News

(Toronto, November 6, 2020) We are pleased to announce the promotions of Tanya Babalow to Chief Financial Officer and Daivik Doshi to Vice President. Tanya joined Ironbridge at the beginning of 2019 as VP, Finance. She is responsible for all compliance, financial reporting, and investor relations activities of the Ironbridge group of funds. Tanya holds a Master of Business Administration degree from the University of British Columbia, and a Bachelor of Arts degree specializing in Finance and Economics from Western University. Tanya is also a Chartered Professional Accountant, Certified General Accountant. Daivik joined Ironbridge as an Associate in 2016 and was promoted to Senior Associate in 2018. He serves as a director of CMP Group Ltd. and GNI Management Group Inc., and as an observer on the board of Avena Foods Limited. Daivik holds a Master of Accounting and a Bachelor of Mathematics specializing in Accounting and Finance, both from the University of Waterloo. He is also a Chartered Professional Accountant and Chartered Business Valuator. For more information, contact: Alan Sellery Managing Partner Ironbridge Equity Partners (416) 863-0101 www.ironbridgeequity.com

(Toronto, September 1, 2020) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired a controlling interest in GNI Management Group Inc. (“Great Northern Insulation” or “GNI”), from Mill Street & Co., which will continue to own a minority stake in GNI. Great Northern Insulation, based in Woodstock, ON, is a leading provider of insulation services in the residential, commercial, industrial, and agricultural sectors. GNI has a complete building offering that includes insulation, air sealing, fireproofing, panel and cladding, building diagnostics and thermography. Founded in 1980, GNI has grown to eight locations and 300 employees offering building owners a complete solution to meet their needs for energy efficiency, environmental sustainability, structural durability, and comfort. “We see the building envelope as being critical for commercial operators and homeowners to reduce energy consumption and meet future demands for efficiency and carbon neutrality,” said Bill Maginas, newly appointed CEO of GNI. “All of us at GNI are very pleased to align with such a strategic and engaged new partner.” “This transaction marks a significant milestone for GNI to build on its market leading position,” said Noah Murad, President & CEO of Mill Street & Co. “We are thrilled to be partnering with Ironbridge, who has a long track record of successfully building and growing businesses in Canada.” “We feel that this investment in GNI is a tremendous opportunity for Ironbridge, as GNI is the leader in insulation services in Ontario, has a well known brand, and management has done an impressive job expanding the geographic footprint and bringing new services to market,” said Jeff Murphy, Partner at Ironbridge. Ironbridge is investing in GNI through the firm’s most recent fund, Ironbridge Equity Partners III, LP, which is a fully-committed $238 million fund. Ironbridge’s team of twelve investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. For more information, contact: Jeffrey Murphy Partner Ironbridge Equity Partners (416) 863-0107 www.ironbridgeequity.com Bill Maginas CEO GNI Management Group Inc. (416) 557-9682 gni.ca

(Toronto, July 22, 2020) Ironbridge Equity Partners is pleased to announce the rejoining of Ali R. Akbar as Principal. Ali brings extensive experience across private equity, management consulting, and investment banking. Over the past 3 years, Ali was at Bain & Company in both New York and London, where he advised private equity and corporate clients on commercial due diligence, merger integration, and value creation & performance improvement across a variety of industries. Prior to Bain, Ali was a Vice President at Ironbridge, where he was involved in new investment opportunities and supporting portfolio company growth. Ali began his career at KPMG Corporate Finance, focusing on mid-market M&A and capital advisory. Ali holds an MBA from London Business School and a Bachelor of Commerce degree from McGill University, where he graduated with Great Distinction.  Ali is also a Chartered Accountant. For more information, contact: Alan Sellery Managing Partner Ironbridge Equity Partners (416) 863-0101 www.ironbridgeequity.com

