Bunker Hill Capital announces acquisition of ASPEQ Heating Group LLC

Boston – Bunker Hill Capital announced that it has acquired ASPEQ Heating Group LLC, a St. Louis, Missouri based manufacturer of highly engineered electric-heating and thermal-management technologies. In addition to Bunker Hill Capital and other co-investors, majority-holder of ASPEQ, John Eulich, and ASPEQ’s senior management team both reinvested meaningful proceeds in the deal. ASPEQ’s highly engineered designs, sold under the INDEECO, Heatrex and AccuTherm brands, are value-added solutions versus more standardized, higher-volume heating elements. The company’s broad product portfolio comprises thousands of unique products, covering approximately 30 product categories that address virtually every electric heating application across nearly every industrial process and commercial end market. ASPEQ is strategically focused on engineering and manufacturing customized solutions that address unique customer needs for end markets and applications that cannot be served effectively by competitors’ standardized offerings. “ASPEQ’s management team, work force, and engineering talent are all dedicated to manufacturing the industry’s most technologically advanced heating solutions,” said Mark DeBlois, managing partner of Bunker Hill Capital. “The company’s commitment to its customers is evidenced by its ability to produce highly engineered, customized heating technologies. We are very excited to partner with CEO Mike Howard and his team in scaling the business to its next level of growth.”

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