Mar 9, 2022

Battery Solutions Has Completed a Majority Recapitlizations with Alston Capital Partners HOUSTON, January 17, 2013 - GulfStar Group ("GulfStar") is pleased to announce the majority recapitalization of Battery Solutions Inc. (“BSI” or the “Company”) to Alston Capital Partners (“Alston”). GulfStar served as exclusive financial advisor to BSI throughout the transaction, which closed on December 20, 2012. BSI is one of the largest independent providers of turnkey battery recycling solutions including program design, collection systems, logistics, disassembly, chemistry identification, sorting, separation, regulatory compliance and documentation. The Company is headquartered in Howell, Michigan with additional facilities in Brighton, Michigan and Mesa, Arizona. "We are excited about joining Alston Capital Partners," said Chris Sova, former CEO of Battery Solutions. "The strategic alliance between the two organizations is very promising and the entire Battery Solutions team is looking forward to the future growth of the business. GulfStar Group was outstanding during the endeavor and we are grateful for their passion, dedication, and guidance throughout the entire recapitalization process," Sova added. "They provided a tremendous amount of support and their team managed the negotiations with a high level of professionalism, which resulted in a highly successful transaction." The GulfStar team included Managing Director Kent Kahle, Senior Vice President John O’Brien, Associate Chase Stanzel and Analyst Nico Gayle. "We were pleased to achieve the objectives of the Sova family in the recapitalization of Battery Solutions,” said Kahle. “We believe that the partnership with Alston Partners will further enhance the Company's future in the embryonic non-auto battery recycling market." About GulfStar Group GulfStar is a leading middle market investment and merchant bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed over 575 transactions in more than 30 states and seven foreign countries across a variety of industries. Through its merchant banking affiliate, the firm also makes equity and subordinated debt co-investments. About Alston Capital Partners Alston Capital Partners is a private equity firm focused on the environmental and specialty manufacturing sectors in the lower middle market. The team is composed of experienced operators and investors who have worked together for many years, principally at JPMorgan Partners. The firm's principals have invested in over 65 businesses and have a demonstrated track record of working with owners and managers to take companies with unrealized potential to new levels of performance and value. For additional information please contact kkahle@gulfstargroup.com or 713.300.2025. Securities offered through GulfStar Group I, Ltd. an affiliated entity, member FINRA – SIPC .