Transaction Marks Sole Source’s 40^th Investment Since Inception in 2016 and 3^rd Platform Investment in Foodservice Distribution Space

Sole Source Capital LLC, an industrial-focused private equity firm, announced today that it has acquired Lee Fish USA (“Lee”), a premium importer and value-added distributor of fresh and frozen seafood. This transaction marks Sole Source’s 40^th investment since inception in 2016 and its third platform investment in the foodservice distribution space. Terms of the transaction were not disclosed.

Founded in 2001, Lee Fish sources more than 220 premium seafood species from a diverse base of suppliers, including from wild fisheries and farms across the globe. The company has relationships and semi-exclusive arrangements in highly sought-after regions including New Zealand, Australia, and Japan. The company operates out of a strategically-located facility less than one mile from Los Angeles International Airport, which allows for best-in-class turnaround times from ocean-to-table and a reputation as a premier provider of high-quality, fresh seafood.

“This transaction marks the firm’s third platform investment in the foodservice distribution space, following our investments in Individual Foodservice and Worldwide Produce, and we believe our expertise in this market will help drive significant value,” said David Fredston, Founder and CEO of Sole Source Capital. “Our partnership with Lee was created through a long-term relationship, and we are proud to have completed our 40^th deal since the inception of the firm.”

“Sole Source is actively looking for quality-focused seafood distribution add-ons that will expand Lee’s geographic presence and drive exceptional customer service,” said Scott Sussman, Partner and CIO of Sole Source Capital.

“We are pleased to partner with Sole Source, whose team has a strong reputation of growing founder-owned businesses,” said Richard Adlem, Founder of Lee Fish.

Myles Bowker, CEO of Lee Fish added, “With Sole Source, we look forward to expanding our distribution capabilities and customer base as we continue to source the highest-quality, in-demand premium seafood for our customers throughout North America.”

About Sole Source Capital

Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy-and-build strategy with significant downside protection. The Firm is headquartered in Dallas, Texas with an additional office in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact investor.relations@solesourcecapital.com.

About Lee Fish USA

Based in El Segundo, CA and founded in 2001, Lee Fish USA is a premium importer and value-added distributor of fresh and frozen seafood to the North American market. The Company specializes in premium, branded seafood sourced from New Zealand, Australia and Japan among others. For more information, please visit www.leefishusa.com.

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