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ONWARD CAPITAL ACQUIRES CENTURY DRILL & TOOL CORPORATION

CHICAGO (December 31, 2021) – Onward Capital, a private equity firm based in Chicago, announced today that it has acquired Century Drill & Tool Corp., headquartered in Green Bay, Wisconsin (www.centurydrill.com). Terms of the transaction were not disclosed.

Century Drill & Tool is a leading distributor of professional quality power tool accessories and hand tools for contractors, professionals working in the trades, commercial automotive shops and do-it-yourselfers. The Company has been successfully serving customers since its beginnings in 1940 and has built a reputation for unmatched customer service and product breadth and quality.

Marcus George, Partner of Onward Capital, said, “Century Drill has a unique position in the power tool accessories market with an outstanding reputation for innovative solutions, manufacturing excellence and customer service.” Laura Lester, Onward Capital Partner, added, “We look forward to working with the management team to develop new products, enter new markets and build upon the Company’s success.”

Kurk Tachick, President of Century Drill & Tool, commented, “We are thrilled to be partnering with Onward Capital. Onward Capital will provide us with strategic and financial resources to achieve our shared passion for growth.”

The recapitalization was funded by Wintrust Financial Corporation, Midwest Mezzanine Funds and Centerfield Capital Partners. Katten Muchin Rosenman LLP served as legal counsel to Onward Capital and its investor group.

About Century Drill & Tool Corporation

Since 1940, Century Drill & Tool (centurydrill.com) headquartered in Green Bay, Wisconsin, has offered professional quality Power Tool Accessories and Hand Tools for contractors, professionals working in the trades, commercial automotive shops, and do-it-yourselfers. We offer the largest selection of power tool accessories, abrasives, hand tools, and threading tools; with forty percent of our products still made in the USA. Since our focus is strictly on accessories, and not power tools, we ensure consistent, higher quality product than other major brands. Today you can find Century products in over 15,000 retail locations nationwide and on major online retail platforms.

About Onward Capital LLC

Onward Capital is a Chicago-based private equity firm focused on investing in and growing lower middle- market industrial businesses. The Onward Partners have completed 59 private equity transactions and invested $610 million dollars of capital in the sector. Onward targets manufacturing and value-added distribution companies, typically with revenues between $15 million and $100 million and invests in partnership with family offices, mezzanine funds, equity funds, industry executives and high net worth individuals. For more information on Onward Capital, please visit www.onwardcapllc.com.

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Marcus George

Partner

Marcus founded Onward Capital in 2015. He is responsible for developing investment theses, executing transactions and leading value creation within the portfolio. He is a member of the board of directors of each of Onward’s portfolio companies.

Prior to Onward Capital, Marcus was a Partner at Code Hennessy and Simmons.  He spent 18 years there, reviewed hundreds of investment opportunities and executed dozens of transactions across a variety of industries.

Prior to CHS, Marcus worked in the Corporate Finance Group of Heller Financial and he started his career at KPMG.

Marcus earned a BA in Accounting from the University of Notre Dame and an MBA from the University of Chicago, Booth School of Business. He lives in Park Ridge, Illinois with his wife and their two children.

Laura Lester

Partner

Laura founded Onward Capital in 2015. She is responsible for developing investment theses, executing transactions and leading value creation within the portfolio. She is a member of the board of directors of each of Onward’s portfolio companies.

Prior to Onward Capital, Laura spent over ten years at Code Hennessy and Simmons where she reviewed hundreds of investment opportunities and executed dozens of transactions across a variety of industries.

Early in her career, Laura worked in the Investment Banking Division of Lehman Brothers where she advised industrial companies and their boards on strategic alternatives.

Laura earned a BA in Economics from Cornell University and an MBA from Northwestern University’s Kellogg School of Management. She lives in the suburbs of Chicago with her husband and their three children.

Jack Tresley

Vice President

Jack joined Onward Capital in 2024.

Prior to Onward Capital, Jack was an Associate on the investing team at Granite Creek Capital Partners, a Chicago-based private equity firm, where he evaluated, structured, executed, and managed both debt and equity investments across a wide range of lower middle market companies.

Prior to Granite Creek, Jack was an investment banking analyst at Metronome Partners, a Chicago-based investment bank, where he worked on a variety of sell-side transactions primarily for lower middle market companies.

Jack earned a BS in Finance from Indiana University, Bloomington – Kelley School of Business and an MBA from Northwestern University’s Kellogg School of Management. He lives in the suburbs of Chicago with his wife.