ALBUQUERQUE, N.M., April 18, 2016 /PRNewswire/ -- An affiliate of Tenex Capital Management, an operationally focused private equity firm with more than $1.25 billion under management, has acquired Unirac, Inc., a market leading solar racking manufacturer, from Hilti.
Headquartered in Albuquerque, NM, Unirac was founded in 1998 and has established itself as the leading provider of high quality, competitive PV mounting solutions in North America. With over 15 years of customer service, Unirac is fast approaching 5GW of experience with more than 500,000 installations worth of knowledge. Unirac's portfolio of products serves all key segments within the solar landscape, including: residential, commercial and utility.
"This is another important milestone for Unirac, which demonstrates our success in developing products with services that help our customers lower the total cost of solar power," said Peter Lorenz, Unirac CEO. "I am proud of the legacy our employees have built over the last few years with their entrepreneurial spirit and passion for creating enthusiastic customers." Peter also expressed, "We are excited to partner with Tenex, with their ability to foster our plans to capitalize further on business opportunities within the marketplace."
J.P. Bretl, a Managing Director of Tenex Capital Management, stated, "In Unirac, we are fortunate to have acquired a market leading PV mounting solutions provider. We look forward to building on Unirac's history and supporting the management team in implementing their growth plans."
Greentech Capital served as the advisor to Unirac in this transaction.
About Tenex Capital Management
Tenex Capital Management is a private equity firm that invests in middle-market companies. Tenex uses an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex's deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including industrials, manufacturing, and health and business services. For additional information, please visit www.tenexcm.com.
Unirac is a leading manufacturer of solar racking in North America. Recognized for our excellence in product development, we provide the best mounting solutions to our customers through competitively priced products, responsive customer support, integrated technology solutions, robust engineering services, certified quality, and supply-chain excellence. With over 15 years of customer service, Unirac is fast approaching 5GW of experience with more than 500,000 installations worth of knowledge; partnering with Unirac leverages experience that makes a difference. For additional information, please visit www.unirac.com.
Media Contact: Charles Lubecke
Sr. Marketing Project Manager
1411 Broadway Boulevard NE
Albuquerque, NM 87102
SOURCE Unirac, Inc.