KPS Capital Partners Strikes Deal for Jennmar

KPS Capital Partners has agreed to acquire a controlling interest in Jennmar, a provider of industrial services and products and a portfolio company of FalconPoint Partners.

Jennmar is a manufacturer of infrastructure products and provides specialized services to the mining, construction, civil infrastructure, and solar industries. Customers use the company’s products to reinforce mine shafts and underground tunnels. Some of the company’s products include roof support systems, bolting products, and tunneling systems sold under brands such as J-Lok, IronFlex, and Fletcher Roof Systems.

In addition to ground control products used in mining operations, Jennmar supplies civil infrastructure hardware, solar mounting components, and construction support systems that assist contractors working on large-scale industrial and infrastructure projects.

The company’s Jennmar Services division provides plant maintenance, trucking, excavation, welding, steel erection, and concrete services to mining companies, construction contractors, and industrial plant operators.

FalconPoint acquired Jennmar in May 2024 and closed eight add-on acquisitions, including West Virginia-based Rohrig, a provider of heavy equipment repair and maintenance services (May 2025); Michigan-based All Tech Engineering (April 2025); the Sweden-based rock bolt production facility of publicly traded SSAB, a Nordic and U.S.-based steel company (February 2025); the mine sealant product line of Wright-Mix’s Pyro-Chem division (December 2024); the West Virginia-based cement blending facility of Wright-Mix (August 2024); Quebec-based Dumotech Industrial Products (June 2024); Virginia-based G&R Gas Services (June 2024); and Perth-based Australian Steel & Wire (May 2024).

The history of Jennmar begins in 1922, when Frank and Mary Calandra founded Frank Calandra (FCI), a Pennsylvania–based scrap metal collector located 80 miles east of Pittsburgh. The company evolved over the decades, expanding into mining equipment distribution and manufacturing. In 1965, FCI shifted its primary focus to the manufacturing of mine roof support systems. In 1972, Frank Calandra Jr. and John “Jack” Calandra, sons of the founders, consolidated the company’s various subsidiaries and sister companies under the name Jennmar.

Today, Pittsburgh-headquartered Jennmar is led by CEO Tony Calandra (the son of Frank Calandra Jr.) and EVP Michael Calandra (the son of Jack Calandra).

“I am exceptionally proud of the accomplishments of the Jennmar team – each year we consistently broaden our product offering, increase our service capabilities, and expand the geographies in which we can fully support our customers – all while continuing our best-in-class quality and delivery,” said Tony Calandra. “Jennmar is committed to continuing this trajectory and we identified KPS as the right partner to support and accelerate our growth. Jennmar will benefit considerably from KPS’ manufacturing expertise and capital resources as we continue to invest heavily in innovating to meet our customers’ needs and expanding our addressable markets.”

Jennmar operates more than twenty manufacturing facilities and multiple distribution warehouses across the United States, including locations in Alabama, Colorado, Georgia, Illinois, Kentucky, Michigan, Nevada, Pennsylvania, Texas, Utah, Virginia, and West Virginia, as well as internationally in Canada, Mexico, and Australia.

“Jennmar is a global market leader in ground support products with a proven track record of delivering best-in-class customer service and product quality,” said Kyle Mumford, a partner at KPS. “We look forward to supporting the Jennmar leadership team with KPS’ decades of global manufacturing experience as well as our strategic support and capital to continue Jennmar’s tremendous growth both organically and through acquisition. We are also pleased that existing owners, Tony Calandra and FalconPoint Partners, will continue as meaningful minority shareholders, affirming our shared view of the future growth and value creation potential of Jennmar.”

KPS Capital Partners makes control investments in manufacturing and industrial companies across a range of industries, including basic materials, branded consumer, healthcare, automotive parts, capital equipment, and general manufacturing. Many of KPS’s investments involve creating new companies to buy underperforming or distressed assets, companies operating in bankruptcy or in default of obligations to creditors, or with a history of recurring operating losses.

In October 2023, KPS closed both KPS Special Situations Fund VI LP at $8 billion in committed capital and KPS Special Situations Mid-Cap Fund II LP at $1.7 billion in committed capital. KPS, headquartered in New York City, also has offices in Frankfurt and Amsterdam.

FalconPoint makes control and minority investments in North American-based mid-market companies operating in the business services and industrial sectors. The New York City-based firm was founded in 2023 by Managing Partner Russ Gehrett. Prior to founding FalconPoint, Mr. Gehrett was a partner at Wynnchurch Capital, where he established and led the firm’s New York City office.

Jefferies was the financial advisor to KPS, and Evercore and Rothschild & Co. were the financial advisors to Jennmar and FalconPoint.

The transaction is expected to close in the second quarter of 2026.