KPS Capital Partners Announces Promotions

RAQUEL PALMER ELEVATED TO CO-MANAGING PARTNER

RYAN BAKER AND KYLE MUMFORD ELEVATED TO PARTNER

NEW YORK,Nov. 5,2018 --KPS Capital Partners,LP ("KPS") announced today that Raquel Palmer has been promoted to Co-Managing Partner,and Ryan Baker and Kyle Mumford have been promoted to Partner.

Michael Psaros,Co-Founder of KPS,said,"Raquel's elevation to Co-Managing Partner is an acknowledgement of the critical leadership role she plays at our firm. Raquel was present at its creation,and for nearly the past quarter century she has been integral in building KPS into the leading global private equity firm and franchise it is today. She is also recognized as one of the most accomplished and creative professionals in the private equity business. We look forward to working with Raquel to accelerate our firm's extraordinary trajectory and momentum."

David Shapiro,"We congratulate Ryan and Kyle,the first members our team elevated to Partner in more than a decade. Ryan and Kyle's contributions over the past decade are truly extraordinary,yet they earned this partnership not only because of their exceptional body of work,work ethic and success,but,importantly,because they embody the values and value system of our firm. Mike,Raquel,Jay and I look forward to working with our new Partners to continue to create value for our investors into the future by seeing value where others do not,buying right and making businesses better."

KPS is very proud of the strength,longevity and continuity of its senior leadership team. The Co-Founders have worked together since 1991. Raquel Palmer has been a KPS team member for nearly 25 years. Jay Bernstein has been a KPS team member for nearly 20 years. Ryan Baker and Kyle Mumford have been KPS team members for over 10 years. For more information,please go to www.kpsfund.com/team/partners.

About KPS Capital Partners,LP

KPS is the manager of the KPS Special Situations Funds,a family of investment funds with approximately $5.4 billion of assets under management. For over two decades,the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries,including basic materials,branded consumer,healthcare and luxury products,automotive parts,capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better,and generates investment returns by structurally improving the strategic position,competitiveness and profitability of its portfolio companies,rather than primarily relying on financial leverage. The KPS Funds' portfolio companies have aggregate annual revenues of approximately $5.5 billion,operate 110 manufacturing facilities in 27 countries,and have nearly 21,000 employees,directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.