Thermal Technology Distribution Solutions (TTDS), a platform for the distribution of industrial temperature management and related products, announced it has acquired Proheat Inc., a distributor of heaters, sensors, controls and comprehensive technical support to manufacturers.
Based in La Grange, KY, Proheat's experienced management team, including President and CEO Steven W. Button, will remain with the company and maintain a significant equity stake.
Button commented, "We are honored to be a core early member of the TTDS platform as it rapidly scales. We appreciate the financial and operational support from TTDS and Gryphon Investors and look forward to a productive partnership that upholds the quality and service our suppliers and customers have come to expect."
TTDS was established in September 2023 by middle-market private equity firm Gryphon Investors through Gryphon's Heritage Fund, the firm's small-cap fund strategy. This is the second investment for TTDS. Its initial investment was Big Chief, Inc., a distributor of electric process heating and temperature control products for the industrial market.
Jeff Collier, CEO of TTDS, said, "We are excited to welcome Steven and Proheat to TTDS. They are an important addition to our growing team of leading distributors of thermal management solutions. Proheat enhances our ability to be a value-added partner to suppliers, while increasing the breadth of products and services for our customers."
"We partner with outstanding companies who offer high quality solutions that meet the unique challenges of our customers," said Jeff Pembroke, Operating Partner of Gryphon's Heritage Fund. "In this highly fragmented market, we are actively pursuing multiple organic and acquisition opportunities that leverage Gryphon's proven experience with value-added distribution businesses."
For more information contact:
Thermal Technology Distribution Solutions
5150 Big Chief Drive
Cincinnati, OH 45227
513-540-0756
www.gobigchief.com
Proheat Inc.
P.O. Box 48
117 E Adam St.
LaGrange, KY 40031
sales@proheat.net
www.proheat.com
Gryphon Investors
One Maritime Plaza, Ste. 2300
San Francisco, CA 94111
415-217-7400
info@gryphoninvestors.com
www.gryphon-inv.com