TTDS takes over thermal devices; Fourth contract from launch in 2023

In its fourth transaction since its launch in 2023 and second this month, Thermal Technology Distribution Solutions (TTDS) has acquired Thermal Devices to expand its footprint in the Mid-Atlantic region and increase its thermal and engineering capabilities.

TTDS is an industrial thermal management product distribution platform founded in September 2023 by mid-market private equity firm Gryphon Investors through Gryphon’s Heritage Fund, the company’s small-cap fund strategy.

Thermal Devices is a value-added distributor of industrial electric heaters, controllers, thermocouples and related products to manufacturers. The transaction also includes Heat Tracing Sales, a heating cable, control and engineering support company serving mechanical and electrical contractors.

“Thermal Devices provides TTDS with a physical base to better serve customers in the East and strengthens TTDS’ position as the nation’s leading provider of thermal management solutions,” TTDA CEO Jeff Collier said in a June 17 press release.

Founded over 50 years ago by William StraytonThermal Devices has been run by his son for thirty years Rob Straytonwho will remain with Mount Airy, Marylandbased in this company and will retain a significant share in the share capital. Terms of the transaction were not disclosed.

“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,” said Jeff Pembroke, operating partner of Gryphon Heritage Fund. “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.”