June 25, 2021

Benford Capital Partners Management, L.P. (“Benford Capital” or “BCP”), a Chicago-based private equity investment firm, is pleased to announce the acquisition of NucFil, LLC (“NucFil” or the “Company”) in partnership with CEO Terry Wickland, who will continue to lead the Company post-closing.  The acquisition of NucFil represents the fourth platform investment in Benford Capital Partners I, LP.

Founded in 1985 and headquartered in Golden, CO, NucFil is the leading manufacturer of highly engineered, proprietary storage and safety products, used primarily by Department of Energy (“DOE”) laboratories, for safe handling, transportation, storage and analysis of nuclear material and waste.  The Company’s specialized products are used in a wide range of applications including plutonium research & development, storage, transuranic waste transportation and disposal, and remediation.  In addition, NucFil provides related services (gas analysis, characterization, certification, testing, and repair) on a recurring basis to numerous DOE entities.

“We were seeking an investment partner who understands our highly engineered products, believes in the market opportunity, and brings operating resources to the table to help scale our company,” said CEO Terry Wickland.  “We look forward to building on our long history of providing proprietary, safety-driven products to our customers in their mission-critical operations.  We believe our partnership with BCP will help us better serve our customers, innovate, and accelerate growth.”

“Terry and the NucFil management team have built a unique portfolio of proprietary products with a reputation for an extremely high level of quality and reliability among its DOE customers,” commented Brian Staff, a BCP Operating Partner focused on the Industrial Technology sector. “I look forward to working closely with the team to continually evolve the business to meet ongoing needs and growing demands of the DOE and NFT’s other partners across the industry.”

Benford Capital and NucFil plan to continue investing in enhanced operational capabilities, new product development, and marketing to drive organic growth.  In addition, BCP and management will actively pursue add-on acquisitions of companies in nuclear safety-related products and services.

Commenting on the new investment, Benford Capital Managing Director Edward Benford added, “NucFil is a true niche-market leader with differentiated technology and significant growth opportunities.  This will be BCP’s 5^th Industrial Technology platform, and we look forward to building NucFil with Terry Wickland and executing on the growth opportunities with the team in the years ahead.”

ABOUT BENFORD CAPITAL PARTNERS

Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management.  Since inception, Benford Capital has acquired 25 companies, including several add-on acquisitions, and currently owns 12 platform companies.  Industry areas of focus include industrial technology, consumer products and food, B2B e-commerce, and agricultural products and services.  For more information, please visit www.benfordcapital.com.

For any questions or add-on acquisition ideas for NucFil, please contact Edward Benford (edward@benfordcapital.com) or Brian Behm (bbehm@benfordcapital.com).