KPS CAPITAL PARTNERS TO ACQUIRE THE WELLS COMPANIES, INC.

Leading Manufacturer and Installer of Above-Grade Architectural and Structural Precast Concrete Solutions

NEW YORK, Feb. 10, 2026 /PRNewswire/ -- KPS Capital Partners, LP ("KPS") announced today that, through a newly formed affiliate, it has signed a definitive agreement to acquire The Wells Companies, Inc. ("Wells" or the "Company"), a leading designer, manufacturer and installer of above-grade architectural and structural precast concrete solutions in the United States. Financial terms of the transaction were not disclosed. Completion of the transaction is expected in the first quarter of 2026 and is subject to customary closing conditions and approvals.

Wells is a leading provider of above-grade precast concrete solutions in the United States, serving a broad range of end-markets and customers nationwide. As a fully integrated platform, the Company has one of the most comprehensive above-grade precast portfolios in the industry, offering end-to-end capabilities including design assist, engineering services, manufacturing and on-site installation and finishing. Headquartered in Albany, Minnesota, Wells employs approximately 2,700 people and operates 13 strategically located manufacturing facilities across the United States.

Ryan Harrison, Partner and Co-Head of KPS Mid-Cap Investments, said, "We are excited to acquire Wells, a market leader in the above-grade precast concrete industry in the U.S. The Company's leadership position is driven by its comprehensive product portfolio, differentiated value-added services capabilities, long-tenured customer relationships and a best-in-class manufacturing footprint. Wells' manufacturing expertise, commitment to quality and strong customer relationships, combined with KPS' strategic, operational and financial resources provide an ideal platform for future growth. We look forward to partnering with Chief Executive Officer Dan Juntunen and the rest of the Wells team to aggressively expand the business both organically and through strategic acquisitions."

Dan Juntunen, Chief Executive Officer of Wells, said, "KPS, with its demonstrated track record of manufacturing excellence and significant building products experience, is the ideal partner for Wells as we enter this next phase of growth. We look forward to working closely with KPS and our talented team to expand our industry leadership and to continue delivering high-quality products that provide significant value for our customers. The Company is well-positioned to benefit from strong industry tailwinds from the growing adoption of precast concrete solutions across diverse construction applications and leveraging our unique market position."

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS. Piper Sandler and Taft, Stettinius and Hollister LLP served as financial advisor and legal counsel, respectively, to Wells.

About Wells
The Wells Companies, Inc. is one of the nation's leading full-service prefabricated building solutions providers with a focus on above-grade structural and architectural precast concrete solutions. With over 70 years of expertise, Wells works alongside design and construction partners, adding value by solving challenges, reducing risk and establishing trust from project onset to completion. With an eye to the future, Wells advanced research, manufacturing and building practices are continuously raising standards for innovation and efficiency in the built environment. The Wells team creates landmarks across the U.S., transforming communities and helping businesses and individuals thrive. For more information about Wells, visit www.wellsconcrete.com.

About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with $19.5 billion of assets under management (as of September 30, 2025). For nearly three 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 $21.2 billion, operate 202 manufacturing facilities in 21 countries, and have approximately 55,000 employees, directly and through joint ventures worldwide (as of September 30, 2025). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

KPS Mid-Cap focuses on investments in the lower end of the middle market. KPS Mid-Cap targets the same type of investment opportunities and utilizes the same investment strategy that KPS' flagship funds have for over three decades. KPS Mid-Cap leverages and benefits from KPS' global platform, reputation, track record, infrastructure, best practices, knowledge and experience. The KPS Mid-Cap investment team is managed by Partners, Pierre de Villeméjane and Ryan Harrison, who lead a team of experienced and talented professionals.

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