aKAIN `ritP CAPITAL Confidential investment review Company Overview imageone ndustries ImageOne Industries, Inc., based in Philadelphia, PA, is a manufacturer and provider of products and services related to facilities management for retail and other institutional providers. Its primary business provides design and manufacturing of custom signage, storefronts, ATM environments, lighting systems, and fascia systems. ImageOne is also expanding its facilities management programs. ImageOne operates with three manufacturing facilities in close proximity to each other in Philadelphia and one in Arizona. The facilities are leased from the Seller. ImageOne's customer base includes national and international commercial and retail customers, such as: Dick's Sporting Goods, Bank of America, Wells Fargo, Sovereign Bank / Santander, Staples, Pier One Imports, NEIL, MLB, Rite Aid, Walgreens, University of Phoenix and many more. Company Financials ImageOne has a track record of rapid growth and high profitability, with a CAGR of 31% from 2008-2014 and EBITDA margins from 19% in 2013 up to 27% in the last fiscal year. The Company has reviewed financial statements that have been corroborated through Quality of Earnings diligence by McGladrey. The Company also has internal reporting mechanisms and a job cost accounting system with margins by customer. Revenues, and EBITDA, year ending December 31, have been as follows': 2008 2009 2010 2011 2012 2013 2014 20152 2016E Rev (mm) 93 112 16.1 24.8 27.7 33.1 47.7 51.5 65.4 EBITDA (mm) 5.2 6.8 13.1 133 17.0 As shown above, Kain Capital LLC estimates that ImageOne is currently running at a $13.7mm annualized EBITDA run rate for 2015. Estimated revenue and EBITDA projections for 2015 are based on current revenue that has already been booked, and additional contracts that are currently being worked on. Projections for 2016 revenue and EBITDA arc conservative, and based on the firm's growth plans.