Acquisition Announcement: Piedmont Electric Motor Repair, Inc. (“Piedmont”)

Zelienople, PA – January 18, 2024 — Motion & Control Enterprises (“MCE”) announced today that it has acquired Piedmont Electric Motor Repair, Inc. (“Piedmont” or the “Company”).

Founded in 1971 and based in Asheboro, NC, Piedmont offers a broad range of industrial products and services, including electric motors, cranes, material handling, fabrication/welding and machinery services. The Company serves industrial and commercial customers across diverse end markets. The Company will operate under the Piedmont Electric Motor name with the continued leadership of Scott Saunders.

“We are very excited to welcome the Piedmont associates to the MCE team,” said Charles Hale, Chairman & CEO of MCE. Hale noted that “Maintenance and repair capabilities are critically important for today’s customers and are consistent with our strategy of being a full-lifecycle provider of highly-engineered products and services. Piedmont is a well-recognized provider of electric motor and crane repair services, and the strategic combination of our businesses will be positive for our customers and employees.”

Thomas Saunders, Piedmont’s former owner, commented, “I am delighted that Piedmont has joined MCE. This will provide Piedmont’s customers and employees many added opportunities for the future.”

About Motion & Control Enterprises

Founded in 1951, MCE is a supplier of technical fluid power, automation, flow control, compressed air products, filtration, service, and repair solutions. The Company serves more than 26,600 OEM and end-user customers from 47 facilities located in 15 states. For more information, please visit www.mceautomation.com.

About Frontenac

Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50+ years, Frontenac has built a franchise working with over 300 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit frontenac.com.

About Piedmont Electric Motor Repair

Piedmont is an industrial services provider of electric motor, crane and hoist, material handling and ergonomics, custom fabrication, and on-site welding and machine services. For more information, please visit piedmontelectricmotor.com.