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We combine hands-on managementwith the resources and expertiseof world-class operators and investorsto make good companies better.

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We founded Alpine Growth Partners on the belief that partnershipis a path to growth. By combining our operating and investingexperience in small- to medium-sized companies with an investorteam of highly successful owner-operators, we can help raiseyour business to new heights.

We do this by taking on active, day-to-day roles and adding tomanagement bench strength in one business at a time. While wecan represent a succession solution to owner-operators, we seekto collaborate with existing management to unite a company

behind a vision and strategy for long-term growth. In doing so,we pay great attention to understanding a business, its peopleand their interests.

Alpine Growth Partners’ approach rests upon the diligentapplication of hard work, robust analysis and common sense. Wehave a fundamental respect for what entrepreneurs have builtand nurtured, and look to add to this solid platform with nancialand management resources, governance best practices, as wellas the wisdom and experience of our investors who have builttheir own successful businesses across many industries.

We invite you to reach out and chat with us. As we value honestyand integrity, we’ll provide our best advice on the path to take,even if we don’t happen to be the right partner for you.

Sincerely,

Daniel Forest Toby Chang

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What Sets Us ApartPartnering to drive growth and bring businesses to the next level

Because we invest personally, join the management team, and have a long-term time horizon,we are fully aligned with owners and management teams.

Private Equity Trade Buyers

Buyer’s Focus &Objective

Growth and sustainability High transaction volumeand quick exits

Driven by corporateparent’s needs

Investment Horizon Long term with no pre-determined period

Typically 3-5 years Subject to corporatestrategy

Commitment to YourCompany

Exclusive with full-timemanagement and dedicatedboard of directors

Split between portfoliocompanies; generallyboard involvement only

Shared across divisions;risk of cost cutting andintegration

Deal Terms Flexible to meet seller needs Driven by leverage andfund structure

Bound by corporateconstraints

Source of Capital Partnership of successfulentrepreneurs and operatorswith strong capital base

Pension funds,insurance companiesand other institutions

Diverse base of publicand/or private investors

Value CreationStrategy

Grow revenues, operationalimprovements, managementbest practices

Largely nancialengineering

Synergies and cost-cutting

Owner’s Future Role Flexible: full exit, consultingrole, equity partner

Varies from intense commitment under salary toforced departure

Employees Critical to the business andfor future growth plans

Simply viewed as a cost to be managed

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We seek to make controlling investments in small-to medium-sized businesses that have potential forlong-term growth.

Company Characteristics

• Privately-held and based in Canada or the U.S.

• Sustainable competitive advantage

• Strong growth prospects

• Diverse and loyal customer base

Industry Characteristics

• Large and growing

• Limited business cyclicality

• Barriers to entry

• Fragmented competitive landscape

• Low regulatory and technological risk

Financial• Stable, recurring revenue of $5 million to $50 million

• Sustainable EBITDA of at least $1 million with

margins exceeding 10%

• Low capital intensity

Management and Ownership Situation

• Owner seeking to exit or reduce daily activities

• Owner looking for capital and managementpartners to help drive future growth

• Divestiture from larger business

We do not invest in companies in serious nancialdistress, start-ups, R&D-intensive or venture-stagecompanies.

What We Look For

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We have assembled a team of over a dozenindividual investors, each a successfulbusiness owner and entrepreneur in theirown right.

 These operators provide not only capital,but also valuable expertise and advice.

 Together, we share a common passion forgrowing small- to medium-sized companiesin North America and beyond.

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Partners

Prior to co-founding AlpineGrowth Partners, Toby was aDirector at Decision ResourcesGroup, a leading healthinformation business ownedby Providence Equity. As asenior leader of the medicaltechnologies subsidiary, Tobyled teams of over 100 sta,and guided the restructuringof global research operations.

Toby also lived in Asia to workwith his family business, aglobal luxury menswear tailorand retailer.

Prior to co-founding Alpine

Growth Partners, Daniel wasa Director at BMO CapitalPartners, a leading mid-market junior capital rm, wherehe transacted in small andmiddle-market companiesacross North America. Whileat BMO, he invested $80Min 13 transactions includingbuyouts, tuck-in acquisitionsand growth equity in a varietyof industries consistent withAlpine Growth Partners’ target

sectors.

Prior to BMO, Daniel earned his Chartered Accountant designationwhile working with KPMG and PwC in both Toronto and Montreal.

Daniel holds an MBA from INSEAD, a B.Com (Major in Finance)from McGill University, and is a Chartered Accountant (CPA, CA).

A Montreal native, Daniel is an avid skier and an ambitious golfer.

Daniel Forest, CPA, CA

 Toby Chang

Toby holds an MBA with Distinction from INSEAD and a B.A.Sc.(Mechanical Engineering) from University of Waterloo.

A Toronto native, Toby is an avid skier and hockey player, and sitson the board of an arts non-prot organization.

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Daniel Forest(514) 915-6775daniel@alpinegp.ca

Toby Chang (647) 871-9444toby@alpinegp.ca

www.alpinegp.ca123 Edward Street, Suite 1112Toronto, Ontario M5G 1E2