Thermal Technology Distribution Solutions acquires Thermal Devices
Thermal Technology Distribution Solutions (TTDS), a platform for the distribution of industrial temperature management and related products, today announced it has acquired Thermal Devices (TD), a value-added distributor of industrial electric heaters, controls, thermocouples, and related products to manufacturers. The transaction includes Heat Tracing Sales, TD's heat trace cables, controls, and engineering support business serving mechanical and electrical contractors.
Founded more than 50 years ago by William Strayton, Thermal Devices has been led for three decades by his son Rob Strayton, who will remain with the Mt. Airy, Maryland-based company and will retain a significant equity stake. Terms of the transaction were not disclosed.
“Thermal Devices is an exciting company that expands our footprint into the Mid-Atlantic and augments TTDS’ heat trace and engineering capabilities,” said Jeff Collier, CEO of TTDS. “Thermal Devices provides TTDS with a physical base to better service customers in the East and reinforces TTDS’ position as the nation’s leading provider of thermal management solutions.”
Thermal Devices marks the fourth investment for TTDS, established in September 2023 by middle-market private equity firm Gryphon Investors through Gryphon's Heritage Fund, the firm's small-cap investment strategy. TTDS previously acquired Big Chief, Inc., Proheat, and Southwest Heater and Controls.
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