Gemspring Capital Management LLC, a middle-market private equity firm, has acquired a majority interest in JTI Electrical & Instrumentation, through an affiliate.
JTI is a designer, engineer and installer of complex electrical and mechanical services enabling industrial facilities to streamline functions, minimize downtime and increase operational efficiencies. The firm offers a full suit of electrical, mechanical, design and engineering, controls and panel services for customers across various end-markets.
“We are excited by this investment and partnership with Gemspring, which comes at an inflection point for the Company,” commented JTI founder and CEO, Jason Tackitt. “We and Gemspring both share a common focus on growth driven by building upon existing customer relationships, adding service capabilities, further penetrating adjacent end markets, and expanding into new geographies. We believe Gemspring’s operational expertise, extensive network, and M&A support will help fuel us through our next phase of growth.”
“We are excited to invest in the Company behind its track record of strong organic growth driven by best-of-breed scale and technical capabilities, unmatched domain knowledge, and outstanding customer service,” added Ravdeep Chanana, principal at Gemspring. “We look forward to partnering with the management team as JTI continues to deliver exceptional value to its customers, build its team, and pursue strategic acquisitions.”