August 22, 2022

Greensboro, NC, August 22, 2022 – Tencarva Machinery Company (“Tencarva” or the “Company”), the Southeast’s premier value-added distributor of flow control and process equipment solutions and services to the industrial and municipal end-markets, announced today that it has acquired Fischer Process Industries (“Fischer Process”), a leading distributor of pumps, valves and process equipment. Fischer Process’s existing management team, including President Ken Fischer, will remain with the company. Tencarva is a portfolio company of Bessemer Investors LLC (“Bessemer”), a New York-based investment firm. Financial terms of the transaction were not disclosed.

Ed Pearce, President of Tencarva, said, “Fischer Process Industries has a long track record of success, a skilled management team and strong service capabilities. The partnership brings the addition of valves to Tencarva’s product line and gives us access to new markets in Indiana, Kentucky and Ohio while bolstering our presence in Georgia. Fischer Process and Fischer Process-South, which will also join us, are the perfect complement to Tencarva’s existing platform, which we plan to continue expanding through strategic acquisitions.”

Headquartered in Loveland, Ohio, with additional locations in Alpharetta, Georgia, Owensboro, Kentucky, Marietta, Ohio, and Indianapolis, Indiana, Fischer Process serves customers in Ohio, Indiana, Kentucky, West Virginia and Georgia. Fischer Process offers full applications engineering capability and complete repair and service centers for rotating equipment and liquid handling equipment in each of its locations.

Mr. Fischer commented, “We’re very excited about our partnership with Tencarva, which allows us to run a larger platform with the benefit of scale as we grow our business. Tencarva introduces us to a broader customer and vendor base and enhances our service capabilities in addition to improving back-office efficiencies.”

About Tencarva Machinery Company

Tencarva was founded in Greensboro, North Carolina in 1978 with the mission of providing pumps and associated liquid handling equipment to industrial customers. Tencarva has increased its capabilities, added new suppliers, expanded geographies and enhanced its product portfolio, entering the municipal market in 2006. Today, Tencarva employs over 380 employees, including over 100 employee shareholders, across 28 locations in the Southeast. Tencarva also goes to market under the following brands throughout the Southeast: Southern Sales, Saladin Pump & Equipment, Hudson Pump & Equipment, ESSCO Service & Sales, and Uniguard Machine Guards. For more information, please visit https://www.tencarva.com.

About Fischer Process Industries

Fischer Process Industries is a leading distributor of pumps, valves, and process equipment servicing Ohio, Indiana, Kentucky, West Virginia and Georgia. With a 30,000 sq. ft. headquarters located in Loveland, Ohio, Fischer Process Industries also has 10,000 sq. ft. locations in Alpharetta, Georgia covering the southeast; Owensboro, Kentucky covering Central & Western Kentucky and Southern Indiana; and Marietta, Ohio covering West Virginia, Southeast Ohio, and Eastern Kentucky. All locations offer full applications engineering capability and complete repair and service centers for rotating equipment and liquid handling equipment. For more information, please visit https://www.fischerprocess.com.

About Bessemer Investors

Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer’s partners and the flexibility to maximize long-term value. For further information, please visit https://www.bessemerinvestors.com.

 

Contact:

Joanne Lessner
Lambert
212-222-7436
jlessner@lambert.com

July 13, 2022

Bessemer Investors LLC (“Bessemer”), a New York-based investment firm, announced today that it has made a strategic investment in RotoCo, LLC (“RotoCo” or the “Company”) headquartered in North San Diego County, CA. RotoCo is the largest franchisee of the Roto-Rooter Plumbing and Drain Service in the US and Canada, with branches and franchises in California from Sacramento to San Diego. Bessemer is partnering with RotoCo’s existing management team, including Founder and CEO, Jim Holcomb, and President, Brian McCann, who will both continue to lead the Company in their current roles. Financial terms of the transaction were not disclosed.

For decades, Roto-Rooter and its franchisees have been some of the nation’s largest and most trusted providers of plumbing and drain cleaning services for both residential and commercial customers, and currently provide service coverage to 90% of the US population and 40% of Canada. Bessemer invested in RotoCo in support of the Company’s continued growth, both organically and through strategic acquisitions.

Mr. Holcomb said, “We are delighted to join with Bessemer in the expansion of our business. We have significant opportunity to continue growing the business as we have successfully done since its founding and are excited to work alongside Bessemer through our next phase of business growth.”

“Our skilled service technicians provide unmatched service to our customers and the Roto-Rooter name is synonymous with quality,” said Mr. McCann. “Bessemer’s support will help expand our operational capabilities and provide additional resources and opportunities to our team internally.”

“We are excited to be partners with Bessemer whose long-term, flexible capital base will allow us to accelerate our expansion while focusing on long-term value creation,” said Martin Szumski, Chief Financial Officer at RotoCo.

