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Westward Partners' Portfolio Company, OSW Equipment & Repair, Completes Follow-on Acquisition

SEATTLE, WA, April 1, 2019 - Westward Partners LLC ("Westward"), today announced the acquisition of Northend Truck Equipment, LLC. ("NTE" or the "Company") by its portfolio company, OSW Equipment & Repair, LLC. ("OSW").

In business for over 30 years, Marysville, WA-based NTE is one of the largest light to medium duty work truck body assemblers in the Pacific Northwest. NTE has focused on selling to government entities and municipalities in Washington State, Oregon, and Alaska to drive consistent growth supported by long-term contracts and relationships.

NTE provides OSW with a highly complementary business line of truck bodies, beds, and accessories for vehicles in the Class 2-8 categories, predominantly in the municipal end-market. Municipal customers represent long-term contracted revenue streams adding additional stability to OSW’s diversified mix. The Company also brings best-in-class truck body install practices that will be leveraged by OSW going forward and opens up meaningful product cross-selling opportunities between the two companies.

"We have known Greg and his business for some time, and we are thrilled to partner with him and the NTE team," said Westward Founder and Partner, Andy Baldridge. "By pairing NTE’s expertise in the municipal market with OSW’s manufacturing strength and scale, we look forward to the combined company producing incredible products for their long-time customers and opening up capacity to serve new customers as well. OSW continues to look for opportunities to partner with quality dump and work truck companies in the region."

About OSW Equipment & Repair

Founded in 2000 and headquartered in Snohomish, WA, OSW is the leading manufacturer of dump truck bodies and other truck bodies in the Northwest, with a 70%+ market share. The company recently completed the construction of a state-of-the art facility to expand capacity and meet end-market demand.

About Westward Partners

Founded in 2010 and based in Seattle, WA, Westward Partners invests in Northwestern North American businesses with revenues between $15 and $200 million and EBITDA between $3 and $12 million. The Firm partners with closely-held businesses that have strong management teams to build long-term value for its investors, employees of portfolio companies, and the executives with whom Westward works.

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