New York, New York – March 14, 2016 – Tenex Capital Management is pleased to announce the acquisition of Thermoforming Technologies Group, of Beaverton, MI. TTG is a manufacturer of highly-engineered thermoforming equipment used in the conversion of plastic sheet into value-added products across a wide array of industries.
“We are very excited to team with Tenex and look forward to continuing our high level of service and responsiveness with our customers,” said Bryan Redman, CEO of TTG. “In addition, as a result of this transaction, we become even better positioned to bring our market leading technology and service to the next level,” continued Redman.
Michael Green, CEO of Tenex Capital Management commented, “We believe TTG is a high quality business, with a strong leadership and solid end markets. We look forward to working with Bryan and his experienced team and to growing the company to the next level.”
About Tenex
Tenex Capital Management is a private equity fund that invests in middle-market companies. Tenex utilizes an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including industrials, manufacturing, and health and business services. For additional information, please visit www.tenexcm.com.
About Thermoforming Technology Group
Thermoforming Technology Group (TTG) is North America’s leading manufacturer and servicer of highly-engineered thermoforming equipment used in the critical conversion of plastic sheet into high-value-add products, where quality, throughput, and efficiency are paramount. Sold under the Brown and Lyle brands, TTG’s leadership position and sustained competitive advantages stem from its world-class operations and ability to custom design and manufacture complex thermoforming solutions to exact customer specifications, regardless of market or application. The company is headquartered in Beaverton, MI. For additional information, please visit www.thermoformingtechnologygroup.com.