Bohdan Tyshynsky, Vice President at Bessemer, said, “RotoCo is a proven leader in residential plumbing services with an excellent operational team and a systematic model and approach to providing its services. RotoCo has a long and successful history of growing both organically and through acquisitions, and we look forward to supporting Jim, Brian and the management team as they continue to build a great platform. Plumbing and drain cleaning services have been resilient during changing economic cycles, and we anticipate growth as homeowners increasingly outsource their home services and from the rising plumbing maintenance requirements of the nation’s aging housing stock.”

The Bessemer team included David BarrAndrew MendelsohnBohdan Tyshynsky, and Joe Middleman.

BofA Securities, Inc. served as financial advisor to RotoCo, while DLA Piper and SkarlatosZonarich served as legal counsel. Cowen served as financial advisor to Bessemer Investors, while Akin Gump Strauss Hauer & Feld LLP served as legal counsel. Audax Private Debt and Treeline Capital Partners are providing debt financing for the transaction.

About RotoCo Inc.

Founded in 1974 by Jim Holcomb, RotoCo is a family-owned business and the largest franchise partner of Roto-Rooter Plumbing and Drain Service. RotoCo operates under the Roto-Rooter brand in San Diego CountyLos Angeles County, The Inland Empire, The County of Santa BarbaraMonterey County, California’s entire Central Valley region, and north beyond Sacramento County. RotoCo continually invests in its people and technology to offer best-in-class services to both commercial and residential property owners, and has grown into the leading plumbing, drain and flood restoration company in California. For more information, please visit http://www.RotoRooterca.com.

About Bessemer Investors

Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer’s partners and the flexibility to maximize long-term value.

December 20, 2021

New Platform Provides Flavors for Pet Medicines and Supplements

MELBOURNE, Fla.Dec. 20, 2021 /PRNewswire/ — Pet Flavors, LLC (“Pet Flavors” or the “Company”), a market-leading producer of pharmaceutical grade flavor bases and palatants used in chewable pharmaceuticals for pets, and Bessemer Investors LLC (“Bessemer”), a New York-based investment firm, announced today that Bessemer has made a significant investment in Pet Flavors. Bessemer is partnering with the Company’s founder, Mark Pieloch, who will remain with the Company as its President. Financial terms of the transaction were not disclosed.

Bessemer intends to establish Pet Flavors as its platform investment in the companion animal health industry.

Mr. Pieloch said, “We are very pleased to be partnering with Bessemer as we move toward the next stage in our growth. The Bessemer team is aligned with our values, and we believe their long-term and flexible approach will help us expand into additional products while continuing to strengthen our alliances with pharmaceutical and nutraceutical companies all over the world. We are proud of our role in keeping pets healthy and their owners happy.”

Founded in 1990, Melbourne, FL-based Pet Flavors provides flavor bases used in pharmaceutical and nutraceutical products consumed by pets. The flavor bases contain high-quality U.S.-sourced ingredients and are made exclusively at the Company’s USDA-licensed Melbourne facility. The flavor bases are tested by independent U.S.-based FDA/USDA approved laboratories to ensure that all physical, chemical and microbiological specifications are met and stability testing is consistently updated. Pet Flavors’ palatants are utilized by top animal health drug manufacturers in their FDA-approved pet medications due to the Company’s superior customer service, quality of production, and product palatability. In addition to its market-leading PC-0125 artificial beef product, the Company offers a variety of other flavors, including a newly developed hypoallergenic and vegan base flavor.

Andrew Mendelsohn, Principal at Bessemer, said, “Pet parents want the experience of giving their pets medication to be as seamless as possible, which makes flavoring a key component of that relationship. Pet Flavors’ commitment to quality and execution as well as its strong relationships with top animal health and supplement companies have helped it establish a reputation as the leading manufacturer of flavor bases. We are excited to team with Mark and the Company to build on their 30-year history of market leadership, innovation and partnership with the leading global animal health companies.”

Capitalmind served as M&A advisor to Pet Flavors, while Greenberg Traurig, LLP served as legal counsel. Lincoln International served as advisor to Bessemer Investors, while Akin Gump Strauss Hauer & Feld LLP served as legal counsel. BMO is leading the debt financing for the transaction.

About Pet Flavors

Based in Melbourne, Florida, Pet Flavors produces pharmaceutical grade flavor bases used in pharmaceuticals and nutritional supplement products consumed by pets. Using only high-quality U.S.-sourced ingredients, the company’s flavor bases are preservative free, grain free, and contain no artificial coloring. The flavors are made exclusively at Pet Flavors’ USDA-inspected and approved Melbourne facility and are tested by an independent U.S.-based FDA/USDA approved laboratory to guarantee that all physical, chemical and microbiological specifications are met. Pet Flavors’ flavor bases are sold in the U.S., CanadaEuropeIndiaBrazil, and Mexico.

About Bessemer Investors

Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer’s partners and the flexibility to maximize long-term value. For further information, please visit https://www.bessemerinvestors.com.

