoned professionals

GENERIC INVESTORS

Our focus is tight, around the kinds of stuff we know.

PRIVATE EQUITY

COMPANY SIZE

We aren’t against leverage, just out-sized risk and debt payments

TURNAROUND SPECIALISTS

We don’t prefer red ink, and enjoy stable situations to build upon

MICRO MANAGERS

We like to help, but not every minute or every day

•

Products with larger sales values

•

Customers include large entities

•

Product and combined technology are significant to the customers’ operations

•

Segments where technology and product innovation can drive sustainable advantage

INDUSTRY FOCUS •

We invest with manufacturing and industrial technology companies

•

Verticals including various products like machinery, sensors, measuring equipment, flow and process control, electrical and electronics

Industrial Machinery Download eBook Run To Own=Run To Sell, a guide for industrial product company owners to think through the future, written from IDI Managing Partner John Dalton’s view as an investor and operator.

Sensors

Flow and Process Control

WWW.IDINVEST.NET

Measuring Equipment

Electrical and Electronics

Company Name: Transworld Business Advisors of Atlanta North Tagline: Your Trusted Partner in Business Sales and Acquisitions About Us: Transworld Business Advisors of Atlanta North is a premier business brokerage agency dedicated to helping business owners and entrepreneurs achieve their goals. With over 25 years of experience, a team of 13 skilled agents, and dedicated support staff, we specialize in facilitating successful business sales, mergers, and acquisitions. Our proven process ensures smooth transactions and exceptional outcomes for all parties involved.

Our Expertise: •

Business Sales: Assisting business owners in selling their businesses efficiently and confidentially.

•

Valuation Services: Offering accurate Broker Opinions of Value to help determine a fair market price.

•

Buyer Representation: Helping buyers find and acquire businesses that align with their goals.

•

Franchise Sales: Connecting buyers with franchise opportunities that suit their interests and investment levels.

Why Partner with Us? At Transworld Business Advisors of Atlanta North, we understand that your firm may encounter deals that fall outside your primary focus or capacity. We are well-equipped to handle these opportunities, ensuring they receive the attention and expertise they deserve. By partnering with us, you can confidently refer deals, knowing they will be managed professionally and efficiently.

Jon Roman CCIM, CM&AP, CEPA Phone: (404) 431-4787 Email: jroman@tworld.com Website: www.tworld.com/atlantanorth Address: One Glenlake Pkwy, Suite 700, Atlanta GA 30328 Let's connect to discuss how we can collaborate on opportunities that align with our mutual interests.

189

ACG Atlanta

2024-25 Board of Directors and Staff BOARD OF DIRECTORS Ann Cox –Citi Private Bank Beth Turner – RSM US LLP Brooks Morris – CRESA Cardell McKinstry – Aprio Chevy Arnold – Ernst & Young Colby Schwartz (Chair) – Fifth Third Bank David Calhoun – Morris, Manning & Martin Giny Mullins – LINX Partners/LXP Gregory Worthy – Bryan Cave Leighton Paisner, LLP Hazen Dempster – Troutman Pepper Locke Jeffrey Hawkins – Carr, Riggs & Ingram, LLC Jeremy Ellis – Genesis Capital, LLC Jermain Pettis – City National Bank

Jesse Speltz – Cabretta Capital Justin King – King & Spalding Karan Ishwar – Argenbright Holdings Karen Robinson Cope – Mara6 Luis Reyes – Cherry Bekaert Philip Lewis – Fulcrum Equity Partners Reese Henson – Citizens Russ Herakovich – Korn Ferry Steve Tye – Croft & Bender Steven.Hunter – TM Capital Sue L. Miller – Bank of America Virginia Kiseljack – PNC Business Credit

ACG ATLANTA STAFF Meg Williams, Executive Director (Atlanta & Birmingham) Gloria Kantor, VP of Operations (Atlanta & Southeast Region) Colin Blouin, Chapter Manager

190

Continue networking at these scheduled events APRIL 10

2025 ACG Atlanta Putting Social

MAY 8

2025 ACG Atlanta Spring Summit

JUNE 12

2025 Georgia Fast 40 Awards & Celebration

JUNE 24 - 25

2025 Southeast Region DealSchool

AUGUST 19

2025 Taste of ACG Atlanta

SEPTEMBER 10

ACG Atlanta DealSource 2025

acg.org/atlanta