24 Frank Lloyd Wright Drive
PO Box 484/Suite H3225
Ann Arbor, MI 48105
TRM Equity II ("TRM"), the Michigan based private equity fund, has acquired substantially all of the assets of Innovative Hearth Products (“IHP”). With production facilities in Russellville, AL, and Auburn, WA, IHP isa leading manufacturer of indoor and outdoor fireplaces, free-standing stoves,gas logs, fireplace inserts, venting products, and accessories for the specialty retail, residential, new construction, and industrial markets. The transaction was completed on January 26th, 2023. IHP generated ~$87million of revenue in 2022 and employs approximately 350 people.
Ann Arbor, MI September 12, 2022TRM Equity (“TRM”or “the Firm”), a Michigan-based middle market private equity firm, announced today a key new hire within its investment team, as Brad Young joins the firmas Vice President. “Brad has critical skills that expand our capabilities with operationally intensive special situations. There was an immediate fit with our team which is absolutely crucial for our strategy and the size of our firm. We are very excited to have Brad join us,” said Jeff Stone Managing Director TRM Equity.
TRM Equity II (“TRM”), the Michigan based private equity fund, has acquired all of the equity of WDC Acquisition LLC, known by its trade name Wellman Dynamics (“Wellman”). The Company, located in Creston, Iowa, is an aerospace supplier known for manufacturing large scale, complex magnesium and aluminum castings for the defense and commercial aerospace markets. The sale closed July 29th, 2022. Wellman has been around for 100 years and has been a long-standing member of the Creston, Iowa community since 1965. Approximately 350 people are employed at Wellman.
TRM Equity announces the acquisition of Elyria Foundry, based in Elyria, Ohio. The transaction was completed on January 25, 2021.Elyria Foundry, specializes in ductile iron castings up to 200,000 pounds serving a broad set of markets including defense, oil and gas, construction equipment and mining. Elyria Foundry has operated since the early 1900’s and has developed a strong technical and metallurgical team that drives its success.