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News Title June 24, 2024

NEW YORK, June 24, 2024 (GLOBE NEWSWIRE) — Ƶ Industries Incorporated (together with its subsidiaries, collectively referred to as “Ƶ” “we,” “us” or “our”) (NYSE: Ƶ), a leading provider of facility solutions, today announced it has acquired Quality Uptime Services, Inc. (“Quality Uptime”), a prominent player in the critical power services industry for an all-cash purchase price of $119 million.

Quality Uptime, headquartered in Bethel, CT, is a leading independent uninterrupted power supply system (“UPS”) maintenance and UPS battery maintenance company providing customized preventive and emergency service programs for mission-critical data centers and other facilities nationwide. Quality Uptime and its more than 130 employees will become part of Ƶ’s Mission Critical Solutions group within its Technical Solutions segment. Quality Uptime will initially maintain its brand identity while leveraging Ƶ’s resources and expertise in electrification infrastructure and microgrids to enhance its services and reach new customers.

With the addition of Quality Uptime, Ƶ’s Mission Critical Solutions group will offer comprehensive and complementary critical infrastructure solutions for data centers and similar crucial facilities, including electrical testing (NETA), electrical switchgear maintenance, breaker testing, UPS service and maintenance, and battery and power distribution unit service and maintenance. These services complement Ƶ’s existing robust offerings in microgrid design and construction services, critical cooling, technical project management, facility engineering and cleaning services, resulting in a self-performance model that is an industry leader.

“The acquisition of Quality Uptime is expected to double Ƶ’s mission critical-related revenue in the first full year of ownership, driven by the surge in artificial intelligence and related investments in data center infrastructure,” said Scott Salmirs, President and Chief Executive Officer of Ƶ. “Consistent with our ELEVATE strategy, we believe this investment positions Ƶ to further participate in the long-term proliferation of data centers, which already represents a multi-billion-dollar market. The addition of Quality Uptime aligns with our vision to drive innovation and deliver comprehensive solutions to our clients, and we are excited to welcome their CEO John Raio and this talented and experienced team to Ƶ.”

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