Saw Mill Capital Completes Sale of Victory Energy

Briarcliff Manor, NY – October 30, 2024. Saw Mill Capital is pleased to announce that it has successfully completed the sale of Victory Energy Operations, LLC (“Victory” or the “Company”) to Main Street Capital Corporation (NYSE: MAIN), (“Main Street”). Victory is a leading designer, manufacturer, and service provider of industrial and commercial boilers, fired packaged boilers, waste heat boilers, heat recovery generators, and related equipment utilized across a diverse group of industries.

During its partnership with Saw Mill Capital, Victory built on its strong history of innovation and growth by expanding into new market applications and broading its product offerings. The Company transition from a boiler manufacturer to a solutions-based business with comprehensive expertise in combustion and heat transfer applications. This growth was driven due to Victory’s diverse growth strategy and the strategic investments made in personnel, equipment, and technology throughout Saw Mill Capital’s investment period.

About Saw Mill Capital

Based in Briarcliff Manor, NY, Saw Mill Capital is a private equity firm that acquires facility and industrial service, specialty distribution and manufacturing businesses with enterprise values of $25 million to $200 million. Since 1997, Saw Mill Capital has been partnering with management teams to help successful businesses reach their full potential. For more information, visit www.sawmillcapital.com.

About Victory Energy

Headquartered in Collinsville, OK, Victory Energy Operations designs, engineers, manufactures, and services boilers, fired packaged boilers, waste heat boilers, heat recovery steam generators, and related equipment. As part of the Company’s customer commitment, Victory provides extensive aftermarket customer support services, including installation, commissioning and maintenance services, spare parts, burner and economizer retrofits and boiler fleet rental solutions. Victory operates across a diverse group of industry sectors, including chemical, pulp & paper, food & beverage, bio-renewables, agriculture, education, healthcare, aviation and utility industries. For more information, please visit www.victoryenergy.com