Privet Fund and UPG Enterprises Believe Synalloy’s Last-Minute Governance Maneuver Reinforces the Need for the Substantial Change Offered on the WHITE Proxy Card

ATLANTA & CHICAGO--(BUSINESS WIRE)--Privet Fund Management LLC (together with its affiliates, "Privet") and UPG Enterprises LLC (together with its affiliates, “UPG” and collectively with Privet, the "Stockholder Group" or “we” or “us”), which collectively own approximately 24.9% of the outstanding common stock of Synalloy Corporation (NASDAQ: SYNL) (“Synalloy” or the "Company"), today commented on Synalloy’s eleventh-hour rescindment of the limited duration stockholder rights plan unanimously authorized by its eight-member Board of Directors (the “Board”) roughly three months ago. As a reminder, Privet and UPG have nominated five highly-qualified and independent candidates – Andee Harris, Chris Hutter, Aldo Mazzaferro, Ben Rosenzweig and John Schauerman – for election to the Company’s Board at the 2020 Annual Meeting of Stockholders (the “Annual Meeting”) scheduled to be held on June 30, 2020.