November 18, 2021

GREENSBORO, N.C.Nov. 18, 2021 /PRNewswire/ — Tencarva Machinery Company (“Tencarva” or the “Company”), the Southeast’s premier value-added distributor of flow control and process equipment solutions and services to the industrial and municipal end-markets, and Bessemer Investors LLC (“Bessemer”), a New York-based investment firm, announced today that Bessemer has agreed to make a significant investment in Tencarva. Bessemer will partner with Tencarva’s existing management team, including President Ed Pearce, who will continue leading the Company, to support the Company’s growth. Financial terms of the transaction were not disclosed.

Mr. Pearce commented, “We are very pleased to have established this partnership with Bessemer and are confident that they are a great steward to retain our culture and lead our business into the future. Bessemer understands our vision and recognizes the value of our industry-leading employees, including over 100 employee equity owners in the business who will retain significant stakes going forward. We believe Bessemer’s values and longer-term, more flexible capital base is the right match for our employee-owned business and will assist us in our next phase of growth.”

With over 350 employees across 28 locations in the Southeast, Tencarva provides high quality flow control and process equipment solutions and services on behalf of its industry-leading original equipment manufacturer (“OEM”) partners. Tencarva focuses on providing top-quality equipment and best-in-class repair and support services to both industrial and municipal end-customers.

Andrew Mendelsohn, Principal at Bessemer, said, “We are excited to partner with Tencarva and build on their 40-year history of growth, strong execution and long-term partnerships with their OEM partners. Tencarva’s highly skilled salesforce of degreed engineers and repair service providers is a unique differentiator within the industry. Their business sits at the intersection of two of our key investment areas of focus: value-added distribution and flow control, and our capital base offered the Company an attractive alternative to traditional private equity.”

Wells Fargo served as financial advisor to Tencarva, while Schell Bray served as legal counsel. William Blair served as financial advisor to Bessemer Investors and Akin Gump Strauss Hauer & Feld LLP served as legal counsel. Barings is leading the debt financing for the transaction.

The transaction is expected to close prior to year-end 2021.

About Tencarva Machinery Company

Tencarva was founded in Greensboro, North Carolina in 1978 with the mission of providing pumps and associated liquid handling equipment to industrial customers. Tencarva has increased its capabilities, added new suppliers, expanded geographies and enhanced its product portfolio, entering the municipal market in 2006. Today, Tencarva employs over 350 employees, including over 100 employee shareholders, across 28 locations in the Southeast. Tencarva also goes to market under the following brands throughout the Southeast: Southern Sales, Saladin Pump & Equipment, Hudson Pump & Equipment, ESSCO Service & Sales, and Uniguard Machine Guards. For more information, please visit https://tencarva.com.

About Bessemer Investors

Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer’s partners and the flexibility to maximize long-term value. For further information, please visit https://www.bessemerinvestors.com.

August 9, 2021

Establishes Exterior Services Platform with a Leader in Restoration and Remodeling Services

PLYMOUTH, Minn.Aug. 9, 2021 /PRNewswire/ — Legacy Restoration (“Legacy” or the “Company”), a leading provider of exterior restoration and remodeling services, and Bessemer Investors LLC (“Bessemer”), a New York-based investment firm, announced today that Bessemer has acquired Legacy. Bessemer has partnered with Legacy’s management team to provide liquidity to selling shareholders and capital to support the Company’s growth through organic initiatives and acquisitions. Founder and CEO, Scott Mullins, and Legacy’s management team will continue leading the Company as a stand-alone platform. Financial terms of the transaction were not disclosed.

Mr. Mullins commented, “We are pleased to have established this partnership with Bessemer and their team. Legacy Restoration has achieved remarkable growth in its 10-year history, and we feel confident the Bessemer/Legacy partnership will enable us to continue this trend. The transaction will also have a positive impact on the Legacy family, our customers, and the communities we serve.”

Andrew Mendelsohn, Principal at Bessemer, said, “We are excited to partner with Legacy and to continue building on their track record of growth. Led by an experienced management team, Legacy is an industry leader with a reputation for high quality service and conducting business with integrity. We see numerous growth avenues for Legacy, whether through geographic and end market expansion, or through strategic M&A opportunities, and look forward to supporting Scott and the management team through the next phase of growth.”

Waller Helms Advisors served as financial advisor to Legacy, while Hellmuth & Johnson served as legal counsel. Piper Sandler & Co. served as financial advisor and Akin Gump Strauss Hauer & Feld LLP served as legal counsel to Bessemer Investors. Capstone Headwaters served as capital markets advisor and Tree Line Capital Partners and Bridge Bank, a division of Western Alliance Bank, provided debt financing for the transaction.

About Legacy Restoration

Founded in 2011, Legacy Restoration is a leading provider of restoration and remodeling services, including roofing, windows, siding, and gutters to the residential and commercial markets. The Company is headquartered in Plymouth, Minnesota and also has offices in Lombard, Illinois and Centennial, Colorado. Legacy is among few players of scale with significant restoration expertise, both insurance and retail, a reputation for high quality products and services, and focus on serving local markets. For further information, please visit https://www.legacyrestorationllc.com/.

About Bessemer Investors

Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer’s partners and the flexibility to maximize long-term value. For further information, please visit https://www.bessemerinvestors.com/.