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LEADING US HIGH-PERFORMANCE HEATING EQUIPMENT MANUFACTURER #67965 BUSINESS HIGHLIGHTS The Company, founded in 1979, specializes in manufacturing high-performance, industrial-grade hea ng equipment, including boilers, heat exchangers, and custom steel tanks. Notably, it pioneered the 5-pass, bent-tube boiler, renowned for efficiency and engineering precision. The Company's product line spans high and low-pressure steam and hot water boilers, as well as industrial-grade custom tanks and standalone boiler rooms. Opera ng from a 70,000-square-foot facility in New York, it distributes products across the U.S. and Canada, leveraging its strategic geographic loca on for efficient delivery. The Company's customer base includes over 175 accounts, with a 43% concentra on in industrial and commercial manufacturing, and significant representa on in educa on, government, and hospitality sectors. Their innova on, like the patented high-efficiency boiler, and a dedicated, low-turnover workforce are key strengths. Addi onally, the Company's sales strategy relies on a network of 42 regional representa ves and consulta ve sales, reinforcing long-term client rela onships and high repeat business. Known for robust engineering and durable, reliable products, the Company dis nguishes itself through patented technology, comprehensive service offerings, and a strong reputa on for customer service, placing it as a trusted partner in the commercial and industrial hea ng sector. Ahmad Behja Managing Director - M&A E: abehja @genera onal.com D. 203-716-1185 M. 203-945-8919 INVESTMENT BANK OF THE YEAR 2016 - 2017 - 2018 - 2022 DISCLAIMER: All informa on contained in this document has been provided by the subject company to Genera onal Equity and while believed to be correct has not been verified. Accordingly, Genera onal Equity makes no representa ons or warran es as to the accuracy and truthfulness of such informa on. The recipient hereof acknowledges that Genera onal Equity shall not be liable for any loss or injury suffered by said recipient in any way connected to the delivery by Genera- onal Equity of this document. At all mes Genera onal Equity and/or its affiliate network members are agents for the seller and not for the buyer. Genera onal Equity's fees are paid by the seller. REVENUE / EBITDA 2024 REVENUE INVESTMENT APPEAL a. Patented Products: The Company has invested heavily in maintaining its leading posi on in the industry ensuring a con nued advantage in the marketplace. b. Diversified Customer Base: The Company has developed an excellent reputa on for supplying high quality and high value boilers and accessory parts. Over the historical period, the Company experienced no significant customer concentra on. A diversified customer base helps ensure that the Company will not be significantly impacted by the loss of a single account. c. Customer Reputa on: The Company strives to have a much larger selec on than its compe tors and the majority of its business is generated from repeat business as clients return to a known, high- performing suite of products from a Company that deliver me and me again without issue. Approximately 80% of revenue annually is a result of returning customers. Genera onal Equity 125 Park Avenue, 25th FL New York, NY 10017 T. 212-401-7961 $2.2M $2.5M $13.1M $14.5M 2025(P) REVENUE 2025(P) EBITDA 2024 EBITDA SIGN NDA ► TOP 5 ACCOUNTS Customer 1 8% Customer 2 7% Customer 3 6% Customer 4 6% Customer 5 5% FINANCIAL PERFORMANCE ($M) ACCOUNTS Ac ve 116+ Repeat Business 80% REVENUE MIX REVENUE BY REGION United States 93% Canada 3% CUSTOMER MIX STAFF OVERVIEW Owner 1 Sales 4 Engineering 4 Finance & Admin 2 Produc on Leaders 2 Code Welders 7 CNC Operators 4 Sheet Metal 4 Assembly 9 Tube Cu er 2 Other 5