(Delta, BC. March 9th, 2020) CMP Group Ltd (“CMP”), an Ironbridge portfolio company, is pleased to announce it has acquired MarineTech Products, Inc. based in Vadnais Heights, MN (“MarineTech”). Founded in 2000, MarineTech started with a single proven product line, NAVIGATOR Engine mounted Electric Trolling Motors. Through hard work, strategic planning and solid industry partnerships, MarineTech has grown to five, well-established marine product brands including Panther™, TROLLMaster™, EZ-Steer®, Navigator® and Angler's Pal, offering boaters hundreds of quality, innovative products. CMP Group, headquartered in Vancouver, BC creates products and services for the marine industry that allow people to enjoy time on and around the water.  The Company has manufacturing operations in Vancouver & Toronto, Canada; Genoa, Italy; Norfolk, USA and Ningbo, China and has a product range that extends from marine corrosion, dock products, anchoring solutions to steering and controls. CMP’s respected brands include: Martyr™ sacrificial anodes, Dock Edge +® dock & boating solutions, Rocna® & Vulcan® anchors, Titan® Marine Products, Octopus® Autopilot Drive Systems, Intellisteer® Remote Steering Systems and Seaguard® corrosion protection systems. The acquisition of MarineTech continues CMP’s strategy to grow its US presence and strengthens its position in the recreational marine industry.  “We are very excited about the strategic fit between MarineTech and CMP and believe that there are many advantages and opportunities for our customers, supply partners and our team” states Don Hambly, President & CEO, CMP Group. “MarineTech’s customer base and product offering are a perfect complement to CMP’s growing marine business.” Larry Grundtner, founder and owner of MarineTech will remain with the combined entity to help ensure a smooth transition and continued success. He commented that “This is a tremendous opportunity for MarineTech and our customers.” explains Larry Grundtner.  “By joining forces with CMP, we will leverage the expertise and resources of CMP to take MarineTech to the next level.” The Ironbridge team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value. For more information, contact: Peter Samson Managing Partner Ironbridge Equity Partners (416) 863-0102 www.ironbridgeequity.com Don Hambly CEO CMP Group Ltd. (604) 952-2664 www.cmpgroup.net

(Aurora, ON. March 6th, 2020) Thermogenics Inc. (“Thermogenics”), an Ironbridge portfolio company, is pleased to announce it has acquired Yown’s Boiler & Furnace Service, Inc. based in Jacksonville, FL (“Yown’s”). Founded in 1979, Yown’s is a full service boiler and industrial process burner company, providing sales, service, installation, and repairs of boilers, pressure vessels, piping systems, and industrial combustion applications. The company is led by an experienced management team, and is regarded as an established regional player in the Southeast US. Thermogenics is a leading North American manufacturer of coiled tube steam, hot water and thermal fluid boilers and related equipment. This product portfolio is primarily used within industrial, commercial and institutional applications, serving a variety of end markets including healthcare and hospitals, food and beverage and pharmaceutical. The company also provides best-in-class parts and 24/7 service support delivered via factory-trained technicians, and manages a fleet of unique rental boilers to serve temporary or emergency needs. With its comprehensive product and service offering, Thermogenics functions as a one-stop shop for all of its customers’ most complex steam and heating requirements. The company operates from its head office in Aurora, ON and maintains sales and service operations in Chicago, IL, Cincinnati, OH, and Ottawa, ON. The acquisition of Yown’s pushes forward Thermogenics’ US growth strategy, and allows the company to establish a strong presence in the US Southeast.  “We are very excited about the strategic fit between Yown’s and Thermogenics and believe there are many opportunities for customers, product vendors, and employees,” states Ross Garland, CEO, of Thermogenics. “Yown’s’ impressive product vendor line up and long history of customer centered service and leadership in the US Southeast is a perfect complement to Thermogenics’ regional expansion efforts.” Gary Yown, President and owner of Yown’s, will remain with the combined entity to help ensure a smooth transition and continued success. “This is a tremendous opportunity for our service customers, product vendors and employees,” explains Mr. Yown. “By joining forces with Thermogenics, we complement our existing product offering, expand the solution set we bring to customers in the region, and take Yown’s to the next level.” The Ironbridge team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value. For more information, contact: Jeff Murphy Partner Ironbridge Equity Partners (416) 863-0107 www.ironbridgeequity.com Ross Garland CEO Thermogenics Inc (416) 727-1901 www.thermogenics.com

