HIG Capital to sell industrial services firm JT Thorpe to Truelink Capital
- JT Thorpe operates out of more than 30 locations across North America, services over 1,100 active customers, and generates revenues in excess of $1 billion
- Kevin Howard serves as CEO of JTT
- JT Thorpe was founded in 1906
HIG Capital has agreed to sell JT Thorpe, a Salt Lake City-based provider of thermal management and asset integrity services to critical industrial infrastructure, to Truelink Capital. No financial terms were disclosed.
HIG acquired JT Thorpe in 2022.
JT Thorpe operates out of more than 30 locations across North America, services over 1,100 active customers, and generates revenues in excess of $1 billion.
Kevin Howard serves as CEO of JTT.
On the deal, Matt Gullen, managing director at HIG, commented, “Kevin and the JTT management team have done an outstanding job transforming the Company into the leading provider of thermal management and asset integrity services across North America. Their hard work and disciplined execution have driven strong growth, and we are proud to have supported them through this pivotal phase.”
Goldman Sachs and Harris Williams LLC were co-lead financial advisors to JT Thorpe, and McDermott Will & Schulte LLP represented H.I.G. Capital and JT Thorpe as legal counsel in connection with the transaction.
The transaction is expected to close in August 2026.
JT Thorpe was founded in 1906.
In March, PE Hub senior reporter Michael Schoeck reported that HIG Capital was retaining an investment bank for the sale of JT Thorpe, which generated about $150 million of prior-year EBITDA.
