October 2021

Pine Street Capital Partners III, LP is pleased to announce the following new investments: 

• 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. 

In addition, Pine Street Capital II has successfully exited the following investments: 

• 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. 

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria.  We are committed to responding quickly to opportunities in a thoughtful and transparent manner. 

July 2021

Pine Street Capital Partners III, LP is pleased to announce the following investments: 

• A mezzanine debt and equity investment in First Impression Ironworks, Inc. (“FII”), a leading designer, manufacturer and installer of premium iron products for U.S. homes. FII is based in Gilbert, AZ. 
• A follow-on equity investment in current portfolio company Ardurra Group, Inc. (“Ardurra”) to support the acquisition of Infrastructure Engineering Corporation, based in San Diego, CA.  Ardurra is a civil and environmental engineering services company that serves both private and public sectors. 
• A follow-on equity investment in current portfolio company National EC Services, Inc. (“NECS”) to support the acquisition of GeoInsight, Inc., based in Manchester, NH.  NECS is a premier environmental and engineering consulting firm specializing in the environmental, energy and infrastructure markets in the Midwest and Mid-Atlantic regions. 

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria.  We are committed to responding quickly to opportunities in a thoughtful and transparent manner. 

April 2021

Pine Street Capital Partners III, LP is pleased to announce a new investment as well as a successful exit in the first quarter of 2021:

• A mezzanine debt and equity investment in Taylor Stitch, a men’s casual apparel brand selling primarily via its branded website. Taylor Stitch is headquartered in San Francisco, CA.
• A successful exit from Anser Advisory, LLC, a national firm specializing in capital program advisory and consulting services, which include strategy, funding, process development, organization preparedness, as well as project, program and agency construction management and controls. Anser serves public and private customers in various end markets. 

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria.  We are committed to responding quickly to opportunities in a thoughtful and transparent manner. 

January 2021

Pine Street Capital Partners (Pine Street) is pleased to have remained active in the private markets as investment activity recovered during a difficult year.  The following is our investment activity for the fourth quarter:

Pine Street Capital Partners II, LP had a successful exit from its investment in Wood Pro, a value-added distributor of flooring products to the professional market.

Pine Street Capital Partners III, LP made the following new investments:

•  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.

 We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria.  We are committed to responding quickly to opportunities in a thoughtful and transparent manner. 

Pine Street Capital Partners III, LP (“PSCP”) is pleased to announce the following investments:

• A mezzanine debt and equity investment in Hull & Associates, LLC (“Hull”). Hull is a Dublin, OH based premier environmental and engineering consulting firm specializing in the Environment, Energy, and Infrastructure markets in the Midwest and Mid-Atlantic regions. PSCP partnered with a New York, NY based private equity firm.
• A follow-on equity investment in current portfolio company Anser Advisory (“Anser”) to support the recent acquisition of H.R. Gray & Associates, Inc., based in Columbus, OH. Anser Advisory is a national firm specializing in capital program funding, program management, project management, construction management, and executive advisory services.

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. Our latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. We have a broad investment mandate, with a preference for niche manufacturers, business services, health care, and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

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.

We have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. Our latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. We have a broad investment mandate, with a preference for niche manufacturers, business services, health care, and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners III, LP (“PSCP”) is pleased to announce the following recent 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 is based in Painted Post, NY and 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 follow-on equity investment in current portfolio company Anser Advisory (“Anser”) to support the recent acquisitions of Cambridge Construction Management, Inc., based in Clinton, NJ, and DHS Consulting, Inc., based in Santa Ana, CA. Anser Advisory is a national firm specializing in capital program funding, program management, project management, construction management, and executive advisory services.

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. Our latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. We have a broad investment mandate, with a preference for niche manufacturers, business services, health care, and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners III, LP (“PSCP”) is pleased to announce an active and successful 2018. Highlights include the closing of the following investments:

• A mezzanine debt investment in NEMO Equipment (“NEMO”). Based in Dover, NH, NEMO is an innovative designer and manufacturer of premium outdoor gear, including tents, sleeping bags, sleeping pads, hammocks, and furniture. PSCP is partnering with management to support NEMO’s growth plans and continued success.
• A mezzanine debt and equity investment to support the acquisition of four leading program management firms collectively operating as Anser Advisory (“Anser”), a national firm specializing in capital program funding, program management, project management, construction management, and executive advisory services to the public and private sectors. PSCP supported a NYC-based private equity firm on this transaction.
• A mezzanine debt and equity investment to support the acquisition of Boutique Brands (“BB”). BB is a collection of online boutique retailers of quick-turning value-priced women’s apparel, currently comprised of Discount Divas, located in Huntsville, AL, and Lime Lush, based in Salt Lake City, UT. PSCP supported a Boston-based private equity firm on this transaction.
• A mezzanine debt and equity investment to support the acquisition of Filterworks USA, Inc. (“Filterworks”). Filterworks, based in Deerfield Beach, FL, is a leading layout and design, capital equipment, and service provider to the automotive collision repair industry. PSCP supported a Georgia-based private equity firm on this transaction.

