Since acquiring the business in 2022, H.I.G. Capital oversaw an expansion strategy that included four accretive acquisitions and a broader geographic footprint across North America. JT Thorpe, which traces its roots back to 1906, currently operates from more than 30 locations, providing specialized refractory, fireproofing, and mechanical solutions to over 1,100 active customers. The transaction is expected to close in August 2026, subject to customary closing conditions.
In section Releases
H.I.G. Capital to Sell Industrial Services Firm JT Thorpe
With annual revenues exceeding $1 billion, the Salt Lake City-based industrial services provider JT Thorpe is changing hands. H.I.G. Capital has signed a definitive agreement to sell the company to an affiliate of Truelink Capital, marking the conclusion of a four-year investment cycle for the Miami-based private equity firm.
Kevin Howard, CEO of JT Thorpe, credited the firm’s growth to the dedication of its workforce and the strategic support provided by H.I.G. during their partnership. Matt Gullen, a managing director at H.I.G., noted that the management team successfully transformed the company into a leader in thermal management and asset integrity services. Financial advisory for the sale was handled by Goldman Sachs & Co. LLC and Harris Williams LLC, while McDermott Will & Emery provided legal counsel to the parties involved.
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