Benford Capital Partners Recapitalizes CGRS

Benford Capital Partners ("Benford Capital" or "BCP"), a Chicago-based private equity investment firm, is pleased to announce its recapitalization of CGRS, Inc. ("CGRS" or the "Company") in partnership with Founder and CEO Eric Hick. CGRS is the 3^rd platform investment in Benford Capital Partners III, LP.

Founded in 1987 and headquartered in Fort Collins, CO, CGRS is a testing, inspection, certification and compliance ("TICC") platform delivering specialized, regulatory driven environmental compliance, remediation and infrastructure services to a variety of end-markets across the Western U.S.

"Over the last four decades, our team has built CGRS into a leading services provider for our loyal and growing customer base. We were looking for a partner that would not only serve as an excellent steward for the business, but also one with proven experience scaling inspection and testing businesses. BCP was the clear choice and I'm excited to partner with them moving forward." commented Eric Hick.

BCP and CGRS will continue executing on the Company's successful, long-term organic growth strategy, including expansion into new geographies, as well as building upon the Company's diverse services offerings. In addition, BCP will actively pursue add-on acquisitions of complementary environmental compliance and monitoring businesses.

Regarding the new investment, BCP Managing Director Ben Riefe said, "We are thrilled to partner with Eric and the CGRS team at this exciting inflection point for the Company. We look forward to preserving the Company's excellent reputation and culture in partnership with its outstanding leadership team and building on this strong foundation in the years ahead."

ABOUT BENFORD CAPITAL PARTNERS

Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, Benford Capital has acquired over 70 companies and currently owns 18 platform companies. BCP's industry areas of focus include Specialty Services, Industrial Technology & Manufacturing, Food, Ingredients and Consumer Products, and Agricultural Products and Services. For more information, please visit https://www.benfordcapital.com.

The transaction was led by Ben Riefe, Brian Staff, Andrew King, Connor Bonecutter and Evan Lakins. DLA served as legal counsel to Benford Capital Partners. Twin Brook Capital Partners provided debt financing in support of the transaction. Forvis Mazars Capital Advisors served as exclusive sell-side advisor to CGRS.

Please contact Ben Riefe ([email protected]) or Andrew King ([email protected]) with any questions or add-on acquisition ideas related to CGRS (https://www.cgrs.com).