“Our teams both work tirelessly to solve operational problems for our customers. Not only is investing in TMMI a good market fit, it’s a fantastic cultural fit,” said GrayMatter CEO Jim Gillespie.
GrayMatter acquires a Denver-based equipment seller, plans to triple staff
Pittsburgh, PA — Industrial technology and consulting firm GrayMatter plans to triple its headcount in the next few years after acquiring a Denver, Colo.-based equipment seller.
GrayMatter, which is headquartered in Marshall, announced the acquisition of Technical Marketing Manufacturing, Inc. on Tuesday afternoon. TMMI provides operational technology to customers in Colorado, Utah, New Mexico, Wyoming, Arizona, Idaho and Montana.
Financial details for the deal were not disclosed, but GrayMatter said its staff of just under 100 will be boosted by the 25-member TMMI team.
The acquisition, coupled with a “substantial investment” by private equity firm Hamilton Robinson Capital Partners last November, has helped GrayMatter to rapidly expand its efforts to digitally transform industrial operations. It’s also the impetus behind tripling the firm’s staff over the next few years.
“The market has caught up to what we do and now is the time to capitalize on it,” Jim Gillespie, GrayMatter CEO, said in a release.