Macquarie Asset Management, along with co-investors including UniSuper, has entered into an agreement to acquire a majority stake in SI Solutions (“SI”), a leading provider of structural integrity engineering, testing and software solutions to critical infrastructure owners and operators, from MidOcean Partners (“MidOcean”), a private equity fund. The transaction is expected to close in Fall 2026, subject to regulatory approvals and customary closing conditions. This investment follows a Macquarie Asset Management strategy to invest in high quality, stable businesses that provide critical services, products and technologies to infrastructure end-markets.

SI’s deep expertise in structural integrity was first developed serving the power generation sector, where safety and reliability are critical, and now extends across a broad range of markets including nuclear, gas power, pipeline, petrochemical, civil and industrial. Headquartered in Huntersville, North Carolina, SI operates from 16 locations, five of which include testing laboratories, and currently supports more than 330 clients.

The company determines whether critical, high-consequence assets are safe, compliant and fit for continued service. Its engineers and technicians evaluate remaining useful life through stress, fatigue and materials analysis, diagnose the root cause of equipment and system performance issues, and apply that expertise across the full asset lifecycle, from design and construction through operation and life extension. This work is backed by advanced non-destructive evaluation (“NDE”), laboratory testing and failure analysis, and asset management software.

The platform was built by integrating specialist firms with long-established technical track records, letting SI apply its combined engineering, testing, and software capabilities across a diverse client base.

Macquarie Asset Management sees significant growth opportunity for SI driven by structural tailwinds across the infrastructure sector, particularly in the power generation markets in which SI specializes.

Executive Commentary

Andrew Olinick, Senior Managing Director at Macquarie Asset Management

“SI is a highly regarded industry leader with a strong track record of serving many of the largest utilities, who seek out SI for their most challenging structural integrity problems. SI’s specialization in the power generation markets is a strong fit for our strategy.”

Alec Rubenstein, Managing Director at Macquarie Asset Management

“SI embodies several of our highest conviction investment themes, including the convergence of energy and digital infrastructure, the need to keep aging critical infrastructure safe and in service, and the role of clean, reliable power generation such as nuclear. We see significant opportunities to accelerate growth by leveraging our deep industry expertise and network, and we are excited to support SI in its next phase of expansion.”

Mark W. Marano, President and CEO of SI Solutions

“We are pleased to partner with Macquarie Asset Management and their co-investors. Their deep sector expertise and long-term investment approach are an ideal fit for SI. We look forward to working with them on the next phase of our growth story as we capitalize on the momentum in the nuclear and gas power markets to further our leadership position in structural integrity.”

Sandra Lee, Head of Private Markets at UniSuper

“SI offers a compelling opportunity to deliver long-term value for our members while supporting the critical infrastructure that underpins reliable power generation. We are pleased to deepen our partnership with Macquarie Asset Management and invest in a proven, high-quality business with specialized capabilities that keep essential energy assets safe, compliant and operating at the highest standards.”

About Macquarie Asset Management

Macquarie Asset Management (MAM) is a leading global asset manager, trusted by institutions, individuals and communities to responsibly manage US$498 billion in assets. MAM provides clients with a diverse range of investment solutions that seek to deliver superior risk-adjusted returns.

Macquarie Asset Management is part of Macquarie Group, a diversified global financial services group operating in asset management, retail and business banking, wealth management, as well as advisory, and risk and capital solutions across debt, equity, financial markets and commodities. Founded in 1969, Macquarie Group employs over 19,100 people in 30 markets and is listed on the Australian Securities Exchange.

All figures as at 31 March 2026.

About UniSuper

UniSuper is one of Australia’s largest superannuation funds and is run for the benefit of its members. For over forty years, UniSuper has been managing super for people employed in the higher education and research sector, and as of 2021 opened the fund to all Australians. UniSuper currently invests approximately A$175 billion on behalf of approximately 688,000 members^. Its $20 billion private markets portfolio includes high‑quality direct investments across transport and logistics, digital infrastructure, healthcare, essential services and sustainable real assets. For more information, please visit https://www.unisuper.com.au/

^ As of June 2026

Important Notices (Macquarie Asset Management): None of the entities noted in this media release is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (Macquarie Bank). Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, if this media release relates to an investment (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.

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