Greensboro, NC, August 22, 2022 – Tencarva Machinery Company (“Tencarva” or the “Company”), the Southeast’s premier value-added distributor of flow control and process equipment solutions and services to the industrial and municipal end-markets, announced today that it has acquired Fischer Process Industries (“Fischer Process”), a leading distributor of pumps, valves and process equipment. Fischer Process’s existing management team, including President Ken Fischer, will remain with the company. Tencarva is a portfolio company of Bessemer Investors LLC (“Bessemer”), a New York-based investment firm. Financial terms of the transaction were not disclosed.
Ed Pearce, President of Tencarva, said, “Fischer Process Industries has a long track record of success, a skilled management team and strong service capabilities. The partnership brings the addition of valves to Tencarva’s product line and gives us access to new markets in Indiana, Kentucky and Ohio while bolstering our presence in Georgia. Fischer Process and Fischer Process-South, which will also join us, are the perfect complement to Tencarva’s existing platform, which we plan to continue expanding through strategic acquisitions.”
Headquartered in Loveland, Ohio, with additional locations in Alpharetta, Georgia, Owensboro, Kentucky, Marietta, Ohio, and Indianapolis, Indiana, Fischer Process serves customers in Ohio, Indiana, Kentucky, West Virginia and Georgia. Fischer Process offers full applications engineering capability and complete repair and service centers for rotating equipment and liquid handling equipment in each of its locations.
Mr. Fischer commented, “We’re very excited about our partnership with Tencarva, which allows us to run a larger platform with the benefit of scale as we grow our business. Tencarva introduces us to a broader customer and vendor base, and enhances our service capabilities as well asin addition to improvinge back-office efficiencies.”
About Tencarva Machinery Company
Tencarva was founded in Greensboro, North Carolina in 1978 with the mission of providing pumps and associated liquid handling equipment to industrial customers. Tencarva has increased its capabilities, added new suppliers, expanded geographies and enhanced its product portfolio, entering the municipal market in 2006. Today, Tencarva employs over 380 employees, including over 100 employee shareholders, across 28 locations in the Southeast. Tencarva also goes to market under the following brands throughout the Southeast: Southern Sales, Saladin Pump & Equipment, Hudson Pump & Equipment, ESSCO Service & Sales, and Uniguard Machine Guards. For more information, please visit https://tencarva.com.
About Fischer Process Industries
Fischer Process Industries is a leading distributor of pumps, valves, and process equipment servicing Ohio, Indiana, Kentucky, West Virginia and Georgia. With a 30,000 sq. ft. headquarters located in Loveland, Ohio, Fischer Process Industries also has 10,000 sq. ft. locations in Alpharetta, Georgia covering the southeast; Owensboro, Kentucky covering Central & Western Kentucky and Southern Indiana; and Marietta, Ohio covering West Virginia, Southeast Ohio, and Eastern Kentucky. All locations offer full applications engineering capability and complete repair and service centers for rotating equipment and liquid handling equipment. For more information, please visit https://www.fischerprocess.com.
About Bessemer Investors
Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer’s partners and the flexibility to maximize long-term value. For further information, please visit https://www.bessemerinvestors.com.
Contact:
Joanne Lessner
Lambert
212-222-7436
jlessner@lambert.com
AUG
2022