New York, NY – March 16, 2021 – Tenex Capital Management (“Tenex”) is pleased to announce the sale of Tenex Capital Partners II, L.P. (“Fund II”) portfolio company Custom Molded Products (“CMP”) to Fluidra S.A. (BME: FDR), a global leader in the swimming pool and wellness space.
CMP is a leading supplier of innovative solutions for the recreational water industry with a strong portfolio of reputable brands such as DEL™, Brilliant Wonders®, SpaMASTER™ and Bobé Water & Fire. Headquartered in Newnan, Georgia, CMP operates manufacturing and distribution facilities from multiple locations in the United States and China. CMP’s products are carried by distributors and OEMs in the United States, Canada, Latin America, Europe, Australia and the Middle East.
“We are thrilled about CMP’s success during our partnership with Tenex, as well as the tremendous growth opportunity that the new partnership with Fluidra presents,” said Tom Moore, Chief Executive Officer of CMP.
Tenex Managing Director Gabe Wood commented “We’re extremely proud of the CMP team’s accomplishments during the past four years, including doubling revenue and tripling EBITDA since 2016, integrating four add-on acquisitions, navigating a global pandemic across international manufacturing facilities, and deploying best-in-class business intelligence tools.”
Tenex Managing Director Ron Lejman also commented, “Even after running into a significant tariff headwind, the team successfully executed on an extensive list of operating initiatives generating significant performance improvements, including increased plant productivity and supply chain enhancements, all while consistently finding ways to better serve the customer.”
Raymond James & Associates, Inc. served as lead financial advisor to CMP, with Nomura Securities serving as a co-advisor, and Troutman Pepper Hamilton Sanders LLP serving as legal counsel.
About Custom Molded Products:
CMP is a leading designed and manufacturer of products for the recreational pool and spa industry. Innovative products from CMP include sanitizer systems, white goods, LED lighting, water features and accessories. Spa designers, pool builders, bath manufacturers and retail store owners around the world depend on CMP products, service and support. The company is headquartered in Newnan, GA with a manufacturing plant in Shanghai, China. For additional information, please visit www.c-m-p.com.
About Tenex Capital Management:
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 successfully invested in a diverse range of industries, including industrials, business services, healthcare, building products, and auto aftermarket, among others. For additional information, please visit www.tenexcm.com.