KPS Acquires Jennmar, Betting on Global Infrastructure's Bedrock

NEW YORK, NY – March 11, 2026 – In a significant move underscoring the enduring value of foundational industrial sectors, private equity firm KPS Capital Partners, LP has signed a definitive agreement to acquire a controlling interest in Jennmar, a global leader in safety-critical ground support products. The deal positions KPS, a firm known for its expertise in manufacturing turnarounds and growth, at the helm of a century-old company whose products are indispensable to the world's mining, construction, and infrastructure projects.

While the financial terms of the transaction were not disclosed, the acquisition is expected to close in the second quarter of 2026, pending customary approvals. The deal will see KPS take a controlling stake, while existing owners, including CEO Tony Calandra and private equity firm FalconPoint Partners, will retain a meaningful minority share, signaling a strong vote of confidence in the partnership's future.

A Strategic Bet on Foundational Industries

The acquisition is a classic example of the KPS investment thesis: identifying and empowering market-leading companies that provide essential, non-discretionary products. Jennmar, founded in 1922 and headquartered in Pittsburgh, Pennsylvania, is not a household name, but its products—ranging from specialized bolts and beams to chemical resins and trusses—are the literal bedrock of safety for workers in some of the world's most hazardous environments. With approximately 4,000 employees and 59 manufacturing facilities across the globe, Jennmar is a critical component of the supply chain for tunneling, mining, and major civil engineering projects.

KPS, which manages approximately $19.5 billion in assets, has a long history of investing in and improving complex manufacturing businesses. This acquisition is not a passive financial play; it is a strategic move to leverage KPS's operational expertise to enhance an already formidable industrial player.

"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," said Kyle Mumford, a Partner at KPS. "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."

The decision by Tony Calandra and FalconPoint to roll over a portion of their ownership is particularly noteworthy. It suggests a collaborative vision for growth, combining the deep-seated industry knowledge of the Jennmar leadership with the financial and strategic firepower of KPS.

Fueling a Century-Old Leader for Modern Demands

For over 100 years, Jennmar has built its reputation on reliability and safety. The partnership with KPS is poised to launch the company into its next century of innovation, fueled by fresh capital and a renewed strategic focus. This infusion comes at a pivotal moment, as the industries Jennmar serves are undergoing significant transformation.

The global push for infrastructure renewal, the transition to renewable energy, and the sustained demand for critical minerals are creating unprecedented opportunities. Jennmar has already demonstrated its adaptability by expanding its product lines to serve the burgeoning solar energy sector, providing the structural supports necessary for large-scale solar farm installations. With KPS's backing, the company is expected to accelerate this diversification while strengthening its core business.

"I am exceptionally proud of the accomplishments of the Jennmar team... Jennmar is committed to continuing this trajectory and we identified KPS as the right partner to support and accelerate our growth," said Tony Calandra, Chief Executive Officer of Jennmar. He emphasized that the company 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."

This investment will likely translate into enhanced research and development, faster product innovation, and a broader geographic reach, ensuring that Jennmar can meet the evolving safety and efficiency standards of modern construction and resource extraction.

The KPS Playbook: Operational Excellence Meets Global Scale

KPS Capital Partners has built its reputation on a distinct approach to private equity. Rather than relying primarily on financial leverage, the firm focuses on structurally improving the strategic position, competitiveness, and profitability of its portfolio companies. The KPS playbook involves working constructively with management teams to drive operational excellence across all functions, from the factory floor to the supply chain.

With Jennmar's extensive network of 59 manufacturing facilities, the potential for applying KPS's expertise in global manufacturing optimization is vast. Synergies in production, procurement, and logistics could unlock significant value and further enhance the company's competitive advantage. KPS's track record includes successful transformations of industrial giants like Briggs & Stratton and AM General, demonstrating its ability to navigate complex operational challenges and foster long-term growth.

Furthermore, KPS has explicitly stated its support for Jennmar's M&A strategy. Jennmar itself has been an active consolidator in its niche, and with KPS's capital and strategic oversight, the pace of acquisitions could accelerate. This would allow Jennmar to quickly enter new markets, acquire innovative technologies, and broaden its product portfolio, solidifying its leadership position in the ground support industry.

Underpinning Global Growth and Safety

Ultimately, the acquisition of Jennmar by KPS is a story about the fundamental forces shaping the global economy. As nations invest trillions in upgrading aging infrastructure and building the foundations for a green energy future, the demand for safety-critical products will only increase. From new subway tunnels and bridges to the mines that produce copper and lithium for electric vehicles, Jennmar's products provide the essential stability that makes progress possible.

This transaction represents a powerful endorsement of the enduring importance of heavy industry and specialized manufacturing. It highlights that behind the headline-grabbing tech innovations and consumer trends, there is a vast and vital ecosystem of industrial companies ensuring that the modern world can be built safely and efficiently. By combining Jennmar's century of product excellence with KPS's strategic and operational acumen, the newly formed partnership is well-equipped to meet this growing global demand and continue its legacy of underpinning progress for another hundred years.