Pine Street Capital Partners III, LP (“PSCP”) is pleased to announce an active and successful 2019. Highlights include the closing of the following platform investments:

• A mezzanine debt and equity investment in Aloi Material Handling & Automation (“Aloi”) to finance its acquisition of Automated Cells & Equipment, Inc. (“ACE”). Aloi is a Rochester, NY-based integrator and value-added distributor of material handling solutions for various end markets. ACE, based in Painted Post, NY, provides advanced factory automation and robotics solutions for companies across multiple industries. PSCP partnered with a Boston based private investment firm and ALOI and ACE management to effectuate the acquisition.

• A mezzanine debt and equity investment to support the acquisition of Cinchseal Associates, Inc. (“Cinchseal”). Based in Mt. Laurel, NJ, Cinchseal is a leading designer and manufacturer of rotary shaft seals for multiple end markets. PSCP partnered with Fulham & Co. and Cinchseal management.
  
  
• A mezzanine debt and equity investment in NPL Homecare, LLC (“NPL”). NPL, headquartered in Elyria, OH, is a leading provider of mobility equipment, particularly customized wheelchairs. PSCP partnered with Red Fence Holdings and NPL management.
  
  
• A mezzanine debt and equity investment in DeIorio Foods, Inc. (“DeIorio”). DeIorio, headquartered in Utica, NY, is a supplier of high-quality, frozen dough products to food service outlets. PSCP partnered with Rudolph Capital and DeIorio management.
  
  

In 2019, PSCP also made five follow-on investments into four current portfolio companies to support acquisitions.

• A mezzanine debt and equity investment in Aloi Material Handling & Automation (“Aloi”) to finance its acquisition of Automated Cells & Equipment, Inc. (“ACE”). Aloi is a Rochester, NY based integrator and value-added distributor of material handling solutions for various end markets. ACE, based in Painted Post, NY, provides advanced factory automation and robotics solutions for companies across multiple industries. PSCP partnered with a Boston based private investment firm and ALOI and ACE management to effectuate the acquisition.
  
  
• A mezzanine debt and equity investment to support the acquisition of Cinchseal Associates, Inc. (“Cinchseal”). Based in Mt. Laurel, NJ, Cinchseal is a leading designer and manufacturer of rotary shaft seals for multiple end markets. PSCP partnered with Fulham & Co. and Cinchseal management. A mezzanine debt and equity investment in NPL Homecare, LLC (“NPL”). NPL, headquartered in Elyria, OH, is a leading provider of mobility equipment, particularly customized wheelchairs. PSCP partnered with Red Fence Holdings and NPL management.
  
  
• A mezzanine debt and equity investment in DeIorio Foods, Inc. (“DeIorio”). DeIorio, headquartered in Utica, NY, is a supplier of high quality, frozen dough products to food service outlets. PSCP partnered with Rudolph Capital and DeIorio management.
  
  

  In 2019, PSCP also made five follow-on investments into four current portfolio companies to support acquisitions.

• A mezzanine debt investment in Peltram Plumbing Holdings, LLC. (“Peltram”), a provider of residential and commercial plumbing and mechanical services. Peltram is based in Auburn, WA.
  
  
• A mezzanine debt and equity investment in Lumina Vision Partners, LLC. (“Lumina”), a network of patient-centric optometric practices. Follow-on mezzanine debt and equity investments were made soon after closing to acquire an additional practice. Lumina is based in Scottsdale, AZ.
  
  
• A mezzanine debt and equity investment in DSD Holdings, LLC. (“DSD”), a leader in the design, development, equipment specification, and installation of shop equipment for automobile fixed operation facilities. DSD is based in Duluth, GA.
  
  
• A follow-on equity investment in current portfolio company National EC Services, Inc. (“NECS”) to support the acquisition of Alden Research Laboratories, Inc., headquartered in Holden, MA. NECS is a premier environmental and engineering consulting firm specializing in the environmental, energy, and infrastructure markets in the Midwest and Mid-Atlantic regions.
  
  
• A follow-on equity investment in current portfolio company Ardurra Group, Inc. (“Ardurra”) to support the acquisition of Fulghum, MacIndoe & Associates, based in Knoxville, TN. Ardurra is a civil and environmental engineering services company that serves both private and public sectors.

• Mercantile Adjustment Bureau, LLC, a full service provider of account receivables management based in Buffalo, NY that offers national account coverage with full service collection services, including skip tracing, letter series and telephone demands, dunning, and credit reporting.
  
  
• Renovation Brands, a manufacturer and online retailer of home decor and building improvement products such as custom fireplace mantels, decorative ceiling/wall tiles, kitchen and bath cabinets, floor registers, and electric fireplaces.

• A mezzanine debt and equity investment in Full Spectrum Software and Intertech Engineering Associates, providers of software and engineering services to customers in the medical device, life sciences, and technology industries. Full Spectrum Software is headquartered in Southborough, MA and Intertech Engineering Associates is headquartered in Westwood, MA.
  
  
• A follow-on debt investment in current portfolio company Boutique Brands, LLC (“Boutique Brands”) to support the recent acquisition of Filly Flair, LLC, based in Sioux Falls, SD.  Boutique Brands acquires and operates online boutique retailers of quick- turning, value-priced women’s apparel.
  
  
• A follow-on debt and equity investment in current portfolio company Hull & Associates, LLC (“Hull”) to support the recent acquisitions of Duffield Associates, Inc, based in Wilmington, DE, and HSW Engineering Inc., based in Tampa, FL.  Hull is a premier environmental and engineering consulting firm specializing in the environment, energy, and infrastructure markets in the Midwest and Mid-Atlantic regions.