KPS Capital Partners to acquire controlling stake in JENNMAR

NEW YORK, March 12, 2026 /PRNewswire/ -- KPS Capital Partners, LP ("KPS") announced today that, through a newly formed affiliate, it has signed a definitive agreement to acquire a controlling interest in Jennmar and its affiliates ("Jennmar" or the "Company"). Financial terms of the transaction were not disclosed. Completion of the transaction is expected in the second quarter of 2026 and is subject to customary closing conditions and approvals.

Founded in 1922, Jennmar is a leading global provider of safety-critical products and essential services to the mining, civil infrastructure, solar and construction industries. Jennmar serves as an integral and trusted partner to its customers around the world and enables them to run their operations safely and efficiently. The Company is headquartered in Pittsburgh, Pennsylvania, has approximately 4,000 employees and operates 59 manufacturing facilities across the globe.

Kyle Mumford, Partner of KPS, said, "Jennmar is a global market leader in ground support products with a proven track record of delivering best-in-class customer service and product quality. We look forward to supporting the Jennmar leadership team with KPS' decades of global manufacturing experience as well as our strategic support and capital to continue Jennmar's tremendous growth both organically and through acquisition. We are also pleased that existing owners, Tony Calandra and FalconPoint Partners, will continue as meaningful minority shareholders, affirming our shared view of the future growth and value creation potential of Jennmar."

Tony Calandra, Chief Executive Officer of Jennmar, said, "I am exceptionally proud of the accomplishments of the Jennmar team – each year we consistently broaden our product offering, increase our service capabilities, and expand the geographies in which we can fully support our customers – all while continuing our best-in-class quality and delivery. Jennmar is committed to continuing this trajectory and we identified KPS as the right partner to support and accelerate our growth. Jennmar will benefit considerably from KPS' manufacturing expertise and capital resources as we continue to invest heavily in innovating to meet our customers' needs and expanding our addressable markets."

Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel and Jefferies served as financial advisor to KPS and its affiliates. Lowenstein Sandler LLP served as legal counsel and Evercore and Rothschild & Co. served as financial advisors to Jennmar and FalconPoint.

For more information, please visit www.jennmar.com.

For more information, please visit www.falconpointpartners.com.

The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.