Tenex Capital Management has acquired SES Foam, a manufacturer of polyurethane spray foam insulation sold to the North American residential construction industry.
SES Foam’s open and closed cell wall foam products are currently used by a select number of authorized insulation contractors in various regions of the US. The company also produces and markets roofing foam. SES Foam was founded in 2010 and is headquartered in Houston (www.sesfoam.com).
Tenex Capital also owns GreenFiber, the largest manufacturer and marketer of cellulose insulation products made with recycled paper fibers. GreenFiber sells to building supply retailers, manufactured housing builders and insulation contractors. The company has 10 manufacturing facilities located throughout the US and Canada and is headquartered in Charlotte, NC (www.greenfiber.com). Tenex acquired GreenFiber in December 2013.
“As building codes across the country continue to require more energy-efficient building envelopes, spray foam insulation’s technical features will provide enhanced solutions over traditional materials,” said Mike Green, CEO and Managing Director of Tenex. “SES is well-positioned to capitalize on that trend with its products and services for contractors.”
Tenex Capital Management invests up to $100 million in middle-market companies in the industrial, manufacturing, and health and business services sectors. The firm has $452 million of committed capital and is based in New York (www.tenexcm.com).
“With the backing from Tenex and the broad geographic footprint of our new partner GreenFiber, we will be able to more quickly deepen the level of service we already provide to our growing base of highly loyal contractors,” said Charles Valentine, President of SES. “In addition, we will be able to roll out a combination of products and services to a wider set of contractors outside of Texas and the Southeastern US.”
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