Group Led By Rock Mountain Capital and The Olayan Group Acquires 48% Stake in PurposeBuilt Brands from Carlyle – Carlyle

New York, February 2, 2022 Rock Mountain Capital, The Olayan Group and funds managed by global investment firm Carlyle (NASDAQ: CG) today announced that a group led by Rock Mountain and Olayan has acquired a 48% stake in PurposeBuilt Brands, the proceeds of which were used to redeem Carlyles position. TA Associates, an investor since 2019, and company management are rolling 100% of their equity and will hold a 52% ownership stake.

PurposeBuilt Brands is a portfolio of leading specialty cleaning products for the consumer and commercial markets. In 2021, the company celebrated its 41st consecutive year of year-on-year growth, operating with a strong consumer- and customer-centric approach, combined with distinguished chemical and manufacturing expertise.

PurposeBuilt Brands has an outstanding collection of brands serving consumer and commercial customers, and a proven history of growth, said David Scharf, Managing Director, Rock Mountain Capital. As a PurposeBuilt Board member for the past three years I have seen first-hand how Chris Bauder, Carlyle and TA have been able to expand the companys portfolio and strong customer relationships. We look forward to building on this success and to supporting PurposeBuilts future growth with TA and with Chris and his team.

What is exciting about this investment is the strength and resilience of PurposeBuilts portfolio, the depth of talent of the management team, and the relationships with their customers, said David Syriani, Managing Director, Head of Private Equity Directs, Americas, at The Olayan Group.PurposeBuilt fits perfectly with Olayans long-term investing strategy, and is very well positioned for even greater success.

Over the course of our partnership, PurposeBuilt has experienced significant growth through three strategic acquisitions, investing in more eco-friendly and green products as an EPA safer-choice partner two years in a row, and significantly expanding its e-commerce business, said David Basto, Managing Director at Carlyle. We are proud of PurposeBuilts unwavering commitment to innovation and intentional focus on sustainable and safe-to-use products and are pleased to see the company continue on its long-term growth journey with new partners Rock Mountain Capital and Olayan, and continuing investor TA.

TheCarlyleGroupand TAhave been excellent partners over the past three years, helping us to deliver meaningful growth, increase our ESG credentials and improve our environmental stewardship, said Chris Bauder, President and CEO, PurposeBuilt Brands. We are excited to welcome Rock Mountain Capital and The OlayanGroup as partners, and we look forward to working with them and TA to continue to innovate and add to our portfolio of specialty cleaning products, both domestically and internationallyand to continue our 41 consecutive years of organic growth.

Since our initial investment in 2019, we have been fortunate to support PurposeBuilt Brands in scaling its business, expanding on a long history of growth, innovation and exceptional customer service, said Bill Christ, Managing Director, TA. We welcome Rock Mountain Capital and Olayan, and are excited to further our partnership with Chris and the entire management team as we help drive continued growth for the company.

Goodwin Procter acted as legal advisor to Rock Mountain Capital and Shearman and Sterling LLP acted as legal advisor to The Olayan Group. Kirkland & Ellis acted as legal advisor to PurposeBuilt Brands. Barclays (Lead Advisor), Morgan Stanley & Co., and Baird acted as financial advisor to PurposeBuilt Brands.

Rock Mountain Capital

Rock Mountain Capital is a private equity firm founded by industry veteran David Stonehill, who brings over 25 years of experience investing in and growing middle market companies. Rock Mountain focuses on working with entrepreneurs and management teams in the consumer goods & services, technology, media & telecom (TMT), and consumer-facing healthcare services sectors to accelerate organizational development, execute on organic growth opportunities, and pursue strategic M&A and roll-up/consolidation strategies.

The Olayan Group

Originating in 1947, The Olayan Group is a multinational enterprise with an actively managed portfolio of diversified global investments across all asset classes. The Groups international headquarters is in Vaduz, Liechtenstein. Olayan also has offices in New York, London, Luxembourg, Vienna, Athens, Singapore and Riyadh, where its MENA investments and commercial operations are based. The Group is a private concern with single-family ownership, a multigenerational outlook, and enduring partnerships.

Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyles purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents.

PurposeBuilt Brands

PurposeBuilt Brands is a high-growth portfolio of category-leading, efficacy-driven specialty cleaning and disinfection brands. PurposeBuilt creates products that can be trusted to perform optimally on peoples valued surfaces, spaces and equipment and are formulated to be better for them, their families, their businesses, and the environment. Consumer brands include Weiman, Green Gobbler, Goo Gone, Gonzo Natural Magic, biokleen, Magic, Wrights and Stone Care International. Commercial brands include Urnex, Five Star and Opti-Cide, which are focused on the growing specialty beverage and healthcare industries.

TA Associates

TA is a leading global growth private equity firm. Focused on targeted sectors within five industries technology, healthcare, financial services, consumer and business services the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firms more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at http://www.ta.com.

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Media Contacts:

Rock Mountain Capital

Abbe Serphos

917.699.9661

aserphos@ppbcomms.com

Carlyle

Brittany Berliner

212.813.4839

Brittany.berliner@carlyle.com

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Group Led By Rock Mountain Capital and The Olayan Group Acquires 48% Stake in PurposeBuilt Brands from Carlyle - Carlyle