Tenex Capital Management Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Tenex Capital Management has acquired 1 company. It has also invested in 2 others.

Tenex Capital Management’s most common sectors for investment are machinery (16%) and manufacturing (16%). The Firm’s most common investment types include secondary buyout (36%) and growth capital (24%). In total, Tenex Capital Management has invested in 15 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2013 when it acquired US GreenFiber for $18M.

In the last 3 years, Tenex Capital Management has exited 6 companies. The Firm’s most common exit type is secondary buyout (30%).

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M&A Summary

  • M&A Total Activity34
    • M&A Buy Activity24
    • M&A Sell Activity10
  • Total Sectors Invested 12
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 11
  • M&A Advisors 3

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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.0/yr) # 14 7 1 - 2 - 24
vol $18M $18M
Sell (1.2/yr) # 4 - 3 3 - - 10
  34

Most Recent M&A

Company Date Value Type
The Wolf Organization LLC 2019-09-10 - Secondary Buyout
York, Pennsylvania · www.wolfhomeproducts.com
Big Bolt Corp. 2019-08-13 - Growth Capital
Bloomingdale, Illinois · www.bigbolt.net
BeneSys, Inc. 2018-10-10 - Unknown
Troy, Michigan · www.benesysinc.com
Brown Machine Group Holdings LLC 2018-10-09 - Secondary Buyout
Beaverton, Michigan · www.brownmachinegroup.com
Custom Molded Products LLC 2018-06-14 - Add-on Acquisition
Newnan, Georgia · www.c-m-p.com
Progressive Employer Services, Inc. (dba PEMCO America, Inc.) 2017-10-10 - Add-on Acquisition
Sarasota, Florida · www.progressiveemployer.com
Team Select Home Care 2017-10-05 - Growth Capital
Phoenix, Arizona · www.teamselecthh.com
JPW Industries, Inc. 2017-07-19 - Secondary Buyout
LaVergne, Tennessee · www.jpwindustries.com
Medical Solutions LLC 2017-05-08 - Secondary Buyout
Omaha, Nebraska · www.medicalsolutions.com
Custom Molded Products LLC 2016-12-30 - Secondary Buyout
Newnan, Georgia · www.c-m-p.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
The Wolf Organization LLC 2019-09-10 CarstinBrands.com 2020-01-15 1
York, Pennsylvania · www.wolfhomeproducts.com Arthur, Illinois · www.carstinbrands.com
Fairmont Supply Co. 2015-02-03 THB, Inc. 2018-01-12 1
Canonsburg, Pennsylvania · www.fairmontsupply.com North Salt Lake, Utah · www.thb-inc.net
US GreenFiber LLC 2013-12-05 Central Fiber LLC 2015-09-25 2
Charlotte, North Carolina · www.greenfiber.com Wellsville, Kansas · www.centralfiber.com
US GreenFiber LLC 2013-12-05 Thermo-Cell Industries Ltd. 2015-06-10 1
Charlotte, North Carolina · www.greenfiber.com Vars, Ontario · www.thermocell.com
Roscoe Medical, Inc. 2013-07-19 Carex Health Brands, Inc. 2014-03-27 2
Strongsville, Ohio · www.roscoemedical.com Sioux Falls, South Dakota · www.carex.com
Roscoe Medical, Inc. 2013-07-19 Revolution Mobility, LLC 2014-01-28 1
Strongsville, Ohio · www.roscoemedical.com Ontario, California · www.revolutionmobility.com
Rush-Overland Manufacturing, Inc. 2012-12-11 Cobra Manufacturing & Sales 2013-01-01 1
Odessa, Texas · www.rushoverland.com Cheyenne Wells, Colorado
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 (7%) - 4 (16%) -
Manufacturing 4 (27%) - 4 (16%) -
Building Materials 3 (20%) 18M (100%) 3 (12%) 18M (100%)
Distribution 3 (20%) - 3 (12%) -
Business Services - - 2 (8%) -
Staffing - - 2 (8%) -
Transportation 1 (7%) - 2 (8%) -
Consumer Products 1 (7%) - 1 (4%) -
Healthcare Services 1 (7%) - 1 (4%) -
Medical Products 1 (7%) - 1 (4%) -
Packaging - - 1 (4%) -
Plastics - - 1 (4%) -
Total 15 $18M 25 $18M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 14 (93%) 18M (100%) 24 (96%) 18M (100%)
  Nebraska - - 3 (12%) -
  North Carolina 2 (13%) 18M (100%) 2 (8%) 18M (100%)
  Texas 2 (13%) - 2 (8%) -
  Pennsylvania 2 (13%) - 2 (8%) -
  Illinois 2 (13%) - 2 (8%) -
  Indiana 1 (7%) - 2 (8%) -
  Florida 1 (7%) - 2 (8%) -
  Michigan - - 2 (8%) -
  Ohio 1 (7%) - 1 (4%) -
  New Mexico 1 (7%) - 1 (4%) -
  Massachusetts 1 (7%) - 1 (4%) -
  Arizona 1 (7%) - 1 (4%) -
  Tennessee - - 1 (4%) -
  Oklahoma - - 1 (4%) -
  Georgia - - 1 (4%) -
Switzerland 1 (7%) - 1 (4%) -
Total 15 $18M 25 $18M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 4 (27%) - 9 (36%) -
Growth Capital 5 (33%) - 6 (24%) -
Divestiture 5 (33%) 18M (100%) 5 (20%) 18M (100%)
Buyout (LBO, MBO, MBI) 1 (7%) - 3 (12%) -
Consolidation - - 1 (4%) -
Recapitalization - - 1 (4%) -
Total 15 $18M 25 $18M

Exits by Deal Type

Type Total # Value
Secondary Sale 4 (40%) -
Merger 2 (20%) -
Trade Sale 2 (20%) -
Recapitalization 1 (10%) -
Unknown 1 (10%) -
Total 10 -

Top M&A Advisors

Financial Deals
Lincoln International
2
Duff & Phelps Corp.
1
Legal Deals
Pepper Hamilton LLP
1

Deal Values

buy # Total
< $100M 1 $18M
TOTAL $18M
Largest US GreenFiber LLC
$18M (2013-12-05)

M&A Connections

Deals %
Acquired from
PE Firm(s)
67%
12 67%
Strategic(s)
33%
6 33%
Exited to
PE Firm(s)
50%
4 50%
Strategic(s)
50%
4 50%

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