Turnspire Capital To Acquire Goodyear Air Springs From EnPro Industries
Special situations private equtiy firm Turnspire Capital Partners is buying Goodyear Air Springs, a provider of premium air springs for trucks, trailers, buses and speciality vehicles, from EnPro Industries.
“We look forward to continuing the Goodyear® Air Springs legacy as an independent company by leveraging an extensive product portfolio and bringing innovative technology solutions to leading OEM partners and aftermarket customers,” said Turnspire Partner Abel S. Osorio. “Turnspire will build on the foundation of its legendary brand name, unparalleled reputation for quality, best in class reliability, and superior service. Our agreement to acquire Goodyear® Air Springs is the culmination of a highly integrated diligence process in which we utilized Turnspire’s extensive experience executing corporate carve-outs, and knowledge of the transportation and manufacturing industries, to deliver speed and certainty to EnPro.”
The transaction is expected to close following the satisfaction of customary closing conditions and regulatory approvals, including in Mexico. Upon closing, an affiliate of Turnspire will acquire all the assets of Goodyear® Air Springs, including full brand licensing rights, technical and R&D center in Fairlawn, all manufacturing facilities, all intellectual property, all real estate in the U.S. and Mexico, and all personnel.
Chapman & Cutler LLP served as legal counsel to Turnspire.
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