R.F. Fager Co., a West Shore distributor of plumbing, heating, roofing and other supplies, has a new partner.
- New York-based private equity firm Tenex Capital Management has made an undisclosed investment in the company.
- Efforts to reach R.F. Fager and Tenex were not successful,
- But in a statement to trade publication PE Hub, Tenex managing director Gabe Wood said, “The investment in Fager represents a compelling opportunity for Tenex to partner with a regional market-leading family-owned and -operated business that was seeking a partner to help execute its next chapter of growth.”
The target: R.F. Fager was founded in 1960 by Richard F. Fager Sr. and Delroy Brosius.
- The company is based in Lower Allen Township, Cumberland County, and has additional locations in Carlisle, Hanover, Harrisburg, York and Baltimore.
- It distributes a range of plumbing, HVAC and roofing supplies, as well as hoses, pipes, valves, fittings and fireplaces.
- The company’s co-owners are Richard Fager Jr. and Bryce Fager, according to its website.
The investor: Tenex operates three investment funds totaling more than $2.4 billion.
- The firm describes its strategy as partnering with families and management teams who “care about the family legacy, and for whom price is not the deciding factor,” according to its website.
- Its portfolio includes manufacturers, distributors, tech firms, health care companies and home-services businesses, such as:
- Columbia Home Services, a Dallas-based platform Tenex formed last year to buy residential HVAC, plumbing and electrical services companies.
- Gold Medal Pools, a residential pool builder in the Dallas-Fort Worth area.
- Perennial Services Group, a network of firms in Colorado, New Hampshire, New York, Ohio Pennsylvania and Wisconsin offering landscaping, lawn care, pest control and other home services.
