Thermon Group Holdings Acquires Vapor Power International

Thermogenics Acquires Halmar Boiler Parts to Expand North American Boiler Parts Network

August 14, 2026

Industrial Services

Thermogenics acquired Halmar Boiler Parts, adding a Louisville, Kentucky manufacturing and distribution operation to Thermogenics’ North American boiler services platform. The deal strengthens Thermogenics’ ability to manufacture, stock, and distribute OEM and aftermarket boiler components with large ready-to-ship inventory and same-day shipping.

CECO Environmental Corp. to Acquire Thermon Group Holdings in $2.2 Billion Stock-and-Cash Deal

February 26, 2026

Industrial Services

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).

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.

Audax Private Equity Acquires Thermogenics, Inc.

June 2, 2022

Manufacturing

Audax Private Equity has acquired Thermogenics, Inc., a North American designer, manufacturer and service provider of coil‑tube boilers, from Ironbridge Equity Partners and certain other minority investors. The transaction — the first investment by Audax's Origins Fund I — will support Thermogenics' growth initiatives and expansion of its boiler product and service offerings across Canada and the U.S.

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

November 9, 2020

Engineering Services

Private equity funds managed by Blackstone Energy Partners have entered into a definitive agreement to acquire Therma Holdings LLC, a specialty mechanical, electrical and controls services provider, from Gemspring Capital. Blackstone is also acquiring RE Tech Advisors, Inc. and will integrate it into Therma to expand energy efficiency, sustainability and building management capabilities; the combined business will support mission-critical facilities across technology, life sciences, healthcare and data center end markets.

Thermogenics Acquires Yown's Boiler & Furnace Service

March 6, 2020

HVAC & Mechanical

Thermogenics Inc., an Ironbridge Equity Partners portfolio company, has acquired Yown's Boiler & Furnace Service, Inc., a Jacksonville, Florida-based full-service industrial boiler and burner service provider. The acquisition is an add-on to Thermogenics' platform intended to expand the company's presence in the U.S. Southeast and broaden its service and product offering for industrial, commercial and institutional customers.