TURNOUT INDUSTRIES LAUNCHED

Differentiated, long-term oriented partner for lower middle market businesses

CHICAGO, Illinois, (May 25, 2021) – In partnership with a strategic investor, Turnout Capital has formed Turnout Industries LLC (“Turnout Industries” or the “Company”). From its committed capital base, the Company will seek to acquire 12-15 operating companies with EBITDA of at least $1 million in the business services, manufacturing and distribution/logistics categories over the next ten years.

Turnout Industries will structure and control the subordinated debt and equity required to close transactions quickly and efficiently. The Company’s indefinite hold period will allow for more cooperation among and synergies between its operating businesses.

“We are excited to have more flexibility through this holding company structure than any fund structure would allow. We believe the combination of streamlined financing, committed partners and our longer-term investment horizon will provide an attractive solution for lower middle market sellers,” said Rob France, Partner.

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Turnout Industries is a Chicago-based diversified holding company focused on acquiring companies with $5-50 million of revenue and at least $1 million of EBITDA.We are committed to approaching each investment opportunity with the appropriate mix of humility and relevant experience. We prefer candor and believe in straightforward communications. We are an excellent partner to management teams and good stewards of our businesses. Find out more at www.turnoutindustries.com