- ASPEQ was acquired by Industrial Growth Partners in November 2019
- BBC Industries was founded over 50 years ago
- IGP invests in middle-market industrial companies
ASPEQ Heating Group, which is backed by Industrial Growth Partners, has acquired Pacific, Missouri-based BBC Industries, a provider of electric heatings and heating systems. No financial terms were disclosed.
Headquartered in St. Louis, Missouri, ASPEQ is a provider of custom-configured electric heating, power controls, and thermal management products.
ASPEQ was acquired by Industrial Growth Partners in November 2019.
BBC Industries was founded over 50 years ago.
“The acquisition of BBC and its unique infrared technology will add to ASPEQ’s diverse product scope and allow ASPEQ to expand its electric heating solutions to our customer base. We are excited to welcome the BBC team as part of ASPEQ,” said Dave Smith, ASPEQ’s president and CEO, in a statement.
Based in San Francisco, IGP invests in middle-market industrial companies. Founded in 1997, the firm has raised over $3.4 billion of equity capital raised since inception.