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. Our latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. We have a broad investment mandate, with a preference for niche manufacturers, business services, health care, and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners III, LP (PSCP III) is pleased to announce a new investment in NEMO Equipment. Based in Dover, New Hampshire, NEMO is an innovative designer and manufacturer of premium outdoor gear, including tents, sleeping bags, sleeping pads, hammocks, and furniture. PSCP III is partnering with management to support NEMO's growth plans and continued success.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners ("PSCP") is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

We are proud to announce the addition of Jack Walsh to our team. Jack recently joined Pine Street as a Senior Associate in our Wellesley, MA office.

Previously, Jack was an Associate at Citizens Bank in Boston, MA. At Citizens, he was part of the leveraged finance and capital markets team responsible for evaluating and underwriting leveraged finance investment opportunities for middle market and mid-corporate companies across a variety of industries and transactions types. Jack also spent time in Citizens' restructuring and workout group. He is a graduate of Skidmore College (BS), where he was captain of the varsity hockey team.

At Pine Street, Jack will be involved with investment evaluation and execution, portfolio management, and deal flow generation.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners is pleased to announce the following recent investments:

• A mezzanine debt and equity investment to support the recapitalization and debt refinancing of Merrill Industries. Based in Ellington, CT, Merrill is a packaging company, providing primarily corrugated packaging to industrial customers located mostly in Southern New England. We are co-investors in the transaction with Advantage Capital Connecticut.
• A mezzanine debt and equity investment to support the acquisition of Artifact Uprising by Digital Fuel Capital. Based in Denver, CO, Artifact Uprising is an ecommerce provider of premium photo products (e.g., photo books, prints, framed wall photos, photo cards, and gifts). PSCP co-invested in this transaction with Bay Capital and Eagle Private Capital.

We also are excited to announce the addition of Callie Carpenter to our team. Callie joined as Controller after spending several years at Leverpoint Management, a third party fund administrator. Callie is located in our Albany, NY office.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners III, LP (PSCP III) is pleased to announce a new investment in King Engineering Associates, Inc. ("King"). Based in Tampa, FL, King is a civil and environmental engineering services company serving both the public and private sectors. PSCP co-invested in this transaction with Kain Capital and Harvest Capital Credit. The investor group is partnering with management to support King's growth.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Management is pleased to announce its first investment out of Pine Street Capital Partners III, LP (PSCP III), which was launched in Q4 2016. Nelson Worldwide ("NELSON"), based in Philadelphia, PA, is a leading integrated design and consulting organization with a diverse product offering catering to a wide range of end markets. NELSON offers global design, architecture, engineering, branding, space planning and space management services primarily in the commercial real estate sector. PSCP co-invested in this transaction with NewSpring Mezzanine Capital, Salem Investment Partners, and a subsidiary of Kemper Corporation (NYSE: KMPR). The investor group is partnering with management to support Nelson's growth.

Additionally, a second closing was held on PSCP III in March. PSCP III is now at its initial targeted capital amount. A final closing is expected later this year.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners ("PSCP") is pleased to announce an active and successful 2016. Highlights include:

• Held a first closing on Pine Street Capital Partners III, LP in conjunction with the receipt of our second Small Business Investment Company (SBIC) license from the US Small Business Administration in September.
• Successfully exited four investments from PSCP II, as highlighted below:
• In December, PSCP exited from its investment in Scotia Technology, a Laconia, NH, based niche supplier of tube assembly components for the aircraft and aerospace industries.
• In December, PSCP exited from its investment in Merrill Industries, a packaging company providing corrugated packaging solutions to industrial customers located primarily in Southern New England. Merrill is located in Ellington, CT.
• In October, PSCP exited from its investment in Thermacore, a designer and manufacturer of highly engineered thermal management and material solutions. Thermacore is based in Lancaster, PA.
• In June, PSCP exited from its investment in GenServe, a supplier and servicer of backup power solutions based in Plainview, NY.

