WINSTED CORPORATION ANNOUNCES NEW OWNERSHIP

Minneapolis, Minn., Nov. 14, 2019 –Winsted Corporation announced new ownership under Pathfinder Companies, LLC. The acquisition of Winsted was finalized effective close of business on Oct. 31. Since 1963, Winsted has been a worldwide leader in control room console solutions. Owned and operated by the Hoska family since its inception, Winsted has worked to create attractive, ergonomic control room consoles and command centers that improve operator comfort and optimize efficiency. “Our philosophy aligned with Pathfinder’s so well, that it confirmed this was the right decision for Winsted to move forward as a company,” said Steve Hoska, former Winsted owner. “We trust the Pathfinder team to support the best long-term interest of the company.” Under the acquisition:

• Jack Cardwell is introduced as Winsted’s new CEO. Prior to joining Winsted, Cardwell served at 3M for 27 years, most recently in the role of VP of Marketing and Sales Operations.
• Randy Smith will continue as President. Smith and Cardwell will be part of the new ownership group and will work closely together to lead Winsted’s executive team.
• Winsted operations will remain unchanged as they continue to provide the highest level of quality consoles and customer service.

“We would like to express our thanks to Steve Hoska and his family, said Jack Helms, Partner, Pathfinder Companies. “The commitment and efforts of the Winsted team enabled the company to become a market leader and now represent what we believe to be an exciting opportunity for us.” “Thanks to the Hoska family’s tremendous leadership and the team of committed employees, Winsted is a proud leader in the control room industry. We are excited for what this next chapter will bring and pledge to continue to build and support the Hoska family legacy,” shared Randy Smith, President of Winsted. About Winsted Winsted is a worldwide leader in control room console solutions. Since 1963, Winsted has consistently been a pioneer in product design and development. Product concepts and designs are driven by industry needs and demands, with many products suggested by customers and developed with their input. Winsted’s modular system approach has become an industry standard for all markets and their experience developing specialized customer products enables the company to offer console and technical furniture solutions for any application.