(Toronto – August 8, 2019) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired the assets of MBRP Inc., which will continue operations as MBRP Ltd. (“MBRP” or the “Company”). MBRP, headquartered in Huntsville, Ontario, is a leading designer and manufacturer of high-performance exhaust systems for the automotive and recreational vehicle markets, including diesel and gas trucks, muscle cars, snowmobiles and ATVs. Founded in 1999, the Company provides performance vehicle enthusiasts with a large assortment of high-quality, innovative products such as full exhaust kits/systems, exhaust pipes, mufflers and exhaust tips. With a staff of over 120 employees operating from its manufacturing facility in Huntsville, MBRP serves a network of warehouse distributor, retailer and e-commerce customers across Canada and the United States. “With a proven track record of success in working with owner-operator businesses like ours, we are thrilled to work with the Ironbridge team to further scale and grow our business,” said MBRP Chief Executive Officer, Martin Barkey. “MBRP is very pleased to bring on board a partner in Ironbridge who shares our vision for the future.” “MBRP has established a great reputation in a community of loyal and passionate consumers,” said Peter Dowse, Partner at Ironbridge. “We are excited about the opportunity to work with a management team with so much enthusiasm for their product, and look forward to supporting meaningful growth for the business.” Ironbridge is investing in MBRP through the firm’s most recent fund: Ironbridge Equity Partners III, LP, a fully-committed, $238 million fund. Ironbridge’s team of twelve investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. For more information, contact: Peter Dowse Partner Ironbridge Equity Partners (416) 863-0106 
www.ironbridgeequity.com Martin Barkey Chief Executive Officer MBRP Ltd. (705) 788-2845 www.mbrp.com

(Toronto – July 16, 2019) We are pleased to announce the promotion of Anthony Creo and Connor Kingston to Vice President. Anthony joined Ironbridge as an Associate in 2015 and was promoted to Senior Associate in 2017. He currently serves as a director of Dumur Industries, AV Gauge & Fixture Inc., Advance Engineered Products Limited and GPS Products Inc. Anthony holds an Honours Business Administration degree from the Richard Ivey Business School where he graduated with distinction. He is also currently pursuing his CFA designation. Connor joined Ironbridge as an Associate in 2015 and was promoted to Senior Associate in 2017. He currently serves as a director of Thermogenics Inc., LaFrentz & Christenson Trucking Ltd. and Hank’s Maintenance and Service Co. Ltd., and is an observer on the boards of Alliance Corporation, Midland Appliance Ltd. and M&M Resources Inc. Connor holds a Master of Accounting and a Bachelor of Mathematics, specializing in Accounting and Finance, both from the University of Waterloo. He is also qualified as a Chartered Professional Accountant.

(Toronto – July 16, 2019) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have partnered with Alumni Classroom Furniture Inc. (“Alumni” or the “Company”) headquartered in Waterloo, ON. Alumni is a leading manufacturer and distributor of educational furniture for the pre-school through grade twelve market. Founded in 2004, the company’s mission is to create classroom environments that allow the best learning opportunities and outcomes for students. The company’s portfolio of education furniture solutions is focused on creating collaborative furniture that fits with today’s 21st century classroom. Alumni operates from three facilities in Canada, the United States and China to serve customers across North America. “Ironbridge brings both the capital and breadth of experience needed to accelerate our future growth across existing and adjacent markets,” said the founder of Alumni, Paul Godwin. “We will continue to offer the same outstanding products and solutions and there will be no changes to the team our customers and suppliers work with. We are excited to partner with Ironbridge as we embark on this next chapter.” “We are very impressed with Alumni’s strong in-house manufacturing capabilities and innovative product portfolio that has been shown to improve outcomes for students in the classroom,” said Andrew Walton, Partner at Ironbridge. “Through their commitment to quality, the management team at Alumni have built a highly regarded company that operates at the forefront of the industry.” For more information, contact: Andrew Walton
 Partner Ironbridge Equity Partners (416) 863-2274 
www.ironbridgeequity.com Paul Godwin 
Founder 
Alumni Classroom Furniture Inc.
 (519) 888-9300 www.alumnicf.com

