New York, New York – May 25, 2016 – Tenex Capital Management is pleased to announce the acquisition of Unirac Inc., a division of Hilti Corporation.
The Hilti Group supplies the worldwide construction industry with technologically leading products, systems and services that provide construction professionals with innovative solutions and superior added value.
Unirac is a leading North American manufacturer of solar panel mounting systems based in Albuquerque, NM. Unirac is focused on delivering the highest standards for form, fit and function in solar racking to the residential, commercial and utility end markets.
“Hilti has decided to divest what we consider a non-core asset,” explained Hilti Executive Board Member Matthias Gillner. He added: “The positive financial results of the last few years reflect the outstanding work done by the Unirac team. We are convinced that the new owner will support the company’s future growth and will do their best to continue serving existing customers. We wish the entire Unirac team a very successful future.”
J.P. Bretl, a Managing Director of Tenex Capital Management, remarked, “A core component of Tenex’s strategy revolves around working with corporations to find solutions for their non-core assets, and we are very pleased to have accomplished this with Unirac. We look forward to working with Unirac’s leadership team to further enhance their market leadership position in solar panel mounting systems.”
The transaction was effective as of April 15, 2016.
About Tenex
Tenex Capital Management is a private equity firm that invests in middle-market companies. Tenex uses an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including industrials, manufacturing, and health and business services. For additional information, please visit www.tenexcm.com.
About Unirac
Unirac is the leading manufacturer of PV mounting systems in North America. With over 15 years of customer service, Unirac is fast approaching 5GW of experience with more than 500,000 installations worth of knowledge. Unirac can provide you with the peace of mind that can only come from experience. For additional information, please visit www.unirac.com.