Blackstone Energy Partners Acquires Therma Holdings (and RE Tech Advisors) from Gemspring Capital

Therma Holdings Acquires Integrated Mechanical Systems

February 25, 2019

Industrial Services

Therma Holdings LLC, a portfolio company of Gemspring Capital, has acquired the assets of Integrated Mechanical Systems, an Irwindale, California-based provider of mechanical design, fabrication, construction and maintenance services. The acquisition is intended to accelerate Therma's service offering and scale in Southern California by combining Integrated Mechanical into Therma's existing Southern California operations.

Therma Holdings Acquires CMTA and Building Systems Holdings to Expand Energy & Sustainability Platform

July 16, 2021

Engineering Services

Therma Holdings, a Blackstone portfolio company, agreed to acquire CMTA and Building Systems Holdings (BSH) to expand its engineering and energy services platform for high-performance buildings across the United States. The add-on acquisitions bring expanded MEP/energy-efficiency engineering, performance contracting, and construction management capabilities—adding over 150 professional engineers and broadening end-market coverage in healthcare, K‑12, higher education, federal and municipal facilities.

Therma Holdings Acquires Gilbert LLC

June 8, 2020

Industrial Services

Therma Holdings, a Gemspring Capital portfolio company, has acquired Gilbert LLC, a Minneapolis-area provider of mechanical, electrical, plumbing, controls and fire protection services. The deal is Therma's fourth add-on since partnering with Gemspring and is intended to expand Therma's capabilities and presence in the Twin Cities market, particularly for mission-critical facilities such as healthcare.

Therma Holdings Acquires Bel-Aire Mechanical

November 11, 2021

HVAC & Mechanical

Therma Holdings, a Blackstone portfolio company, has acquired Phoenix-based Bel-Aire Mechanical to expand its mechanical and plumbing services footprint in Arizona. The acquisition adds over 400 professionals and broadens Therma's capabilities and geographic reach across mission-critical end markets such as data centers, semiconductors, and biopharma.

Therma Holdings Acquires Yearout Mechanical

January 15, 2019

HVAC & Mechanical

Therma Holdings LLC, a Gemspring Capital-backed Bay Area mechanical services platform, has acquired Yearout Mechanical, a design-build HVAC, plumbing and piping services provider based in Albuquerque, New Mexico. The acquisition expands Therma's geographic footprint into the New Mexico market and adds in-house fabrication and design-build capabilities to its platform.

Pemberstone Capital Partners Acquires Sterling Thermal Technology Ltd

March 18, 2024

Manufacturing

Pemberstone Capital Partners has acquired Sterling Thermal Technology Ltd, a specialist UK-based manufacturer of custom heat exchangers, from existing investors including Nova Capital Management and Caledonia Investments. The transaction provides an exit for the selling investors while giving Sterling access to growth capital and expertise to accelerate its domestic and international expansion.