GreyLion Closes Strategic Investment in Torginol

GreyLion, a leading U.S. private equity firm focused on high-growth businesses, today announced it has made a new strategic investment in Torginol, a manufacturer and marketer of decorative flakes, quartz and other products that enhance the aesthetic and ergonomic qualities of resinous flooring systems in both residential and commercial applications.

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As part of GreyLion’s investment, Tom Testwuide Jr., Torginol’s Chairman and Owner, who acquired the company in 2001, will retire. GreyLion will partner with Jason LaBouve, Chief Executive Officer, and the rest of the Torginol team to help drive the next phase of the company’s growth. The firm’s equity investment will help Torginol further scale various components of its business, including expanding sales and marketing initiatives, accelerating new product development, creating new value-add services for customers and enhancing manufacturing technology.

Headquartered in Sheboygan, WI, Torginol leverages strategic relationships to serve customers across three key channels – manufacturers, distributors and contractors – and differentiates itself as the industry leader in product design and innovation, high quality products, exceptional customer service, rapid lead times and extensive product customization capabilities. The company has recorded more than 20 years of uninterrupted growth and strong profit margins.

“It has been an honor and a privilege to work alongside my talented colleagues to help grow Torginol into the industry leader it has become over the past two decades. I am incredibly proud of what we’ve accomplished, and I believe the company is strategically positioned to grow even further. GreyLion’s deep expertise, outstanding team and transparent process make them the perfect fit to serve as a long-term partner. They possess extensive experience helping companies like ours accelerate their growth and I believe their collaborative approach to partnering with senior management teams is exactly what is needed to help us maintain our culture and ensure the company continues on an upward trajectory. I am excited for what the future holds,” said Jason LaBouve.

“We are delighted to welcome Torginol into our family of portfolio companies,” said Santiago Núñez, Partner at GreyLion. “Tom, Jason and the entire management team have done an exceptional job scaling the company’s operations and product offerings while creating a highly profitable business that we believe has significant opportunities for growth.”

CIBC acted as exclusive financial advisor to Torginol, Godfrey & Kahn served as legal counsel to Torginol, and Latham & Watkins served as legal counsel to GreyLion.

About Torginol

Torginol was founded in 1961 with the vision of pioneering the resinous performance flooring market throughout the United States. Since then, the company has evolved to exclusively focus on engineering materials that enhance the aesthetic and ergonomic qualities of various environments. Torginol’s materials combine design and function to provide optimal utility to commercial, industrial, institutional and residential surfaces throughout the world. The company strives to inspire designers, architects, builders and homeowners with the innovative patterns and textures produced by its materials. For more information, please visit www.torginol.com.

About GreyLion Partners LP

GreyLion focuses on investing in high-growth businesses in the lower middle market across two sectors: (i) services and (ii) specialized industrial and manufacturing. The team seeks to partner with existing owners and management teams to deliver capital in tailored and flexible structures. The GreyLion partners have spent nearly two decades executing a consistent strategy of investing $25-$125 USD million of capital per investment, primarily within the United States. They currently manage private equity funds with aggregate commitments of approximately $2.0 billion USD. For more information on GreyLion, please visit www.greylion.com.

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