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  <url>
    <loc>https://www.roninequitypartners.com/about-us</loc>
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  <url>
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    <lastmod>2025-06-16</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/1e718c18-d4cc-43b2-8170-1e4c12e2b678/David+Feierstein</image:loc>
      <image:title>Meet the Team</image:title>
      <image:caption>David Feierstein | Managing Partner</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/1710075c-113d-457d-a8a3-c32dec40ccdc/JY+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Meet the Team</image:title>
      <image:caption>Jesse Yao | Managing Partner</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/03c5bf24-50d6-4273-9b3d-3fe2f8480a59/YC+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Meet the Team</image:title>
      <image:caption>Yang Chen | Partner</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/e2875baa-82c5-46f3-946a-12a378bf2551/JB+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Meet the Team</image:title>
      <image:caption>Jack Burke | Principal</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/998ae391-6a12-421b-8024-1c54b9ed5c02/ER+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Meet the Team</image:title>
      <image:caption>Elliott Rogasik | Principal</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/090bc100-5432-4709-9222-017c9d8fad63/PM+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Meet the Team - Make it stand out</image:title>
      <image:caption>Patrick Merrick | Vice President</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/ad7ea4f2-3ba5-4d8a-8641-c12ab971c530/LL+Headshot.jpg</image:loc>
      <image:title>Meet the Team - Make it stand out</image:title>
      <image:caption>Leo Lin | Associate</image:caption>
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  <url>
    <loc>https://www.roninequitypartners.com/home</loc>
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    <lastmod>2025-09-15</lastmod>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/david-feierstein</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2021-09-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/1584724635855-IL1E703XZ9E3MN5O0Y3E/0-2.png</image:loc>
      <image:title>David Feierstein - David Feierstein</image:title>
      <image:caption>David is a Co-Founder and Managing Partner of Ronin Equity Partners. Before he formed Ronin, David was the Head of the Transformation Office at Diversey, the second largest industrial cleaning business in the world, joining the team as part of its purchase by Bain Capital. There, he oversaw the value creation of the transaction in cost management, organizational excellence, and cash flow optimization. Prior to Diversey, David led the Transformation Office at NCR Corporation, a provider of hardware, software, and technology services to the financial sector, coming on board through Blackstone’s investment in the business. David’s time at NCR was preceded by his tenure leading Global Zero-Based Budgeting, Capital Investment, and Working Capital at Heinz and Kraft Heinz as part of 3G Capital and Berkshire Hathaway’s purchase of these businesses. He was instrumental in the Kraft integration and Heinz transformation, delivering $2.0 billion in cost savings during his time there. David previously worked at Goldman Sachs Capital Partners, the private equity arm of Goldman Sachs, and began his career at J.P. Morgan’s Investment Bank in the Merger &amp; Acquisitions and Natural Resources groups. David graduated salutatorian and summa cum laude from Bentley University with a B.A. in Corporate Finance &amp; Accounting. He continues to serve as an advisor to Fortune 500 companies, senior executives, private equity firms and investors on the topic of zero-based budgeting and business transformation in the areas of finance, IT, HR organizational design and commercial pricing. Email David</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/jesse-yao</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2023-05-12</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/dabbde8a-f3fa-4a83-a2e0-3d0522d01ef3/JY+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Jesse Yao - Jesse Yao</image:title>
      <image:caption>Jesse is a Co-Founder and Managing Partner of Ronin Equity Partners. He is involved with all areas of Ronin’s business in addition to overseeing the firm’s financial operations.  Jesse has over a decade of experience delivering value for private equity investors, including a broad range of advisory work from cost diligence to post acquisition execution. At Ronin, he co-leads the overall strategy and direction of the firm.  Previously, Jesse has served as a cost transformation advisor to Bain Capital for their acquisition of Diversey. He was also a senior executive during Blackstone's investment in NCR, where he helped implement Ronin's "modern-day" approach to zero-based budgeting. Prior to NCR, Jesse worked with 3G Capital at Heinz, and subsequently Kraft Heinz, in various senior leadership roles including his responsibility for the Kraft-Heinz merger and associated cost synergies, his time as CFO of the Sauces &amp; Frozen business unit and his position of Global Head of Supply Chain Finance. Before his time in private equity, Jesse was an associate at J.P. Morgan Investment Bank in the Telecom, Media, Telecom (TMT) and Natural Resources groups. Jesse received a B.S. and M.Eng. in electrical engineering from Cornell University and an M.B.A. with distinction from Yale University. Email Jesse</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/investment-approach</loc>
