NEW YORK — March 11, 2026
Executive Summary
KPS Capital Partners, LP announced that it has signed a definitive agreement, through a newly formed affiliate, to acquire a controlling interest in Jennmar and its affiliated entities. Jennmar is a global provider of safety-critical products and services serving the mining, civil infrastructure, solar, and construction industries. Financial terms of the transaction were not disclosed.
The acquisition agreement was announced on March 11, 2026, and the transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and approvals. Jennmar, founded in 1922 and headquartered in Pittsburgh, Pennsylvania, operates globally with approximately 4,000 employees and 59 manufacturing facilities. The company manufactures ground support and infrastructure products designed to help customers operate safely and efficiently.
According to the companies, existing owners Tony Calandra and FalconPoint Partners will remain meaningful minority shareholders following completion of the transaction. The agreement represents a new ownership structure intended to support Jennmar’s continued development in global industrial markets.
Acquisition Agreement Overview
KPS Capital Partners, LP announced that it has entered into a definitive agreement to acquire a controlling interest in Jennmar through a newly formed affiliate. Jennmar is a long-established manufacturer and service provider focused on safety-critical products used in infrastructure and industrial environments.
The agreement establishes KPS as the controlling investor in Jennmar upon completion of the transaction. Financial terms associated with the investment were not disclosed in the announcement. Completion of the transaction is expected during the second quarter of 2026 and remains subject to customary regulatory approvals and other closing conditions.
Jennmar operates as a supplier of products and services used in mining, civil infrastructure, solar energy development, and construction activities. The company’s offerings are designed to support structural stability and operational safety in industrial worksites and large-scale infrastructure environments.
The acquisition agreement also provides for the continued participation of current stakeholders. Tony Calandra, Chief Executive Officer of Jennmar, and FalconPoint Partners will remain involved as minority shareholders following the closing of the transaction. According to the announcement, this ownership structure reflects continued participation by existing stakeholders alongside the incoming controlling investor.
Key Announcement Details
Transaction Overview
- Announcement Title: KPS Capital Partners to Acquire a Controlling Interest in Jennmar
- Announcement Source: KPS Capital Partners, LP
- Announcement Date: March 11, 2026
- Announcement Location: New York, United States
- Transaction Type: Acquisition of a controlling interest
- Acquiring Organization: KPS Capital Partners, LP
- Acquisition Vehicle: Newly formed affiliate of KPS Capital Partners
- Target Entity: Jennmar and its affiliated companies
- Transaction Status: Definitive agreement signed
- Financial Terms: Not disclosed
- Expected Transaction Closing: Second quarter of 2026
- Closing Conditions: Subject to customary closing conditions and approvals
Ownership Structure Following the Transaction
- Continuing Minority Shareholders: Tony Calandra and FalconPoint Partners
- Role of Existing Owners: To remain meaningful minority shareholders following completion of the acquisition
Jennmar Corporate Profile
- Company Name: Jennmar
- Industry Positioning: Global provider of safety-critical ground support products and services
- Founding Year: 1922
- Corporate Headquarters: Pittsburgh, Pennsylvania, United States
- Employee Count: Approximately 4,000 employees
- Global Manufacturing Footprint: 59 manufacturing facilities worldwide
Jennmar Operational Scope
- Primary Product Category: Safety-critical ground support products
- Product and Service Focus: Infrastructure products and specialized industrial services
- Core Mission: Manufacturing products and delivering solutions designed to support safe and productive operations
Industries Served by Jennmar
- Mining Industry
- Civil Infrastructure Industry
- Solar Energy Industry
- Construction Industry
Jennmar Customer Role
- Operational Function: Serves as a partner to customers in industrial and infrastructure sectors
- Customer Support Objective: Enable customers to operate safely and efficiently
Strategic Positioning Referenced in the Announcement
- Market Position: Global market leader in ground support products
- Operational Strengths Referenced: Customer service and product quality
- Strategic Objective Referenced: Continued growth organically and through acquisition
Advisory Firms and Transaction Support
Advisors to KPS Capital Partners
- Legal Counsel: Paul, Weiss, Rifkind, Wharton & Garrison LLP
- Financial Advisor: Jefferies
Advisors to Jennmar and FalconPoint Partners
- Legal Counsel: Lowenstein Sandler LLP
- Financial Advisors: Evercore and Rothschild & Co.
