The US-based manufacturer of highly engineered heat exchanger components and assemblies, ThermaSys Corporation, has announced the acquisition of two UK heat transfer manufacturers for an undisclosed sum.
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, the company states, to provide sales synergies between the businesses and to leverage reciprocal product suites within new and existing end-markets and geographies.
ThermaSys is an affiliated portfolio company of Sun Capital Partners, a private investment firm specialising in leveraged buyouts and investments in market-leading companies.
“We are excited about the growth opportunities the acquisition of Covrad and Serck Heat Transfer presents for our company,” said 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.”
CEO Kayvan Namazi, who previously led the acquired businesses, will stay on at ThermaSys as managing director.