New York, NY – September 10, 2019 – Tenex Capital Management (“Tenex”) is pleased to announce that, in partnership with management, it has invested in Wolf Home Products (“Wolf” or the “Company”), a provider of branded kitchen and bath cabinetry, vanities, and accent tiles, as well as high-performance outdoor living and specialty building products.
Founded in 1843, Wolf started as a single store selling dry goods and lumber in Pennsylvania, before expanding its lumber operation into a sourcing organization, offering kitchen, bath, and building products to multiple channels in the building industry. Wolf currently sells its branded home products through a large and diverse base of 3,500+ independent dealers nationally and in Canada, making it one of the largest suppliers of kitchen and bath cabinetry in the nation, as well as an emerging leader in the supply of outdoor living and building products.
Wolf Home Products CEO & President Craig Danielson commented, “Wolf has established a well-deserved reputation for consistent, courteous and reliable service at industry leading turnaround times. We believe our core values of leadership, integrity, quality, innovation, and profitability for all parties will continue to deliver success for our customers, our suppliers, and our employees. We think this partnership with Tenex is another step towards living those values.”
Tenex Principal Gabe Wood commented, “It’s rare to get the opportunity to partner with a business that has roots dating back over 175 years. We think there is something special and very hard to replicate in the brand and business that the Company has established, and we look forward to partnering with the entire Wolf team to continue to build on the company’s success for the long-term.”
Fidus Partners served as exclusive financial advisor to Wolf. The transaction was effective as of September 3, 2019.