WESTPORT, CT (November 15, 2023) – Gemspring Capital Management, LLC, a middle-market private equity firm, announced today that an affiliate has acquired Fenceworks, LLC, (“Fenceworks” or the “Company”), a fencing installer and distributor serving the nation’s largest homebuilders, as well as general contractors and local fencing providers. Financial terms of the transaction were not disclosed.
Founded in 1984, Fenceworks has approximately 500 employees and provides fencing installation services and wholesale distribution to single-family homebuilders, commercial customers, and local fencing providers in California. For nearly 40 years, Fenceworks has developed a deep expertise in wood, vinyl, iron, glass, and other high-quality fencing materials. The Company provides services across the entire project lifecycle, including engineering and design, procurement, prefabrication, and installation.
Jason Ostrander, CEO of Fenceworks, commented, “We are excited to partner with Gemspring during this next phase of growth for Fenceworks. Gemspring’s understanding of construction services and experience partnering with founder-owned businesses will be invaluable in helping us achieve our long-term goals as we expand our geographic footprint, further invest in our team, and continue to serve our customers with the highest commitment to quality and service.”
Geoff Broglio, Managing Director at Gemspring, said, “We are impressed by Fenceworks’ long-standing relationships with premier homebuilders, and we believe the Company is well positioned as the industry continues to address the national housing shortage. We are excited to partner with Jason and the rest of the management team to continue providing exceptional customer service, expand the markets we serve, and pursue strategic acquisitions.”
Lincoln International served as financial advisor to Gemspring, and Kirkland & Ellis served as legal advisor.
About Fenceworks
Based in Riverside, CA, Fenceworks is a leading fencing installer and distributor serving the nation’s largest homebuilders as well as general contractors and local fencing providers. Over nearly 40 years, the Company has developed expertise in wood, vinyl, iron, glass and other high-quality fencing materials, which it installs with crews based out of 15 locations across California and distributes to commercial customers. For more information, visit www.fenceworks.us.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $3.5 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. For more information, visit www.gemspring.com.