HCI Equity Partners is a private equity firm which invests in growth oriented industrial product and

service companies. The members of the Firm partner with owners and managers of industrial companies, with a focus on assisting with operational improvements and supporting growth initiatives. The HCI Equity team has extensive experience in both private equity investing and operational leadership.

HCI EQUITY PARTNERS

HCI Equity Partners is a strategically focused private equity firm that targets growth oriented industrial product and

service companies in the lower middle market. The Firm has offices in Washington, DC, Minneapolis, MN, and Chicago, IL.

The professionals at HCI Equity Partners utilize a disciplined approach to identify attractive opportunities in targeted sectors where their collective experiences, expertise and relationships can add value. The investment team has extensive experience and relationships in both private equity investing and operational leadership. Seven of nine principals have been CEO, President or CFO of an industrial company during their careers. Their combined experience helps HCI Equity Partners to (i) more efficiently source investment opportunities, (ii) have a deeper understanding of industry sector trends and business fundamentals, and (iii) enhance performance of the companies in which it invests.

The HCI Equity Partners team uses a highly focused approach to investing and a hands-on operating philosophy to help grow and improve the profitability of each of its portfolio companies. The team focuses on building solid relationships with proven management teams who share its commitment to integrity, professionalism, achievement, growth and success in business. HCI Equity Partners works with each of its portfolio companies to achieve well defined goals by identifying and supporting growth opportunities and assisting with operational improvements.

Led by an experienced, cohesive team with a proven strategy of adding value to industrial product and service growth companies in the lower middle market, HCI Equity Partners has a track record of success and is recognized as an exceptional partner and resource to management teams.

ABOUT HCI EQUITY PARTNERS

Key attributes of the HCI Equity team:

• Experienced, cohesive team with a strong culture

• Substantial operating experience and capability

• Focused investment strategy in targeted sectors

• Demonstrated ability of adding value to portfolio companies

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INVESTMENT STRATEGY

HCI Equity Partners has a proven track record of making successful investments in growth oriented industrial

product and service companies based in North America. HCI Equity Partners focuses in the lower middle market which includes companies with approximately $20 to $200 million in annual revenue. HCI Equity Partners recognizes that a sustained record of success in the middle market is best achieved by targeting companies with solid management teams in sectors where the Principals have a strong understanding of sector trends, business fundamentals and relationships and where its team has prior experience.

The team distinguishes itself from other buyout firms in the lower middle market by its substantial operating and investing experience. Seven of nine principals have proven operational leadership experience as CEO, President or CFO of an industrial company during his or her career. Drawing on their collective experience, the team works closely and effectively with the management teams of its portfolio companies to create significant value including:

• Assisting with major operational initiatives

• Enhancing the sophistication of operational and financial reporting capabilities

• Developing and assisting with an acquisition strategy

• Adding depth to management teams as needed

• Building and leveraging an active board of directors

HCI Equity Partners seeks to partner with proven management teams who share our long-term growth vision for the company and wish to retain a stake in the company post-closing. This alignment of interests from both a strategic and financial perspective are critical elements in creating the foundation for a successful investment. Furthermore, we focus on building solid relationships with management professionals who share our commitment to integrity, professionalism, achievement, growth and success in business. A strong partnership with management enhances the success of achieving our collective goals and is a requirement for the HCI Equity Partners team.

HCI Equity Partners will consider investments in companies with a strong management team and an attractive business model across the spectrum of industrial products and services industries. The team also proactively targets several specific industries where it believes the Firm has a unique competitive advantage based on our prior experience and relationships. This includes companies that compete in the following markets:

• Aerospace/Defense

• Automotive & Commercial Vehicle

• Building Products

• Distribution

• Industrial Services

• Infrastructure Products/Services

• Niche Manufacturing

• Transportation & Logistics

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Adept Plastic Finishing is a premier supplier offering injection molding, chrome plating and painting services for plastic components. Adept has established itself as the preferred supplier in the chrome plating industry, serving select Tier-1 suppliers in the automotive and Class-8 truck end markets. The Company’s proprietary process technology within its chrome plating segment allows them to handle a wide array of products, ranging from heavy-duty class-8 truck grilles to high-touch automotive badges. Adept works in conjunction with HCI’s portfolio company, Tribar Manufacturing.

Wixom, MIAutomotive Market

Commercial Steel Treating Corporation is North America’s largest provider of engineered protective coating, pre-treatment, heat treating, and technical intermediation services for metal fasteners. CSTC has a history of being at the forefront of coating technology since it was founded in 1927 by the Hoensheid family. The Company meets or exceeds its customers’ anti-corrosion performance standards using state-of-the-art coating equipment, proprietary IT software, and its deep base of industry knowledge.

