CHICAGO, IL (June 12, 2024) – Turnout Industries, LLC (“Turnout”) is pleased to announce the acquisition of Dewpoint, LLC (“Dewpoint”). Founded in 1996 and headquartered in Lansing, Michigan, with offices in Grand Rapids, Michigan, Dewpoint has a successful track record of developing strategic technology plans to maximize resources and position organizations for the future. Dewpoint’s service-based solutions help clients transform and optimize their IT architecture stack and operations through Cybersecurity improvements, Strategic Assessments, Managed IT Services, Portfolio and Project Management, Organizational Change Management, and Application Development, all while “Making IT Personal.” Dewpoint supports clients in multiple industries, including State and Local Government, Finance, Healthcare, Insurance, and Manufacturing. Dewpoint represents Turnout’s sixth platform acquisition since its formation in May 2021.
“Turnout Industries has a longer-term investment strategy and shared commitment to our client’s success, our team, our culture, and our community as we grow to share our capabilities with a broader client base,” commented Bob Bartholomew, President, and CEO of Dewpoint.
The acquisition aligns with Turnout Industries’ strategic vision to expand its portfolio and its presence within the IT solutions market. Dewpoint’s established reputation for delivering tailored solutions to meet clients’ unique business needs aligns perfectly with Turnout Industries’ customer-centric approach. Rob France, a Turnout Partner, noted “We are pleased to be in business with the Dewpoint team and look forward to adding capabilities, both organically and through targeted acquisitions, to ensure we continue to best support our loyal customers.”
Dewpoint will continue to operate under its current brand and leadership, ensuring a seamless transition for its customers. The acquisition will enable Dewpoint to leverage Turnout Industries’ resources and expertise to enhance its service offerings further and provide even greater value to its clients.
For more information regarding Dewpoint, please visit dewpoint.com.
ABOUT TURNOUT INDUSTRIES
Turnout Industries is a Chicago-based diversified holding company targeting both control and non-control investments in companies with $5-50 million of revenue and at least $1 million of EBITDA. From its committed capital base, Turnout provides both equity and subordinated debt to companies in the business services, manufacturing and distribution/logistics categories. Turnout seeks to build long term value through investments in management teams, company infrastructure and strategically additive acquisitions. With the benefit of a flexible timeline, Turnout will seek to build value over extended periods tailored to each specific company’s opportunities.We are committed to approaching each investment opportunity with the appropriate mix of humility and relevant experience. We prefer candor and believe in straightforward communications. We are an excellent partner to management teams and good stewards of our businesses. For more information regarding Turnout, please visit turnoutindustries.com or follow us on LinkedIn for our latest updates.