(Toronto – October 25, 2018) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have completed the sale of Frischkorn Audio-Visual Corp. (“FMAV” or the “company”) to PSAV, a portfolio company of Blackstone (NYSE:BX) (“Blackstone”). The financial terms of the transaction were not disclosed. Over the course of its investment, Ironbridge supported management to expand the company’s national market share by completing three acquisitions, investing in sales capabilities, and improving internal systems and processes. “Partnering with the FMAV management team was an excellent experience for Ironbridge. Bill and his team did an impressive job growing the business over the last five years.” said Peter Samson, Managing Partner of Ironbridge. “We appreciate management’s dedication and wish them continued success in their new partnership with PSAV.” “Ironbridge was a valuable partner for the FMAV management team,” said Bill Brown, President and CEO of FMAV. “They played an integral role supporting us as we executed our strategic plan and grew the business into a national platform. We are grateful to the Ironbridge team for their backing and are excited about the next chapter of growth with PSAV and Blackstone.” Frischkorn was the first investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund. About FMAV: FMAV is Canada’s leading independent provider of audio-visual services to corporate clients. Over the last 42 years, FMAV has built a strong, well-recognized national brand by continually providing high-quality event production for corporate events, association events, galas, conventions, product launches and hotel meetings. FMAV employs a workforce of highly-trained technicians and maintains a stock of equipment with the latest technological advancements, allowing it to be an innovative, one-stop source of supply for audio-visual services in Canada. About Ironbridge: Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies. Target industries include consumer and business products and services, manufacturing, and distribution. The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses. Ironbridge’s assets under management are over $400 million including its third private equity fund, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund raised in April 2016. For more information, contact: Peter Samson
 Managing Partner Ironbridge Equity Partners (416) 863-0102 
www.ironbridgeequity.com Bill Brown President & CEO FMAV
(905) 281-9328 www.fmav.ca

(Toronto – October 12, 2018) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have partnered with Canada Metal (Pacific) Limited (“CMP” or the “Company”) of Delta, BC. Canada Metal (Pacific) Limited is a leading manufacturer and distributor of branded products serving the recreational marine, commercial marine and industrial markets. Founded in the early 1900s, the company has leading market share globally in OEM and aftermarket anodes for marine pleasure-craft. The company operates in six facilities across Canada, The United States, China, Australia and Italy and leverages its global reach to enable low-cost manufacturing and efficient access to customers in major markets around the world. “We are very impressed with the company’s breadth of in-house capabilities, their international distribution network, and unique products. This has made CMP a market leader,” said Peter Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in the marketplace for new and innovative branded products. We believe that this provides an excellent platform for future growth.” “Ironbridge brings a solid track record of enabling businesses like ours to improve operational efficiencies as well as providing capital to support dynamic growth initiatives,” said CMP president, John Mitchell. “All of us at CMP are very pleased to bring on board such a strategic and energetic new partner.” Ironbridge is investing in CMP through the firm’s most recent fund: Ironbridge Equity Partners III, LP, which is a fully-committed $238 million fund. Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. For more information, contact: Jeffrey Murphy
 Partner Ironbridge Equity Partners (416) 863-0107 www.ironbridgeequity.com John Mitchell
 President Canada Metal (Pacific) Limited (604) 940-2010 www.cmpgroup.net

