Gemspring Capital

• Amplix Acquires OneConnect Inc

  July 17, 2026

  Buyer

  Amplix, Gemspring Capital

  Target

  One Connect, Inc. (OneConnect)

  Industry

  IT Services

  Location

  United States

  Type

  Addon

  Amplix, a technology advisory services platform backed by Gemspring Capital, announced its acquisition of One Connect, Inc. The deal is intended to strengthen Amplix’s technology procurement and lifecycle management capabilities by adding OneConnect’s independent sourcing and vendor-management expertise. Terms were not disclosed.

• Gemspring Capital Makes Minority Investment in Comoto Holdings

  June 9, 2026

  Buyer

  Gemspring Capital Management, LP

  Target

  Comoto Holdings, LLC

  Seller

  Prospect Hill Growth Partners

  Industry

  Retail

  Location

  Pennsylvania, United States

  Type

  Growth capital

  Gemspring Capital Management made a strategic minority investment in Comoto Holdings, an omnichannel motorcycle aftermarket platform operating brands including Cycle Gear, RevZilla, and J&P Cycles. Existing majority shareholder Prospect Hill Growth Partners retains its ownership position, and the deal terms were not disclosed.

• Gemspring Capital Acquires Comoto Holdings (RevZilla, Cycle Gear and J&P Cycles)

  June 9, 2026

  Buyer

  Gemspring Capital

  Target

  Comoto Holdings

  Seller

  Comoto's previous backers and management team (not named)

  Industry

  Retail

  Location

  Connecticut, United States

  Type

  Buyout

  Gemspring Capital acquired Comoto Holdings, the parent company of RevZilla, Cycle Gear, and J&P Cycles, in a transaction valued north of $400 million. The deal closed in early January and positions Gemspring to pursue a buy-and-build roll-up strategy in the fragmented powersports aftermarket.

• Shrieve Chemical Company Acquires Vertec BioSolvents

  April 23, 2026

  Buyer

  Shrieve Chemical Company, Gemspring Capital

  Target

  Vertec BioSolvents

  Industry

  Industrial Services

  Location

  Illinois, United States

  Type

  Buyout

  Shrieve Chemical Company, a Gemspring Capital portfolio company, acquired Vertec BioSolvents, a manufacturer of bio-based solvents headquartered in West Chicago, Illinois. The companies said the acquisition expands Shrieve’s specialty portfolio and deepens its presence across key end markets serving the demand for more sustainable chemistry. Financial terms were not disclosed.

• Gemspring Capital portfolio company Shrieve Chemical Company acquires FIS Chemicals

  April 21, 2026

  Buyer

  Shrieve Chemical Company, Gemspring Capital

  Target

  FIS Chemicals Ltd.

  Seller

  Maven Capital Partners, Foresight Group

  Industry

  Industrial Services

  Location

  United Kingdom

  Type

  Buyout

  Shrieve Chemical Company, backed by Gemspring Capital, acquired FIS Chemicals Ltd., an Aberdeen-based formulator, manufacturer and distributor of high-performance chemical solutions. Terms were not disclosed. The deal expands Shrieve’s product portfolio and strengthens its presence in key industrial end markets such as oil and gas, renewables, marine, hospitality, and logistics.

• Midland Industries Acquires Trading Services International (TSI)

  April 15, 2026

  Buyer

  Midland Industries, Gemspring Capital

  Target

  Trading Services International, LLC

  Industry

  Industrial Services

  Location

  New York, United States

  Type

  Addon

  Midland Industries, a portfolio company of Gemspring Capital, acquired Trading Services International, LLC (TSI), a New York-based value-added distributor of HVAC components. The deal expands Midland’s product breadth and strengthens its OEM and HVAC channel presence, with financial terms not disclosed.

• Gemspring Capital Makes Strategic Minority Investment in Aeromed Group

  March 3, 2026

  Buyer

  Gemspring Capital Management, LP (affiliate)

  Target

  Aeromed Group LLC, HITEK Electronic Materials Ltd., NorcaTec LLC, Kit Pack Company, Inc.

