• WE INVEST IN TEXAS Transition Capital Partners (“TCP”) is a Southlake, TX based private equity investment group Founded in 1993, TCP has successfully invested in over 50 lower middle market companies spanning a diverse array of industries

TCP partners with management teams to build sustainable value in businesses over the long-term, without the artificial constraints fundraising cycles create for traditional private equity funds With more than twenty-five years of proven success, we have a long track record of collaborating with our partners to accelerate the growth of lower middle market companies

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• EBITDA of $2mm – $20mm for platform acquisitions
• SaaS software companies: recurring revenue (“ARR”) of $5mm – $20mm (no EBITDA minimums)
• No minimum criteria for portfolio company add-on acquisitions

• Recapitalizations, management buy-outs, corporate divestitures We are interested in acquisitions in many industry sectors in Texas and surrounding states We have completed more than 20 acquisitions in Texas and passionately believe in the economy and the management teams that choose to build businesses here

• FOCUS ON THE LOWER MIDDLE MARKET

• LONG TRACK RECORD OF SUCCESS

• WHAT YOU SEE IS WHAT YOU GET TCP is a private equity investment group that partners with management teams to build sustainable value in businesses over the long-term, without the artificial constraints fundraising cycles create for traditional private equity funds TCP is not bound by many of the investment restrictions that hamper traditional private equity funds, allowing us to offer flexible solutions to our management partners

Focus on the Lower Middle Market For 25 plus years we’ve been doing the exact same thing: partnering with management teams to create value in businesses under $200 million in revenue Why do we choose to invest in “small” companies? First, because we passionately believe that smaller companies have opportunities for significant growth when you get the people part right Second, because TCP has greater opportunities to bring meaningful contributions as a partner through our business building experience and deep network of relationships

Long Track Record of Success Founded in 1993 and with over 45 acquisitions completed, we have been successfully investing in middle market companies for a long time We believe our reputation for being a value-added partner has been earned through real experience, both our successes and our failures

What You See Is What You Get We are a small, focused investment team, for a reason We take our partnerships with management teams very seriously and we believe that it is people and relationships that make the difference We only make one to two investments per year so we can concentrate on providing our management partners the time, attention and contribution that they expect and deserve

Based in Gainesville, TX, Petroflex North America manufactures superior quality, continuous length HDPE (High Density Polyethylene) conduit and accessories for the Electric Utility, Renewables (Wind & Solar), Irrigation, Telecommunications and Data/Voice industries

Based in Frisco, TX, SuccessEd is an innovative educational software provider that is built by educators for educators SuccessEd puts time-saving data management tools in the hands of educators which track compliance and services provided to students in special education, Section 504, Dyslexia, RtI, Medicaid, ELL, and behavior programs

Based in Dallas, TX, TriCon Logistics is an innovative and customer focused third-party logistics company providing a broad range of non-asset based logistics services to its customers, including cargo transportation (air, ground and ocean freight), warehousing and distribution, fulfillment, final mile delivery and customs brokerage

Based in Houston, TX, McDaniel Metals has been a leading manufacturer of innovative, high performance HVAC components since 1982 The Company designs and fabricates primarily aftermarket components for the residential and commercial markets including curbs, curb adaptors, filter bases, economizers, dampers and other accessories, many of which improve indoor air quality and energy efficiency

Based in Westminster, CO, Xclusive Services is a leading provider of outsourced staffing solutions for the hospitality industry Xclusive offers customers a full-service suite of personnel solutions including housekeeping, laundry, culinary, banquet service, guest services, dishwashing, maintenance, food & beverage and events Partnered with many of the nation’s leading hotel brands, Xclusive currently operates in more than a dozen states and more than two dozen major metropolitan markets

Based in Plano, TX, Hospice Source is a nationwide full-service provider of respiratory therapy and medical equipment (“DME”) focused exclusively on the hospice market The company’s equipment and services are an important part of the delivery of end-of-life care for thousands of hospice patients each year With an aging population in the United States, demand for the Company’s services is expected to continue to grow in the future With an experienced management team, dedicated and compassionate staff, and an industry leading software system, Hospice Source is well positioned to continue to meet these needs

Highstreet is an IT services company that provides superior ERP and Cloud enabled managed services solutions for clients facing the challenges brought on by the intersection of traditional and updated application software solutions with new Cloud-based paradigm shifts occurring in the market Highstreet offers full lifecycle consulting support services, including implementations, upgrades, optimization, application assessments, software selection, IT strategy, project management, application management, and change management services for PeopleSoft and Oracle E-Business Suite applications

Rick Baldwin, a Legacy TCP Managing Partner, leads the investment and provides oversight to the business as Chairman

GBS Enterprises provides warranty services and healthy sleep products to some of the nation’s largest and most respected retailers These services include Furniture Protection Programs, Top-of-Bed Products and Protection Programs, Adjustable Bed Protection Programs, and Furniture Cleaning and Protection Products GBS offers these products and services to the Furniture, Mattress/Bedding, and Pest Control Industries