(Toronto June 1, 2018) A V Gauge & Fixture Inc. (“AV Gauge”), an Ironbridge portfolio company, is pleased to announce it has merged with Absolute Industrial Management Inc. (“Absolute Industrial Automation”). Established in 2009, Absolute Industrial Automation designs, builds and integrates automated assembly, welding and processing equipment. Based in Windsor, Ontario, the company has 26 employees serving customers in Canada, the United States and Mexico. In 2016 and 2017 it was recognized as one of Profit 500 magazine’s fastest growing companies. AV Gauge is a leading manufacturer of specialized gauging and check fixture equipment for the automotive industry. Founded in 1985, the company supplies most major OEMs and Tier-I’s, and operates in eight facilities across Canada, the United States and Mexico. Vertically integrated, AV Gauge strives to employ the best people, utilize the latest technologies and adopt the most efficient processes to satisfy customers. AV Gauge was named one of Canada’s Best Managed Companies in 2018. “This merger is part of our strategic plan and provides benefits to our employees, customers and each corporation. We believe that when we put our greatest efforts into being our customers’ top partner while serving our employees’ best interests, we achieve our finest successes.” said Mark Rossi, President of Absolute Industrial Automation. Denis Levasseur, CEO of AV Gauge said, “Our industry is continuously evolving and is being shaped by technology, consolidation and globalization. We are leaders in our fields of expertise and by joining forces we are better able to serve our customers’ needs.” The Ironbridge team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value. For more information, contact: Denis Levasseur CEO A V Gauge & Fixture Inc. (519) 737-7677 www.avgauge.com Mark Rossi President Absolute Industrial Automation (519) 737-0497 www.absoluteind.com Alan Sellery Managing Partner Ironbridge Equity Partners (416) 863-0101 www.ironbridgeequity.com

(Toronto – June 1, 2018) Dumur Industries (“Dumur”), an Ironbridge Equity Partners (“Ironbridge”) portfolio company, is pleased to announce it has acquired the assets of Dellcom Aerospace Inc. (“Dellcom” or the “Company”) of Concord, Ontario. Founded in 1980, Dellcom is a precision machining and sub-assembly provider to OEM and Tier 1 aerospace customers. The company specializes in rapid manufacturing of small to mid-sized airframe components and provides value-engineering services to customers. Dellcom is AS9001 Rev. C certified and offers Blue-Streak manufacturing services. Dumur is a precision metal fabrication and machining business primarily servicing the military and aerospace sectors. It offers full-service, design-to-delivery fabrication and machining for a wide range of projects from parts production runs to complex, custom-fabricated assemblies. Dumur has specific domain expertise in manufacturing components for light armored vehicles for North America’s largest defence contractors. Ian Harrison, President of Dumur, said, “We are excited to combine the expertise and capabilities of Dellcom and Dumur to strengthen our offering to customers in both aerospace and defense. We believe our customers will benefit from our increased capacity and expanded service offering.” Ironbridge’s team of eleven professionals invests in Canadian lower middle-market businesses in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. For more information, contact: Ian Harrison President Dumur Industries (306) 337-8801 www.dumurindustries.com Mark Bathurst Vice President Dellcom Aerospace (416) 459-9277 www.vertexprecision.com/dellcom Jeff Murphy Partner Ironbridge Equity Partners (416) 863-0107 www.ironbridgeequity.com