Madison Heights, MIAutomotive Market

SELECT PORTFOLIO COMPANIES1

HCI Equity Partners 4(1) Above is a listing of current and past HCI platform equity investments. A complete list of all prior investments (including add-ons) will be made available upon request.

CURRENT INVESTMENTS

Go To Logistics is a transportation service provider focused on the freight consolidation and LTL market. Go To provides services ranging from expedited/guaranteed service to warehoused consolidation primarily from Chicago to the Northeast and West Coast, as well as the Southwest United States. The Company utilizes a Midwest-based warehouse for outbound consolidation and has a dedicated independent contractor base that provides linehaul and pick-up and delivery. Go To’s agent network augments delivery capabilities and also provides relationships for outbound capabilities.

Northlake, ILTransportation & Logistics

Summit Interconnect was formed after the completion of two separate transactions to acquire KCA Electronics and Marcel Electronics International (MEI). KCA provides advanced technology, multi-layer rigid and flex printed circuit boards. The company primarily serves the aerospace and defense sector, providing direct access to customers or through EMS customers that support the aerospace and defense markets. MEI manufactures complex, multi-layer printed circuit boards.

Anaheim & Orange, CAPrinted Circuit Boards

The Delaney Hardware Company is a designer, marketer and distributor of residential and commercial locksets, as well as a variety of other bath related hardware. The Company sources product through Asian manufacturing relationships and markets under its own Delaney and Callan brand names. Delaney’s customer base is largely composed of small-to-medium sized building products suppliers, installers and DIY outlets.

Cumming, GABuilding Products

SELECT PORTFOLIO COMPANIES1

HCI Equity Partners 5(1) Above is a listing of current and past HCI platform equity investments. A complete list of all prior investments (including add-ons) will be made available upon request.

CURRENT INVESTMENTS

Roadrunner Transportation Systems, Inc. is a leading asset-light transportation and logistics services provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload services, freight consolidation and inventory management, intermodal solutions and full transportation management systems. In May 2010, the company completed an IPO and simultaneous merger with Group Transportation Services, another HCI portfolio company and non-asset based provider of third-party logistics and outsourced transportation management solutions.

Milwaukee, WI & Mars Hill, METransportation & Logistics(Publicly traded as RRTS on the NYSE)

TSM is a leading precision machining company serving the automotive industry with over 70 SKU’s across 40 diverse and attractive vehicle platforms. TSM is a distinguished supplier of powertrain, chassis and suspension components.

Auburn Hills, MIAutomotive/Precision Machining

CertifiedSafety, Inc. is a leading independent provider of specialized safety and productivity services primarily for plant maintenance events such as turnarounds, shutdowns, outages, and ongoing maintenance projects as well as for large capital investment programs including construction and decommissioning. The company provides numerous safety related services and personnel needed to help owners and contractors take a consistent and proactive approach to safety.

League City, TXInfrastructure Products / Services

AmerCareRoyal is a leading provider of disposable protective gloves and other ancillary products for the foodservice, healthcare and janitorial markets in the US. The Company also provides other products including straws, aprons, wipes, and plastic related items.

Charleston, SC, Exton, PA & Flower Mound, TXDisposable Gloves

Tribar Manufacturing is a leading supplier of high profile vehicle badge assemblies and other highly-engineered products. Tribar serves the North American automotive market with a product portfolio that includes a full complement of class-A vehicle badge assemblies, as well as large and complex two-shot molded components, such as door seals and liftgate reveals.

Howell, MIAutomotive Market

Milan Supply Chain Solutions is a leading provider of regional transportation and logistics solutions, specializing in truckload and warehousing and distribution services.

Milan, TNTransportation & Logistics

HVH Transportation is an asset-light transportation provider focused primarily on dry van truckload services throughout the Midwest, Southwest and Western states. The company also provides regional and dedicated less-than-truckload services. In April 2014, the company merged with FTI Transportation, an asset light transportation provider, created a larger truckload provider with a broader lane network, experienced management team, and multiple opportunities for synergy realization.

Denver, CO & London, OntarioTransportation & Logistics

Leading national provider of operational supplies and equipment to the lodging and hospitality industry. The Company has a diverse product portfolio, offering over 3,600 different SKUs within categories that include bed and bath linens, guest care amenities, housekeeping supplies, in-room accessories, electronics and appliances, and foodservice supplies. The Company leverages its national distribution footprint, coupled with in-house delivery, design, and procurement capabilities, to provide a value-added service offering to its customers.

