Market Overview

Solace Capital Partners Acquires CST Industries

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Solace Capital Partners ("Solace"), a private equity firm focused on
special situations investments in North America, today announced it has
acquired CST Industries, Inc., ("CST"), the world's largest and leading
tank and dome manufacturer.

Headquartered in Kansas City, MO, with a 125-year heritage, CST
Industries provides storage systems, complementary or independent cover
products, proprietary coating and lining services, field installation,
inspection, maintenance and retrofit proficiency, to a wide range of end
markets. The company has an installed base of more than 350,000 storage
tanks and 18,000 covers across 125 countries. CST has nine sales offices
across the United States, Mexico, Brazil, Spain, Argentina, U.A.E.,
Vietnam and Australia and operates five manufacturing facilities located
in North America and Europe.

Christopher Brothers, Managing Partner at Solace, said, "CST is a market
leader with a blue-chip customer base, diversified revenue streams and
many exciting growth opportunities. As global demand for storage tanks
and covers increases, we believe CST is well positioned to leverage its
scale, unique engineering and manufacturing expertise, strong and
growing order backlog and significantly strengthened balance sheet to
meet the needs of its customers worldwide. We are excited to partner
with CEO Tim Carpenter and his team to support CST's business
objectives."

Tim Carpenter, CEO of CST, added, "This is an exciting new chapter for
our company. Over the past 18 months, we have made significant
operational improvements across all facets of the business, enhancing
our safety, quality, delivery, manufacturing proficiency, responsiveness
and customer satisfaction. We are thrilled to partner with Solace, which
recognizes the opportunities in our business and will help us reach our
full potential."

About Solace Capital Partners

Solace Capital Partners is a private investment firm focused on
control-oriented special situations and distressed-for-control
investments in complex, distressed or capital-constrained, lower-middle
market companies. Solace's principals have on average 25 years of
relevant investing experience across various sectors and have spent more
than two decades cultivating relationships across far-reaching networks.
Launched in 2014, Solace has offices in Los Angeles and New York. For
more information, please visit www.solacecap.com.

About CST Industries

CST is the largest dome and storage tank manufacturer in the world.
CST's existing company portfolio consists of CST Storage, CST Covers and
Vulcan Tanks. Five manufacturing facilities and technical design centers
and multiple regional sales offices are located throughout North America
and the United Kingdom. International offices are located in Argentina,
Australia, Brazil, India, Japan, Malaysia, Mexico, Singapore, Spain,
United Kingdom, United Arab Emirates and Vietnam. Currently, more than
350,000 storage tanks and 18,000 covers have been installed in 125
countries throughout the world.

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