  Industry

  Aerospace & Defense

  Location

  North Carolina, United States

  Type

  Growth capital

  Gemspring Capital Management, through an affiliate, made a strategic minority investment in Aeromed Group LLC. The new capital supports Aeromed’s recent acquisitions of HITEK Electronic Materials Ltd., NorcaTec LLC, and Kit Pack Company, Inc., strengthening technical capabilities and expanding Aeromed’s global supply chain footprint.

• Gemspring Capital Acquires Trax's Image Recognition Business and Combines It with FORM (GoSpotCheck)

  February 12, 2026

  Buyer

  Gemspring Capital, FORM (GoSpotCheck / FORM OpX)

  Target

  Trax Ltd. Image Recognition business (non-China)

  Seller

  Trax Ltd.

  Industry

  AI & Machine Learning

  Location

  Massachusetts, United States

  Type

  Divestiture

  Trax Ltd. has divested its non-China Image Recognition (IR) business to an affiliate of Gemspring Capital. The acquired unit will be merged with FORM (creators of GoSpotCheck and FORM OpX) to form a combined company focused on retail execution and shelf intelligence, while Trax Ltd. retains Shopkick, Survey and LenzTech and pursues a more focused portfolio strategy.

• Gemspring Capital Affiliate Acquires and Combines FORM with Trax Retail Image Recognition to Create Global Retail Execution Platform

  February 4, 2026

  Buyer

  Gemspring Capital Management, LP (affiliate), Gemspring Capital (Gemspring Capital Management, LP affiliate)

  Target

  FORM, Trax Retail image recognition business (Trax IR)

  Industry

  Cloud & SaaS

  Location

  Connecticut, United States

  Type

  Buyout

  Gemspring Capital Management announced that an affiliate acquired and combined FORM with the image recognition business of Trax (Trax IR), creating a global retail execution and data intelligence software platform for the consumer packaged goods (CPG) ecosystem. The combined platform integrates FORM’s frontline task/workflow execution and shelf intelligence with Trax’s AI-powered computer vision for SKU-level, shelf-level insights, aiming to drive improved compliance, reduced out-of-stocks, and faster decision-making at scale.

• Residence Acquires OK COOL

  January 28, 2026

  Buyer

  Residence, Gemspring Capital

  Target

  OK COOL

  Industry

  Marketing & Advertising

  Location

  England, United Kingdom

  Type

  Addon

  Residence, a Gemspring Capital-backed global creative network, acquired OK COOL, a social-native creative agency with teams in London, New York and Sydney. The add-on expands Residence’s social strategy, creator partnerships, always-on content and measurement capabilities while allowing OK COOL to operate under its existing brand and leadership.

• Gemspring Capital Acquires TRG

  January 9, 2026

  Buyer

  Gemspring Capital Management (affiliate)

  Target

  TRG

  Seller

  Kennedy family, TRG management team

  Industry

  IT Services

  Location

  Ohio, United States

  Type

  Buyout

  An affiliate of Gemspring Capital Management has acquired TRG, a Cleveland-area provider of enterprise mobility lifecycle management and integrated cybersecurity solutions. TRG founder and CEO Sean Kennedy, the Kennedy family, and the existing management team retain a significant ownership stake; Gemspring said it will provide capital and operational resources to support continued growth and strategic acquisitions.

• Fenceworks (Gemspring Capital) Acquires Accurate Fence

  January 8, 2026

  Buyer

  Fenceworks, Gemspring Capital

  Target

  Accurate Fence

  Seller

  Jeff McWhorter

  Industry

  Construction

  Location

  Georgia, United States

  Type

  Addon

  Fenceworks, a Gemspring Capital portfolio company, has acquired Accurate Fence, a Lawrenceville, Georgia-based provider of permanent fencing installation services. The acquisition expands Fenceworks' footprint into the Atlanta metropolitan area and supports the platform's growth strategy in the Southeast; terms were not disclosed.

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