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CRESTMARK

Operational alpha is the only alpha that survives a rate cycle.

Crestmark Capital Partners — Fund IV LP Update
January 2025

3.1x

Net MOIC across 14 realized Fund II and Fund III investments

Vintage-adjusted upper-quartile performance per Cambridge Associates 2024 LMM benchmark

How we find deals no one else is bidding on

Proprietary Referral Network

340 operating executives

Sector Signal Mapping

6 vertical-focus analysts

Direct Outreach

1,200 CEO touches/year

Qualified Pipeline

38 LOIs in 2024

Closed

4 platform acquisitions

Proprietary sourcing: 78% of Fund III deals, never went to auction

II

The 100-Day Value Acceleration Plan

Six levers, one system

Commercial Intensity

Install CRM + quota cadence

Target: +12% pipeline velocity

Pricing Power

SKU rationalization + floor pricing

Target: +200 bps margin

Ops Efficiency

Plant OEE audit + quick-win capex

Target: +8% throughput

Finance Infrastructure

FP&A hire + 13-week cash

Target: Real-time visibility

Leadership Bench

COO assessment + succession

Target: 2-deep org chart

M&A Readiness

Integration playbook pre-close

Target: Day-1 synergy capture

Case study:
Ridgeline Fluid Systems

2.8x in 41 months

Entry EBITDA

$4.2M

Exit EBITDA

$11.7M

Revenue CAGR

19%

Net Debt/EBITDA

2.1x

EBITDA Bridge

$4.2M Entry Organic Pricing Bolt-on $11.7M Exit

Fund III realized portfolio — full track record

Company Sector Entry Year Hold (months) Gross MOIC Net IRR
Ridgeline Fluid Systems Industrial 2021 41 2.8x 34%
Hartwell Coatings Specialty Chem 2020 46 2.2x 28%
Sequoia Fire & Safety Distribution 2020 38 3.4x 41%
Morrow Industrial Business Services 2021 52 1.9x 22%
Caulfield Logistics Transportation 2020 43 2.6x 31%
Pinebrook Packaging Manufacturing 2021 47 2.1x 26%
Northgate Fasteners Industrial Supply 2021 54 1.7x 19%

Fund IV portfolio companies are tracking 18% ahead of Fund III at same hold-year

Crestmark didn't send consultants — they sent operators with skin in the game.

— Dana Kowalczyk, former CEO, Ridgeline Fluid Systems

Fund IV final close February 28
$185M committed of $250M target

Reserve your allocation before final close