NEW YORK — GenNx360 Capital Partners, a private equity firm investing in middle-market business services and industrial companies, announced Sept. 23 that it has partnered with Eben Lenderking, a leader in process & flow control solutions distribution, to build a market-leading company. Founded in 2006, GenNx360 has a proven history of successfully identifying and partnering with prominent leaders in the industrial sector to source, acquire and build successful companies through a combination of strategic acquisitions as well as organic growth. GenNx360 has $1.8 billion in capital under management and will invest in this strategy from GenNx360 Capital Partners III.
“We are excited to partner with Eben to build a world-class process & flow control solutions provider,” said GenNx360 Managing Partner, Monty Yort. “Eben has an exceptional track record in the sector, including his role as CEO of Harrington Industrial Plastics, where he transformed the company and increased EBITDA by 80 percent over a four-year period. Eben is well-respected in the industry for his expertise, strategic vision and M&A acumen, making him an ideal partner for GenNx360 and our proactive initiative in this sector.”
Eben Lenderking says, “GenNx360 has a proven track record along with a differentiated approach. They have a true appreciation for the value of organic growth and people-driven businesses. I look forward to building an industry leader with them using a more flexible and sophisticated economic model, one that is free from legacy infrastructure, based on value-added products and services and a bold, venturing partnership with visionary and entrepreneurial business leaders.”
Eben Lenderking is an industry veteran in the process & flow control solutions industry. He most recently served as the CEO of Harrington Industrial Plastics, a PE-backed $300 million value-add distributor of industrial plastic piping for corrosive and high purity applications, from 2016 to 2020. The company supplies pipes and fittings, piping accessories, instrumentation, tubing and hoses, pumps, tanks, and other flow control related accessories. During his tenure, top-line revenue grew at three times that of the industry and EBITDA grew at nearly 20% annually. In 2019, he led the company through a successful carve-out from Aliaxis at an industry-leading multiple. Eben also served as the Divisional COO of Aliaxis Ventures, a division of the €2.7 billion ($3.17 billion) publicly-held manufacturer and distributor of piping products and systems, from 2016 to 2018. In this role, he had P&L responsibility for a €500 million ($587 million) portfolio of companies which included Harrington Industrial Plastics and Friatec Technical Ceramics. Before joining Aliaxis, Eben focused on a variety of different strategic advisory roles where he acted as interim-CEO and led a variety of restructurings, advised companies on organizational development, and helped to turnaround and position them for long-term growth.
GenNx360 Capital Partners is a private equity firm with $1.8 billion in capital under management focused on acquiring middle-market business services and industrial companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to accelerate growth, deliver cost efficiencies, and generate strong financial returns. Select targeted sectors include Repair & Maintenance Services, Automation & Industrial Technology, Process & Flow Control Solutions/Supply Chain, Packaging Products/Equipment/Services, Testing/Environmental Equipment/Services, and Food Ingredients/Equipment/Services. GenNx360 was founded in 2006 and is headquartered in New York City.