CaliforniaDistribution

SELECT PORTFOLIO COMPANIES1

HCI Equity Partners 6(1) Above is a listing of current and past HCI platform equity investments. A complete list of all prior investments (including add-ons) will be made available upon request.

CURRENT INVESTMENTS

Quadel Consulting Corporation provides outsourced program management, contract administration, disaster recovery, consulting, training and educational services. These services are provided to various federal, local and state agencies.

Washington, DCFederal Services

Naumann/Hobbs Material Handling, Inc. is a full service material handling dealership that leases, sells and services a variety of electric and internal combustion forklifts and other commercial products. The company operates along five lines of business which work together to provide the most attractive value proposition in this sector in the southwestern United States.

Phoenix, AZDistribution

Dynamic Systems, Inc. is the leading designer and manufacturer of dynamic thermal-mechanical testing and physical simulation systems used for metallurgical analyses in a wide variety of industries.

Poestenkill, NYTest & MeasurementNiche Mfg

Power & Composite Technologies, Inc. designs, manufactures and sells highly-engineered composite components for use in utility-scale electrical generators as well as custom composite structures for use in medical, technology, aerospace and defense applications.

Amsterdam, NYPower Generation

Group Transportation Services, Inc. is a non-asset based third-party logistics provider offering a full suite of outsourced transportation management solutions to over 11,000 middle market clients. Services include pricing, contract management, carrier selection, freight tracking, bill payment, bill audit and dispatch. In May 2010, GTS merged with Roadrunner Transportation Systems, another HCI portfolio company, simultaneous with the consummation of Roadrunner’s IPO.

Hudson, OHTransportation & Logistics

TDS is a leading designer and manufacturer of hydraulically powered drive assist systems and steer axles for agricultural equipment and on and off-highway vehicles.

Brookston, INAuto & Commercial Vehicle Suppliers

Southern Ag Carriers is a high growth transportation and logistics services provider for agricultural and related processed food manufacturers.

Albany, GATransportation & Logistics

PRIOR INVESTMENTS

SELECT PORTFOLIO COMPANIES1

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BHM Technologies, LLC was formed with the merger of three portfolio companies: Brown, Heckethorn and Morton. The combination created a superior automotive and commercial vehicle supplier able to cross-sell products into complimentary markets and customers.

Ionia, MIAuto & Commercial Vehicle Suppliers

Progressive Waste Solutions Ltd. is the third largest North American full-service waste management company. Progressive Waste provides non-hazardous waste collection and landfill disposal services for municipal, commercial, industrial and residential customers in five provinces and eleven US states.

Toronto, OntarioEnvironmental Services(Publicly traded as BIN on the NYSE)

Mistras Group, Inc. is a leading global provider of non-destructive testing equipment, inspection and engineering services. The company’s products and services are used to verify structural integrity of critical equipment, plant components and industrial and public infrastructure.

Princeton Junction, NJTesting & Measurement(Publicly traded as MG on the NYSE)

Total Quality, Inc. is a fast-growing, niche transportation services company focused primarily on cold chain transportation and logistics (transportation of temperature sensitive shipments ranging from food products to pharmaceuticals). TQI also provides brokerage services and third party logistics services to customers in a variety of end markets.

Grand Rapids, MITransportation & Logistics

TEAC Aerospace Technologies, Inc. is a leading global supplier of airborne video and data recording products as well as debriefing systems to the defense industry. TEAC is also a key provider of distributed in-flight entertainment systems to the commercial airline industry.

Monterey Park, CAAerospace & Defense

(1) Above is a listing of current and past HCI platform equity investments. A complete list of all prior investments (including add-ons) will be made available upon request.

Qualitor, Inc. is a leading diversified supplier of aftermarket parts for the automotive and medium to heavy duty truck industries. The company’s products include brake components, wiper blades, engine control devices and heavy-duty truck parts.

Southfield, MIAutomotiveAftermarket Supplier

Herndon specializes in providing value added supply chain management solutions and third party logistics for consumable hardware utilized in military applications including fixed and rotary wing aircraft, wheeled and tracked vehicles, and sea vessels. Polygon Aerospace, which merged with Herndon Products in 2015, is a leading provider of aircraft fasteners to the commercial aerospace supply chain market.

