M&A Deal Summary

Tenex Capital Management Acquires GreenFiber

On December 16, 2013, private equity firm Tenex Capital Management acquired building materials company GreenFiber from Casella and Louisiana-Pacific

Acquisition Highlights
  • This is Tenex Capital Management’s 1st transaction in the Building Materials sector.
  • This is Tenex Capital Management’s 9th transaction in the United States.
  • This is Tenex Capital Management’s 1st transaction in North Carolina.
Investment Fate
  • GreenFiber was sold to a strategic buyer in 2022.

M&A Deal Summary

Date 2013-12-16
Target GreenFiber
Sector Building Materials
Buyer(s) Tenex Capital Management
Sellers(s) Casella
Louisiana-Pacific
Deal Type Divestiture

Target

GreenFiber

Charlotte, North Carolina, United States
website
GreenFiber manufactures natural fiber insulation, fire, and sound products. GreenFiber offers insulation, sidewall nozzle, sidewall insulation plugs, insulation blowing machines, coverage charts, installation guides, banners, cocoon insulation, and fire protection and sound-isolating products. GreenFiber was founded in 2000 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer
DESCRIPTION

Tenex Capital Management is a private investment group focused on acquiring control positions in profitable North American companies with $3 to $40 million of EBITDA. The Firm does not have any sector preferences and looks to commit up to $125 million per transaction. Tenex Capital Management was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 9 of 42
Sector (Building Materials) 1 of 3
Type (Divestiture) 3 of 5
State (North Carolina) 1 of 2
Country (United States) 9 of 42
Year (2013) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-08 JPW Industries

LaVergne, Tennessee, United States

JPW Industries is a designer, manufacturer and value-added distributor of market-leading, branded machinery, specialty shop tools and equipment for rugged applications across multiple end markets. JPW Industries was founded in 1958 and is based in LaVergne, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-02 Carlson Systems Holdings

Omaha, Nebraska, United States

Carlson Systems, LLC is a multi-regional distributor of product assembly systems serving the fastening and packaging needs of construction, industrial and OEM customers, with products such as hand-held nailers, staplers, tapers, marking and labeling products, stretch/shrink wrappers, and strappers.

Buy -

Seller(S) 2

SELLER

Casella

Rutland, Vermont, United States

website


Category Company
Founded 1975
Sector Environmental
Employees3,200
Revenue 1.1B USD (2022)
DESCRIPTION

Casella is a regional, integrated solid waste services company, operating primarily throughout the eastern portion of the United States and parts of Canada. Casella Waste Systems provides collection, transfer, disposal and recycling services, generation of electricity and steam and the manufacture of finished products utilizing recyclable materials. Casella was incorporated in 1975 and is based in Rutland, Vermont.


DEAL STATS #
Overall 1 of 1
Sector (Building Materials) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-06 Bestway Disposal Services

Brentwood, New Hampshire, United States

Bestway Disposal Services, Inc. offers waste disposal and recycling services. Company operates a portable toilet service and supplies roll-off containers to contractors and individuals.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-24 A Greener Solution

Zion, Illinois, United States

A Greener Solution offers by-product management consultation and program management services, which include offering comprehensive recycling, landfill alternatives and environmental management services, to redirect waste - solid, hazardous, non-hazardous, universal, e-waste and sludge.

Buy -
SELLER

Louisiana-Pacific

Nashville, Tennessee, United States

website


Category Company
Founded 1972
Sector Building Materials
Employees4,800
Revenue 4.6B USD (2021)
DESCRIPTION

Louisiana-Pacific is a manufacturer of quality engineered wood building materials including OSB, structural framing products, and exterior siding for use in residential, industrial and light commercial construction. From manufacturing facilities in the U.S., Canada, Chile and Brazil, LP products are sold to builders and homeowners through building materials distributors and dealers and retail home centers. Louisiana-Pacific was founded in 1972 and is based in Nashville, Tennessee.


DEAL STATS #
Overall 2 of 3
Sector (Building Materials) 1 of 2
Type (Divestiture) 2 of 3
State (North Carolina) 1 of 1
Country (United States) 2 of 2
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-28 Peace Valley Oriented Strand Board Mill

Fort St. John, British Columbia, Canada

The Peace Valley mill has an annual production capacity of 820 million square feet of OSB. It currently operates three shifts with plans to add a fourth shift in the first quarter of 2013 depending on market conditions.

Buy CA$75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 International Barrier Technology

Watkins, Minnesota, United States

International Barrier Technology, Inc. is a manufacturer, marketer and seller of fire resistant building materials for industrial and residential sectors. International Barrier Technology, Inc. was established in 1986 and is based in Watkins, Minnesota.

Buy $22M