Thermal Technology Distribution Solutions (“TTDS” or the “Company”), a leading platform providing industrial temperature management and related products, today announced that it has acquired Thermal Products, an established provider of heat transfer and process equipment solutions. Terms of the transaction were not disclosed.
Thermal Products provides engineered thermal solutions, including heat exchangers, heating and cooling equipment, and related process equipment. The acquisition of Thermal Products expands TTDS’ capabilities across the thermal management spectrum, strategically adding complementary heat transfer expertise to the Company’s existing capabilities in electric process heating, temperature measurement, and control and related engineered solutions. Thermal Products will also benefit from TTDS’ broader commercial reach, technical resources, and investment capabilities while continuing to serve customers and suppliers at the highest levels through its existing team and relationships.
“Thermal Products is a highly complementary addition to TTDS that meaningfully expands the range of thermal solutions we can provide to customers,” said Jeff Collier, CEO of TTDS. “The team has built a strong reputation through deep technical expertise, responsive service and longstanding customer and supplier relationships, and we see significant opportunity to bring those capabilities to a broader set of customers across the TTDS platform. We are excited to welcome Kevin and the entire Thermal Products team and to support the business as it enters its next phase of growth.”
“We are incredibly proud of the business our team has built and the relationships we have developed with customers and suppliers,” said Kevin Sommerville, President of Thermal Products. “In TTDS, we found a partner that shares our commitment to technical excellence and customer service while bringing additional resources, capabilities and commercial reach that can help us scale. I am excited for what this partnership means for our employees, customers and suppliers, and for the opportunities ahead as part of the broader TTDS platform.”
Thermal Products represents the latest acquisition for TTDS, which was established in 2023 by Gryphon Investors, a leading middle-market private investment firm. Since its formation, TTDS has expanded through acquisitions including Big Chief, Proheat, Southwest Heater and Controls, Thermal Devices, Heat Tracing Sales, and Applied Thermal Systems.
“Thermal Products marks another important step in the continued growth of TTDS and reinforces the momentum we are seeing across the platform,” said Jeff Pembroke, Operating Partner and Co-Head of the Heritage Group at Gryphon Investors. “We established TTDS with a clear strategy to build scale in a highly fragmented market through a combination of organic growth and strategic M&A. The positive trajectory of the business continues to validate our thesis, and we remain actively focused on identifying partnerships with strong businesses and management teams that can help accelerate TTDS’ growth and better serve its customers.”
About Thermal Technology Distribution Solutions
Cincinnati, Ohio-based Thermal Technology Distribution Solutions was established in 2023 by Gryphon Investors as a platform to provide industrial temperature management and related products. Through its family of businesses, TTDS provides industrial customers with thermal management products, application expertise and engineered solutions across a range of end markets.
About Gryphon Investors
Gryphon Investors is a leading middle-market private investment firm focused on growing competitively-advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, and Technology Solutions & Services sectors. With more than $10 billion of assets under management, Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital Funds. Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and management teams and generate enduring value through its integrated deal and operations business model. Gryphon’s highly-differentiated model integrates its well-proven Operations Resources Group led by full-time senior operating executives and functional experts in artificial intelligence, capital markets, finance & accounting, human capital and information technology. To learn more, please visit www.gryphoninvestors.com.
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