H.I.G. Capital Announces Agreement to Sell JT Thorpe
H.I.G. Capital has signed a definitive agreement to sell its portfolio company, JT Thorpe (JTT), to an affiliate of Truelink Capital. The transaction is expected to close in August 2026 and follows four years of H.I.G.'s ownership since 2022 during which JTT expanded operations across North America through strategic acquisitions and enhanced market presence. JT Thorpe, a leading provider of technical solutions for critical infrastructure including refractory materials and insulation services, operates from over 30 locations in the U.S. with revenues exceeding $1 billion annually. The company has grown significantly under H.I.G.'s support by expanding its service offerings and geographic reach while maintaining strong financial performance. Kevin Howard, CEO of JTT, praised the team's efforts and expressed gratitude for H.I.G.’s partnership. Matt Gullen from H.I.G. highlighted the transformation led by management into a leading provider in thermal management services across North America.
Topics: Company Acquisition Industrial Services Private Equity