(Toronto – December 7, 2017) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have purchased the assets of Midland Appliance Ltd., BCH Transport Ltd. and Innovative Appliance Distributors Ltd., (together, "Midland" or the “Company”) of Richmond, British Columbia. Founded in 1984, by Tom Hleucka, Midland is a leading dealer of premium and super premium branded home appliances throughout Western Canada. The Company serves its network of developer, builder, designer and architect customers with a team of over 60 employees operating from its headquarters in Richmond, B.C., an additional location in Vancouver, B.C., and a sales presence in Calgary, Alberta. “From our first meeting with Ironbridge, Ken Harris (Executive Vice President) and I knew they were the right partners for the next chapter of growth,” said David Bast, President of Midland. “In partnering with Ironbridge and Lee Methot, a highly accomplished appliance industry executive, Midland gains invaluable access to a breadth of operational expertise and business experience, combined with a culture of integrity that is aligned with our own.” “Over the years, Midland has developed a reputation for excellence with its customers in Western Canada. With the Company’s broad product portfolio of premium appliances and deep network of industry relationships, we believe the business is a great platform for growth,” said Andrew Walton, Partner at Ironbridge. “We are pleased to be partnering with the Midland team.” Midland is the third investment in Ironbridge’s third private equity fund, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund. Ironbridge’s team of twelve professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. For more information, contact: Andrew Walton Partner Ironbridge Equity Partners (416) 867-2274 www.ironbridgeequity.com David Bast President Midland Appliance (604) 278-6131 www.midlandappliance.com

(Toronto – July 31, 2017) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have partnered with A V Gauge & Fixture Inc. ("AV Gauge" or the “Company”) of Oldcastle, Ontario. A V Gauge & Fixture Inc. is a leading manufacturer of specialized gauging and check fixture equipment for the automotive industry. Founded in 1985, the company supplies most major OEMs and Tier-I’s and operates in 8 facilities across Canada, United States and Mexico. Vertically integrated, AV Gauge strives to employ the best people, utilize the latest technologies and adopt the most efficient processes to satisfy customers. The company was named as one of Canada’s Best Managed Companies in 2017. “We are very impressed with the company’s breadth of in-house capabilities and operating efficiency. This has made AV Gauge a market leader.” said Peter Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in the marketplace for on time delivery of high quality products for the most complex jobs.  We believe this provides an excellent platform for future growth.” “The Ironbridge team has a proven history of success, and will work with us to help execute our strategy to continue to grow and diversify,” said Denis Levasseur, CEO of AV Gauge. “We believe that Ironbridge’s operating expertise and business experience gives us the additional resources to further scale and grow AV Gauge by maintaining our commitment to delivering the highest quality product to our customers.” Ironbridge is investing in AV Gauge jointly through the firm’s two most recent funds:  Ironbridge Equity Partners II, LP, a fully-committed $154 million fund; and, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund. Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. CIBC acted as the exclusive financial advisor to AV Gauge in connection with the transaction. For more information, contact: Peter Samson Managing Partner Ironbridge Equity Partners (416) 863-0102 www.ironbridgeequity.com Denis Levasseur CEO A V Gauge & Fixture Inc. (519) 737-7677 www.avgauge.com

(Toronto – June 30, 2017) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that it has purchased the assets of Armtec LP’s Ontario Standard Precast Concrete division (the “Business”), which will operate as Power Precast Solutions Ltd. (“Power Precast”) in Ottawa, and Brooklin Concrete Products Corp. (“Brooklin Concrete”) in the remaining locations. The Business is a leading manufacturer of precast landscaping and structural concrete building products, backed by a 60-year history in the industry. With a staff of over 150 employees operating from facilities in Brooklin, Ottawa, Huntsville, Newmarket and Haliburton, the Business serves customers across Ontario as well as Quebec and the state of New York. “We are excited to work with the great team at Brooklin Concrete and Power Precast,” said Peter Dowse, Partner and Chief Financial Officer at Ironbridge. “They have an outstanding reputation in the industry and we believe the business has great opportunities for growth.” The investment is the eleventh in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund. Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. For more information contact: Peter Dowse Partner and Chief Financial Officer Ironbridge Equity Partners (416) 863-0106 www.ironbridgeequity.com

