M&A Deal Summary

Thermon Acquires Powerblanket

On June 1, 2022, Thermon acquired manufacturer Powerblanket

Acquisition Highlights
  • This is Thermon’s 1st transaction in the Manufacturing sector.
  • This is Thermon’s 1st transaction in the United States.
  • This is Thermon’s 1st transaction in Utah.

M&A Deal Summary
Date 2022-06-01
Target Powerblanket
Sector Manufacturing
Buyer(s) Thermon
Deal Type Add-on Acquisition

Target

Powerblanket

Salt Lake City, Utah, United States
Powerblanket is a temperature control that provides patented standard and custom-made heating products, world-class industrial chillers and cooling wraps, and operates an industrial heating e-commerce website. Powerblanket was founded in 2005 and is based in Salt Lake City, Utah.

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Buyer(S) 1

Buyer

Thermon

Austin, Texas, United States
Category Company
Founded 1954
Sector Machinery
Employees1,227
Revenue 495M USD (2024)
DESCRIPTION

Thermon is a manufacturer of heat tracing equipment for petrochemical, oil and gas, engineering, and power end-markets. With operations in North America, Europe, Asia, and Australia, the company serves customers worldwide. Thermon was founded in 1954 and is based in Austin, Texas.

DEAL STATS #
Overall 2 of 2
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Utah) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-04 CCI Thermal Technologies

Edmonton, Alberta, Canada

CCI Thermal Technologies, Inc. is a developer of advanced heating and filtration solutions for industrial and hazardous area applications. CCI’s business to date has been focused on serving customers’ heating and filtration solutions for industrial and hazardous area applications primarily in North America.

Buy CA$258M
Mergr

Product

Company

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