Gemspring Capital Management announced an affiliate has acquired TRG, a Cleveland, Ohio-based provider of enterprise mobility lifecycle management and integrated cybersecurity solutions, in a deal that keeps the company’s founder and leadership team in place.
The private equity firm said the transaction was completed in partnership with TRG Founder and CEO Sean Kennedy, with the Kennedy family and TRG’s existing management team retaining a significant ownership stake. TRG will continue to operate under its existing brand and leadership. Financial terms were not disclosed.
TRG provides end-to-end technology lifecycle management services for enterprise mobility programs, including device sourcing and configuration, deployment and logistics, repair and maintenance, managed mobility services, and cybersecurity capabilities. The company supports large customers across industries, including retail, grocery, transportation and logistics, manufacturing, and field services, and has expanded its footprint across the United States, Canada, Europe, and Latin America through organic growth and four acquisitions.
Gemspring said it plans to support TRG with additional capital and operational resources, with a focus on continued growth and strategic acquisitions as enterprises contend with rising endpoint complexity and increasing cyber risk.
Support: Guggenheim Securities served as financial advisor and Jones Day served as legal advisor to TRG. Kirkland & Ellis served as legal advisor to Gemspring.
KEY QUOTES:
“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.”
Sean Kennedy, Founder and CEO, TRG
“TRG’s differentiated platform aligns perfectly with customer needs at a time when endpoint complexity and cyber risk are increasing rapidly. 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.”
Zubin Malkani, Managing Director, Gemspring Capital
