New York, NY – August 21, 2023 – Tenex Capital Management (“Tenex”) is pleased to announce an investment in Gold Medal Pools (“Gold Medal” or “The Company”), a residential-focused pool service and maintenance provider and pool construction company.
Headquartered in Lewisville, TX, Gold Medal Pools is one of the leading residential-focused pool service, maintenance, and construction businesses in the DFW area. With two locations across Dallas, Gold Medal employs over 140 individuals to service ~3,000 residential pools weekly. The existing owners, The Cynosure Group (“Cynosure”) and Josh Sandler, have retained a significant ownership stake in the business, and Josh Sandler will continue to lead the Company going forward.
Gold Medal Pools CEO, Josh Sandler, commented, “We were incredibly impressed by Tenex’s past successes and deep network in the pool space and other relevant industries. Clearly, they offer extensive operational expertise and can help us take Gold Medal through its next phase of growth and expansion – we really couldn’t ask for a better partner.”
Tenex Managing Director, Gabe Wood, remarked, “Josh and the entire Gold Medal team are best-in-class and share our bold vision for this company. Having spent considerable time in the pool industry previously through two deals, we are excited to now partner with Josh and Cynosure to build on the foundation of Gold Medal’s premium service reputation to continue delivering outstanding customer outcomes.” Tenex Managing Director, Joe Cottone, added, “The team has completed 17 acquisitions in recent years and formed a strong operational platform. We are looking forward to accelerating this growth further and creating a scaled business that is built to last. We believe Gold Medal is poised to become the acquirer of choice in the industry and serve as a great home for interested sellers in the market.”
The transaction closed on July 21, 2023.
About Gold Medal Pools:
Gold Medal Pools was founded by the Sandler family in 1997 and quickly established itself among the top residential pool builders in the Dallas-Fort Worth metroplex. Since its foundation, Gold Medal has leveraged its aquatics expertise and network to build out a best-in-class Service and Maintenance business, which currently is the largest player in the DFW market servicing nearly 3,000 residential pools on a weekly basis. For additional information, please visit www.goldmedalpools.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 diversified industrials, business and tech-enabled services, and healthcare. For additional information, please visit www.tenexcm.com.