FalconPoint Partners Profile
- Firm Type: Private equity firm
- Investment Geography: North America
- Target Market Segment: Mid-market companies
- Primary Sectors: Business services and industrial sectors
- Investment Approach: Partnership-oriented strategy
- Investment Focus: Companies providing mission-critical products and services
- Strategic Objective: Identify and execute transformative growth opportunities
KPS Capital Partners Profile
- Firm Name: KPS Capital Partners, LP
- Investment Platform: KPS Special Situations Funds
- Assets Under Management: Approximately $19.5 billion (as of September 30, 2025)
KPS Investment Strategy
- Investment Duration: Over three decades of investment activity
- Investment Focus: Controlling equity investments
- Target Company Type: Manufacturing and industrial companies
Industries Targeted by KPS Investments
- Basic Materials
- Branded Consumer Products
- Healthcare Products
- Luxury Products
- Automotive Parts
- Capital Equipment
- General Manufacturing
KPS Portfolio Company Statistics
- Aggregate Annual Revenues: Approximately $21.2 billion
- Global Manufacturing Facilities: 202 facilities
- Countries of Operation: 21 countries
- Global Workforce: Approximately 55,000 employees including joint ventures
Jennmar Corporate Focus
- Operational Focus: Manufacturing infrastructure products
- Operational Objective: Deliver solutions that help maintain worker safety and productivity
- Operational History: Over 100 years of industrial manufacturing operations
Website References Mentioned in the Announcement
- Jennmar: www.jennmar.com
- FalconPoint Partners: www.falconpointpartners.com
- KPS Capital Partners: www.kpsfund.com
Jennmar’s Operations and Global Presence
Jennmar is a global provider of infrastructure products and specialized services designed for industrial and infrastructure projects. The company’s product portfolio includes safety-critical ground support systems and other infrastructure solutions used in sectors such as mining, construction, civil infrastructure development, and solar energy projects.
Founded in 1922, Jennmar has operated in industrial manufacturing for more than a century. The company focuses on manufacturing products and delivering services that support safe and efficient operations for its customers. Its product lines and engineering solutions are designed to support structural integrity and worker safety in complex operational environments.
Jennmar is headquartered in Pittsburgh, Pennsylvania. The company employs approximately 4,000 people globally and operates a network of 59 manufacturing facilities. Through these facilities, Jennmar manufactures infrastructure and support products used in industrial projects across multiple regions.
According to the company, Jennmar works closely with its customers to support operational efficiency and safety in environments where infrastructure stability and worker protection are essential. Its offerings serve industries that require engineered support systems and durable industrial materials to maintain safe working conditions.
The company’s long operating history and global manufacturing footprint position it as a supplier of products and services used across several industrial sectors.
Transaction Advisors and Legal Counsel
Several legal and financial advisory firms supported the parties involved in the transaction announced by KPS Capital Partners and Jennmar, providing advisory services related to the legal, financial, and transactional aspects of the agreement.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS Capital Partners and its affiliated entities in connection with the acquisition agreement. Jefferies acted as financial advisor to KPS and its affiliates, supporting the firm in the financial aspects of the transaction.
Jennmar and FalconPoint Partners were advised by Lowenstein Sandler LLP as legal counsel on matters related to the agreement. Evercore and Rothschild & Co. served as financial advisors to Jennmar and FalconPoint Partners during the transaction process.
Together, these legal and financial advisors supported the preparation, structuring, and negotiation of the transaction that resulted in the announced agreement for KPS to acquire a controlling interest in Jennmar.
Leadership Statements
Kyle Mumford, Partner at KPS Capital Partners, commented on the transaction and the company’s perspective on Jennmar’s operations.
“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, also commented on the partnership with KPS Capital Partners.
“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.”
About Jennmar
Jennmar is a global provider of infrastructure products and specialized services serving the civil infrastructure, solar, mining, and construction industries. Founded in 1922, the company has focused on manufacturing products and delivering solutions designed to support safe and productive operations in industrial and infrastructure environments.
Jennmar produces safety-critical ground support systems and other infrastructure components used in large-scale construction and industrial projects. Its offerings are designed to help customers maintain safe working conditions while supporting operational productivity.
The company operates from its headquarters in Pittsburgh, Pennsylvania and maintains a global manufacturing network consisting of 59 facilities. Jennmar employs approximately 4,000 people across its operations.
More information about Jennmar is available at www.jennmar.com.
About FalconPoint Partners
FalconPoint Partners is a private equity firm that invests in North American mid-market companies operating in the business services and industrial sectors. The firm focuses on companies that provide mission-critical products and services and works with management teams to support long-term development and operational growth.
FalconPoint applies a partnership-oriented investment approach supported by an extensive network of industry relationships. Through this strategy, the firm seeks to identify opportunities that support expansion and transformation within its portfolio companies.
More information about FalconPoint Partners is available at www.falconpointpartners.com.
About KPS Capital Partners, LP
KPS Capital Partners, LP is the manager of the KPS Special Situations Funds through its affiliated management entities. The investment platform oversees approximately $19.5 billion of assets under management as of September 30, 2025.
For more than three decades, the partners of KPS have focused on making controlling equity investments in manufacturing and industrial companies across multiple industries. These industries include basic materials, branded consumer products, healthcare and luxury products, automotive parts, capital equipment, and general manufacturing.
KPS works with management teams of portfolio companies to support operational improvements and strategic development. The firm’s investment approach emphasizes strengthening the competitiveness and strategic positioning of the companies in which it invests.
According to the firm, portfolio companies of the KPS Special Situations Funds currently generate aggregate annual revenues of approximately $21.2 billion. These companies operate 202 manufacturing facilities in 21 countries and employ approximately 55,000 people globally, including employees working through joint ventures.
Additional information about KPS Capital Partners and the KPS Special Situations Funds is available at www.kpsfund.com.
Media Contact
For additional information, visit kpsfund.com.
Source Attribution
Source: Company announcement