Turnspire Capital Partners Completes Goodyear Air Springs Acquisition
Special situations private equity firm Turnspire Capital Partners has completed the acquisition of the Goodyear Air Springs business from EnPro Industries, Inc. Goodyear Air Springs is the first acquisition of Infinity Engineered Products, a new platform formed by Turnspire.
Goodyear Air Springs is a provider of premium air springs for trucks, trailers, buses, and specialty vehicles. Infinity acquired the assets of Goodyear Air Springs, including full brand licensing rights, the technical and R&D center located in Fairlawn, all manufacturing facilities, all intellectual property, all real estate in the U.S. and Mexico, and all personnel.
“We are thrilled to acquire Goodyear Air Springs, which has a leading market position, world-class engineering and testing capabilities, and a robust portfolio of industry-leading products,” said Turnspire Partner Abel S. Osorio. “Through our new company Infinity Engineered Products, we look forward to building on the Goodyear Air Springs legacy by increasing the business’ already substantial investment in research and development, technology and new product development, and other initiatives. We are incredibly excited to support the Infinity team as it pursues attractive growth opportunities and strategic acquisitions.”
“We want to thank all of Goodyear Air Springs’ stakeholders and EnPro for their assistance and cooperation throughout the transaction process. We look forward to continuing to bring superior products and services to customers and are grateful for their support of our acquisition,” Osorio concluded.
David Brinkman, who served as General Manager of Goodyear Air Springs for EnPro, has been named Chief Executive Officer of Infinity Engineered Products.
Chapman & Cutler LLP served as legal counsel to Turnspire.
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