The transaction is complete, focus is renewed and a new president is in place at Spectra Premium Mobility Solutions.
The company — which was recently formed by New York-based private investment firm Turnspire Capital Partners — that it has completed the purchase of the assets of Spectra Premium Industries Inc.
In an announcement, the company called this “a new era for Spectra Premium.”
It will focus its development and commercial efforts on specific product segments: Heat transfer, engine management and undercar. Thanks to a strong balance sheet and its parent company’s strategic, operational and financial resources, Spectra will be enhancing its product offers to both aftermarket and original equipment manufacturer customers.
And a new leader will be entering the fold. Josh Gordon has been brought in as Spectra’s president and chief operating officer. In the announcement, the company highlighted Gordon as a proven business leader. Be brings a successful track record in the automotive and consumer products industries. Gordon will manage strategic, commercial and operational activities for Spectra. He will work closely with chief executive officer Denis Chabot and the rest of Spectra’s management team.
“The completion of this transaction allows us to focus on the future of the company,” said Chabot said in a statement. “We will serve our target markets with the same OE quality parts and category expertise that made Spectra Premium a market leader. Further, being conservatively capitalized will enable increased investment in operational capabilities, speed to market and new product technology. We are returning to our roots, but now even better.”