Tencarva Secures Detroit Pump & Mfg. Co. Acquisition
Deal News | Jan 09, 2025 | Bessemer Investment Management LLC
Tencarva Machinery Company, a company supported by Bessemer Investment Management LLC, has successfully acquired Detroit Pump & Mfg. Co. This acquisition allows Tencarva to expand its operations into the Upper Midwest region. Tencarva, known as a full-service distributor and service provider, will leverage Detroit Pump's capabilities to enhance its service offerings and market reach. Bessemer's backing indicates strategic growth initiatives focused on geographical expansion through key acquisitions.
Sectors
- Industrial Equipment Distribution
- Private Equity
Geography
- United States – The transaction and the companies involved are based in the United States, with a focus on expanding operations in the Upper Midwest region.
Industry
- Industrial Equipment Distribution – Tencarva Machinery Company and Detroit Pump & Mfg. Co. are involved in the distribution and servicing of industrial equipment, which is the primary industry focus of this transaction.
- Private Equity – Bessemer Investment Management LLC, as a backer of Tencarva, represents the private equity industry's involvement in facilitating acquisitions and business expansions.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tencarva Machinery Company | Acquirer | Company | A full-service distributor and service provider in the industrial equipment sector. |
| Bessemer Investment Management LLC | Private Equity Backer | Company | A private equity firm providing financial backing and support for Tencarva's expansion strategies. |
| Detroit Pump & Mfg. Co. | Target | Company | A company involved in the manufacturing and distribution of pump equipment, acquired by Tencarva. |