HIG Capital’s Homewerks completes fourth add-on acquisition of GTR Technologies
- GTR has expanded its presence with major US home improvement retailers and grown its wholesale and distribution channels in recent years
- The deal marks Homewerks’ fourth add-on acquisition since HIG Capital took ownership of the company
- HIG Capital manages $75 billion of capital and has invested in more than 400 companies since its founding in 1993
HIG Capital‘s portfolio company Homewerks Worldwide has completed the acquisition of GTR Technologies, a Seattle-area supplier of home improvement hardware, for undisclosed terms.
GTR, headquartered in Port Orchard, Washington, designs and sells ventilation fans, technology switches, access panels and related products under both private-label and branded lines aimed at professional installers. The company has expanded its footprint with major US home improvement retailers in recent years and built a growing wholesale and distribution business, according to the release.
Homewerks, based in Lake Bluff, Illinois, develops and markets home improvement products across the rough plumbing, fashion plumbing, HVAC and bath accessory categories, selling under its own brands as well as retailer private labels. The acquisition is Homewerks’ fourth add-on deal.
“The highly strategic and complementary combination of GTR and Homewerks enhances the growth capabilities and customer value-add for the overall platform,” said Jon Fox, managing director at HIG Capital. “This transaction marks the fourth add-on acquisition for Homewerks and is the continuation of our strategic growth plan of adding attractive, innovative product offerings that build on Homewerks’ leading product lines, operations, and supply chain capabilities.”
HIG Capital is a global alternative investment firm based in Miami with $75 billion of capital under management. Since its founding in 1993, the firm has invested in more than 400 companies, and its current portfolio includes more than 100 companies with combined sales exceeding $53 billion.
Editor’s note: This news brief was produced with the assistance of artificial intelligence.