We have a strong pipeline of opportunities heading into 2017 and are actively seeking new investments for PSCP III which meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners (“PSCP”) is pleased to announce it has successfully exited from two investments out of PSCP II:

• In June, PSCP exited from its investment in GenServe, a supplier and servicer of backup power solutions based in Plainview, NY.
• In October, PSCP exited from its investment in Thermacore, a designer and manufacturer of highly engineered thermal management and material solutions. Thermacore is based in Lancaster, PA.

We are actively seeking new investments for PSCP III which meet our criteria and are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners ("PSCP") is pleased to announce that it has received approval from the U.S. Small Business Administration ("SBA") for its second Small Business Investment Company ("SBIC") license and has held a first closing of Pine Street Capital Partners III, LP ("PSCP III").

Consistent with the investment strategy of its predecessor funds, PSCP III will provide subordinated debt and minority equity capital to high quality middle market companies based in the United States. PSCP III will invest $3-10 million per transaction to support corporate growth initiatives, acquisitions, recapitalizations and change of control situations.

Since 2005, PSCP has invested approximately $100 million in over 30 businesses to help middle market company owners and management meet their personal and corporate objectives. Fund principals greatly appreciate the support of the SBA and our private investor base to allow us to continue our successful investment strategy.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners (PSCP) is pleased to announce the following recent investments:

• A mezzanine debt and preferred equity investment to support the acquisition of Power Technology Southeast, Inc. (Power Tech) by Fulham & Company. Based in Leesburg, FL, Power Tech is a manufacturer of customized generator sets used in mobile environments. End markets include mobile communications, service trucks, emergency vehicles, and military vehicles, among others. PSCP co-invested in this transaction with Spring Capital Partners III, LP.
• A mezzanine debt and equity investment to support the acquisition of Artful Home by Digital Fuel Partners. Based in Madison, WI, Artful Home offers a selected assortment of artist-made home apparel, décor, and art. The company provides artists with a national marketing platform and consumers a curated selection of unique products. PSCP co-invested in this transaction with Digital Fuel Partners and Eagle Private Capital.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners II, LP (PSCP) is pleased to announce a new investment in Summit Sports. Based in Bloomfield Hills, MI, Summit Sports is a leading multi-channel action sports company and operator of the websites www.skis.com, www.snowboards.com, www.inlineskates.com, www.wateroutfitters.com, and www.campgear.com. PSCP co-invested in this transaction with Bay Capital Investment Partners, Eagle Private Capital, and Digital Fuel Capital. The investor group is partnering with the company founder to support Summit’s acquisitions of other e-commerce leaders in specialty sporting goods, as well as continue Summit’s organic growth and strong performance in the action sports industry.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners II, LP (PSCP) is pleased to announce a new investment in Thermacore, Inc. In November, PSCP invested mezzanine debt and equity to refinance existing debt and provide capital for growth. Thermacore, located in Lancaster, PA, designs and manufactures highly engineered thermal management and material solutions. PSCP co-invested in this transaction with Bay Capital Investment Partners.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners II, LP (PSCP) is pleased to announce a new investment in Rite Air Mechanical Services, a commercial HVAC & refrigeration maintenance and services company based in Bellmawr, NJ. PSCP co-invested in this transaction with Bay Capital Investment Partners and Roundwood Capital. The investor group is partnering with company founders Brian and Jeff Pomarici and providing growth capital to build on the Pomarici's successful track record of serving multi-unit operators in the mid-Atlantic region.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners II, LP (PSCP) announces recent investments:

• In July, PSCP invested mezzanine debt and equity in connection with the acquisition of Tristan Medical in a transaction led by MedEquity Capital. Tristan is an operator of primary care, occupational medicine and urgent care centers in Southeastern Massachusetts.
• In July, PSCP invested mezzanine debt into Carthage Specialty Paperboard, Inc. in connection with the recapitalization of the company by DeltaPoint Capital. Carthage Specialty Paperboard, located in Carthage, NY, is a manufacturer of uncoated recycled paperboard used in premium specialty applications. PSCP co-invested in this transaction with Patriot Capital.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.

October 2021

Pine Street Capital Partners III, LP is pleased to announce the following new investments: 

• 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. 

In addition, Pine Street Capital II has successfully exited the following investments: 

• 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. 

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria.  We are committed to responding quickly to opportunities in a thoughtful and transparent manner. 

