New York, New York – January 12, 2015 – Tenex Capital Management has announced the completed acquisition of Fairmont Supply (“Fairmont” or the “Company”), a recognized leader in the provision of Maintenance, Repair and Operations (“MRO”) products, from CONSOL Energy.
Fairmont has 28 strategically located facilities throughout the United States, enabling the Company to provide customers with purchasing and supply chain efficiencies, expedited delivery, and superior service. Fairmont sells its products to a diverse group of attractive industrial markets, including general industrial, oil & gas, coal, petrochemical, metals, and forest products. Fairmont combines a national footprint with deep geographic reach into its customers’ local markets, leveraging its state of the art systems to provide a one-stop shop for a broad range of customers’ MRO needs.
Michael Green, CEO of Tenex Capital Management, stated, “In Fairmont, we are fortunate to have acquired a market leading provider in the industrial MRO sector. The Company benefits from a strong position due to a broad product line, premium quality and a high level of service. We look forward to building on Fairmont’s 90-year history and supporting the management team in implementing their growth plans.”
Rudi Strobl, a seasoned private equity operator with deep MRO experience, has been named Executive Chairman of Fairmont Supply.
About Fairmont Supply
Established in 1921 and headquartered in Canonsburg, PA., Fairmont Supply is a long-time leader in materials management solutions and is one of the largest multi-line industrial MRO distributors in the United States. With 28 strategic locations throughout the United States, Fairmont Supply provides customized end-to-end materials fulfillment, warehousing and inventory management programs. Fairmont offers over 200,000 SKUs to hundreds of the leading industrial manufacturers in the United States. Fairmont is differentiated by its ability to serve as a one-stop shop for customers’ complete industrial MRO needs, focus on creating tailored programs, unique understanding of customers’ delivery requirements, and industry-leading information systems. For additional information, please visit: www.fairmontsupply.com
About Tenex Capital Management
Tenex Capital Management, LLC (“Tenex”) is a private equity firm that makes control investments in middle market companies. Tenex utilizes an in-house team of hybrid professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation within our portfolio companies. Tenex is based in New York City. For additional information please visit www.tenexcm.com