Thermex-Thermatron Systems Acquires JTE Machines

SPX Technologies Acquires Thermolec

January 20, 2026

Manufacturing

SPX Technologies has completed the acquisition of Montréal-based Thermolec Ltd. for CA$195 million (approximately US$140 million). Thermolec, a manufacturer of custom electric duct heating and related HVAC solutions with nearly 200 employees and about US$35 million in annual revenue, will join SPX's HVAC Electric Heat business to expand product capabilities and grow sales in the U.S. and Canada.

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.

MIRATECH Acquires Powertherm Maxim

February 16, 2023

Manufacturing

MIRATECH Group, LLC has acquired Powertherm Maxim, a Houston-based manufacturer of industrial reciprocating engine silencers, exhaust and intake systems, and related accessories, from the Nesloney family. The deal expands MIRATECH's manufacturing capacity (adding a 100,000 sq. ft. Houston fabrication shop), broadens its product portfolio and customer reach across power generation, energy infrastructure, marine and industrial markets.

Teledyne Technologies to Acquire ETM-Electromatic

October 26, 2022

Medical Devices

Teledyne Technologies Incorporated has entered into an agreement through a wholly-owned subsidiary to acquire ETM-Electromatic, Inc. (ETM). ETM designs and manufactures high-power microwave and high-energy X-ray subsystems used in cancer radiotherapy, defense, and X-ray security applications.

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.

Newtex Industries Acquires Thermostatic Industries, Inc.

July 26, 2017

Manufacturing

Newtex Industries has completed its acquisition of Thermostatic Industries, Inc., a California-based distributor of high-temperature fabrics and fabricated insulation. The deal adds West Coast distribution for Newtex, expands its advanced high-temperature fabrics portfolio (including distribution rights to 3M Nextel ceramic fabrics), and relocates Thermostatic operations to a modern facility in Rancho Cucamonga, California.