CECO Environmental Corp. to Acquire Thermon Group Holdings in $2.2 Billion Stock-and-Cash Deal
February 26, 2026
CECO Environmental entered into a definitive stock-and-cash merger agreement to combine with Thermon Group Holdings in a transaction valued at approximately $2.2 billion. The combined company will continue under the CECO Environmental name, with CECO shareholders expected to own about 62.5% and Thermon shareholders about 37.5% at closing. The companies project approximately $40 million in annual cost synergies within 36 months and expect to close in mid-2026, subject to customary conditions and approvals (later reported as completed on June 1, 2026).
- Buyers
- CECO Environmental Corp.
- Targets
- Thermon Group Holdings, Inc.
- Industry
- Industrial Services
- Location
- Texas, United States
- Transaction Type
- Buyout
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