Turnspire Capital Partners LLC (“Turnspire”) announced today that an affiliate has acquired GHP Group Inc. (“GHP”), a leading designer and supplier of consumer outdoor living and indoor heating products.
Headquartered in Niles, Illinois, GHP is a prominent leader in designing, sourcing, and supplying patio heaters, fireplaces, portable heating products, barbecue grills, and water dispensers under a portfolio of well-recognized brands, including Dyna-Glo, Bond, Pleasant Hearth, and Vitapur. As a category leader, GHP excels in product development, program execution, and supply chain management, ensuring the delivery of high-quality products that feature innovative designs and functionality. GHP’s extensive customer base comprises major home centers, hardware stores, and online retailers, reflecting its strong market presence and commitment to excellence.
Turnspire Partner Abel S. Osorio said, “We are excited to acquire GHP, which has remarkable potential to lead in multiple consumer product categories. GHP’s decades of experience in building brands that truly resonate with its target audience have enabled it to establish strong partnerships with blue-chip customers and suppliers, and to deliver best-in-class products at competitive prices. Supported by an operationally focused sponsor like Turnspire, GHP will have the resources necessary to invest in transformative process improvements, new product development, and significant organic growth opportunities.”
“GHP is at a very exciting inflection point, with tremendous opportunities across its product portfolio,” added Ron Calvert, CEO of GHP. “Our team is excited to collaborate with Turnspire, whose operational expertise, highly relevant experience, and strategic guidance will enable GHP to better serve both current and future customers. GHP is well positioned to capitalize on its comprehensive product offering, supply chain management expertise, and deep customer relationships.”
Wilkie Farr & Gallagher LLP acted as legal counsel and William Blair & Company LLC acted as financial advisor to Turnspire.
About Turnspire Capital Partners
Turnspire Capital Partners invests in high-quality businesses that have reached strategic, financial or operational inflection points and stand to benefit from our hands-on, operationally focused approach. Turnspire’s investment philosophy is predicated on creating value through operational improvements rather than through financial leverage. Turnspire strives to make each of its portfolio companies best-in-class in their respective industry niche, and then to grow the businesses through organic initiatives or strategic acquisitions. For additional information, please visit www.turnspirecap.com.
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Contacts
Mark Semer
Gasthalter & Co.
(212) 257-4170
turnspire@gasthalter.com
