Tenex Capital Management Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Tenex Capital Management has acquired 5 companies. It has also invested in 7 others.

Tenex Capital Management’s most common sectors for investment aremachinery (11%) and manufacturing (11%) . The Firm’s most common investment types include growth capital (34%) and secondary buyout (31%). In total, Tenex Capital Management has invested in 18 US states and 2 different countries.

In the last 3 years, Tenex Capital Management has exited 6 companies. The Firm’s most common exit type is secondary buyout (47%). Tenex Capital Management’s largest (disclosed) exit occurred in 2021 when it sold Custom Molded Products for $245M.

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M&A Summary

  • M&A Total Activity53
    • M&A Buy Activity38
    • M&A Sell Activity15
  • Total Sectors Invested 17
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 19
  • M&A Advisors 4

Tenex Capital Management

60 E 42 St. Suite 5230,
New York, New York 10165
United States
(212) 457-1138
www.tenexcm.com

Tenex Capital Management is a private investment group focused on acquiring control positions North American companies. The Firm does not have any sector preferences and looks to commit up to $100 million per transaction. Tenex Capital Management was formed in 1999 and is based in New York City.


Investment Criteria

Sectors of Interest: Building Materials, Distribution, Healthcare Services, Machinery, Manufacturing, Packaging, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Secondary Buyout, Add-on Acquisition

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - 100
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (3.0/yr) # 23 3 4 3 4 1 38
Sell (1.6/yr) # 7 2 - 1 3 2 15
vol $245M $245M
  53

Most Recent M&A

Company Date Value Type
SES Foam LLC 2022-08-02 - Trade Sale - Public Company
Spring, Texas · www.sesfoam.com
Oliver, Inc. 2022-07-08 - Secondary Buyout
Twinsburg, Ohio · www.oliverinc.com
Auto Vehicle Parts LLC 2022-05-09 - Secondary Buyout
Cold Spring, Kentucky · www.auveco.com
Black Diamond Networks, Inc. 2021-12-07 - Growth Capital
Andover, Massachusetts · www.blackdiamondnet.com
Suited Connector LLC 2021-12-02 - Growth Capital
Englewood, Colorado · www.suitedconnector.com
Empire Auto Parts LLC 2021-11-18 - Secondary Buyout
Totowa, New Jersey · www.empireauto.biz
BELAY Solutions 2021-07-15 - Growth Capital
Atlanta, Georgia · www.belaysolutions.com
The Wolf Organization LLC 2021-06-29 - Add-on Acquisition
York, Pennsylvania · www.wolfhomeproducts.com
JTM Foods LLC 2021-05-26 - Secondary Buyout
Erie, Pennsylvania · www.jjsbakery.net
Custom Molded Products LLC 2021-03-10 245M USD Add-on Acquisition
Newnan, Georgia · www.c-m-p.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Compass Health Brands 2013-07-19 Garden City Medical, Inc. (dba PMI and Pinnacle Medsource) 2016-09-30 6
Middleburg Heights, Ohio · www.roscoemedical.com Elyria, Ohio
Compass Health Brands 2013-07-19 ENDEVR - STRENGTHTAPE Brand & Assets 2016-04-25 5
Middleburg Heights, Ohio · www.roscoemedical.com Saint George, Utah
Compass Health Brands 2013-07-19 Carex Health Brands, Inc. 2014-03-27 4
Middleburg Heights, Ohio · www.roscoemedical.com Sioux Falls, South Dakota · www.carex.com
Arnold Transportation Services,Inc. 2011-06-01 LinkAmerica Corp. 2012-12-06 1
Jacksonville, Florida · www.arnoldtrans.com Tulsa, Oklahoma · www.lkam.com

M&A by Sector

Sector Current # Value All-time # Value
Machinery 1 (4%) - 4 (10%) -
Manufacturing 4 (17%) - 4 (10%) -
Packaging 3 (13%) - 4 (10%) -
Staffing 2 (8%) - 4 (10%) -
Building Materials 1 (4%) - 3 (8%) -
Business Services 1 (4%) - 3 (8%) -
Distribution 1 (4%) - 3 (8%) -
Healthcare Services 2 (8%) - 2 (5%) -
Marketing 2 (8%) - 2 (5%) -
Medical Products 2 (8%) - 2 (5%) -
Transportation 1 (4%) - 2 (5%) -
Aerospace 1 (4%) - 1 (3%) -
Automotive - - 1 (3%) -
Consumer Products 1 (4%) - 1 (3%) -
Food 1 (4%) - 1 (3%) -
Plastics - - 1 (3%) -
Safety/Security 1 (4%) - 1 (3%) -
Total 24 - 39 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 23 (96%) - 38 (97%) -
  Florida 4 (17%) - 5 (13%) -
  Illinois 3 (13%) - 3 (8%) -
  Texas 2 (8%) - 3 (8%) -
  Pennsylvania 2 (8%) - 3 (8%) -
  North Carolina 2 (8%) - 3 (8%) -
  Michigan 1 (4%) - 3 (8%) -
  Nebraska - - 3 (8%) -
  Ohio 2 (8%) - 2 (5%) -
  Massachusetts 2 (8%) - 2 (5%) -
  Indiana 1 (4%) - 2 (5%) -
  Georgia 1 (4%) - 2 (5%) -
  New Mexico 1 (4%) - 1 (3%) -
  Colorado 1 (4%) - 1 (3%) -
  Arizona 1 (4%) - 1 (3%) -
  Tennessee - - 1 (3%) -
  Oklahoma - - 1 (3%) -
  New Jersey - - 1 (3%) -
  Kentucky - - 1 (3%) -
Switzerland 1 (4%) - 1 (3%) -
Total 24 - 39 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 9 (38%) - 13 (33%) -
Secondary Buyout 6 (25%) - 12 (31%) -
Divestiture 5 (21%) - 5 (13%) -
Buyout (LBO, MBO, MBI) 1 (4%) - 4 (10%) -
Recapitalization 3 (13%) - 4 (10%) -
Consolidation - - 1 (3%) -
Total 24 - 39 -

Exits by Deal Type

Type Total # Value
Secondary Sale 7 (47%) -
Trade Sale - Public Company 2 (13%) 245M (100%)
Merger 2 (13%) -
Trade Sale 2 (13%) -
Recapitalization 1 (7%) -
Unknown 1 (7%) -
Total 15 $245M

Top M&A Advisors

Financial Deals
Lincoln International
 2
Duff & Phelps Corp.
 1
Fidus Partners LLC
 1
Legal Deals
Troutman Pepper Hamilton Sanders LLP
 1

Deal Values

sell # Total
$100M to $1B 1 $245M
TOTAL $245M
Largest Custom Molded Products LLC
$245M (2021-03-10)

M&A Connections

Deals
Acquired from
Investor(s)
33%
13 (33%)
Strategic(s)
13%
5 (13%)
Exited to
Investor(s)
53%
8 (53%)
Strategic(s)
33%
5 (33%)

Investor Summary

Investor Type

Private Equity Firm

Size

Small

Established

1999

Specialist/Generalist

Generalist

Leadership

Michael Green

CEO & Managing Director, Operations

Varun Bedi

Managing Director, Investments

Ben Kramer

CFO & CCO

Gabriel Wood

Managing Director, Investments

Perrin Monroe

Managing Director, Investments

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