July 2021

Pine Street Capital Partners III, LP is pleased to announce the following investments: 

• A mezzanine debt and equity investment in First Impression Ironworks, Inc. (“FII”), a leading designer, manufacturer and installer of premium iron products for U.S. homes. FII is based in Gilbert, AZ. 
• A follow-on equity investment in current portfolio company Ardurra Group, Inc. (“Ardurra”) to support the acquisition of Infrastructure Engineering Corporation, based in San Diego, CA.  Ardurra is a civil and environmental engineering services company that serves both private and public sectors. 
• A follow-on equity investment in current portfolio company National EC Services, Inc. (“NECS”) to support the acquisition of GeoInsight, Inc., based in Manchester, NH.  NECS is a premier environmental and engineering consulting firm specializing in the environmental, energy and infrastructure markets in the Midwest and Mid-Atlantic regions. 

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria.  We are committed to responding quickly to opportunities in a thoughtful and transparent manner. 

April 2021

Pine Street Capital Partners III, LP is pleased to announce a new investment as well as a successful exit in the first quarter of 2021:

• A mezzanine debt and equity investment in Taylor Stitch, a men’s casual apparel brand selling primarily via its branded website. Taylor Stitch is headquartered in San Francisco, CA.
• A successful exit from Anser Advisory, LLC, a national firm specializing in capital program advisory and consulting services, which include strategy, funding, process development, organization preparedness, as well as project, program and agency construction management and controls. Anser serves public and private customers in various end markets. 

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria.  We are committed to responding quickly to opportunities in a thoughtful and transparent manner. 

January 2021

Pine Street Capital Partners (Pine Street) is pleased to have remained active in the private markets as investment activity recovered during a difficult year.  The following is our investment activity for the fourth quarter:

Pine Street Capital Partners II, LP had a successful exit from its investment in Wood Pro, a value-added distributor of flooring products to the professional market.

Pine Street Capital Partners III, LP made the following new investments:

•  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.

 We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria.  We are committed to responding quickly to opportunities in a thoughtful and transparent manner. 

Pine Street Capital Partners III, LP (“PSCP”) is pleased to announce the following investments:

• A mezzanine debt and equity investment in Hull & Associates, LLC (“Hull”). Hull is a Dublin, OH based premier environmental and engineering consulting firm specializing in the Environment, Energy, and Infrastructure markets in the Midwest and Mid-Atlantic regions. PSCP partnered with a New York, NY based private equity firm.
• A follow-on equity investment in current portfolio company Anser Advisory (“Anser”) to support the recent acquisition of H.R. Gray & Associates, Inc., based in Columbus, OH. Anser Advisory is a national firm specializing in capital program funding, program management, project management, construction management, and executive advisory services.

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. Our latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. We have a broad investment mandate, with a preference for niche manufacturers, business services, health care, and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

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.

We have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. Our latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. We have a broad investment mandate, with a preference for niche manufacturers, business services, health care, and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners III, LP (“PSCP”) is pleased to announce the following recent 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 is based in Painted Post, NY and 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 follow-on equity investment in current portfolio company Anser Advisory (“Anser”) to support the recent acquisitions of Cambridge Construction Management, Inc., based in Clinton, NJ, and DHS Consulting, Inc., based in Santa Ana, CA. Anser Advisory is a national firm specializing in capital program funding, program management, project management, construction management, and executive advisory services.

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. Our latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. We have a broad investment mandate, with a preference for niche manufacturers, business services, health care, and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners III, LP (“PSCP”) is pleased to announce an active and successful 2018. Highlights include the closing of the following investments:

• A mezzanine debt investment in NEMO Equipment (“NEMO”). Based in Dover, NH, NEMO is an innovative designer and manufacturer of premium outdoor gear, including tents, sleeping bags, sleeping pads, hammocks, and furniture. PSCP is partnering with management to support NEMO’s growth plans and continued success.
• A mezzanine debt and equity investment to support the acquisition of four leading program management firms collectively operating as Anser Advisory (“Anser”), a national firm specializing in capital program funding, program management, project management, construction management, and executive advisory services to the public and private sectors. PSCP supported a NYC-based private equity firm on this transaction.
• A mezzanine debt and equity investment to support the acquisition of Boutique Brands (“BB”). BB is a collection of online boutique retailers of quick-turning value-priced women’s apparel, currently comprised of Discount Divas, located in Huntsville, AL, and Lime Lush, based in Salt Lake City, UT. PSCP supported a Boston-based private equity firm on this transaction.
• A mezzanine debt and equity investment to support the acquisition of Filterworks USA, Inc. (“Filterworks”). Filterworks, based in Deerfield Beach, FL, is a leading layout and design, capital equipment, and service provider to the automotive collision repair industry. PSCP supported a Georgia-based private equity firm on this transaction.

