Warren-based TPI Composites, a manufacturer of large-scale, structural composite products, has been acquired by Landmark Growth Capital Partners and by members of the TPI senior management team from True North Partners.
The acquired business also includes the company’s interest in VienTek, a joint venture that produces wind turbine blades, as well as its patented SCRIMP technology and a portfolio of licensing agreements. TPI said it will maintain its development and manufacturing facility in Warren and plans to maintain its development and manufacturing capacity in Warren and plans to build additional manufacturing facilities.
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The company’s marine business, which builds J Boats, Pearson Yachts and Alerion sailboats, has been spun out into a separate company, Pearson Composites.
Steve Lockard, president and CEO of TPI, said the new ownership team and Landmark’s additional financing would allow TPI to “capitalize on the tremendous growth opportunities in the wind energy, transportation and military sectors.”
