Sun Capital Partners, Inc. (Sun Capital), a private investment firm focused on businesses in growing markets has announced that an affiliate has completed the acquisition of Verona, Italy-based TENAX. TENAX is a manufacturer of chemical products, abrasives and tooling for the treatment of natural stone, engineered stone and ceramic tiles.
The Sun Capital affiliate acquired a controlling stake in TENAX from the Bombana family who are reinvesting part of their proceeds from the sale. To celebrate this important achievement, the Bombana family has decided to award an extraordinary bonus to its 220+ employees worldwide, who have supported TENAX’s growth over the years.
“I am pleased to welcome Sun Capital to the TENAX family,” said Gino Bombana, President of TENAX. “Since TENAX was founded by my father in 1956, the business has grown significantly, and I am now proud to partner with Sun Capital to continue the family legacy and support the future growth of the business. While the business was born in Verona, an area with a strong heritage in natural stone production, it is today an internationally recognized brand with an international footprint. I believe that our management team, with the support and resources that Sun Capital can provide, will enable TENAX to strengthen and expand its market position and further leverage our leading ‘blue-chip’ brand.”
Sun Capital has extensive experience in founder and family-owned businesses, as well as the Italian market, where it is currently invested in VR Group (a global leader in glass front doors for the home appliance market) and Limonta Sport. In addition, an affiliate of Sun Capital recently acquired Architectural Surfaces Group, a leading U.S. importer and distributor of natural stone, engineered stone and tile slabs for residential and commercial applications.
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