Truelink Capital Acquires JT Thorpe Group

Truelink Capital, a private equity firm based in Los Angeles, has completed its acquisition of JT Thorpe Group, a leading provider of mission-critical specialty industrial maintenance and thermal management services. The transaction, involving a significant ownership stake retained by JT Thorpe's management team, marks the third platform investment for Truelink Capital's Fund II.

Founded in 1906, JT Thorpe Group is headquartered in Salt Lake City, Utah. The company offers a comprehensive suite of thermal management services, including refractory, fireproofing, and insulation, as well as asset integrity services such as access and mechanical support. With a network of over 30 locations and a team of skilled craft professionals, JT Thorpe serves a long-tenured, blue-chip customer base across various industries, including power generation, semiconductor, LNG, mining, steel, cement, and infrastructure.

Kevin Howard, CEO of JT Thorpe Group, expressed his enthusiasm about the partnership. "I'm proud of what our team has built, and I'm excited about where we're headed with Truelink's support," he said. "Truelink shares our commitment to sustained growth, safety, and operational excellence, and I'm looking forward to what we can build together."

Luke Myers, Co-Founder and Managing Partner at Truelink Capital, echoed Howard's sentiments, stating, "We see a long runway for JT Thorpe, both organically and through strategic M&A. 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."

This acquisition aligns with Truelink Capital's strategy of partnering with industry-leading companies in the industrials and business services sectors. The transaction underscores the firm's commitment to long-term value creation and operational excellence.

Financial terms of the deal were not disclosed. Goldman Sachs and Harris Williams served as financial advisors to JT Thorpe in connection with the transaction.

Truelink Capital, managing over $4 billion of assets under management, is known for its deep industry experience in the industrials and business services sectors. The firm pairs this experience with a strategy focused on building partnerships that drive long-term value through the execution of strategic initiatives and transformative add-on acquisitions.

JT Thorpe Group, with its 120-year reputation for safety and technical excellence, is poised to continue its growth under Truelink Capital's support.