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Steelite Acquires Delfin Hospitality

11 July 2023

Press Release

FOR IMMEDIATE RELEASE

July 2023

Steelite International Announces Acquisition of Delfin, Further Strengthening Its Position as a Global Leader in Tabletop Solutions

New Castle, PA. -- [July 7, 2023] -- Steelite International ("Steelite" or the "Company"), a leading international supplier and manufacturer of award-winning tabletop, buffet, and lighting solutions to the global hospitality industry, is thrilled to announce the acquisition of Delfin, a renowned provider of high-quality retail and foodservice display and tabletop solutions for over 32 years.

Since its establishment in 1991, Delfin has built a rich history of delivering uncompromising quality, impeccable design, and innovative ideas to its customers. The company's wide range of standard collections and ability to accommodate custom work have earned Delfin respect in the industry. This strategic acquisition allows Steelite to further enhance its standing as a premier supplier of top-tier tabletop and buffet solutions on a global scale, control its onshore melamine manufacturing facility, and immediately gain presence in the North American food retail segment.

John Miles, President and CEO of Steelite International, expressed excitement about the acquisition, "We are delighted to welcome Delfin to the Steelite family. This acquisition represents a significant milestone for our company as we expand our product offerings and strengthen our position as a global leader in hospitality. Delfin's manufacturing expertise, commitment to quality, and innovative approach align with our core values, making them an excellent fit for Steelite. The Delfin manufacturing plant in Mexico will continue to provide customers with outstanding quality and unmatched product delivery speed. As with all our factories worldwide, we intend to invest in the Delfin Mexico operation to increase capacity and manufacturing sophistication."

Delfin's CEO, John Rief, added, "Joining forces with Steelite presents an incredible opportunity for Delfin to reach new heights. We are proud of our accomplishments and excited about the synergies that will emerge from this collaboration. Together, we will continue to deliver exceptional solutions that exceed customers' expectations."

“This acquisition represents an exciting opportunity for Steelite to enhance and expand the innovative melamine products offered to the hospitality market today. Bringing Delfin’s manufacturing expertise in-house further bolsters Steelite’s ability to provide its customers top-notch service and product quality,” said George Russell, Vice President at Arbor. “Steelite continues to build its curated portfolio of world-class tabletop, buffet, and lighting products, helping customers to elevate guests’ dining experiences.”

Headquartered in New Castle, PA, Steelite International operates in over 140 countries, supplying products to more than 50,000 end-user locations. With multiple manufacturing facilities and 16 showrooms across the globe, Steelite is dedicated to offering top-notch design and functionality while minimizing its environmental impact. The Company's commitment to excellence is evident in its multiple manufacturing facilities, including two in Stoke-On-Trent, UK, and Manlius, NY, encompassing a total of 600,000 square feet. Steelite also operates 16 showrooms worldwide and sources products from 17 different countries.

Steelite International is owned by Arbor Investments, a specialized private equity firm that focuses exclusively on acquiring premier companies in food, beverage, and related industries.  Arbor acquired Steelite in December 2019 and has made significant investments to grow the business both organically and through acquisitions.

About Steelite International:

Steelite International is a leading designer, marketer, manufacturer, and supplier of award-winning tabletop, buffet products, and lighting solutions for the global hospitality industry. The company prides itself on delivering exceptional quality and design while maintaining a commitment to sustainability. With a vast global presence, Steelite International continues to set the standard for excellence in tabletop solutions. For more information, visit www.steelite.com.

About Delfin:

Delfin is a respected provider of stylish, high-quality display and tabletop solutions for both the retail and hospitality industries. For over 32 years, Delfin has demonstrated unwavering commitment to customer satisfaction and an innovative approach to design. The company specializes in in-house operations, covering every aspect from design to manufacturing, and continually explores new materials to create unique solutions.

About Arbor Investments:

Founded in 1999 with offices in Palm Beach, Chicago, and New York, Arbor Investments is a specialized private equity firm focused exclusively on acquiring premier companies in food, beverage and related industries. To date, the firm has acquired or invested in over 80 companies in North America. www.arborpic.com