• CELESTE NEWTON CHIEF FINANCIAL OFFICER Andy works with TCP’s portfolio companies on strategy, management team development, business building, problem solving and acquisitions He is also responsible for identifying new TCP investments and investor relations Prior to joining Transition Capital Partners, Andy was a Managing Director for several funds and family offices including a subsidiary of Credit Suisse, Hunt Private Equity Group and J B Poindexter & Co Prior to that, Andy was the Chief Financial Officer of a private equity backed consolidator in the equipment rental industry and a Director of Corporate Finance for Comerica Bank Over his career Andy has invested in numerous middle market companies, managed corporate affairs as a CFO, and advised on many successful M&A transactions Andy earned a B A from Michigan State University, an M B A from Wayne State University, holds the Chartered Financial Analyst designation and is a member of the CFA Institute Andy currently serves on the Board of Directors for Petroflex North America, Xclusive Services, Hospice Source, McDaniel Metals, and Highstreet IT Services

Keith assists TCP’s portfolio companies with budgeting, forecasting and financial management, bank financing, accounting and tax matters, legal and risk management Keith also works on new TCP investment opportunities and maintains lender and service provider relationships Prior to joining TCP, Keith served as a Vice President of Operations for Corporate Sports Marketing Group and as a Portfolio Manager with Salomon Smith Barney Keith holds a B A in Economics from Davidson College Keith currently serves on the Board of Directors of Petroflex North America, Xclusive Services, Hospice Source and McDaniel Metals

Jason works with TCP’s portfolio companies on strategy, acquisitions, sales & operational management and management recruitment Jason also focuses on identifying new TCP investment opportunities, marketing and investor relations Prior to joining TCP, Jason was a Senior Partner at Lucas Group, a global recruiting firm, and in sales management at Centego Marketing, a portfolio company of the Patterson Thoma Family Office Jason holds a B A in Finance from Southern Methodist University, where he played football Jason currently serves on the Board of Directors of Petroflex North America, Hospice Source, Xclusive Services and McDaniel Metals

Celeste provides accounting, treasury and financial services for TCP Prior to joining TCP, Celeste was in public accounting at Deloitte Tax, LLP Celeste is a Certified Public Accountant (CPA) in the state of Texas and holds a Bachelor of Accounting and Master of Professional Accounting degree from the University of Texas at Austin

Preston focuses on identifying new TCP investment opportunities, supporting the management of TCP’s portfolio companies, and marketing efforts Prior to joining TCP, Preston was an associate at Hext Financial Group, a family-owned financial services company Preston holds a B A in Philosophy and a B B A in Real Estate Finance from Southern Methodist University Preston is currently a fourth year J D /M B A candidate at Southern Methodist University’s Dedman School of Law and Cox School of Business

Jeff has significant experience across a number of industries including consumer products, industrial products & services, and specialty finance and insurance Jeff currently services as an Area Presisdent for Private Client and Personal Lines at Arthur J Gallagher & Co He has previously served as CEO of Lifesmart Technologies, President and Chief Operating Officer of TWG Insurance and Chief Executive Officer of the Berry Family of Nurseries Earlier in his career, Jeff worked as a senior manager at Bain & Company, a leading global strategy consulting firm, and as a senior consultant at PriceWaterhouseCoopers Jeff graduated from the University of Iowa with a Bachelor of Business Administration in accounting and earned his MBA from the Amos Tuck School of Business Administration at Dartmouth College where he graduated as a Tuck Scholar He is also a certified public accountant

Ed Kuklenski has 36 years of experience in the healthcare industry Mr Kuklenski previously served as the Executive Chairman, President and CEO of Suture Express, a leading national distributor of wound closure and disposable surgical instruments Prior to joining Suture Express, Mr Kuklenski served in various leadership roles at Child Health Corporation of America (CHCA) He also served as an advisor to CHCA’s private equity investment fund and President of CHCA’s insurance company Mr Kuklenski previously held various sales, marketing and general management positions with American Hospital Supply Corp and Baxter, Inc Mr Kuklenski was the co-founder of FoodBuy, Inc , the nation’s largest group buying company serving the commercial and institutional food industry Mr Kuklenski was also the co-founder of Insurance Point, a national insurance broker focused on health care institutions He has served on the Board of Directors of the Alliance of Children’s Hospitals, the Anesthesia Patient Safety Foundation, Children’s Medical Ventures, the Enterprise Center of Johnson County, iLife Systems, Medibuy, Patton Surgical, Promedix and VMI Medical Mr Kuklenski currently serves on the Board of Directors for Captify Health, Hospice Source, Medspeed, PT Solutions and StatLab Mr Kuklenski holds a B S from the University of Kansas, where he serves on the Dean’s Board of Advisors for the School of Business