MENSURA - Key Persons

Job Titles:

• CEO
• Founder
• President
• Founder of Mensura and Its Approach to M & a

Alex is the founder of Mensura and its approach to M&A services and negotiations. Alex considers it most important to determine and understand the underlying human concerns in enterprises (the "Human Element"), meaning management and owners. Alex began his career in 1983 with the predecessor firms of Deloitte & Touche and PWC, working for the firms' top Tax M&A Partners. Subsequently, Alex formed Graham Cerisola, Inc. where he built a relationship-driven business (i) assisting businesses to recover from catastrophic events; (ii) negotiating transactions; (iii) providing M&A advisory; and (iv) investing in private enterprises. Alex developed a high degree of trust with clients by guiding them through company and personal life cycles, including difficult and boom times. He created a "partner-approach", aligning with his clients' interests. Using a partner-approach and the foundation of multi-disciplined skills built over decades of in-depth work across a broad spectrum of industries, Graham Cerisola, Inc. created its business analysis method; wherein enterprises are evaluated from the bottom up in order provide a comprehensive view of the client business through the creation of the Information Book.

Job Titles:

• Director
• Director - Legal, Financial Analysis, and Due Diligence

Brandon is a Director and is engaged in all aspects of a Mensura-driven process. He is deeply engaged in each transaction managing as well as creating detailed financial and business analyses critical to evaluating operations. Brandon works hand in hand with Peter in overseeing operational, confirmatory due diligence, flow of legal documentation, data-room oversight, client communications, coordination of diligence teams, as well as financial analysis and preparation of the Information Book and other materials critical to reaching a close. In addition, Brandon is the attorney liaison for Mensura. Brandon works with Peter in structuring and obtaining loans. Brandon joined Mensura at its inception in 2007. He earned his undergraduate degree in Business Law from the Freeman School of Business at Tulane University and his Juris Doctor, cum laude, from the University of Georgia School of Law. Brandon is licensed to practice law in the state of Georgia. Brandon holds multiple securities licenses, including Series 7, 63, 79, and 99.

Job Titles:

• Accounting Manager

Colette is Mensura's accounting manager. She has over twenty years of experience in the public accounting industry and is a Certified Public Accountant (CPA). Colette focuses on corporate accounting and regulatory compliance and is a member of the American Institute of CPAs and Georgia Society of CPAs. She earned her undergraduate degree in Accounting from Lee University.

Job Titles:

• Internal Strategic Planning Advisor
• Management Consultant With Deloitte Consulting

Kevin provides executive insights and guidance to help Mensura distinguish itself in the marketplace and build a foundation for the future. Kevin has an extensive background and knowledge base in leadership and strategic guidance. He is an adherent to Michael Porter's "Five Forces" competitive analysis, which breaks down a company's competitive landscape by understanding how the industry interacts with the "Five Forces." Kevin began his career in 1991 in software development, rising through Management. In 1998, Kevin became a management consultant with Deloitte Consulting, where he led multiple high-profile engagements including the turnaround of troubled global operations and technology transformation for inventory management, created improved technological architecture, and devised strategies that improved bottom-lines. Over this time, Kevin became a sought-after expert on the insurance industry. From there Kevin went to HUB International, one of the world's largest insurance brokerage acquirers, as a CIO and M&A co-leader. Kevin has led two digital transformations and strategic change initiatives, modernized technology, enriched data assets, and co-led thirty-five M&A transactions. Specifically in M&A efforts, Kevin has designed plans to rehabilitate underperforming companies, maximize EBITDA, fast-track cross-selling, and avert redundancies to drive synergy and value. He also revised the deal playbook, due diligence process and tracking tools to improve decisions and accelerate acquisitions. He brings a diverse perspective from corporate, management consulting, and private equity-owned companies from startup to $50B. Kevin serves as a Columbia University Executive Master's Program mentor, on company and industry boards, and has presented his successful approach to cultivating a high-performance culture at CHRO and CIO conferences. Kevin volunteers for multiple organizations, generally advising on leadership and strategy. Kevin earned a Bachelor of Science in Computer Science and Mathematics from Pace University.

