Wincove Recapitalizes USBid, Inc.

PALM BAY, FL – November 3, 2022 – Wincove Private Holdings, LP (“Wincove”) announced today that it has recapitalized USBid, Inc. (“USBid” or the “Company”).

USBid is a value-added distributor of “hard-to-find” and “end-of-life” electronic and hardware components for the aerospace, defense, industrial, medical and telecom industries. The Company leverages its proprietary sourcing technology and in-house testing laboratory to solve OEM customers’ most challenging procurement needs. Wincove has partnered with founders Gary Heyes and Jerome Pepin, who will continue to be meaningful owners of the Company, but transition day-to-day leadership to Matt McIntosh. Most recently, Matt was CEO of Xcentric Mold and Engineering, a leading provider of rapid manufacturing services. Sean Bielat, an Executive Partner at Wincove, will serve as Executive Chairman of the Company.

John Lenahan, Partner at Wincove, stated, “Gary and Jerome have built a differentiated procurement solutions business that delivers a strong value proposition to its customers. We are eager to invest in the Company’s continued growth, including expanding testing services and deepening customer relationships.”

Gary Heyes added, “Jerome and I are confident that Wincove is the right partner for the Company’s next growth phase. We’re excited to have the opportunity to continue to support USBid and its customers.”

About USBid, Inc.

USBid is a value-added distributor of “hard-to-find” and “end-of-life” electronic and hardware components for the aerospace, defense, industrial, medical and telecom industries. The Company leverages its proprietary sourcing technology and in-house testing laboratory to solve OEM customers’ most challenging procurement needs. Founded in 1998, USBid is headquartered in Palm Bay, FL. For more information, please visit www.usbid.com.

About Wincove Private Holdings, LP

Wincove Private Holdings is an investment company that creates long-term capital appreciation for its shareholders by partnering with business owners, entrepreneurs, and management teams to build market-leading companies. Based in in Boston, Wincove has a permanent capital base, and can stay invested in its partner companies for an unlimited time. For more information, please visit www.wincove.com.