We currently have a strong pipeline of opportunities and are actively seeking new investments that meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. Our latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. We have a broad investment mandate, with a preference for niche manufacturers, business services, health care, and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners III, LP (PSCP III) is pleased to announce a new investment in NEMO Equipment. Based in Dover, New Hampshire, NEMO is an innovative designer and manufacturer of premium outdoor gear, including tents, sleeping bags, sleeping pads, hammocks, and furniture. PSCP III is partnering with management to support NEMO's growth plans and continued success.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners ("PSCP") is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

We are proud to announce the addition of Jack Walsh to our team. Jack recently joined Pine Street as a Senior Associate in our Wellesley, MA office.

Previously, Jack was an Associate at Citizens Bank in Boston, MA. At Citizens, he was part of the leveraged finance and capital markets team responsible for evaluating and underwriting leveraged finance investment opportunities for middle market and mid-corporate companies across a variety of industries and transactions types. Jack also spent time in Citizens' restructuring and workout group. He is a graduate of Skidmore College (BS), where he was captain of the varsity hockey team.

At Pine Street, Jack will be involved with investment evaluation and execution, portfolio management, and deal flow generation.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners is pleased to announce the following recent investments:

• A mezzanine debt and equity investment to support the recapitalization and debt refinancing of Merrill Industries. Based in Ellington, CT, Merrill is a packaging company, providing primarily corrugated packaging to industrial customers located mostly in Southern New England. We are co-investors in the transaction with Advantage Capital Connecticut.
• A mezzanine debt and equity investment to support the acquisition of Artifact Uprising by Digital Fuel Capital. Based in Denver, CO, Artifact Uprising is an ecommerce provider of premium photo products (e.g., photo books, prints, framed wall photos, photo cards, and gifts). PSCP co-invested in this transaction with Bay Capital and Eagle Private Capital.

We also are excited to announce the addition of Callie Carpenter to our team. Callie joined as Controller after spending several years at Leverpoint Management, a third party fund administrator. Callie is located in our Albany, NY office.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners III, LP (PSCP III) is pleased to announce a new investment in King Engineering Associates, Inc. ("King"). Based in Tampa, FL, King is a civil and environmental engineering services company serving both the public and private sectors. PSCP co-invested in this transaction with Kain Capital and Harvest Capital Credit. The investor group is partnering with management to support King's growth.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Management is pleased to announce its first investment out of Pine Street Capital Partners III, LP (PSCP III), which was launched in Q4 2016. Nelson Worldwide ("NELSON"), based in Philadelphia, PA, is a leading integrated design and consulting organization with a diverse product offering catering to a wide range of end markets. NELSON offers global design, architecture, engineering, branding, space planning and space management services primarily in the commercial real estate sector. PSCP co-invested in this transaction with NewSpring Mezzanine Capital, Salem Investment Partners, and a subsidiary of Kemper Corporation (NYSE: KMPR). The investor group is partnering with management to support Nelson's growth.

Additionally, a second closing was held on PSCP III in March. PSCP III is now at its initial targeted capital amount. A final closing is expected later this year.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners ("PSCP") is pleased to announce an active and successful 2016. Highlights include:

• Held a first closing on Pine Street Capital Partners III, LP in conjunction with the receipt of our second Small Business Investment Company (SBIC) license from the US Small Business Administration in September.
• Successfully exited four investments from PSCP II, as highlighted below:
• In December, PSCP exited from its investment in Scotia Technology, a Laconia, NH, based niche supplier of tube assembly components for the aircraft and aerospace industries.
• In December, PSCP exited from its investment in Merrill Industries, a packaging company providing corrugated packaging solutions to industrial customers located primarily in Southern New England. Merrill is located in Ellington, CT.
• In October, PSCP exited from its investment in Thermacore, a designer and manufacturer of highly engineered thermal management and material solutions. Thermacore is based in Lancaster, PA.
• In June, PSCP exited from its investment in GenServe, a supplier and servicer of backup power solutions based in Plainview, NY.