Job Titles:

• Strategic Planning and Private Equity Advisor

Larry has extensive experience in public and private companies in executive and ownership positions. He is a resource for many institutional parties in the offshore and other maritime assets and operations. Currently, he is the Chairman of the Board of Tidewater, Inc. (TDW) (elected 2019). Tidewater is a leading provider of offshore marine support services globally. Prior to taking the role as Chairman, he was a Director and Interim CEO of Tidewater, following its exit from bankruptcy in 2018, a turnaround that Larry led. He has extensive prior experience as an executive at Tidewater. Larry had previously joined the company in 1992 after the merger with Zapata Gulf Marine Corp. After successive roles of increasing responsibility, he left the company as executive vice president in 2002. Larry then founded Rigdon Marine in late 2002 and served as its Chairman and CEO. He arranged $205mm in financing to design and build 20 platform supply vessels and 8 fast supply vessels and crew boats. Rigdon Marine achieved revenues of $94.3 million and EBITDA of $49.0 million. At that date, the Company had a shore based staff of 30 personnel and 280 mariners. The equity interests in the company were sold on July 1, 2008 for $275 million and GulfMark assumed $269 million in debt of Rigdon Marine Corporation. Larry became a Director of GulfMark at that time, resigning in 2010. At that time Larry became the Lead Director of Jackson Offshore, which is engaged in offshore marine support services to the offshore oil and gas business. Larry resigned from Jackson Offshore upon assuming his positions with Tidewater. Larry is also a Director of Professional Rental Tools, Inc. and Defiant Engineering LLC, and in the Investment Committee at SLC Capital Partners. Larry is a graduate of the Harvard Business School's Advanced Management Program and earned his BS in Accounting and Business Administration from Truman State College.

Job Titles:

• Staff Member

Job Titles:

• Head of Family Office Services and Private Capital at Balentine
• Private Equity and Strategic Advisor

Mark Bell, Ph.D., is a Partner and Head of Family Office Services and Private Capital at Balentine, an Atlanta-based wealth capital management firm. Prior to joining Balentine (2019), Mark was managing principal and director at Diversified Trust. He also served as chief investment officer at BlueArc Capital. Mark began his career with McKinsey & Co. and subsequently was director of strategy at D. E. Shaw & Co., a multi-strategy hedge fund manager, where he developed and executed the organization's private equity investment strategy and launched the firm's reinsurance business. He later served as the executive vice chairman of Brand Bank, where he led the recapitalization of the bank during the Financial Crisis. In addition to being a frequent contributor to publications such as Real Assets Adviser, Financial Times, Wall Street Journal, The New York Times, and Atlanta Business Chronicle, Mark has given international lectures at Luxembourg School of Finance, the University of Zurich, Sciences Po, the Vatican, and the Kuwait Fund. At Emory University, Mark is a senior fellow and adjunct faculty member of the Center for Alternative Investments at Goizueta Business School and a Visiting Professor and Advisory Board Chair in the Department of Quantitative Theory and Methods. Mark is a valuable resource to Mensura as an advisor in our relationships and strategies as we interact on behalf of our clients who seek investment from private equity firms. Mark is a recipient of a Fulbright Scholarship, the author of a scholarly monograph, six peer-reviewed articles, and several edited chapters. Mark was the valedictorian of his Stanford class and earned a Marshall Scholarship to study at Oxford University. Dr. Bell received his Doctorate and Master's degree in Religious History from University of Oxford. He graduated from Stanford University.

Job Titles:

• Associate
• Investment Banking Associate

Matthew Blum joined Mensura Capital as an associate in 2021. He is actively involved in financial analysis, due diligence, and preparation of the Information Book and works closely with Peter S. Van Nort and Brandon Rice. Matthew graduated from the A.B. Freeman School of Business at Tulane University with an undergraduate degree in finance. He also received a Master's of Accounting degree from Tulane University. Matthew holds a Series 79 securities license.

