04, Jan. 2018
Tenex Capital Management Invests in Auveco
New York, NY – January 4th, 2018 – Tenex Capital Management (“Tenex”) is pleased to announce an investment in Auveco (“Automotive Vehicle Company” or the “Company”) of Cold Springs, KY.
Founded in 1916, Auveco has become one of the predominant providers of automotive fasteners in the body hardware aftermarket as well as general industrial fasteners used in maintenance, repair, and operations applications within North America. The Company sells to thousands of wholesale distribution customers who subsequently service hundreds of thousands of collision centers, repair shops, dealerships, and general manufacturers located throughout North America.
Auveco is led by CEO Walter “Chip” Homan and an accomplished management team. The Homan family has been leading the Company since 1956, providing an unmatched selection of quality products and customer service to the automotive aftermarket fastener industry.
Long-time CEO Chip Homan said, “We will continue to differentiate for our distributors and their customers with our quality and breadth of product offering augmented with exceptional customer service. We are excited to accelerate our new product introductions while enhancing our end-user service offering with innovative solutions like FasTrack, reference guides and various end-user resources. Our customers demand a wide selection of fastener products packaged efficiently and delivered quickly while being supported with exceptional customer service.”
Tenex Managing Director Ron Lejman commented, “We look forward to partnering with the Homan family in what is now Tenex’s third investment with a family owned platform company in the past 12 months. Auveco’s strong market position is driven by the quality of the company’s staff and infrastructure, and we look forward to re-investing in both to further strengthen the company’s value proposition to its customers.”
About Tenex
Tenex Capital Management is a private equity firm that invests in middle-market companies. Tenex uses 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 successfully invested in a diverse range of industries, including industrials, manufacturing, and health and business services. For additional information, please visit www.tenexcm.com.
About Auveco
Founded in 1916, Auveco has become one of the predominant providers of automotive fasteners to the body hardware aftermarket as well as general industrial fasteners used in maintenance, repair, and operations applications within North America. The Company sells to thousands of wholesale distribution customers who subsequently service hundreds of thousands of collision centers, repair shops, dealerships, and general manufacturers located throughout North America. For additional information, please visit www.auveco.com.
Tenex Continues to Seek Add-Ons for Select Existing Holdings:
