Truelink Capital Signs Definitive Agreement to Acquire JT Thorpe Group, a Leading Provider of Mission-Critical Specialty Industrial Maintenance and Thermal Management Services

LOS ANGELES and SALT LAKE CITY, July 30, 2026 /PRNewswire/ -- Truelink Capital ("Truelink"), a Los Angeles-based private equity firm focused on growth and long-term value creation, announced today that it has entered into a definitive agreement to acquire JT Thorpe Group, Inc. ("JT Thorpe" or the "Company"), a leading provider of mission-critical specialty industrial maintenance and thermal management services supporting infrastructure and industrial end markets across North America. JT Thorpe's management team, led by CEO Kevin Howard, will continue to lead the business and will retain a significant ownership stake in the Company. The transaction is expected to close by the end of Q3, subject to the satisfaction of customary closing conditions. Financial terms of the transaction were not disclosed.

Founded in 1906 and headquartered in Salt Lake City, Utah, JT Thorpe provides a comprehensive suite of thermal management services, including refractory, fireproofing, and insulation, as well as asset integrity services, such as access and mechanical, supporting the maintenance and operation of complex industrial facilities. With a network of more than 30 locations and a team of skilled craft professionals across North America, JT Thorpe serves a long-tenured, blue-chip customer base across the power generation, semiconductor, LNG, mining, steel, cement, and broader infrastructure and industrial end markets. The Company's 120-year reputation for safety and technical excellence has made it a trusted partner on some of the most demanding maintenance and capital projects across the industries it serves.

"JT Thorpe has built a durable maintenance business anchored by long-standing customer relationships and recurring, mission-critical services," said Luke Myers, Co-Founder and Managing Partner at Truelink Capital. "JT Thorpe also sits at the intersection of strong growth tailwinds in infrastructure end markets right now, from LNG and semiconductor to data centers and power generation. We see significant opportunity to build on its existing foundation, both organically and through a pipeline of strategic M&A, and look forward to partnering with Kevin Howard and the entire JT Thorpe team."

"We look forward to partnering with Truelink and continuing to meet and exceed our customers' expectations," said Kevin Howard, Chief Executive Officer of JT Thorpe Group. "Truelink's operational focus and experience partnering with businesses in the infrastructure and industrial services space make them the right partner as we continue to invest in our people, our safety culture, and our ability to serve customers across North America. Our team has spent 120 years building this business, and I'm excited for Truelink to help us write its next chapter."

This transaction reflects Truelink's continued focus on partnering with industry-leading companies in the industrials and business services sectors, and marks the third platform investment for Truelink Capital's Fund II.

Goldman Sachs and Harris Williams served as financial advisors to JT Thorpe in connection with the transaction.

ABOUT TRUELINK CAPITAL
Truelink Capital is a private equity firm based in Los Angeles with over $4 billion of assets under management. Truelink pairs deep industry experience in the industrials and business services sectors with a commitment to building partnerships that drive long-term value through an operationally focused strategy. Truelink partners with management, corporate sellers, and founders to accelerate growth through the execution of strategic initiatives and transformative add-on acquisitions. Learn more at: www.truelinkcap.com.

ABOUT JT THORPE GROUP
JT Thorpe Group, Inc. is a leading provider of outsourced industrial maintenance services, including refractory, fireproofing, insulation, coatings, access, and mechanical services. Founded in 1906 and headquartered in Salt Lake City, Utah, the Company serves customers across the power generation, semiconductor, LNG, mining, steel, cement, and broader infrastructure and industrial markets throughout North America. JT Thorpe is the parent company to JT Thorpe & Son, Inc., JT Thorpe Industrial, Inc., K&G Industrial Services, Brahma Group, Inc., and Jayne Industries. Learn more at: www.jtthorpegroup.com.

MEDIA CONTACTS
Peter Lewis
Head of Business Development
[email protected]
Truelink Capital

SOURCE Truelink Capital