Press release

SFW Capital Partners Adds Terry Kelly as Operating Partner

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SFW Capital Partners (“SFW”), a specialized private equity firm, today
announced that Terry Kelly, the former President of TA Instruments, has
joined the firm as an Operating Partner. Mr. Kelly will support SFW’s
strategy to build leading Industrial and Healthcare Technology companies
with a particular emphasis on providers of instrumentation, life
sciences tools, sensors and measurement devices, laboratory equipment
and consumables. SFW’s principals have supported the growth and
development of some of the most well-regarded companies in the sector,
including Essen Bioscience, Filtec, Spectro Scientific, Metter Toledo
and Waters Corporation. SFW is investing out of Fund II with
approximately $350 million of equity commitments and is actively seeking
platform investments in profitable companies with $20 million to $250
million in revenue.

“We are excited to partner with Terry,” said Ahmad Sheikh, a Partner at
SFW. “He has an exceptional track record in the sector, including his
leadership of TA Instruments, where he transformed the business through
growth-oriented investments and acquisitions that enabled the business
to triple in revenue. We have worked with and known Terry over the last
15 years and have admired his leadership style, strategic vision and
approach to business building, making him an ideal partner for us.”

Mr. Kelly has 30 years of experience in the analytical space and spent
the last 14 years as President of TA Instruments, a subsidiary of Waters
Corporation (NYSE: WAT). TA Instruments is the leading manufacturer of
analytical instruments for thermal analysis, rheology, and
microcalorimetry. Under Terry’s leadership, TA Instruments grew from
$100 million to $280 million in revenue while significantly enhancing
its strategic value. During this time, TA Instruments completed 13
strategic acquisitions in the US and Europe which enhanced the company’s
product portfolio and helped it expand into new and adjacent end-markets
and applications.

“I am excited to team up with SFW in the pursuit and support of new
investments,” said Mr. Kelly. “Their patient approach to business
building, deep sector-focused resources, and long history of success
make them ideal partners for founders, owners and management teams of
businesses in our sector.”

About SFW Capital Partners, LP

SFW Capital Partners is a specialized private equity firm that invests
in leading Information, Software, Industrial and Healthcare Technology
companies. Our principals’ 25+ years of investing in and experience with
relevant business models, technologies, competitive dynamics and service
requirements gives us confidence in our ability to support management
teams in growing their companies and building value. SFW invests in
companies that provide critical tools to help other businesses make
better decisions and/or become more efficient. These companies, which
include providers of hardware, software, data and information, critical
outsourced services, and consumables, provide a high return on
investment to their customers and can serve a wide variety of
end-markets. For more information, visit