Tenex Capital Management has acquired and merged sister companies Consolidated Label and Online Labels (together “Consolidated”) in partnership with their founders, Joel and Dave Carmany.
Consolidated is a provider of printed pressure sensitive, shrink sleeve, flexible packaging, and blank labels on sheets and rolls that are used in the food, beverage, household, medical, pharmaceutical, and promotional products sectors. Through Online Labels, the company provides blank labels used with laser and inkjet printers.
The two companies sells their products to small businesses, consumers, and middle market brands through both enterprise relationships and a direct-to-consumer e-commerce platform. Consolidated was founded in 1980 and Online was launched in 1998. Both companies are headquartered in Sanford, Florida.
In partnership with Tenex, Consolidated will continue to be led by Dave Carmany as CEO and Joel Carmany as president.
“My father and I, as well as the broader organization, are energized by our new partnership with Tenex and believe our complementary skillsets will be a powerful combination in further scaling the company’s value proposition,” said Dave Carmany.
New York City-based Tenex invests up to $100 million in middle-market companies in the industrial, manufacturing, and health and business services sectors.
“Tenex is excited to partner with Dave, Joel, and the impressive organization they’ve created,” said Perrin Monroe, a managing director at Tenex. “Through its solution-based offering, the company has established itself as one of the premier middle market label manufacturers and is well-positioned for further scale. We look forward to supporting the company through this next chapter.”
NXT Capital , as joint lead arranger and joint bookrunner, provided a credit facility to finance Tenex’s acquisition of Consolidated Label and Online Labels.
Private Equity Professional | July 28, 2020