Gryphon-backed TTDS acquires Thermal Devices

• TTDS is a provider of industrial temperature management solutions and related products
• The leader of Thermal Devices, Rob Strayton, will remain with the company and retain a significant share of the share capital
• Gryphon invests in the middle market

Thermal Technology Distribution Solutions, backed by Gryphon Investors, has acquired Thermal Devices, a Maryland-based distributor of industrial electric heaters, controllers, thermocouples and related products to manufacturers. No financial terms were disclosed.

The transaction also includes Heat Tracing Sales, a heating cable, control and engineering support company serving mechanical and electrical contractors.

TTDS is a provider of industrial temperature management solutions and related products.

The leader of Thermal Devices, Rob Strayton, will remain with the company and retain a significant share of the share capital.

Thermal Devices is the fourth investment of TTDS, founded in September 2023 by Gryphon Investors.

“The completion of three additional acquisitions within a few months of TTDS’s founding confirms our position as the clear acquirer of choice for distributors of thermal management products,” Jeff Pembroke, operating partner of Gryphon’s Heritage Fund, said in a statement. “We continue to pursue organic growth and acquisition opportunities with high-quality channel partners who are aligned with TTDS’ vision of providing the highest levels of support to our customers and suppliers.”

Gryphon invests in the middle market.