FalconPoint Partners Announces Inaugural Investment in Infrastructure Solutions Provider JENNMAR

Investment to Fuel JENNMAR's Accelerating Global Growth

NEW YORK, May 14, 2024 /PRNewswire/ -- FalconPoint Partners ("FalconPoint"), a private equity firm focused on investing in North American middle market companies in the business services and industrials sectors, today announced its inaugural investment in JENNMAR (the "Company"), a leading global provider of infrastructure products and specialized services to the civil infrastructure, solar, mining, and construction industries. JENNMAR will continue to be led by CEO Tony Calandra and the rest of its industry leading, tenured management team. FalconPoint has invested and committed in excess of $250 million of equity to support the Company's expansion and global growth.

Since its founding in 1922, JENNMAR has provided mission-critical products and essential services to the civil infrastructure, solar, mining, and construction industries. The Company maintains a broad product and service offering, with a modernized asset portfolio that enables it to meet customers' needs across manufactured products, resins and chemicals, diversified industrial manufacturing, and specialized services such as engineering support and staffing. JENNMAR now has more than 4,000 employees across nearly 80 locations in North America, Australia, Asia, and Europe, and serves a roster of blue-chip customers comprising industry-leading companies around the globe.

"I am tremendously proud of the work the JENNMAR team has accomplished in recent years, as we've broadened product and service capabilities and accelerated our international expansion while continuing to deliver best-in-class quality to our customers," said Tony Calandra, CEO of JENNMAR. "We are incredibly excited to be partnering with the FalconPoint team. I have a deep respect for their capabilities, and I look forward to their support in bringing the right resources, experience, and expertise to drive our ongoing growth. The transaction brings our liquidity position to over $500 million and positions us to continue investing heavily in developing and deploying innovative and cost-efficient solutions for our customers."

Russ Gehrett, Founder and Managing Partner of FalconPoint said, "Built on the Calandra family's 100-year track record of operational excellence in manufacturing and value-added services, JENNMAR has an irreplicable role within its end-markets, and we are thrilled for the opportunity to partner with them and help fuel their growth across the globe. Tony and his team have executed on a range of compelling opportunities during the past six years, transforming JENNMAR into a scaled, global company that meets the needs of customers around the world. I look forward to continuing to leverage FalconPoint's capital and strategic resources to capture significant upside through both organic and inorganic growth."

JENNMAR has leveraged its category-defining market expertise in the U.S. to fund significant reinvestment in the business—including growth capex and new acquisitions. In recent years, the Company has executed on a robust deal pipeline, expanding its production capacity and strengthening its foothold in growing markets around the world. Since 2018, the company has invested over $450 million, completing over a dozen M&A transactions, opening numerous greenfield facilities, and installing cutting-edge automation throughout the global facility footprint.

BofA Securities and Truist Securities, Inc. served as financial advisors, and Lowenstein Sandler LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal advice to FalconPoint. Jones Day served as legal advisor to JENNMAR.

FalconPoint is a private equity firm which invests in North American middle market companies in the business services and industrials sectors. The firm leverages a partnership-oriented approach and relationship-based sourcing strategy to identify and execute on idiosyncratic opportunities to acquire businesses that provide mission critical products and services. For more information, please visit www.falconpointpartners.com.

JENNMAR is a leading global provider of infrastructure products and specialized services to the civil infrastructure, solar, mining, and construction industries. For over 100 years, JENNMAR's focus has been on manufacturing products and providing solutions that help keep workers safe and productive. For more information, please visit www.jennmar.com.

Ed Trissel / Sarah Salky
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
[email protected]

Michelle Eastly
412-629-8410
[email protected]

SOURCE FalconPoint Partners