Investments All Current Exited Industrials Business Services Consumer Supply Chain/Logistics Aerospace & Defense Website concurrentmfg.com Headquarters Hialeah, FL Leadership Ben Teno, CEO Date of Investment October 2012 Status Exited (December 2017) Structure Control, with significant management ownership Company Profile Concurrent is a vertically integrated contract electronic manufacturer, providing a range of manufacturing and assembly services. Concurrent operates facilities in the U.S. and Mexico and serves a diverse range of customers within the telecommunications, industrial, energy, defense and aerospace markets. Industry Contract Electonics Manufacturing Transaction Type Asset purchase from a bank via UCC Article IX purchase Balmoral Opportunity With affiliates in the UK, US and Mexico suffering from various levels of distress, Simclar, Inc. found a buyer for its assets in Concurrent. With a reinvented and invested management team and reinvigorated manufacturing capabilities benefiting from Balmoral’s equity infusions into the business, Concurrent is addressing the needs of and expanding the highly-regarded customer base. Website epsilyte.com Headquarters Woodlands, TX Leadership Brad Crocker Date of Investment October 2020 Status Active Structure Equity Company Profile Leading producer of expandable polystyrene resins in North America. Based in Peru, IL. Industry Advanced Materials Transaction Type Corporate Divestiture Balmoral Opportunity Partnered with management and industry executives to acquire from a corporate parent Headquarters Navasota, TX Date of Investment January 2007 Status Exited (September 2008) Company Profile Interstate Southwest is a leading provider of closed die steel forgings, specializing in large components (10 to 2,500 pounds) with complex geometries. ISW provides customers a full range of services including tool design and manufacturing, engineering, prototyping, forging, heat treating and machining. Industry Steel forging / Heavy industrial Transaction Type Corporate divestiture Balmoral Opportunity ISW was an opportunity for Balmoral to acquire an unprofitable business unit from a large auto-part casting company which was in bankruptcy. Despite ISW’s unprofitability, Balmoral and key managers saw the chance to shed unprofitable business, add customers and increase the sale of higher margin products. The turnaround also included a preventative maintenance program and upgrading the physical appearance of the plant. Balmoral partnered with the key managers to acquire and complete a successful turnaround of the company. Website polysource.com Headquarters Piqua, OH Leadership Brad Crocker Date of Investment May 2021 Status Active Structure Equity Company Profile Leading producer of compounded expandable polystrene and molded products used in building insulation, personal safety equipment, and filtration media. Industry Advanced Materials Transaction Type Buyout, Growth Investment Balmoral Opportunity Complementary acquisition for Epsilyte Website https://www.rescoproducts.com/ Headquarters Pittsburgh, PA Date of Investment March 2022 Status Active Structure Equity Company Profile Resco Products, Inc is a refractory manufacturer that services many diverse end markets, including steel and cement production, and petrochemical processing. Resco has been in the refractory industry for over 75 years and operates 11 facilities across North America and the United Kingdom. Resco’s footprint provides a unique ability to service customers quickly and efficiently. Resco is a product leader within the refractory industry, creating enhanced products that reduce customers downtime and increase productivity. Industry Engineered Materials Transaction Type Buyout Balmoral Opportunity Partnered with industry executives to refresh the business and reinvest in growth after years of inactive ownership. Website styrochem.com Headquarters Baie-d’Urfe, Quebec Leadership Brad Crocker Date of Investment October 2021 Status Active Structure Equity Company Profile Leading provider of expandable polystyrene (EPS) located in Baie d’Urfe, Quebec. Industry Advanced Materials Transaction Type Buyout, Growth Investment Balmoral Opportunity Complementary acquisition for Epsilyte Headquarters Daytona Beach, FL Date of Investment March 2006 Status Exited (July 2011) Structure Shared-control with another sponsor and with significant management ownership Company Profile Tara Technologies is a designer, tester and manufacturer of precision components and systems used in critical applications for leading global manufacturers in semiconductor, aerospace, military, energy and medical markets for 50+ years. Tara was a sole-supplier of critical parts to many of its customers, including Applied Materials. Industry Precision components and systems Transaction Type Corporate divestiture Balmoral Opportunity Tara was the last business unit of an orphaned division that had otherwise been sold off in pieces. Balmoral saw an opportunity to support the management team of Tara and implement a turnaround plan which consisted of branding itself, opening up an office in Singapore and diversifying revenue into other markets, including oil & gas, industrial and aerospace. Website vestamodular.com Headquarters Southfield, MI Leadership Dan McMurtrie Date of Investment November 2018 Status Exited Structure Equity Company Profile Leader in modular building sales and leasing – offering turnkey permanent and temporary modular construction solutions for sale or lease across North America. Developed by industry veterans, VESTA brings a professional approach and unique perspective to its projects utilizing a greener, faster, and smarter way of building. THINKING BEYOND THE BOX is the company motto, emphasizing that the modular box is just a part of the overall project success. The company provides modular solutions, for sale or lease, to the educational, hospitality, multi-family, assisted living, institutional, Government, healthcare, workforce housing, office, disaster recovery and storage industries with an emphasis on quality, comfort, and safety. Industry Modular Facility Construction and Rental Transaction Type Buyout, Growth Investment Balmoral Opportunity Partner with experienced operators, Dan McMurtrie and Billy Hall, with a successful track record in modular construction. Website https://www.trecora.com/ Headquarters Sugar Land, TX Leadership Brad Crocker Date of Investment June 2022 Status Active Structure Equity Company Profile Provider of specialty hydrocarbons (pentanes and hexanes) and waxes out of 2 facilities near Houston, TX. Trecora Resources serves the building products, packaging, transportation, consumer and life sciences end-markets. Industry Chemicals Transaction Type Take-private Balmoral Opportunity Partnered with management and industry executives to take a microcap public company private.