Tri-State's founder, David Thompson, will retire with the transaction, and the remaining management team and employees will continue to operate the business.
Ed Pearce, president of Tencarva, said: "Tri-State has flourished for 37 years under David's leadership, and our goal is to continue its tradition of providing high-quality specialty coatings and industrial services. Strategically located in Tencarva's footprint, Tri-State bolsters Tencarva's value-added service offerings, particularly through its unique thermal spray coating capabilities."
Tri-State offers the latest technological advances, state-of-the-art facilities, and rotating equipment repair capabilities. Its coating facilities feature technical systems and robotics to deliver coatings tailored to customer specifications, including fusion coatings, HVOF coatings, wire spray, plasma transfer arc, and metalizing.
Tencarva is backed by Bessemer Investors LLC, a New York-based investment firm.
“This marks Tencarva's second acquisition since Bessemer's partnership with the company in 2021, and the company's 14th overall,” added Bohdan Tyshynsky, a vice president at Bessemer. “The team’s commitment to providing best-in-class service to its customers has been the core focus of every stage of Tencarva’s history. We look forward to continuing to support Tencarva’s growth story.”
Tencarva says it continues to actively seek strategic partnerships with industry-leading industrial and municipal flow control and process equipment distribution and service companies.
