JENNMAR Acquires Majority Stake in Australian Steel & Wire

PITTSBURGH, May 29, 2024 /PRNewswire/ -- JENNMAR, a leading global provider of infrastructure products and specialized services to the civil, solar, mining, and construction industries and a FalconPoint Partners portfolio company, today announced its acquisition of a majority stake in Australian Steel & Wire Pty Ltd ("ASW"). A manufacturer of wire mesh and related products, ASW will build on JENNMAR's existing wire mesh expertise and expands its offering of cost-effective wire mesh and related products throughout APAC, Europe, and North America. This transaction builds on JENNMAR's recent growth and follows its partnership with FalconPoint Partners earlier this year.

ASW will be integrated into the JENNMAR Australia group of companies. Terms of the transaction were not disclosed.

ASW's extensive product range includes Galvanized and Stainless Steel Welded Mesh, Cut Wire, Wire Coils, 358 Security Mesh, Temporary Fencing Infill Panels, Barb Wire, Fencing Wire, Tie Wire, Hinge Joint Farm Fencing, and Dog Mesh supporting the building, industrial, mining, and rural farming industries.

"Richard has built a solid team and has many years of mesh manufacturing expertise to add to the JENNMAR group of companies.  We look forward to expanding ASW's capabilities and utilizing its low-cost operations in Malaysia to serve our growing international hard rock and soft rock base." – Tony Calandra, CEO of JENNMAR

"The integration of ASW into JENNMAR Australia cements the long-standing supply relationship we have had with ASW for many years. This deal not only secures our supply chain but demonstrates to our customers JENNMAR's commitment to quality, service, and sustained growth for the region. We are really looking forward to working alongside the team at ASW to unlock further technical and commercial benefits for all our stakeholders." – Gareth King, Managing Director of JENNMAR Australia

"ASW is excited to join the global JENNMAR business as a provider of high-quality mesh and wire products to an extended customer base around the globe. We see tremendous opportunity in working together as part of the JENNMAR team and the new growth this will bring to the ASW business." – Richard Sobey, CEO of ASW

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. JENNMAR Australia was established in 1997 and manufactures ground support products in New South Wales, Queensland and Perth. For more information, please visit www.jennmar.com.

About FalconPointFalconPoint is a private equity firm which invests in North American middle market companies in the business services and industrials sectors. The firm leverages a partnership-oriented approach and relationship-based sourcing strategy to identify and execute on idiosyncratic opportunities to acquire businesses that provide mission critical products and services. For more information, please visit www.falconpointpartners.com.

Contacts

JENNMAR Michelle EastlyMarketing Director, JENNMARmeastly@jennmar.com

FalconPointEd Trissel / Sarah SalkyJoele Frank, Wilkinson Brimmer Katcher212-355-4449FalconPoint-JF@joelefrank.com