Privet Fund and UPG Enterprises Issue Letter to Stockholders Reinforcing the Need to Reconstitute a Majority of the Board at Synalloy’s Annual Meeting

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 issued the below open letter in connection with its nomination of five highly-qualified and independent candidates – Andee Harris, Chris Hutter, Aldo Mazzaferro, Ben Rosenzweig and John Schauerman – for election to Synalloy’s Board of Directors at the upcoming Annual Meeting of Stockholders scheduled to be held on June 30, 2020. We urge all stockholders seeking to protect and enhance the value of their investment to vote on the WHITE Proxy Card. Stockholders can review all of the facts pertaining to Privet, UPG, our nominees, and their strategy for delivering up to $25 per share in near-term value and repositioning the Company for long-term success at www.StrengthenSynalloy.com.