(TORONTO, June 1, 2017) - Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired Avena Foods Limited ("Avena" or the “Company”) of Regina, Saskatchewan. Avena is a leading supplier of gluten-free oats to the North American market. Since 2008, Avena has been providing its customers and consumers with consistent, superior quality, certified gluten-free oats – guaranteed to be wheat, barley, and rye-free. With a dedicated gluten-free facility, a network of gluten-free growers across Western Canada, and a controlled distribution system, Avena has become the industry leader for oat purity and has established its Purity Protocol as the industry standard for the production of gluten-free oats. “From our first meeting, we were very impressed with the business that the Avena team has built,” said Peter Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in their market for consistent product purity, and we believe this gives them an excellent platform as they look to continue to grow in this dynamic industry.” “The Ironbridge team has a proven history of success, and will work with us to implement our strategy as we continue to grow and diversify,” said Rob Stephen, CEO of Avena Foods. “We believe Ironbridge’s operating experience and business expertise will provide us with the resources we need to scale and grow our company while maintaining our dedication to superior quality and product purity.” Avena is the tenth investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund. Ironbridge’s team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value. Origin Merchant Partners acted as exclusive financial advisor to Avena in connection with the transaction. For more information, contact: Peter Samson Managing Partner Ironbridge Equity Partners (416) 863-0102 www.ironbridgeequity.com Rob Stephen CEO Avena Foods Limited (306) 757-3664 www.avenafoods.com

(Toronto – November 23, 2016) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have entered into an agreement to sell Demers, Ambulance Manufacturer Inc. (“Demers” or the “Company”) to an entity controlled by Clearspring Capital Partners (“Clearspring”). The financial terms of the transaction were not disclosed. Over the course of its investment, Ironbridge worked alongside management to expand its distribution footprint in the U.S., open a U.S. manufacturing facility, improve internal systems and processes, and reduce required working capital needs. “The Demers management team were excellent partners and did a tremendous job growing the business and executing the U.S. growth strategy” said Pete Samson, Managing Partner of Ironbridge. “We are very thankful for the constructive partnership with management and wish them all the best under Clearspring’s ownership.” “Ironbridge was a great partner and sounding board for the Demers management team,” said Alain Brunelle, President of Demers. “Ironbridge helped us to stay focused on executing our strategic plan and growing the business. We thank the Ironbridge team for their support and are excited about our next stage of growth with Clearspring.” Demers was the second investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund. About Demers: Headquartered in Beloeil, Quebec, Demers is the Canadian leader in ambulance design, manufacturing and distribution, and is the second-largest industry participant in North America. Demers produces state-of-the-art ambulances which are sold both directly to customers and indirectly through a dealer network. Demers serves over 400 clients composed mainly of government agencies, fire departments, public ambulance services, private ambulance services and hospitals. Through its commitment to quality and innovation, the Company offers best-in-class ambulances with a proven track record of long-term durability and efficient operating costs. About Ironbridge: Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies. Target industries include consumer and business products and services, manufacturing, and distribution. The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses. Ironbridge’s assets under management are over $400 million including its third private equity fund, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund raised in April 2016. For more information, contact: Peter Sampson Managing Partner Ironbridge Equity Partners (416) 863-0102 www.ironbridgeequity.com Alain Brunelle President Demers, Ambulance Manufacturer Inc. (450) 467-4683 ext. 224 www.demers-ambulances.com

(TORONTO, May 3, 2016) – Ironbridge Equity Partners (“Ironbridge”) today announced that it has completed the first and final closing of its third private equity fund, Ironbridge Equity Partners III, LP (“Fund III” or the “Fund”). Ironbridge raised CAD $238 million from investors in Canada, the US, the UK and the Middle East, and surpassed its target of CAD $200 million. Fund III represents a 55% increase in capital from the predecessor vehicle, Ironbridge Equity Partners II, LP (“Fund II”) which had its final closing in April, 2014. Oversubscribed by institutional investors, the Fund closed at its hard cap within three months of launching and brings Ironbridge’s assets under management to over CAD $400 million. Alan Sellery, Managing Partner of Ironbridge commented, “We are very pleased with the support we received from our existing investors, many of whom have materially increased their commitments to Fund III. We would also like to welcome our new investors to the Fund, and look forward to creating long-term relationships with these institutions and individuals. With the new Fund, we will continue to execute the same successful investing strategy that we have pursued since our founding in 2005: partner with exceptional management teams to facilitate owner-operator transitions, corporate carve-outs, turnarounds and growth financings in the Canadian lower middle-market.” Ironbridge invests in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge’s nine investment professionals have extensive financial and operating experience, and work closely with the management teams of its portfolio companies to enhance value. Elm Capital acted as the exclusive placement agent for the Fund. For more information, contact: Alan Sellery Managing Partner Ironbridge Equity Partners (416) 863-0101 www.ironbridgeequity.com Etienne Deshormes CEO Elm Capital Associates Ltd Elm Capital USA Ltd +44 20 7901 8941 www.elmcapital.com

