Turnspire Capital Partners LLC has, through affiliates, signed a definitive agreement to acquire the assets of Spectra Premium Industries.
Headquartered in Boucherville, Quebec, Spectra is a designer, manufacturer and distributor of thermal and fluid management metal-formed products for the automotive, heavy-duty truck and industrial markets.
Ilya Koffman, managing partner of Turnspire, said, “Spectra’s best-in-class engineering, and North American manufacturing and distribution capabilities position the Company as a supplier of choice to attractive automotive, commercial vehicle and industrial markets. The Turnspire acquisition will result in a strong balance sheet through the elimination of significant prior liabilities. Further, Spectra will benefit from our commitment to manufacturing excellence and access to significant strategic, operational and financial resources. We are excited to work with Spectra’s management team to build on the Company’s legacy of innovation and achieve profitable growth.”