We have a strong pipeline of opportunities heading into 2017 and are actively seeking new investments for PSCP III which meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners (“PSCP”) is pleased to announce it has successfully exited from two investments out of PSCP II:

• In June, PSCP exited from its investment in GenServe, a supplier and servicer of backup power solutions based in Plainview, NY.
• In October, PSCP exited from its investment in Thermacore, a designer and manufacturer of highly engineered thermal management and material solutions. Thermacore is based in Lancaster, PA.

We are actively seeking new investments for PSCP III which meet our criteria and are committed to responding quickly to opportunities in a thoughtful and transparent manner.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners ("PSCP") is pleased to announce that it has received approval from the U.S. Small Business Administration ("SBA") for its second Small Business Investment Company ("SBIC") license and has held a first closing of Pine Street Capital Partners III, LP ("PSCP III").

Consistent with the investment strategy of its predecessor funds, PSCP III will provide subordinated debt and minority equity capital to high quality middle market companies based in the United States. PSCP III will invest $3-10 million per transaction to support corporate growth initiatives, acquisitions, recapitalizations and change of control situations.

Since 2005, PSCP has invested approximately $100 million in over 30 businesses to help middle market company owners and management meet their personal and corporate objectives. Fund principals greatly appreciate the support of the SBA and our private investor base to allow us to continue our successful investment strategy.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners (PSCP) is pleased to announce the following recent investments:

• A mezzanine debt and preferred equity investment to support the acquisition of Power Technology Southeast, Inc. (Power Tech) by Fulham & Company. Based in Leesburg, FL, Power Tech is a manufacturer of customized generator sets used in mobile environments. End markets include mobile communications, service trucks, emergency vehicles, and military vehicles, among others. PSCP co-invested in this transaction with Spring Capital Partners III, LP.
• A mezzanine debt and equity investment to support the acquisition of Artful Home by Digital Fuel Partners. Based in Madison, WI, Artful Home offers a selected assortment of artist-made home apparel, décor, and art. The company provides artists with a national marketing platform and consumers a curated selection of unique products. PSCP co-invested in this transaction with Digital Fuel Partners and Eagle Private Capital.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners II, LP (PSCP) is pleased to announce a new investment in Summit Sports. Based in Bloomfield Hills, MI, Summit Sports is a leading multi-channel action sports company and operator of the websites www.skis.com, www.snowboards.com, www.inlineskates.com, www.wateroutfitters.com, and www.campgear.com. PSCP co-invested in this transaction with Bay Capital Investment Partners, Eagle Private Capital, and Digital Fuel Capital. The investor group is partnering with the company founder to support Summit’s acquisitions of other e-commerce leaders in specialty sporting goods, as well as continue Summit’s organic growth and strong performance in the action sports industry.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners II, LP (PSCP) is pleased to announce a new investment in Thermacore, Inc. In November, PSCP invested mezzanine debt and equity to refinance existing debt and provide capital for growth. Thermacore, located in Lancaster, PA, designs and manufactures highly engineered thermal management and material solutions. PSCP co-invested in this transaction with Bay Capital Investment Partners.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners II, LP (PSCP) is pleased to announce a new investment in Rite Air Mechanical Services, a commercial HVAC & refrigeration maintenance and services company based in Bellmawr, NJ. PSCP co-invested in this transaction with Bay Capital Investment Partners and Roundwood Capital. The investor group is partnering with company founders Brian and Jeff Pomarici and providing growth capital to build on the Pomarici's successful track record of serving multi-unit operators in the mid-Atlantic region.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.

Pine Street Capital Partners II, LP (PSCP) announces recent investments:

• In July, PSCP invested mezzanine debt and equity in connection with the acquisition of Tristan Medical in a transaction led by MedEquity Capital. Tristan is an operator of primary care, occupational medicine and urgent care centers in Southeastern Massachusetts.
• In July, PSCP invested mezzanine debt into Carthage Specialty Paperboard, Inc. in connection with the recapitalization of the company by DeltaPoint Capital. Carthage Specialty Paperboard, located in Carthage, NY, is a manufacturer of uncoated recycled paperboard used in premium specialty applications. PSCP co-invested in this transaction with Patriot Capital.

We are actively seeking new investments which meet our criteria, and we are committed to responding quickly to opportunities in a thoughtful and transparent manner. We look forward to working with you.

About Pine Street Capital Partners

Pine Street Capital Partners is a multi-fund management company formed in 2004. PSCP's latest fund, Pine Street Capital Partners II, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $2-6 million per transaction either as sole investor or as part of a larger investor group.