A Sheboygan manufacturer and marketer of decorative flakes, quartz and other resinous flooring system components has been acquired by a private equity firm.
Torginol is now owned by GreyLion, a US private equity firm, which said in its announcement that its investment will help Torginol further scale various components of its business. Those include expanding sales and marketing initiatives, accelerating new product development, creating new value-added services for customers and enhancing manufacturing technology. In its release, GreyLion said that Torginol has recorded more than 20 years of uninterrupted growth and strong profit margins.
Tom Testwuide Jr., Torginol’s chairman and owner since 2001, will retire. GreyLion will partner with current Torginol CEO Jason LaBouve and the rest of the local team to help drive the next phase of the company’s growth. LaBouve called Greylion’s deep expertise, outstanding team and transparent process “the perfect fit to serve as a long-term partner.”
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