New York, NY – August 12, 2021 – Tenex Capital Management (“Tenex”) is pleased to announce the sale of Wolf Home Products (“Wolf”), a Tenex Capital Partners II, L.P. (“Fund II”) portfolio company, to PrimeSource Brands, a portfolio company of Clearlake Capital Group, L.P.
Based in York, PA, Wolf is a premier designer and supplier of branded cabinetry, vanities, countertops, decking, and railing, among other residential building products. Wolf services the pro dealer channel with short lead times by leveraging its distribution network and dealer-direct delivery model. With over 175 years of experience, Wolf has established itself as a preferred residential building products brand with exceptional quality, delivery speed and customer engagement.
Tenex Managing Director Gabe Wood commented, “We are extremely appreciative of the opportunity to partner with the Wolf team over the last two years and very proud of what they accomplished. Craig, Chris, Brad, Mike, Joe, and the rest of the management team did a superb job navigating a pandemic while doubling down on Wolf’s service-centric value proposition to take significant market share and capitalize on a multitude of growth opportunities. At the same time, despite industry-wide cost inflation, they improved profitability through several key operational initiatives and the successful integration of a synergistic acquisition, allowing the company to improve service density across all of its markets. We wish this excellent team the best during their new partnership with one of the leading brands in the industry.”
Wolf CEO Craig Danielson also noted, “Tenex was the ideal partner to help support Wolf’s growth over the last two years. The business underwent tremendous change in a short period of time, including integrating the 1st add-on in our history, opening multiple new greenfield markets, and successfully transforming key elements of our supply chain. Tenex supported us as we executed these game-changing initiatives and provided invaluable insights and operational expertise along the way.”
Fidus Partners acted as the lead financial advisor to Wolf and Tenex, and Keybanc Capital Markets and Stifel served as co-advisors.
About Wolf Home Products:
Wolf Home Products provides branded kitchen and bath, outdoor living and specialty exterior building products. Based in York, PA, Wolf carries a vast portfolio of branded building products and delivers orders in a fraction of the time to over 3,500 customers. Wolf stands behind its service, cultivated with +175 years of experience into a total satisfaction guarantee. For additional information, please visit www.wolfhomeproducts.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.