Turnspire Capital Partners has named Trevor Myers as an executive-in-residence. Myers is the former president and CEO of Cloyes Gear and Products.
NEW YORK, Sept. 26, 2018 /PRNewswire/ — Turnspire Capital Partners LLC (“Turnspire”), a special situations-focused private equity firm, today announced a partnership with Trevor Myers. Mr. Myers is an accomplished manufacturing executive with over 35 years of experience. As an Executive in Residence, he will work with the Turnspire team to identify and pursue new platform acquisitions.
Mr. Myers has a successful track record working with automotive OEM and aftermarket sales channels and customers, including both the Detroit Three and New Domestics. In addition, he has substantial experience managing global supply chains and manufacturing operations, including gear manufacturing and powdered metal.
As President and CEO of Cloyes Gear and Products, Mr. Myers drove domestic and international growth, customer diversification and substantial operational improvements, and achieved record revenue and EBITDA. Mr. Myers was a member of the Board of Directors of Cloyes, HHI Holdings, Automotive Aftermarket Suppliers Association, National Engine Parts Manufacturers Association and NAPA Supplier Council.
Further, his experience includes many years of successful collaboration with private equity firms including KPS Capital Partners and American Securities, which owned companies that Mr. Myers led.
“We are excited to team up with a world-class executive like Trevor, whose prior CEO achievements I had the privilege of seeing first-hand over many years,” said Turnspire Managing Partner Ilya Koffman. “We are actively searching for a platform investment to pursue together that will benefit from Trevor’s deep domain expertise and operational acumen, resulting in transformational improvements.”
Mr. Myers added, “Turnspire’s focus on complex and challenging situations is a perfect fit with my experience and interests. We believe there is tremendous opportunity to bring best-in-class management to specialty manufacturers in the lower-middle-market. I look forward to finding and executing an attractive investment in partnership with Turnspire, to create significant value through sustainable strategic and operational improvements.”
SEEKING PLATFORM INVESTMENTS THAT FIT MR. MYERS’ EXPERTISE
Although Turnspire will continue to pursue a wide range of industrial and consumer businesses, Trevor Myers has specific interest in the following segments:
Suppliers to Automotive OEMs
Automotive aftermarket suppliers
Powdered metal component manufacturing
TARGET COMPANY CHARACTERISTICS AND SITUATIONS
Revenue of $50 million to $400 million
Positive EBITDA not required
Distressed and turnaround situations, including bankruptcies
Buyouts of under-managed and under-performing companies
Public to private
About Turnspire Capital Partners
Turnspire Capital Partners invests in high-quality businesses that have reached strategic, financial or operational inflection points and stand to benefit from our hands-on, operationally focused approach. Turnspire’s investment philosophy is predicated on creating value through operational improvements rather than through financial leverage. Turnspire strives to make each of its companies best-in-class in their respective industry niche, and then to grow the businesses through organic initiatives or strategic acquisitions. For additional information, please visit www.turnspirecap.com.