Tenex Capital Partners, LP (“Fund I”) is pleased to announce the completion of three add-on acquisitions in the last two months by its portfolio companies:
— JPW Industries acquired Edwards Manufacturing on July 29, 2016. Edwards Manufacturing is a family owned manufacturer of industrial ironworkers, hydraulic accessory tools, ironworker tooling, punches and dies, and specialty tools, including the innovative, portable, hydraulic Edwards Strut Pro. Edwards products are proudly Made in America and broadly distributed through metalworking dealers in North America and worldwide. The company was founded in 1875 and is headquartered in Albert Lea, MN.
— Compass Health Brands acquired Meridian Medical on August 1, 2016. Meridian is a privately held manufacturer of gel overlays, mattresses, seating/positioning cushions and custom support products. Meridian also sells both proprietary products and distributed products in the lines of support surfaces, lymphedema, fall prevention and safety and respiratory. The company is headquartered in Knoxville, TN and operates out of three neighboring locations that serve as separate warehouse, office and distribution spaces.
— Thermoforming Technology Group (“TTG”) acquired Nalle Automation Systems LLC (“NAS”) on August 23, 2016. NAS is a family owned designer and manufacturer of vertical bagging, vertical shrink wrapping, sleeve wrapping, and custom automation packaging machinery used by food & beverage packaging processors. The company is headquartered in Knoxville, TN.
Tenex CEO Mike Green commented, “After a very active start to the year when we closed several platforms across our funds, the third quarter has been fruitful on the add-on front. Tenex has now completed seven acquisitions year to date, three of which have been platforms and four of which have been add-ons. These add-ons broaden the scope of our portfolio companies’ product offerings, and we believe will generate further operational leverage. We are pleased with our team’s ability to continue to find and execute on opportunities that position us to enhance our portfolio amidst a mercurial deal environment.”
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. For additional information, please visit www.tenexcm.com.
About JPW Industries
Headquartered in La Vergne, Tennessee, JPW Industries, Inc®. manufactures and markets a wide range of machinery and equipment under the JET®, Powermatic®, Wilton® and Promac® brands. In addition to its La Vergne headquarters, the company has operations in Europe and Asia. It sells through a vast network of distributor partners worldwide. For additional information, please visit www.jpwindustries.com.
About Compass Health Brands
Compass Health Brands, a holding company, owns subsidiaries that are leaders in bath safety, durable medical equipment, health aids, medication compliance, mobility, pain management, personal care, respiratory, and sleep therapy serving both professional and consumer markets. The products are used by home care patients, the mobility challenged, senior citizens, and members of the general public. Professional brands include Roscoe Medical, InTENSity and Viverity and are sold through a professional independent dealer network. Consumer brands include Carex, AccuRelief, Apex, Bed Buddy, TheraMed and Strength Tape and are sold through drug store chains, drug wholesalers, mass merchants, and grocery retailers. For additional information, please visit www.compasshealthbrands.com.
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.