Author - peterdowse

Thermogenics acquires Yown’s Boiler & Furnace Service

(Aurora, ON. March 6th, 2020) Thermogenics Inc. (“Thermogenics”), an Ironbridge portfolio company, is pleased to announce it has acquired Yown’s Boiler & Furnace Service, Inc. based in Jacksonville, FL (“Yown’s”).

Founded in 1979, Yown’s is a full service boiler and industrial process burner company, providing sales, service, installation, and repairs of boilers, pressure vessels, piping systems, and industrial combustion applications. The company is led by an experienced management team, and is regarded as an established regional player in the Southeast US.

Thermogenics is a leading North American manufacturer of coiled tube steam, hot water and thermal fluid boilers and related equipment. This product portfolio is primarily used within industrial, commercial and institutional applications, serving a variety of end markets including healthcare and hospitals, food and beverage and pharmaceutical. The company also provides best-in-class parts and 24/7 service support delivered via factory-trained technicians, and manages a fleet of unique rental boilers to serve temporary or emergency needs. With its comprehensive product and service offering, Thermogenics functions as a one-stop shop for all of its customers’ most complex steam and heating requirements. The company operates from its head office in Aurora, ON and maintains sales and service operations in Chicago, IL, Cincinnati, OH, and Ottawa, ON.

The acquisition of Yown’s pushes forward Thermogenics’ US growth strategy, and allows the company to establish a strong presence in the US Southeast.  “We are very excited about the strategic fit between Yown’s and Thermogenics and believe there are many opportunities for customers, product vendors, and employees,” states Ross Garland, CEO, of Thermogenics. “Yown’s’ impressive product vendor line up and long history of customer centered service and leadership in the US Southeast is a perfect complement to Thermogenics’ regional expansion efforts.”

Gary Yown, President and owner of Yown’s, will remain with the combined entity to help ensure a smooth transition and continued success. “This is a tremendous opportunity for our service customers, product vendors and employees,” explains Mr. Yown. “By joining forces with Thermogenics, we complement our existing product offering, expand the solution set we bring to customers in the region, and take Yown’s to the next level.”

The Ironbridge team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value.

For more information, contact:

Jeff Murphy

Partner
Ironbridge Equity Partners
(416) 863-0107
www.ironbridgeequity.com

Ross Garland
CEO
Thermogenics Inc
(416) 727-1901
www.thermogenics.com

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CMP Group acquires MarineTech Products

(Delta, BC. March 9th, 2020) CMP Group Ltd (“CMP”), an Ironbridge portfolio company, is pleased to announce it has acquired MarineTech Products, Inc. based in Vadnais Heights, MN (“MarineTech”).

Founded in 2000, MarineTech started with a single proven product line, NAVIGATOR Engine mounted Electric Trolling Motors. Through hard work, strategic planning and solid industry partnerships, MarineTech has grown to five, well-established marine product brands including Panther™, TROLLMaster™, EZ-Steer®, Navigator® and Angler’s Pal, offering boaters hundreds of quality, innovative products.

CMP Group, headquartered in Vancouver, BC creates products and services for the marine industry that allow people to enjoy time on and around the water.  The Company has manufacturing operations in Vancouver & Toronto, Canada; Genoa, Italy; Norfolk, USA and Ningbo, China and has a product range that extends from marine corrosion, dock products, anchoring solutions to steering and controls. CMP’s respected brands include: Martyr™ sacrificial anodes, Dock Edge +® dock & boating solutions, Rocna® & Vulcan® anchors, Titan® Marine Products, Octopus® Autopilot Drive Systems, Intellisteer® Remote Steering Systems and Seaguard® corrosion protection systems.

The acquisition of MarineTech continues CMP’s strategy to grow its US presence and strengthens its position in the recreational marine industry.  “We are very excited about the strategic fit between MarineTech and CMP and believe that there are many advantages and opportunities for our customers, supply partners and our team” states Don Hambly, President & CEO, CMP Group. “MarineTech’s customer base and product offering are a perfect complement to CMP’s growing marine business.”

Larry Grundtner, founder and owner of MarineTech will remain with the combined entity to help ensure a smooth transition and continued success. He commented that “This is a tremendous opportunity for MarineTech and our customers.” explains Larry Grundtner.  “By joining forces with CMP, we will leverage the expertise and resources of CMP to take MarineTech to the next level.”

The Ironbridge team of eleven investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value.

For more information, contact:

Peter Samson
Managing Partner
Ironbridge Equity Partners
(416) 863-0102
www.ironbridgeequity.com

Don Hambly
CEO
CMP Group Ltd.
(604) 952-2664
www.cmpgroup.net

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