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    <lastmod>2023-11-03</lastmod>
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      <image:title>Investment Approach</image:title>
    </image:image>
    <image:image>
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      <image:title>Investment Approach</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/1585076435968-26BD0M4L29QF5B1HHNIO/icon+set-02.png</image:loc>
      <image:title>Investment Approach</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/1585076445071-F3NBA869ARRDVNYUG0G3/icon+set-04.png</image:loc>
      <image:title>Investment Approach</image:title>
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  </url>
  <url>
    <loc>https://www.roninequitypartners.com/yang-chen</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2023-05-12</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/3760b2a5-18b7-4623-a0c9-8bf1f2e74ac7/YC+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Yang Chen - Yang Chen</image:title>
      <image:caption>Yang is a Partner at Ronin Equity Partners.  Prior to Ronin, Yang was a member of the Transformation Office at Diversey, where she drove cost optimization and process improvement globally across the organization. She also helped the North America sales organization develop commercial pricing visibility, discipline and strategy to drive profitable topline growth. In addition to her work at Diversey, Yang held a leadership role in the US FP&amp;A team at Kraft Heinz, focusing on driving P&amp;L visibility, analytics and data-based decision making. Yang began her career at Ernst &amp; Young in the Transaction Advisory Services team, where she advised clients across multiple industries on the valuation of businesses, legal entities and various assets and liabilities.   Yang holds a M.S. degree in Finance from the Simon Business School, University of Rochester, and received a B.S. in Economics from University of Pittsburgh.   Email Yang</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/jack-burke</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-04-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/b2bde403-9fe9-486c-bd5a-892f0f61fd1d/JB+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Jack Burke - Jack Burke</image:title>
      <image:caption>Jack is a Principal at Ronin Equity Partners. Prior to Ronin, Jack held a number of investment roles at BlackRock. He served as a Portfolio Manager, leading illiquid investments across private equity, private credit, and hedge funds. Before that, he was a member of the Special Situations Investment Team, where he focused on complex M&amp;A transactions, asset allocation, and illiquid and distressed investment opportunities for institutional clients. Jack received a B.A. in Business from the University of Michigan. Email Jack</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/heartisanfoods</loc>
    <changefreq>daily</changefreq>
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    <lastmod>2025-06-09</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/1622811018609-3HAXCIQXV5KV3PPMR09L/unsplash-image-MQyCrJVFG8U.jpg</image:loc>
      <image:title>Heartisan Foods - Founded in 1991, Heartisan is an omni-channel market leader in smoked, flavored, and kosher all-natural cheese. With roots in both Wisconsin’s dairyland and New England, Heartisan brings time-honored cheesemaking traditions to each piece of cheese using decades of family experience. Heartisan utilizes a slow, meticulous, cold-smoking process with specially aged apple pulp and hardwood to create the perfect cheese.</image:title>
      <image:caption>Heartisan Foods includes Red Apple Cheese, a retailer of premium smoked and flavored cheeses, Barron County Cheese, a smoker and co-packer for the specialty chees industry, and Cheese Brothers, an innovative direct to consumer eCommerce specialty cheese business. https://www.redapplecheese.com/</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/duenorth</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-06-07</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/1630979193332-T5DQPZ8UVXJOA0SGB6AG/unsplash-image-Db4Sj51Y8Yk.jpg</image:loc>
      <image:title>Due North - Due North is a market leader in the refrigerated display market, with product offerings across the pet food, beverage, micro markets, and food sectors. The company leverages Internet of Things technology and its green cooling deck design to deliver a better total cost of ownership and superior product presentation for its customers.</image:title>
      <image:caption>Ronin acquired QBD and Minus Forty simultaneously to create the #2 player in the North American refrigerated display market. The merged group will continue to make acquisitions in the U.S., Europe and Latin America https://duenorth.com/</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/operating-partners</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-10-10</lastmod>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/elliott-rogasik</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-04-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/58ecff6c-8999-4b07-953b-6d75a57ce70d/ER+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Elliott Rogasik - Elliott Rogasik</image:title>
