Louisville, KY – Druid Capital Partners, LLC (“Druid Capital”) today announced that it has completed the acquisition of Thermex-Thermatron, LP (“Thermex”). Thermex was founded more than 75 years ago and is a leading manufacturer of high-power industrial radio frequency (“RF”) and microwave (“MW”) systems for heating dielectric materials. The advantages of dielectric heating include high production throughput, increased efficiency, reduced equipment sizes, improved process control, selective heating, and enhanced product quality. Thermex sells equipment and accessories around the globe to many well-known customers. Druid Capital is partnering with the existing Thermex management team led by President/CEO Ray Lund.
High power MW and RF systems are based on well-established technology that directly targets heat to specific areas of various non-metallic / non-conductive materials for heating, drying, sealing, and curing purposes in a broad range of production and material handling processes. MW equipment includes ovens, batch ovens, and generators. Thermex sells these systems for use in a wide range of applications, including drying and curing production processes. RF presses are commonly referred to as RF heat sealers or welders and are typically used to weld or fuse thermoplastic materials (PVC, PET, and others) in Automotive, Medical and Packaging industries. RF dryers are also known as RF ovens and include batch drying systems, most critical in the manufacturing of products with relatively high loss factors, providing faster and more uniform drying and curing.
Ray Lund, President/CEO of Thermex, said, “This partnership with Druid Capital has allowed us to provide some liquidity to a wonderful group of shareholders that have been with us since 2006, while also strongly positioning our company to continue serving our customers and capitalize on various growth opportunities. The Thermex team is looking forward to working with Druid Capital as we continue to expand our business around the globe. We are excited for what the future holds for Thermex-Thermatron.”
Martin Holt, Managing Partner with Druid Capital, said, “We are very pleased to complete the Thermex transaction, and to partner with Ray and his team. Their staff of engineers, designers, service and production personnel include some of the most experienced and knowledgeable professionals in the microwave and radio frequency industries, evidenced by the strong reliance placed on them by the company’s customers.”
About Thermex-Thermatron – Thermex is the industry leader in manufacturing Industrial RF Welding and RF Sealing Equipment, Industrial Microwave Systems, and Industrial Thermal Press Sealing Systems. Bringing more than 75 years of expertise to the table to help you improve manufacturing quality and productivity, to help address new production challenges. The result is a better engineered product that has been customized to the unique needs of your industry or company. For more information, please visit www.thermex-thermatron.com.
About Druid Capital Partners – Druid Capital Partners is a boutique investment manager focused on investing in private companies in the Southeast, targeting specialty manufacturing, distribution, and industrial services. Druid Capital invests via majority acquisitions and recapitalizations in established companies alongside motivated, entrepreneurial owners and managers, providing a reliable, trusted, and local source of equity capital. For more information, please visit www.druidcapital.com.
