N.H. Yates, Inc. Announces Ownership Transition

To our Employees, our Customers, and our Vendor Partners,

I am pleased to announce the long-planned ownership transition of N.H. Yates, Inc. has been completed. Effective August 23, 2018, the ownership of N.H. Yates, Inc. has transitioned from Jim Yates Jr. and Jon Thomas to Jon Thomas and Dan Kelbaugh. Since 1949, this represents only the fourth change in majority ownership with the last taking place in 1996.

Our mutual goal for many years has been to make this major event seamless for everyone associated with our business. For the last few years, short and long-term decisions about all aspects of our business have been guided by the knowledge of this transition to ensure stability, continuity, and a culture of continuous improvement. As a result, many internal changes have already taken place that would normally follow an ownership change. While JR is stepping away from an ownership position, he will remain employed and active primarily within the commercial arena of our business to provide continued success through training and mentoring.

Dan and I maintain a great deal of respect for the history of N.H. Yates, Inc and are very proud of the company we have today. We are committed to carrying on the long-standing Yates legacy of representing outstanding manufactures, providing excellent customer service, top-notch training and development, superior employees and an unrelenting pursuit of continuous improvement for growth now and well into the future.

Yours Respectfully,

Jon Thomas

President