TRICORBRAUN APPOINTS KEVIN WEADICK AS PRESIDENT AND CEO

COURT CARRUTHERS TO BECOME VICE CHAIR

ST. LOUIS, April 22, 2025 /PRNewswire/ -- Global packaging leader TricorBraun today announced the appointment of Kevin Weadick as President and Chief Executive Officer, effective May 5, 2025. Weadick will lead TricorBraun's global operations, reinforcing the company's strategic vision and priorities while driving business performance and a continued focus on innovation and growth. Weadick succeeds Court Carruthers, who is retiring after eight years as CEO. Carruthers will serve as Vice Chair, remaining on the board to provide continuity and support for the company's continued success.

"We are pleased to welcome Kevin as the new CEO of TricorBraun," said Keith Strope, Executive Chairman. "Kevin's extensive experience and demonstrated track record in leading high-growth businesses will be invaluable as we continue to drive our global strategy forward. His strong leadership and supply chain expertise across multiple distribution businesses aligns with our aggressive growth goals and commitment to providing superior service to our customers. I also want to thank Court for his remarkable contributions to the growth of the company for the last eight years and look forward to continuing to serve together on the board."

Weadick was most recently CEO for FleetPride, one of North America's largest distributors of aftermarket truck and trailer parts. Prior to FleetPride, he held numerous global leadership roles across North America and Europe with Grainger, most recently as President of Zoro, Grainger's fast-growing, technology-enabled supply business focused on small and medium customers across North America. He is a graduate of the University of Wisconsin who began his career with PwC. Weadick is a Chicago native and will be based out of the company's Design and Engineering Studio in Oakbrook Terrace, Illinois.

"I'm honored to join TricorBraun at such an exciting time in the company's journey," said Weadick. "This business has a proud legacy, a strong culture, and an incredibly talented team. As we look ahead, my focus will be to build on the great momentum already in place to drive strong, sustainable growth, deliver exceptional service to our customers, and keep investing in the development of the best team in packaging. I'm energized by the opportunities ahead and excited to work alongside this team to shape the next chapter of growth and innovation for our team members and investors."

Carruthers, who was appointed President and CEO in 2017, has led the TricorBraun team to achieve many milestones: tripling revenue and EBITDA; completing 30 acquisitions; expanding throughout Europe and Asia Pacific; entering new sectors such as aluminum cans, industrial containers, and flexible packaging; and completing the sale of the company from AEA Investors to Ares Private Equity funds ("Ares") and Ontario Teachers' Pension Plan ("Ontario Teachers'") in 2021. AEA remains a minority investor today. Most importantly, Carruthers leaves an important mark on the company's service-driven culture that has been the foundation of TricorBraun's success for nearly 125 years.

Carruthers remarked, "It has been a privilege to serve alongside such an exceptional and dedicated group of 2,300 TricorBraun team members these last eight years. I am incredibly proud of what we have accomplished together and even more excited about what the future holds for the company. I have had the pleasure of knowing Kevin for more than 15 years and look forward to supporting him and the entire TricorBraun team on this important next stage of the journey."

Natasha Li, Partner, Ares and Ashfaq Qadri, Managing Director, Ontario Teachers' added, "We are grateful to Court for his exceptional leadership over the past eight years. Under his guidance, the company achieved remarkable growth organically and through strategic acquisitions, significantly expanded EBITDA, and, just as importantly, made meaningful investments in its people, culture and systems. His partnership has been instrumental in building a strong foundation for continued success, and we thank him for his dedication and impact. We are equally excited to welcome Kevin to the team as he leverages his significant global distribution experience to continue growing TricorBraun around the world."

About TricorBraun
Founded in 1902, TricorBraun is a global packaging leader. We leverage our global scale, comprehensive scope, and unparalleled expertise to solve customers' complex packaging problems and help them win in the marketplace. TricorBraun is comprised of more than 2,300 packaging professionals operating from more than 100 locations across the Americas, Europe, Asia, and Australia. TricorBraun is a portfolio company of Ares, Ontario Teachers' Pension Plan and AEA Investors.

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