Tenex Capital Management, a private equity firm that invests in middle-market companies, has invested in R.F. Fager, a distributor of roofing, plumbing and HVAC supplies.
Founded in 1960 by Richard F. Fager Sr. and Delroy Brosius Sr. in Pennsylvania, the company has expanded into Maryland. In November 1991, it expanded to a larger building in Camp Hill, Pa., and in February 2004, the company moved its roofing department across the street from the location. It now has six branches in Pennsylvania and Maryland.
In a statement made to PEHub, Tenex Capital Managing Director Gabe Wood had the following to say about the investment:
"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 is next chapter of growth."
Wood went on to praise the supplier's "strong branch network, unwavering customer service, technical expertise, and solutions-oriented culture."