New York, New York – July 27, 2016 – Tenex Capital Management is pleased to announce the sale of SouthernCarlson, a national distributor of power-driven fasteners, packaging supplies and specialty tools for the residential construction and general industrial manufacturing end-markets. In addition to distributing supplies and equipment, the company provides value-add services such as equipment repair and maintenance, category management and vendor managed inventory that are critical to the success of the company.
Tenex’s investment in the company began via the initial acquisition of Omaha, NE based Carlson Systems in September 2014. Shortly thereafter, Tenex acquired Muscle Shoals, AL based Southern Fastening Systems in November 2014. The business rebranded itself as SouthernCarlson, leveraging the strong, nationwide reputation for exceptional customer service. Smaller add-on acquisitions of Kentec and Duo-Fast Carolinas were completed in June 2015 and October 2015, respectively.
Tenex CEO Michael Green commented, “Tenex has been impressed with the SouthernCarlson management team’s ability to maintain a sales and service oriented culture amidst significant merger activity during our partnership. Sourcing, diligencing and integrating four separate companies into one cohesive organization in less than two years has been a tremendous accomplishment for all parties involved. The underlying rationale of improved customer service and efficiency for the business combinations has clearly materialized in the financial performance and growth trajectory of the company. We are excited for the company’s continued growth with its new owners as they together build on the recent success Tenex has helped to create.”
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 established a successful track record investing in diverse industries, including industrials, manufacturing, and health and business services.
SouthernCarlson operates more than 150 fastening, packaging and service centers in local cities and towns across 34 of the United States and Mexico. With corporate offices in Muscle Shoals, Alabama, and Omaha, Nebraska, and backed by nearly 850 employees across the country, SouthernCarlson is proud to provide tools, building materials, packaging supplies and equipment to building professionals and manufacturers with a level of personal service that is second to none.