St. Louis, MO & Houston, TXAerospace & Defense

Total Container Group, Inc. is primarily involved in the reconditioning, servicing, and sale of plastic composite intermediate bulk containers (or “IBCs”) used to transport a growing variety of bulk liquids. The company also provides tanker truck washing, ISO container washing, and steel IBC cleaning and rental services.

Cleveland, OHBulk Containers / Distribution

Associated Asphalt, Inc. is one of the largest independent liquid asphalt resellers in the United States. The company has been in business for over 50 years and enjoys strong customer relationships and leading market share.

Roanoke, VADistribution/ Infrastructure

HCI EQUITY PARTNERS

The team distinguishes itself from other buyout firms in the lower middle market by its substantial operating and investing experience with seven of nine principals having been CEO, President or CFO of an industrial company during their careers, HCI Equity Partners’ investment professionals are clearly distinguished from other buyout firms in the lower middle market.

Dan Dickinson is a Co-Founder and Managing Partner at HCI Equity Partners and oversees the origination, management and development of the Firm’s investments. Current portfolio companies that he is actively involved with include Terra Drive Systems, Inc., Dynamic Systems, Inc., Power and Composite Technologies, Inc., CertifiedSafety Inc., and The Delaney Hardware Company. Mr. Dickinson joined the HCI team as a Managing Partner in 2001. Additionally, he serves on the Board of Directors of Caterpillar, Inc, the Board of Visitors for the Pratt School of Engineering at Duke, the Board of Directors of the U.S. Olympic and Paralympic Foundation, and the Board of Trustees of the Cove School.

Doug McCormick is a Co-Founder and Managing Partner at HCI Equity Partners and oversees the origination, management and development of the Firm’s investments. Current portfolio companies that he is actively involved with include Naumann/Hobbs Material Handling, Inc., Quadel Consulting Corporation, AmerCareRoyal, and Summit Interconnect. He joined the HCI team in 1999 and has served as a Managing Partner since 2006. Mr. McCormick serves as a board member of Team Red White and Blue, a veterans service organization, and is a Henry Crown Fellow.

MANAGING PARTNERS

Biographies available at www.hciequity.com

Operating PartnersKevin CramtonJim ForeseBob Hund

Managing DirectorsScott GibaratzDan Moorse Carl NelsonJudy Vijums

VPs & AssociatesBrendon BiddleCraig BunkerBrad CainAndrew Carraway Tyler CollinsKelsey Clute

VPs & AssociatesTim Frend Josh Kite Nate NovakBrendan Reardon Joe RuedChris Taylor

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Finance Lisa Costello Peggy Espejo Amy Stremmel

Scott Rued is a Co-Founder and Managing Partner at HCI Equity Partners and oversees the origina-tion, management and development of the Firm’s investments. Current portfolio companies that he is actively involved with include Roadrunner Transportation Systems, Inc., SouthernAg Carriers, Inc., HVH Transportation, Inc., Milan Supply Chain Solutions, Tribar Manufacturing, Commercial Steel Treating Corporation, Go To Logistics and Adept Plastic Finishing. Mr. Rued joined the HCI team as a Managing Partner in 2003 and previously was the Co-Founder, President and CEO of Hidden Creek Industries (a partnership with Onex Corporation) which was founded in 1989. In addition he also served as CFO of both Automotive Industries and Tower Automotive through much of their growth period, including during their initial public offerings.

Led by an experienced, cohesive team with a proven strategy of adding value to industrial product and service growth companies in the lower middle market, HCI Equity Partners is known to be an exceptional partner and resource to management teams.

If you are interested in more information about HCI Equity Partners, please email us at info@hciequity.com or contact our offices at:

www.hciequity.com

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FOR MORE INFORMATION

Disclaimer• This brochure is not an offer to sell or the solicitation of an offer to purchase an interest in any private equity fund managed or

supported by HCI Equity Partners or its affiliates.• All information with respect to portfolio companies and industry data have been obtained from sources believed to be reliable and

current, but accuracy can not be guaranteed.• All information regarding portfolio companies is provided to demonstrate HCI Equity Partners’s ability to provide operational

leadership and to serve as a source of financing to portfolio companies.

Minneapolis, MN OfficeHCI Equity PartnersIDS Center80 South 8th St., Suite 4508Minneapolis, MN 55402612.332.2335 p612.332.2012 f

Washington, DC OfficeHCI Equity Partners1730 Pennsylvania Ave., N.W. Suite 525Washington, D.C. 20006202.371.0150 p202.312.5300 f

Chicago, IL OfficeHCI Equity Partners1033 Skokie Blvd.Suite 260Northbrook, IL 60062847.291.9259 p847.897.6212 f