KPS CAPITAL PARTNERS TO ACQUIRE A CONTROLLING INTEREST IN JENNMAR

Global Leader in Safety-Critical Ground Support Products

NEW YORK, March 11, 2026 /CNW/ -- 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.

About Jennmar

Jennmar is a leading global provider of infrastructure products and specialized services to the civil infrastructure, solar, mining, and construction industries.  For over 100 years, Jennmar's focus has been on manufacturing products and providing solutions that help keep workers safe and productive.  For more information, please visit www.jennmar.com.

About FalconPoint Partners

FalconPoint is a private equity firm that invests in North American mid-market companies in the business services and industrial sectors. The firm leverages a network of relationships and a partnership-oriented approach to identify and execute on transformative growth opportunities at companies that provide mission-critical products and services. For more information, please visit www.falconpointpartners.com.

About KPS Capital Partners, LP

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $19.5 billion of assets under management (as of September 30, 2025).  For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.  KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage.  The KPS Funds' portfolio companies currently generate aggregate annual revenues of approximately $21.2 billion, operate 202 manufacturing facilities in 21 countries, and have approximately 55,000 employees, directly and through joint ventures worldwide (as of September 30, 2025).  The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

SOURCE KPS Capital Partners, LP

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