Tenacore acquired by investor group

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Tenacore acquired by investor group

Press releases may be edited for formatting or style | February 13, 2020 Business Affairs
Santa Ana, CA –February 13, 2020 An investor group led by The Courtney Group, Incorporated has acquired the medical device repair and service business of Tenacore Holdings, Inc. based in Santa Ana, California. Tenacore repairs and services medical devices and sells new and used medical equipment, including patient monitors, infusion pumps, portable ventilators, and telemetry transmitters.

Investors in the transaction include The Courtney Group, Centerfield Capital Partners and Jim Willett, a seasoned healthcare executive whom The Courtney Group recruited to join Tenacore as CEO. Mr. Willett brings relevant experience in the manufacture and design of medical devices as well as the outsourced management of hospital equipment. Peter Bonin and Brand Caso, who founded Tenacore in 2000, will continue to retain significant ownership in the company.

“Tenacore has established a reputation for excellent work and fast turnaround times,” said Jim Willett, the company’s newly appointed CEO. “Our plan will be to maintain that commitment to quality and service as we seek to grow our business geographically.”

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Partners Tom Courtney, Ed McKenna and Alan Macksey of The Courtney Group led the transaction and will serve on the board of Tenacore.

“We are looking forward to our partnership with Jim Willett, an accomplished executive who has built and managed successful businesses, in addition to the strong team Peter Bonin and Brand Caso have built at Tenacore,” said Tom Courtney.

Mr. Courtney, founder of The Courtney Group, has invested in or served as an advisor to many companies, including those in the clinical laboratory, healthcare IT, medical device and pharmaceutical sectors. Dr. McKenna was previously Chief Scientist and Engineer at Covidien, where he was responsible for the development of innovative medical devices. Mr. Macksey has extensive experience in acquiring and growing middle market companies, including those providing repair and maintenance, testing and compliance, telemedicine and healthcare services.

“Tenacore has an impressive and highly skilled team in place,” said Mr. Willett. “As we execute our strategic growth plan, we intend to expand and complement the existing team, with the goal of providing an increased breadth of products and services to our customers. We look forward to pursuing growth opportunities that the company did not previously have the resources to pursue.”

Terms of the transaction were not disclosed.


About Tenacore
Tenacore is an ISO 13485:2016 certified medical device service and repair company that operates across all 50 states. It has been providing repair and maintenance to hospitals for the last 20 years. For more information please visit www.tenacore.com.


About The Courtney Group, Inc.
The Courtney Group, Incorporated is a private equity investment firm based in Newport Beach, California. Since 1999 the firm has acquired or invested in 21 companies. The Courtney Group seeks to invest in companies with revenues of $10 million to $500 million, cash flow of $2 million to $50 million, with equity investments of $1 million to $200 million. Targeted industries include business services, consumer, chemical, financial services, healthcare, manufacturing, and technology.The Courtney Group has a focus on working with founders of businesses to help them meet their goals. For further information please visit www.thecourtneygroup.com.


About Centerfield Capital Partners
Centerfield Capital Partners is a national provider of mezzanine debt and equity financing to lower middle market companies. Located in Indianapolis, Indiana, Centerfield is currently investing from its fourth fund with commitments of $335 million and leads junior capital investments of $7 million to $35 million. For more information please visit www.centerfieldcapital.com.


For additional information contact:
Ms. Tara Stack
VP Sales and Operations
Tenacore, LLC
1525 East Edinger Avenue | Santa Ana| California 92705
(800) 297-2241Tel
Tara.stack@tenacore.com
www.tenacore.com

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