Westport, CT, October 31, 2022 – Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated fund, Balance Point Capital Partners IV, L.P., is pleased to announce its investment in CraneTech Inc. (“CraneTech” or the “Company”), a portfolio company of Steel River LLC (“Steel River”). Balance Point delivered a comprehensive financing solution that provides meaningful capital to support the future growth of the business.

Founded in 2004 and headquartered in Stockton, CA, CraneTech is a leading provider of overhead crane inspection, maintenance, and manufacturing services across the U.S. CraneTech serves a variety of customers and end markets, including the manufacturing, aerospace & defense, automotive and metals industries, among others. The Company was acquired in 2021 by Steel River, which is a permanent holding company created to build the next generation of industrial services businesses across the lower middle market. Steel River has completed six tuck-in acquisitions at CraneTech since its initial investment.

“We are pleased to partner with CraneTech and Steel River on this transaction,” said Seth Alvord, Managing Partner at Balance Point. “We believe there is significant white space for growth in this business and we are excited to support the Company and team going forward.”

Austin King, CraneTech CFO and Co-Founder of Steel River, said “We are thrilled to have Balance Point as a partner. Their deep understanding of our business, long-term alignment, and capital flexibility will provide the support necessary to execute on our growth objectives.” Eric Factor, CraneTech CEO and Steel River Co-Founder, added, “Balance Point provided a creative and unique solution that matched our needs and boosts our ability to pursue our growth initiatives while creating the best workplace in the industry for crane technicians and providing best-in-class, mission-critical services for our customers.”

Balance Point is an alternative investment manager focused on the lower middle market. With approximately $1.7 billion in assets under management, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.

Balance Point is a registered investment advisor. Further information is available at www.balancepointcapital.com.