NEW YORK--(BUSINESS WIRE)--Turnspire Capital Partners LLC (“Turnspire”) announced today that an affiliate has acquired Swanson Industries (“Swanson” or the “Company”), a premier provider of manufacturing, remanufacturing, repair, and distribution services of mining equipment, hydraulic cylinders, and related industrial equipment across the United States. The transaction includes Swanson’s controlling stake in Tiefenbach North America, which provides a specialized focus on highly engineered hydraulic controls and hose assemblies tailored for mining, energy, and industrial applications.
Founded in 1964 and headquartered in Morgantown, West Virginia, Swanson has established a strong presence in the mining and heavy industry sectors. The Company has a reputation for delivering the highest-quality products and unparalleled technical expertise, enhancing the long-term safety and efficiency of its customers’ operations. Swanson is positioned to achieve sustainable growth with a comprehensive range of services – including designing and manufacturing new products, as well as remanufacturing and repair solutions – and deep customer relationships across core end markets.
Also headquartered in Morgantown, with locations across the United States, Tiefenbach North America further enhances Swanson's capabilities and strengthens its product portfolio.
“Swanson has been an industry leader for decades, and we are excited to partner with management to further strengthen its market position,” said Abel S. Osorio, Partner at Turnspire. “The Company’s products and services play a pivotal role in driving the production of critical minerals and energy resources, enabling the growth of the global economy. We believe that Turnspire’s experience in new market development and operational transformation, combined with our committed financial resources, will enhance Swanson’s capabilities as it continues to provide its customers with quality products and excellent service.”
“Turnspire’s investment in Swanson is a significant step forward that positions our business for strategic growth,” said Steve Sangalli, CEO of Swanson. “Our entire team is excited to collaborate with Turnspire, which has a long and consistent track record of operational excellence. Together with Turnspire, we will execute a strategic plan that builds on our market leading positions through growth, innovation, and product development, benefitting our customers, suppliers, and employees.”
Wilkie Farr & Gallagher LLP served as legal counsel, and Macquarie Capital served 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.
