Truelink Capital Acquires Industrial Maintenance Leader JT Thorpe Group
-
Click here to listen to this article - Share via
Truelink Capital, a Los Angeles-based private equity firm focused on growth and long-term value creation, acquired JT Thorpe Group Inc., a North American provider of mission-critical specialty industrial maintenance and thermal management services supporting infrastructure and industrial end markets. JT Thorpe’s management team, led by Chief Executive Kevin Howard, will continue to lead the business and will retain a significant ownership stake in the company. Financial terms of the transaction were not disclosed.
“We see a long runway for JT Thorpe, both organically and through strategic M&A,” said Luke Myers, co-founder and managing partner at Truelink Capital, in a statement. “Kevin Howard and his team have built a business that is incredibly durable and hard to replicate, and we’re excited to officially kick off our partnership with them and together drive the next phase of growth.”
Founded in 1906 and headquartered in Salt Lake City, JT Thorpe provides a comprehensive suite of thermal management services, including refractory, fireproofing and insulation, as well as asset integrity services, such as access and mechanical, supporting the maintenance and operation of complex industrial facilities. With a network of more than 30 locations and a team of skilled craft professionals across North America, JT Thorpe serves a long-tenured, blue-chip customer base across the power generation, semiconductor, LNG, mining, steel, cement and broader infrastructure and industrial end markets. The company’s 120-year reputation for safety and technical excellence has made it a trusted partner on some of the most demanding maintenance and capital projects across the industries it serves.
“I’m proud of what our team has built, and I’m excited about where we’re headed with Truelink’s support,” said Kevin Howard, chief executive of JT Thorpe Group, in a statement. “Truelink shares our commitment to sustained growth, safety and operational excellence, and I’m looking forward to what we can build together.”
This transaction reflects Truelink’s continued focus on partnering with industry-leading companies in the industrials and business services sectors and marks the third platform investment for Truelink Capital’s Fund II.
Goldman Sachs and Harris Williams served as financial advisors to JT Thorpe in connection with the transaction.
Information for this story was provided by Truelink Capital.
