PINE GROVE HOLDINGS ANNOUNCES THE ACQUISITION OF ONE OF THE LEADING NORTH AMERICAN COMPONENT MANUFACTURERS, KKSP PRECISION MACHINING

On June 28, 2022 Ms. Nelda J. Connors, Founder and CEO of Pine Grove Holdings led the acquisition of one of the leading North American Component Manufacturers.
On June 28, 2022 Ms. Nelda J. Connors, Founder and CEO of Pine Grove Holdings led the acquisition of one of the leading North American Component Manufacturers.

PINE GROVE HOLDINGS ANNOUNCES THE ACQUISITION OF ONE OF THE LEADING NORTH AMERICAN COMPONENT MANUFACTURERS, KKSP PRECISION MACHINING

Pine Grove Holdings LLC (“Pine Grove”), an executive-led operations and investment firm focused on companies with high engineering content, announced today the acquisition of the majority interest in KKSP Precision Machining LLC (“KKSP”), one of North America’s leading manufacturers of precision metal components, from Mill
Point Capital LLC (“Mill Point Capital”), a private equity firm, who will remain a minority investor .

Since 2017, KKSP has experienced tremendous success through the enhancement of technical capabilities, strategic M&A and rapid expansion into the Northeastern United States and Mexico, and into catalog components market. Under the leadership of Dave Dolan, President and CEO of KKSP Precision Machining, KKSP has flawlessly
executed on their Value Creation Plan, creating an industry leader poised to thrive in its end markets.

“KKSP has an impressive legacy of world-class product quality and customer service across its five facilities in the U.S. and Mexico,” said Nelda J. Connors, Founder and CEO of Pine Grove Holdings. “The growth potential of KKSP is exciting as we work alongside the KKSP leadership team and its employees and suppliers to realize additional
business potential and value for our customers.”

“By partnering with Pine Grove Holdings, and through Mill Point’s continued involvement, this transaction demonstrates KKSP’s ability to attract and work alongside preeminent investment partners to
expand capabilities and services for its customers and deliver value to its investors. We look forward to the next phase of KKSP’s evolution and working closely with Nelda J. Connors of Pine Grove Holdings,” said Dave Dolan.

About Pine Grove Holdings

Pine Grove Holdings LLC is a privately held
investment company focused on acquiring and operating middle-market businesses with a high engineering component. These investments are primarily focused in power generation, specialty logistics and transportation, SAAS and advanced materials. Pine Grove Holdings is based in Chicago, IL. For more information, please visit www.pinegroveholdings.com.

About Mill Point Capital
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies in North America across the industrials, business services and IT services sectors in North America. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.

About KKSP Precision Machining
Headquartered in Glendale Heights, IL, KKSP Precision Machining LLC is one of the lar gest manufacturers of machined metal components produced primarily on automatic screw machines. Founded in 1968, the company has evolved into a leading player in the precision turned components industry with facilities in Illinois, Wisconsin, Michigan, Mexico, and Connecticut. KKSP operates over 570 primary machines and produces over 350 million parts annually to exacting print specifications for a diverse customer base including HVAC, fire suppression, appliance, defense, automotive, heavy truck, plumbing, medical and marine industries. For more information, please
visit www.kksp.com.

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