Turnspire Capital Partners LLC, a special situations-focused private equity firm, announced today that it 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, headquartered in Fairlawn, Ohio, is a leading provider of premium air springs for trucks, trailers, buses, and specialty vehicles, and is a preferred partner to original equipment manufacturers and trucking fleets globally. 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. Goodyear® Air Springs will continue to go to market under a global and exclusive license from the Goodyear Tire and Rubber Company, which founded the business in 1957.
David Brinkman, who served as General Manager of Goodyear® Air Springs for EnPro, has been named Chief Executive Officer of Infinity Engineered Products. Mr. Brinkman said, "We are very excited about Goodyear® Air Springs as part of Infinity, the exciting new platform that Turnspire created. Turnspire is an ideal partner for our talented team, given the firm's strong track record building world-class independently operated industrial companies. Turnspire's highly relevant experience, commitment to operational excellence and significant resources will enable us to deploy an ambitious growth plan underpinned on investing in technology and innovation."
Chapman & Cutler LLP served as legal counsel to Turnspire.
Fidus Securities, LLC served as exclusive financial adviser to EnPro, and Robinson Bradshaw served as legal counsel.