US Distribution LLC (TRS Capital) Acquires Thermosleeve USA

Tommie Copper Acquires Freeze Sleeve

October 7, 2025

Consumer Products

Tommie Copper, a Tengram Capital portfolio company, has acquired Freeze Sleeve, a maker of gel cooling cold-therapy sleeves for at-home use. The acquisition expands Tommie Copper's pain-management product portfolio and integrates Freeze Sleeve's cold-therapy technology into its direct-to-consumer and retail channels; terms were not disclosed.

Thermal Technology Distribution Solutions (Gryphon Investors) Acquires Applied Thermal Systems

December 11, 2024

Industrial Services

Thermal Technology Distribution Solutions (TTDS), a Gryphon Investors–backed distribution platform, has acquired Applied Thermal Systems, a Minneapolis-area value-added distributor of electric heaters, controls, thermocouples and related engineering services. The add-on expands TTDS's footprint in the Upper Midwest and strengthens its product and technical capabilities; terms were not disclosed.

Thermal Technology Distribution Solutions (TTDS) Acquires Thermal Devices

June 17, 2024

Industrial Services

Thermal Technology Distribution Solutions (TTDS), a distribution platform established by Gryphon Investors, has acquired Thermal Devices, a Mt. Airy, Maryland-based value-added distributor of electric heaters, controls, thermocouples and related products. The deal expands TTDS's footprint into the Mid-Atlantic and adds heat trace and engineering capabilities; Rob Strayton will remain with the company and retain a significant equity stake. Terms were not disclosed.

Thermal Technology Distribution Solutions Acquires Southwest Heater and Controls

June 3, 2024

Industrial Services

Thermal Technology Distribution Solutions (TTDS), a distribution platform established by Gryphon Investors, has acquired Southwest Heater and Controls (SWHC), a Dallas-based value-added distributor of industrial electric heaters, sensors, controls and technical support to manufacturers. SWHC's management, led by Chris and David Hawkins, will remain with the business and retain a significant equity stake; terms were not disclosed.

Thermal Technology Distribution Solutions (TTDS) Acquires Proheat Inc.

January 23, 2024

Industrial Services

Thermal Technology Distribution Solutions (TTDS), a distribution platform backed by Gryphon Investors, has acquired Proheat Inc., a La Grange, Kentucky-based distributor of industrial heaters, sensors, controls and technical support for manufacturers. Proheat's management, including President and CEO Steven W. Button, will remain with the company and retain a significant equity stake; terms were not disclosed.

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.