(TORONTO, March 14, 2016) - Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that it, together with management, has made an investment in Thermogenics Inc. ("Thermogenics" or the “Company”) of Aurora, Ontario. Originally established in 1975, Thermogenics is a leading manufacturer of coil-tube steam and hot-water boilers and related equipment used in industrial, commercial and institutional applications in the North American market. The Company also provides “best-in-class” parts and maintenance services to its installed base via its team of factory trained technicians. With its comprehensive product and service offering, Thermogenics functions as a “one-stop shop” for all of its customers’ heating and steam requirements. The Company currently operates out of a 27,000 square foot manufacturing and service facility in Aurora, Ontario and dedicated sales and service office located in Cincinnati, Ohio. “We are anxious to begin working with Ironbridge on the next chapter of growth for Thermogenics,” said Bryan Heppell, President of Thermogenics. “We believe the breadth of operating experience and expertise that Ironbridge brings to the table, as well as their proven track record of success in partnering with owner-operators will provide us with the resources we need to scale and grow our business, without compromising the superior level of service we currently provide to our customer base.” “The management team at Thermogenics has done a tremendous job developing a brand name and excellent reputation within the industry as the premier provider of coil-tube boiler products, parts and services, positioning themselves to capitalize on the forecast growth in industrial activity and infrastructure spend within North America,” said Jeff Murphy, Partner at Ironbridge. “We are very excited to partner with this highly passionate and ambitious management team as we pursue the many growth opportunities available to the business.” Thermogenics is the eighth investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund. Ironbridge’s team of nine professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value For more information, contact: Jeff Murphy Partner Ironbridge Equity Partners (416) 863-0107 www.ironbridgeequity.com Bryan Heppell President Thermogenics Inc. (905) 727-1901 www.thermogenicsboilers.com

(TORONTO, January 11, 2016) – Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have made an investment in Back in Motion Rehab Inc. ("Back in Motion" or the “Company”) of Richmond, British Columbia. Back in Motion is a leading provider of employment, rehabilitation and physiotherapy services. For over 20 years, the Company has been dedicated to helping people overcome barriers and reach their full employment potential. Back in Motion delivers flexible, accessible interdisciplinary rehabilitation, disability management and employment services that recognize the uniqueness of each person. With a staff of over 250 dedicated, enthusiastic people, it serves ten communities across Metro Vancouver and is known for creative solutions and exceptional results. “We are excited to work with the great team at Back in Motion,” said Pete Samson, Managing Partner at Ironbridge. “They have an outstanding reputation in their market, and we believe that gives them an excellent platform as they look to expand the scale and scope of their business.” “The Ironbridge team has a proven track record, and will work with us to refine and implement our vision and business strategy as we grow and diversify,” said Debbie Samsom, President of Back in Motion. “Through this partnership, Back in Motion will have access to national expertise and high caliber talent, and work with a company whose corporate culture of excellence and integrity is aligned with our own.” Back in Motion is the seventh investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund. Ironbridge’s team of nine investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value For more information, contact: Peter Samson Managing Partner Ironbridge Equity Partners (416) 863-0102 www.ironbridgeequity.com Debbie Samsom President Back in Motion Rehab Inc. (604) 273-7600 www.backinmotion.com