H.I.G. Capital Signs Definitive Agreement to Sell JT Thorpe
H.I.G. Capital agreed to sell industrial infrastructure services provider JT Thorpe to an affiliate of Truelink Capital, capping a four-year investment that included four add-on acquisitions.
MIAMI, July 30, 2026. H.I.G. Capital, a leading global alternative investment firm with $75 billion under management, announced that one of its affiliates has signed a definitive agreement to sell portfolio company JT Thorpe to an affiliate of funds managed by Truelink Capital. The transaction is expected to close in August 2026.
Founded in 1906 and headquartered in Salt Lake City, Utah, JT Thorpe provides refractory, fireproofing, insulation, mechanical, and access solutions for critical infrastructure. The company operates from over 30 North American locations, serves more than 1,100 active customers, and generates revenues exceeding $1 billion.
Since H.I.G.'s investment in 2022, JT Thorpe has expanded its service offerings and geographic footprint, completed four accretive acquisitions, and strengthened its market position.
"Their commitment has made us a trusted partner to customers across North America. H.I.G. has been an exceptional partner over the past four years," said Kevin Howard, CEO of JT Thorpe.
"Kevin and the JTT management team have done an outstanding job transforming the Company into the leading provider," said Matt Gullen, Managing Director at H.I.G. Capital.
Goldman Sachs & Co. LLC and Harris Williams LLC served as co-lead financial advisors. McDermott Will & Schulte LLP provided legal counsel.
About JT Thorpe
JT Thorpe is a leading provider of integrated thermal management and asset integrity services to critical industrial infrastructure across North America, delivering comprehensive technical solutions since 1906. Visit jtthorpegroup.com for more information.
About H.I.G. Capital
H.I.G. Capital specializes in providing debt and equity capital to middle-market companies through management buyouts, recapitalizations, corporate carve-outs, senior and junior debt financing, real estate investments, and infrastructure investments. Since 1993, H.I.G. has invested in and managed more than 400 companies. Learn more at hig.com.
SOURCE H.I.G. Capital, LLC