Thermal Technology Distribution Solutions (Gryphon Investors) Acquires Applied Thermal Systems

Thermal Technology Distribution Solutions (TTDS) Acquires Thermal Devices

June 17, 2024

Industrial Services

Thermal Technology Distribution Solutions (TTDS), a distribution platform established by Gryphon Investors, has acquired Thermal Devices, a Mt. Airy, Maryland-based value-added distributor of electric heaters, controls, thermocouples and related products. The deal expands TTDS's footprint into the Mid-Atlantic and adds heat trace and engineering capabilities; Rob Strayton will remain with the company and retain a significant equity stake. Terms were not disclosed.

Thermal Technology Distribution Solutions (TTDS) Acquires Proheat Inc.

January 23, 2024

Industrial Services

Thermal Technology Distribution Solutions (TTDS), a distribution platform backed by Gryphon Investors, has acquired Proheat Inc., a La Grange, Kentucky-based distributor of industrial heaters, sensors, controls and technical support for manufacturers. Proheat's management, including President and CEO Steven W. Button, will remain with the company and retain a significant equity stake; terms were not disclosed.

Thermal Technology Distribution Solutions Acquires Southwest Heater and Controls

June 3, 2024

Industrial Services

Thermal Technology Distribution Solutions (TTDS), a distribution platform established by Gryphon Investors, has acquired Southwest Heater and Controls (SWHC), a Dallas-based value-added distributor of industrial electric heaters, sensors, controls and technical support to manufacturers. SWHC's management, led by Chris and David Hawkins, will remain with the business and retain a significant equity stake; terms were not disclosed.

Gryphon Investors' TTDS Platform Acquires Big Chief Inc.

September 18, 2023

Industrial Services

Gryphon Investors established a new platform, Thermal Technology Distribution Solutions (TTDS), and TTDS has completed the acquisition of Big Chief Inc., a Cincinnati-based distributor and fabricator of electric process heating and temperature control products. Management (including former President Terry Howe and former CCO Jeff Howe) will retain meaningful ownership; Gryphon plans to accelerate organic growth and pursue add-on acquisitions to scale the platform.

Active Thermal Solutions (LDR Partners) Acquires D&B Heat Transfer Products

October 14, 2025

Industrial Services

Active Thermal Solutions, a portfolio company of LDR Partners, has acquired D&B Heat Transfer Products, a Grand Rapids, Michigan–based radiator and heat-exchanger service provider. The add-on expands Active’s Midwest footprint, integrates D&B into the Active Radiator network, and broadens capabilities in DPF cleaning and aftermarket parts distribution to strengthen regional service coverage.

US Distribution LLC (TRS Capital) Acquires Thermosleeve USA

July 2, 2021

Manufacturing

US Distribution LLC, a TRS Capital company, has acquired Thermosleeve USA, a Cerritos, California-based supplier of heat-shrinkable tubing and related products. Thermosleeve will remain in Cerritos with founder David Levy and key staff staying on to support the transition as TRS looks to expand its U.S. manufacturing and distribution portfolio.