Industrial Growth Partners completed the acquisition of ASPEQ Heating Group from Bunker Hill Capital.

Industrial Growth Partners, a private equity firm, completed its acquisition of ASPEQ Heating Group, MO-based manufacturer of highly engineered electric‐heating and thermal‐management technologies, from Bunker Hill Capital, a Boston-based private equity investor in lower middle-market companies. Financial terms were not disclosed. “We were fortunate to recruit an industry veteran of Dave’s caliber from the thermal products sector to lead an already strong management team and ultimately exceed our investment goals. In addition to Dave’s leadership, we want to recognize the efforts of ASPEQ’s entire senior leadership team for their contributions to the Company’s success, including Jim Killeen, Steve Lincks, Dave Knoebel, Stacey Sappington, and Cindi Ferrell," Mark DeBlois, Bunker Hill Capital Managing Partner.