Custom Molded Products (CMP) has gained a new backer, following three years with investment firm PNC Riverarch Capital and co-investors Florida Capital Partners. The Newnan, Ga.-based manufacturer and its global residential spa, pool and bath manufacturing business is now backed by the private equity firm Tenex Capital Management.
According to management, CMP’s current executive team will remain in place, including co-founder, president, and CEO, William Drury.
“Tenex Capital Management offered the best possible pairing,” Drury said. “Tenex is positioned to invest in continued growth of all CMP brands, which will greatly benefit CMP employees, customers, vendors and the pool and spa industry,”
Tenex’s other holdings include firms specializing in industrials, manufacturing, and health and business services.
