ThermaSys Corporation, a US manufacturer of highly engineered copper, brass and aluminum heat exchanger components and assemblies, has acquired Covrad Holdings and Serck Heat Transfer, two UK-based manufacturers of heat transfer products. Terms of the transaction were not disclosed.
ThermaSys, headquartered in Montgomery, Alabama, is an affiliated portfolio company of private investment firm Sun Capital Partners, Inc, a specialist in leveraged buyouts and investments in market-leading companies.
Covrad Holdings and Serck Heat Transfer produce a wide range of products including radiators, charged air coolers, and oil coolers for OEM and aftermarket customers in the power generation, rail, marine, and transportation sectors worldwide. The two sister companies will be fully integrated into the ThermaSys platform, resulting in unique sales synergies between the businesses and an ability to leverage reciprocal product suites within new and existing end-markets and geographies.
“We are excited about the growth opportunities the acquisition of Covrad and Serck Heat Transfer presents for our company,” says Paul Schmitz, Chief Executive Officer of ThermaSys. “The two businesses are highly complementary to ThermaSys, and combining them gives us a powerful platform with a significantly larger presence in Europe that enhances our ability to serve existing and prospective customers.”
