Gemspring Capital Acquires Majority Stake in JTI Electrical & Instrumentation

Gemspring Capital Acquires Midland Industries

May 5, 2023

Industrial Services

Gemspring Capital Management affiliate has acquired Midland Industries, a Kansas City-based manufacturer and distributor of pipe, valve, and fitting products across North America. Existing investor Wynnchurch Capital sold a stake but retained a minority interest and coinvested alongside Gemspring; financial terms were not disclosed.

Gemspring Capital Sells Minority Stake in Sparkstone Electrical Group

June 17, 2024

Manufacturing

Gemspring Capital has completed the sale of its strategic minority investment in Sparkstone Electrical Group, a U.S.-based provider of power distribution products and services. Gemspring originally invested in January 2023 to support Sparkstone’s acquisition of IER Electric and to fund growth initiatives; the buyer was not disclosed in the announcement.

Gemspring Capital Acquires Mantis Innovation Group

December 16, 2021

Industrial Services

Gemspring Capital (via an affiliate) has acquired a majority interest in Mantis Innovation Group from O2 Investment Partners. Mantis, a Houston-based tech-enabled facility services provider focused on energy efficiency and building performance, will partner with Gemspring to accelerate platform growth, expand services, and pursue additional M&A.

Chicago Switchboard Acquires IER Electrical Equipment and Controls

January 18, 2023

Manufacturing

Chicago Switchboard, a portfolio company of Promise Holdings, acquired IER Electrical Equipment and Controls, a Houston-based manufacturer of custom electrical distribution and motor control solutions. Gemspring Capital (via its GGS I vehicle) made a strategic minority investment in Chicago Switchboard to support the add-on acquisition, which provides Chicago Switchboard a foothold in the Texas market; founder Mike Wolf sold the business.

Gemspring Capital Acquires Transport Investments, Inc. from Revelstoke Capital Partners

June 10, 2021

Transportation

Gemspring Capital Management (through an affiliate) has invested in Transport Investments, Inc., partnering with the company's executives while Revelstoke Capital Partners exited its investment. Transport is an asset-light heavy-haul, flatbed and specialized transportation and logistics provider operating across the United States and Canada and handles over 250,000 loads annually; Gemspring intends to support network expansion, capability enhancement and strategic add-on acquisitions.

Gemspring Capital Acquires Security 101

January 7, 2022

Professional Services

Gemspring Capital Management, through an affiliate, acquired a majority interest in Security 101, a national provider of commercial security system solutions. The partnership will keep Security 101's management in place and aims to accelerate geographic expansion, broaden service and technology offerings, and grow the company's client base across healthcare, education, financial and government end markets.