Distributors join forces with acquisition in N.C.
Greensboro distributor Tencarva Machinery, specialists for flow control and process equipment solutions and services to the industrial and municipal end-markets, announced August 22 that it has acquired Fischer Process Industries, a 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, 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 in addition to improving back-office efficiencies."