      <image:caption>Elliott is an Principal at Ronin Equity Partners. Prior to Ronin, Elliott held a number of investment roles at BlackRock. He served as a Portfolio Manager, leading illiquid investments across private equity, private credit, and hedge funds. Before that, he was a member of the Special Situations Investment Team, where he focused on complex M&amp;A transactions, asset allocation, and illiquid and distressed investment opportunities for institutional clients. Elliott received a B.A. in Economics and Computer Science from McGill University. Email Elliott</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/engenuity-outdoor</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-06-07</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/25240aac-1269-47ec-8b8d-4daf1a9c2be5/DK2+Power.png</image:loc>
      <image:title>Engenuity Outdoor - Engenuity Outdoor Equipment is an industry leader with 5 unique product lines and hundreds of items distributed all over North America, specializing in outdoor power equipment, trailers, winches, snowplows, and auto accessories. Driven by innovation and excellent customer service, Engenuity Outdoor aims to deliver high-quality and dependable products to the hard-workers that need them.</image:title>
      <image:caption>Ronin created Engenuity Outdoor with the simultaneous acquisitions of DK2, Currahee Trailers, and SnowBear. https://engenuityoutdoor.com</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/patrick-merrick</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-04-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/518072b3-4326-48a1-8155-446fd811e689/PM+Headshot+%28cropped%29.jpg</image:loc>
      <image:title>Patrick Merrick - Patrick Merrick</image:title>
      <image:caption>Patrick is an Vice President at Ronin Equity Partners. Prior to Ronin, Patrick was an Investment Professional with Riveria Investment Group, where he focused on private equity and credit investments across the lower middle market. Patrick led Riveria’s sourcing, underwriting, and execution of new investments. Before that, Patrick worked in Permanent Control at Crédit Agricole where he focused on identifying, monitoring and managing operational risks. Patrick received a B.S. in Finance and Economics from New York University. Email Patrick</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/lotus</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-06-07</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/275dd5b1-1b59-4ad5-964e-1f218a993c65/GWK_home_equipment.png</image:loc>
      <image:title>Lotus Beverage Alliance - The Lotus Beverage Alliance was formed when six prominent craft beverage suppliers joined forces. By bringing together top brewery craft beverage equipment and technology suppliers across the industry, Lotus offers customers better resources, support, and value with each purchase. No matter what craft beverage you create, Lotus has a solution. Lo tus represents the merger of Alpha Brewing Operations, GW Kent, Twin Monkeys, Stout Tanks and Kettles, Brewmation and Automated Extractions.</image:title>
      <image:caption>https://lotusbevalliance.com/</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/leo-lin</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-04-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/0425cf6e-1a6b-4a46-845b-eb033e61da3e/LL+Headshot.jpg</image:loc>
      <image:title>Leo Lin - Leo Lin</image:title>
      <image:caption>Leo is an Associate at Ronin Equity Partners. Prior to Ronin, Leo was a Senior Consultant at KPMG where he led engagement delivery for multinational firms in private equity, real estate, and utilities. Leo worked on engagements to support due diligence on divestitures and carve out transactions, manage complex ownership structures, and optimize tax strategies. In addition, Leo is a CPA and has completed all three levels of the CFA program. Leo received a B.A. in Accounting and Financial Management and a Masters of Accounting from the University of Waterloo. Email Leo</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/operating-partners-1</loc>
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    <lastmod>2023-10-24</lastmod>
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  <url>
    <loc>https://www.roninequitypartners.com/aerospacemro</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2026-02-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/98626057-6eb3-4bf4-9102-b441f1436e13/Aircraft+MRO.jpg</image:loc>
      <image:title>AerospaceMRO - Griffin is a MRO business specializing in the repair and overhaul of commercial aircraft components. Customers include airlines, distributors, and other MRO facilities. Ronin has backed management to support the next phase of growth</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.roninequitypartners.com/utilityservices</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2026-02-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5e5963a620bcfd0679ae9a59/1d4008be-61ce-450f-a084-b2b9eb141ee5/cropped.jpg</image:loc>
      <image:title>Utility Services - Edison is a utility services provider specializing in the repair, maintenance, and construction of electrical distribution networks and substations. Its customer base includes investor-owned utilities, municipal utilities, and regional cooperatives. The company delivers top-tier service on both “blue sky” and event-response projects nationwide. Ronin Equity Partners has partnered with management to expand geographic coverage, further penetrate the blue sky market, broaden service offerings, and invest in professionalized systems, fleet asset growth, and comprehensive safety protocols.</image:title>
    </image:image>
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    <lastmod>2026-02-11</lastmod>
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