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Stellex Capital

Winn, MI — March 21, 2016 – Morbark, LLC, announced that an affiliate of Stellex Capital Management has acquired the Company. The acquisition is focused on providing growth capital and resources to significantly expand the Company in the future. The stock purchase is a strong fit for the new owners with a portfolio focus of identifying companies with solid market and product presence that can benefit from growth capital and aggressive management and operating strategies. “Our acquisition of Morbark is a great fit for us. We believe the Company is well positioned to grow in the coming years, and we are confident that the capital and resources we bring will fuel that growth,” said David Waxman, Principal of Stellex. He continued, “Morbark is exactly the type of company we look to invest in – strong history, market presence, products, and an outstanding workforce. In addition, we believe with the right