Gemspring Capital Acquires TRG, a Leading Provider of Enterprise Mobility Lifecycle Management and Cybersecurity Solutions

WESTPORT, Conn., Jan. 7, 2026 /PRNewswire/ -- Gemspring Capital Management, LLC ("Gemspring") is pleased to announce that an affiliate has acquired TRG (the "Company") in partnership with the Company's Founder and CEO, Sean Kennedy. The Kennedy family and TRG's existing management team will retain a significant ownership stake in the Company and TRG will continue operating under its existing brand and leadership.

Headquartered in Cleveland, Ohio, TRG is a leading provider of technology lifecycle management solutions focused on enterprise mobility. Since its founding, the Company has experienced significant organic growth and completed four strategic acquisitions, expanding its footprint across the United States, Canada, Europe and Latin America. TRG delivers comprehensive end-to-end services, including device sourcing and configuration, deployment and logistics, repair and maintenance, managed mobility services, and integrated cybersecurity solutions. The Company supports mission-critical operations for blue-chip customers across retail, grocery, transportation and logistics, manufacturing, field services, and other industries, consistently delivering high-quality service, responsiveness, and innovation.

"This partnership represents an important milestone for TRG," said Sean Kennedy, CEO of TRG. "Enterprises are facing growing complexity in managing and securing devices, data and distributed workforces. TRG is uniquely positioned to address these challenges by combining the full lifecycle of endpoint services, device logistics, mobility expertise, and integrated cybersecurity into a single platform. This unified approach represents the future of enterprise operations, and with Gemspring as our partner, we will accelerate our growth while remaining true to our core values and culture."

"TRG's differentiated platform aligns perfectly with customer needs at a time when endpoint complexity and cyber risk are increasing rapidly," said Zubin Malkani, Managing Director at Gemspring. "We are excited to support Sean and the TRG leadership team with additional capital, operational expertise, and strategic acquisitions as they build on the Company's strong momentum and pursue an ambitious global growth strategy, while preserving the customer-centric culture that has been fundamental to TRG's success."

Guggenheim Securities, LLC served as financial advisor and Jones Day LLP served as legal advisor to TRG. Kirkland & Ellis LLP served as legal advisor to Gemspring.

About TRG
TRG is a leading provider of enterprise mobility and technology lifecycle management solutions. The company delivers a comprehensive suite of services spanning the entire device lifecycle, including procurement, configuration, deployment, depot repair, advanced exchange, staging and kitting, asset management, managed mobility services, and integrated cybersecurity solutions. TRG supports mission-critical operations for customers across retail, grocery, transportation and logistics, manufacturing, field services, and other industries, managing complex, multi-vendor device fleets throughout North America, Europe, and Latin America. TRG is headquartered in Cleveland, Ohio. For more information, visit www.trgsolutions.com.

About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $5.1 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $2.0 billion in revenue and are in the business services, consumer services, financial and insurance services, healthcare, industrial, software, and tech-enabled services sectors. For more information, visit www.gemspring.com.

Contact:
Zubin Malkani
[email protected]

SOURCE Gemspring Capital