Job Titles:

• Strategic Planning and Private Equity Advisor

Mike has extensive experience in both public and private companies in multiple executive and ownership positions. In addition to being a resource for institutional parties studying, operating or investing in shipbuilding, or other related operations. Mike has been on the executive end of both acquiring and selling businesses. For decades, Mike has been in leadership positions with companies servicing the most demanding clients in the world, including the US Navy. From 2000 until 2022, Mike served as President and CEO of International Marine and Industrial Applicators ("IMIA"), - where he led it to become a powerful provider of critical vessel preservation services to the U.S. Navy ("USN") and commercial maintenance, repair, and overhaul and new construction markets. With a national footprint, IMIA is a market leader in the surface preservation of hulls, tanks and other critical coated areas on USN submarines, aircraft carriers, surface combatants and auxiliaries as well as commercial vessels. Under Mike's leadership and strategic plan, IMIA grew organically and through acquisition into a multi-discipline marine contractor, with a primary focus in the defense sector. Now, under Armada, Inc., this Company has undergone ownership changes, each time advancing the interests of its owners. Today the Company is owned by the investment firms The Carlyle Group and Stellex Capital Management. It was previously owned by JF Lehman & Company. Mr. Keenan began his career in shipbuilding and ship repair in 1966, working for Newport News Shipbuilding ("NNS") for 30 years in various capacities, including Hull Outfitting Foreman, Blast and Coat Superintendent, Director of Manufacturing, Director of Commercial Construction, and Plant Manager of Asheville Industries, Inc. (a wholly owned subsidiary of NNS). He subsequently served as President of Tampa Bay Shipbuilding & Repair from 1996 to 1999. Mr. Keenan served in the U.S. Marine Corps, and he earned a Hull Outfitting Apprenticeship degree, while with NNS, a Bachelor of Science degree from Old Dominion University' and an MBA from William & Mary (‘92).

Job Titles:

• Co - Founder
• Principal
• Senior Partner

Peter is a Senior Partner responsible for overseeing operational, confirmatory due diligence, flow of legal documentation, data-room oversight, client communications, coordination of diligence teams, as well as financial analysis and preparation of the Information Book and other materials critical to a Mensura-driven process. In debt transactions, Peter oversees all substantive tasks from structuring to negotiations with lenders. In addition, he serves as the firm's CFO, Chief Compliance Officer, and Financial Operations Principal. Peter and Alex Graham have been business partners since early 2002, when Peter joined Graham Cerisola, Inc. (Mensura's predecessor) providing a wide array of advisory services to an extended client base, as well as overseeing and training the professional staff. After college, he began his career with Smith Barney, Harris Upham & Co. before going to graduate school and earning his MBA. He then joined American Airlines as a financial analyst, where he rose into management positions in the financial and marketing divisions with both American Airlines and Delta Air Lines. Peter has served on the boards of several client and portfolio companies over the years. He earned his undergraduate degree in Mathematics, as well as his MBA in Finance, from Wake Forest University, where he was a scholarship athlete. Peter is an FAA Certified Private Pilot and licensed real estate broker. Peter holds multiple securities licenses including Series 7, 24, 27, 65, 63, 79, and 99.

Job Titles:

• Debt and Equity Investment Advisor

Bob is a debt and equity advisor, providing guidance in determining the advisability and structure of debt and equity investments arranged by Mensura. Bob was a member of SunTrust Bank's investment banking department for over 16 years, where he managed the M&A and structured finance practices and founded SunTrust Equity Partners. In that role, Bob provided investment banking services to over 150 private companies, including buying and selling companies, structuring management buyouts, offering private placements of debt and equity and overseeing principal investment of over $300 million of subordinated debt and private equity. Prior to his career at SunTrust, he worked in the oil industry in strategic planning, M&A and alternative energy roles. Alex and Bob have worked together for over 10 years on investment banking transactions. Bob earned his undergraduate degree in Economics and Mathematics from Georgetown University and an MBA in Corporate Finance from Wharton Business School.

Job Titles:

• Executive Assistant
• Office Manager

Susanne is Mensura's executive and administrative assistant. Susanne has over twenty years of experience managing offices in demanding and fast paced environments. She has been with Mensura since its inception and is highly talented. She received her vocational degree in Berlin, Germany.