December 14, 2021

Willkie advised Tenex Capital Management in the transaction.

On December 13, Tenex Capital announced the sale of AquaCentral, the second-largest distributor of pool equipment and supplies in the U.S., to Heritage Pool Supply Group, a platform within SRS Distribution, a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners.

As part of the transaction, Tenex and the other AquaCentral shareholders will receive a minority equity interest in SRS Distribution alongside the existing ownership group.

Tenex Capital Management is a private equity firm that invests in middle market companies. Tenex has successfully invested in a diverse range of industries, including industrials, manufacturing, automotive aftermarket, and health and business services.

The Willkie team was led by partners Matthew Rizzo and Eric Halperin and included associates Annie Heiss, Thomas Merante and Elizabeth Lebens.