Blue River Advises SPI on Acquisition of Intech Equipment and Supply

November 30, 2022 – Blue River Financial Group advised Specialty Products & Insulation (SPI), a leading value-added distributor and fabricator of mechanical and building insulation products and a portfolio company of Incline Equity Partners, on the recent acquisition of Intech Equipment and Supply. SPI’s acquisition of Intech will provide a platform to build upon as they expand into the spray foam market more broadly.

Founded in 1982, Specialty Products & Insulation (SPI) supplies products that conserve energy, preserve worker safety, and provide noise abatement throughout the U.S. and Canada. SPI’s product lines include 35,000 SKUs across commercial, industrial, residential, marine, and OEM markets and are used in thermal, acoustic, and fire protection applications.

Founded in 1995, Intech Equipment & Supply has served as a pioneer in the spray polyurethane foam (SPF) insulation industry. As a leading spray foam equipment provider, Intech offers contractors spray foam equipment, mobile spray foam rigs, parts, education and training. With five facilities spanning 3 time zones, their customer service and technical team has a combined experience of over 350 years.

Jon Perry, CEO at SPI stated, “Intech is a clear leader in the spray foam industry. We liked the culture at Intech from the very beginning and felt they would be a great fit as part of SPI. We see a really bright future as a combined company.”

“The timing was right and we’re all excited about the future with SPI. It’s going to be good for both companies,” said John Toolis, President of Intech Equipment and Supply.

Lewis VanLandingham, Vice President at Blue River, commented, “It’s exciting to be a part of bringing together two great organizations, especially when it’s clear that the partnership will enable them to better serve their customers and the market. I’ve appreciated the straightforward honest communication from SPI’s leadership and their commitment to fostering an entrepreneurial culture within SPI. We look forward to seeing how SPI and Intech grow together as they seek to make additional acquisitions in the spray foam market.“

“We are fortunate to have great clients like Specialty Products & Insulation and Incline Equity Partners who have a clear vision for their strategic growth through acquisition. It helps us as advisors connect them with organizations like Intech Equipment and Supply, that are well aligned both strategically and culturally,” said Christopher Caron, Managing Director with Blue River.

Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution, and business services companies, generally seeking to invest in growing companies with enterprise values of $25 – $750 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.

Contact

Christopher Caron
Managing Director
ccaron@goblueriver.com

About Blue River

Blue River Financial Group is a middle market merger and acquisition advisory firm headquartered in Bloomfield Hills, Michigan. It assists corporations, private equity groups and individuals in the sale and acquisition of businesses, and has completed assignments in multiple business segments. With over 20 years of experience spanning across 50 global industries, Blue River provides a suite of services to middle market clients including corporate development, private equity support, valuations and transaction consulting, placing a premium on relationship-centered transaction counsel and client focus.

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