GreyLion, a U.S. private equity firm focused on high-growth businesses, announced it has made a new strategic investment in Torginol, a manufacturer and marketer of decorative flakes, quartz and other products that enhance the aesthetic and ergonomic qualities of resinous flooring systems in both residential and commercial applications.
As part of GreyLion’s investment, Tom Testwuide Jr., Torginol’s Chairman and Owner, who acquired the company in 2001, will be retiring. And GreyLion will partner with Jason LaBouve, Chief Executive Officer, and the rest of the Torginol team to help drive the next phase of the company’s growth.
The firm’s equity investment will help Torginol scale various components of its business, including expanding sales and marketing initiatives, accelerating new product development, creating new value-added services for customers, and enhancing manufacturing technology.
Based in Sheboygan, WI, Torginol utilizes strategic relationships to serve customers across three key channels – manufacturers, distributors, and contractors- and differentiates itself as the industry leader in product design and innovation, high-quality products, exceptional customer service, rapid lead times, and extensive product customization capabilities. The company has recorded more than 20 years of uninterrupted growth and strong profit margins.
Advisors: CIBC acted as exclusive financial advisor to Torginol, Godfrey & Kahn served as legal counsel to Torginol, and Latham & Watkins served as legal counsel to GreyLion.
KEY QUOTES:
“It has been an honor and a privilege to work alongside my talented colleagues to help grow Torginol into the industry leader it has become over the past two decades. I am incredibly proud of what we’ve accomplished, and I believe the company is strategically positioned to grow even further. GreyLion’s deep expertise, outstanding team and transparent process make them the perfect fit to serve as a long-term partner. They possess extensive experience helping companies like ours accelerate their growth and I believe their collaborative approach to partnering with senior management teams is exactly what is needed to help us maintain our culture and ensure the company continues on an upward trajectory. I am excited for what the future holds.”
Jason LaBouve
“We are delighted to welcome Torginol into our family of portfolio companies. Tom, Jason and the entire management team have done an exceptional job scaling the company’s operations and product offerings while creating a highly profitable business that we believe has significant opportunities for growth.”
Santiago Núñez, Partner at GreyLion
