CHICAGO, IL (October 26, 2022) – Turnout Industries (“Turnout”) is pleased to announce the acquisition of KIHM Metal Technologies LLC (“KIHM”). KIHM is a leader in metal spinning, hydroforming and complex machining of exotic alloy-based components for the aerospace, defense, and power generation industries. KIHM represents Turnout’s third platform investment since its formation in May 2021.In partnership with KIHM’s President Bryan Davis and former President Brian Deakins, Turnout acquired KIHM from a group of investors led by the Firefly Group. Headquartered in Brazil, Indiana, KIHM continues a tradition of providing metal spinning and other skilled metal working services dating back to the 1960s.“KIHM Metal Technologies proudly serves the aerospace, defense and power generation markets with a customer centric approach unique in the industry,” commented Bryan Davis. “We specialize in metal spinning, hydroforming, welding, and precision CNC machining of challenging alloys often found in today’s aircraft. Partnering with Turnout Industries will allow KIHM to expand our capabilities to better meet the needs of our growing customer base.”Turnout was advised by Perkins Coie LLP and Sikich LLP in the transaction.For more information regarding KIHM, please visit www.kihmmetaltech.com.

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Turnout Industries is a Chicago-based diversified holding company targeting investments in companies with $5-50 million of revenue and at least $1 million of EBITDA. From its committed capital base, Turnout provides both equity and subordinated debt to companies in the business services, manufacturing and distribution/logistics categories. Turnout seeks to build long term value through investments in management teams, company infrastructure and strategically additive acquisitions. With the benefit of a flexible timeline, Turnout will seek to build value over extended periods tailored to each specific company’s opportunities.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. For more information regarding Turnout, please visit www.turnoutindustries.com or follow us on LinkedIn for our latest updates.