FalconPoint Partners, a PE firm focused on investing in North American middle market companies in the business services and industrials sectors, announced its inaugural investment in JENNMAR, 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 management team. FalconPoint has invested and committed in excess of $250 million of equity to support the JENNMAR’s expansion and global growth.
Since being founded in 1922, JENNMAR has provided mission-critical products and essential services to the civil infrastructure, solar, mining, and construction industries. And JENNMAR 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 over 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.
JENNMAR has utilized its category-defining market expertise in the U.S. to fund significant reinvestment in the business—including growth capex and new acquisitions. And 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 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 served as financial advisors, and Lowenstein Sandler and Paul, Weiss, Rifkind, Wharton & Garrison provided legal advice to FalconPoint. Jones Day served as legal advisor to JENNMAR.
KEY QUOTES:
“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. 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.”
– Tony Calandra, CEO of JENNMAR
“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.”
– Russ Gehrett, Founder and Managing Partner of FalconPoint
