Eaton Acquires Exertherm

Eaton Acquires Boyd Thermal From Boyd Corporation / Goldman Sachs Asset Management for $9.5 Billion

March 12, 2026

IT Services

Eaton announced it has completed (and previously agreed) to acquire the Boyd Thermal business from Boyd Corporation, with the Thermal business sold from Goldman Sachs Asset Management. The transaction strengthens Eaton’s data center “grid-to-chip” power and liquid-cooling infrastructure offering and is expected to be accretive to adjusted earnings in year two after closing.

Thermon Group Holdings Acquires Vapor Power International

January 15, 2024

Manufacturing

Thermon Group Holdings, Inc. (NYSE: THR) has acquired Vapor Power International, a provider of electric and gas-fired boilers and steam generators, from StonePointe LLC and members of Vapor Power's management. The acquisition (reported at approximately $110 million) expands Thermon's product portfolio into electric resistance, electrode and super critical coil tube boilers, supporting its electrification and decarbonization strategy.

The Exigent Group (Huron Capital) Acquires Ambient Temperature Corp. and Global Facility Solutions

October 31, 2023

Industrial Services

Huron Capital’s ExecFactor platform, The Exigent Group, acquired Ambient Temperature Corp. (ATCO), a union mechanical services provider based in Newburyport, Massachusetts, and Global Facility Solutions (GFS), an energy-efficiency and engineering services firm based in Columbia, Maryland. These transactions are add-on acquisitions for Exigent that expand its geographic coverage into New England and broaden its sustainability, energy-efficiency, and engineering capabilities across the platform’s eastern U.S. footprint.

Druid Capital Partners Acquires Thermex-Thermatron

July 1, 2023

Manufacturing

Druid Capital Partners has completed the acquisition of Thermex-Thermatron, a long-established manufacturer of high-power industrial RF and microwave heating systems, partnering with Thermex management led by President/CEO Ray Lund. The transaction provides liquidity to existing shareholders and positions Thermex to pursue growth opportunities while continuing to serve global customers across automotive, medical and packaging markets.

Watlow Signs Agreement to Acquire Eurotherm from Schneider Electric

June 8, 2022

Industrial Services

Watlow, an industrial thermal systems manufacturer, signed an agreement to acquire Eurotherm from Schneider Electric. The terms were not disclosed. The companies expect to combine Eurotherm’s temperature/power/process controls and software capabilities with Watlow’s thermal systems focus to better serve shared industrial markets and expand globally.

BITZER US Acquires ElectraTherm

January 30, 2017

Manufacturing

BITZER US, Inc., a subsidiary of the BITZER Group, has acquired ElectraTherm, a Reno, Nevada-based manufacturer of waste heat-to-power systems. The purchase adds ElectraTherm's Organic Rankine Cycle technology and Power+ Generator product line to BITZER's commercial refrigeration and heat-exchange portfolio to expand product capabilities and accelerate clean, fuel-free power offerings.