• MTI Instruments is a leading provider of precision tools, systems and solutions for the measurement and control of processes and products

• Successful transaction highlights Mesirow’s expertise and relationships within the industrial test and measurement markets

CHICAGO, April 20, 2022 – Mesirow, an independent, employee-owned financial services firm, today announced it acted as the exclusive financial advisor to MTI Instruments, (“MTI” or the “Company”), a subsidiary of Soluna Holdings, Incorporated (“SHI” or “Soluna Holdings”), on its sale to Vitrek LLC, a strategic buyer in the test and measurement space and a portfolio company of private equity manager Branford Castle Partners, LP.

Headquartered in Albany, NY, MTI is a US-based manufacturer of precision tools, systems and solutions for clients requiring the precise measurement and control of products and processes. The Company services a variety of markets, including engine vibration analysis systems for military and commercial aircraft, industrial manufacturing, and production markets as well as the research, design, and process development markets.

Michael Toporek, CEO of Soluna Holdings, said “Mesirow offered unwavering support throughout this transaction, utilizing their long-standing relationships and expertise within the industrial test and measurement markets to identify the ideal partner for MTI.”

Nathan Moeri, managing director of Mesirow Investment Banking commented “We appreciated the opportunity to represent MTI in this important transaction. We believe Vitrek is the ideal partner for MTI and will help build upon the Company’s position within the test and measurement industry.”

“This new partnership is a great opportunity for our employees, and customers alike, and the effective guidance provided by Mesirow’s team was instrumental in bringing this partnership to fruition,” added Moshe Binyamin, President, and CEO of MTI Instruments. “We are eager to begin working with the Vitrek team to build an even more comprehensive portfolio of products and services.”

The sale of MTI Instruments to Virek LLC represents another successful assignment completed by Mesirow Investment Banking and highlights the firm’s expertise within the industrials and test and measurement sectors. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep long-standing relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of clients.

About Mesirow

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities, and our culture. To learn more, visit mesirow.com and follow us on LinkedIn.

Mesirow was recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top 100 RIA firms by Barron’s.

About MTI Instruments

Based in Albany, New York, MTI Instruments, Inc., is a global leader in non-contact measurement tools and condition-based monitoring systems with a growing customer base spanning more than 60 countries. MTI Instruments has a rich history in innovation for developing and manufacturing sensors and systems to help clients secure the highest level of accurate measurements in order to drive innovation, identify efficiencies and increase competitiveness. MTI Instruments provides comprehensive solutions to better address challenges and applications within numerous industries, including industrial manufacturing, consumer electronics, semiconductor, solar, commercial, and military aviation, automotive, transportation and R&D.

Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow investment vehicle(s). Mesirow Financial, Inc. is not affiliated with MTI Instruments, Soluna Holdings, Incorporated, Vitrek LLC,­­ or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc., and its divisions, subsidiaries, and affiliates. The Mesirow name and logo are registered service marks of Mesirow Financial Holdings, Inc. © 2022. All rights reserved. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.