Watermill Group purchases Tenere, Inc.
The Watermill Group, a private investment firm, recently announced the acquisition of Tenere, Inc., a full-service designer and fabricator of complex metal and plastic components and assemblies, from Stonehenge Partners, Inc.
"Watermill was attracted to the engineering sophistication at Tenere," said Watermill Group Partner Robert Ackerman. "Tenere's outstanding process engineering, rapid prototyping and in-house ability to create complex tools, dies and molds help companies gain precious time-to-market advantages in making fast-changing, high-performance products."
Tenere's engineering expertise and adaptable manufacturing processes enable the company to partner with manufacturers during all stages of the product life cycle, from concept development through commercial assembly and integration.
"Watermill will provide the strategic direction, operating support and other resources that Tenere needs to solidify its position as an advanced manufacturing leader," said Steven E. Karol, the managing partner at Watermill.
To meet rising demand for custom fabrication services, Tenere is adding state of the art equipment to increase manufacturing capacity and is expanding production at its newest facility in St. Croix Falls. Tenere will also bring on a new CEO and expects to hire as many as 100 employees within the next year.
"I believe Tenere's potential is limitless," said Jon Fisk, Tenere's chief operations officer. "We're approaching a critical phase in the growth of our company, and Watermill is the right partner to help us expand and scale to the needs of our customers."
Tenere, Inc. makes advanced, customized components from metal and plastic for companies with highly demanding, fast-changing product needs. Founded in 1966, the company operates in Dresser; St. Croix Falls; Somerset; and Lakewood, Colo.