TRM Equity Acquires Assets of Innovative Hearth Products
January 26, 2023
TRM Equity II, a Michigan-based private equity firm, acquired substantially all of the assets of Innovative Hearth Products (IHP) on January 26, 2023. IHP is a manufacturer of indoor and outdoor fireplaces, stoves, gas logs, inserts, venting products and accessories with production facilities in Russellville, Alabama and Auburn, Washington; it generated about $87 million of revenue in 2022 and employs approximately 350 people.
- Buyers
- TRM Equity II (TRM Equity)
- Targets
- Innovative Hearth Products
- Industry
- Building Products
- Location
- Alabama, United States
- Transaction Type
- Buyout
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