Thermogenics, Inc.
Overview
| Deal Type |
Mergers & Acquisitions |
|---|---|
| Client & Transactional Partners |
Thermogenics, Inc. Ironbridge Equity Partners Audax Private Equity |
| Our Role |
Sell-Side Advisor |
Summary
On May 27, 2022, KeyBanc Capital Markets (KBCM) successfully advised Thermogenics, Inc. (Thermogenics or the Company), a portfolio company of Ironbridge Equity Partners (Ironbridge), on its sale to Audax Private Equity. Thermogenics engaged KBCM as its Sell-Side Advisor based on its industry-leading Industrial & Business Services Practice and proven M&A execution capabilities.
Headquartered in Aurora, Ontario, Thermogenics is a leading North American provider of commercial and industrial boiler service & maintenance and rentals serving the food processing, manufacturing, healthcare and institutional end markets. The Company’s service-first business model creates deeply embedded customer relationships and drives highly recurring revenue.
Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies. Target industries include consumer and business products and services, manufacturing, and distribution. The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses. Ironbridge’s assets under management are over $700 million, including its fourth private equity fund, Ironbridge Equity Partners IV, LP, a fully committed $383 million fund raised in November 2021.
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $30 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $9 billion in 150 platforms and over 1,050 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 300 employees, Audax is a leading capital partner for North American middle market companies.
