BOSTON–(Small business WIRE)–Jun 2, 2022–
Audax Private Equity (“Audax”) nowadays announced it has obtained Thermogenics, Inc. (“Thermogenics” or the “Company”), a leading North American provider of boiler assistance & servicing, machines profits and rentals, from Ironbridge Equity Associates and sure other minority investors. Money phrases of the transaction ended up not disclosed. Thermogenics represents the to start with financial commitment by Audax’ Origins Fund I.
Headquartered in Ontario with operations in Canada and the US, Thermogenics specializes in offering entire boiler lifecycle solutions to a assorted established of professional and industrial buyers and stop markets. To complement its support-pushed business enterprise model, the Corporation layouts and suppliers differentiated, strength economical boilers with proprietary coil-tube technological know-how, and offers best-in-course pieces and routine maintenance products and services through its very-properly trained group of specialists.
Ross Garland, CEO of Thermogenics, commented, “We are thrilled to be partnering with Audax as we enter an exciting new chapter in our heritage. This financial commitment will assist Thermogenics accelerate expansion and extend its boiler solution and company offerings to prospects. Partnering with Audax will only increase our capacity to proceed executing what we do ideal – supplying reliable solutions to our clients.”
“We are energized to companion with Ross and the relaxation of the Thermogenics management staff to accelerate the advancement of the Enterprise and establish upon their success as a best-in-class supplier of boiler methods,” stated Greg Smith, Running Director at Audax Personal Fairness.
“Led by a planet-course management crew, Thermogenics has formulated an great standing in the sector as the leading provider of coil-tube boiler goods, components and expert services,” reported Don Bramley, Controlling Director at Audax Private Fairness. “We believe that Thermogenics’ large-high quality item and company offerings and faithful shopper base complement our portfolio of business major corporations.”
Solomon Partners served as money advisor to Audax and KeyBanc Funds Marketplaces served as economical advisor to Thermogenics. Kirkland & Ellis and Blakes served as authorized counsel to Audax and Davies served as authorized counsel to Thermogenics.
About Audax Personal Fairness
Audax Group is a main choice financial investment supervisor with places of work in Boston, New York, and San Francisco. Since its founding in 1999, the business has raised above $30 billion in capital throughout its Non-public Equity and Personal Financial debt firms. Audax Personal Fairness has invested in excess of $9 billion in 150 platforms and about 1,050 insert-on organizations, and is presently investing out of its $3.5 billion, sixth personal fairness fund. By way of its disciplined Acquire & Make strategy, Audax Personal Equity seeks to aid platform organizations execute increase-on acquisitions that fuel revenue growth, enhance operations, and substantially maximize fairness value. With more than 300 staff members, Audax is a major cash lover for North American middle marketplace firms. For additional facts, visit the Audax Private Fairness internet site: www.audaxprivateequity.com or stick to us on LinkedIn.
Thermogenics is a foremost North American producer of coiled tube steam, scorching drinking water and thermal fluid boilers and relevant devices. This item portfolio is mainly utilized inside industrial, industrial and institutional apps serving a assortment of close markets which includes healthcare and hospitals, food and beverage and pharmaceutical. The Business also provides most effective-in-class sections and 24/7 service assistance delivered via manufacturing unit-properly trained specialists, and manages a fleet of exceptional rental boilers to serve temporary or emergency requires. With its extensive products and assistance providing, Thermogenics capabilities as a one-cease store for all of its customers’ most advanced steam and heating specifications. The business operates from its head workplace in Aurora, ON and maintains operations in Jacksonville, FL, Cincinnati, OH, and Ottawa, ON.
Julie Rudnick / Zak Tramonti
Key word: MASSACHUSETTS UNITED STATES NORTH The usa CANADA
Market Search term: OTHER Production FINANCE ENGINEERING OTHER Electrical power UTILITIES Expert Solutions Production Power OTHER Skilled Solutions
Resource: Audax Non-public Equity
Copyright Business enterprise Wire 2022.
PUB: 06/02/2022 11:42 AM/DISC: 06/02/2022 11:42 AM
Copyright Business enterprise Wire 2022.