A private equity firm has acquired a Sheboygan-based manufacturer.
A report from Insight on Business says GreyLion now owns Torginol, a manufacturer and marketer of decorative flakes, quartz, and other products for flooring systems.
The acquisition also includes the retirement of Tom Testwuide Jr., the chairman and owner of the company.
Torginol will also partner with GreyLion CEO Jason LeBouve to help drive the company’s growth.
According to a press release, GreyLion’s goal is to “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.”
LeBouve says he believes “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.”
