Dallas private equity firm Trinity Hunt Partners announced Thursday that it has launched a new MRO services platform — with a Detroit company as its “foundational investment.”
Northline Industrial will anchor the newly formed Steadpoint Industrial Services, which will subsequently aim to grow its operations through “strategic acquisitions and organic initiatives.”
Northline provides aftermarket industrial repair, equipment sales, field services and other solutions through its five business units to manufacturers and distributors in Michigan, Indiana and North Carolina. Trinity Hunt officials said that the company would provide an “exceptional foundation” as it adds scale to the new business in a “large and highly fragmented” market for specialized industrial MRO services.
“Automation and advanced manufacturing are driving growing, consistent and recurring demand for industrial MRO services, and we saw a clear opportunity to build a national platform in this space,” Trinity Hunt Partner Garrett Greer said in the announcement. "Northline has built a proven business anchored by mission-critical MRO capabilities, technical expertise, and an unwavering commitment to its people.”
“The people who have grown with Northline over the past 20 years are what make this business what it is,” added Chuck Baase, who co-founded Northline in 2006. “We wanted a partner who not only understood our business, but who genuinely cared about the people who make it run.”
Terms of the deal were not disclosed. The move follows Trinity Hunt’s launch of an HVAC distribution business early this year.
