Thermal Technology Distribution Solutions (TTDS), a platform for temperature-management product companies, has purchased Thermal Devices Inc., distributor of industrial electric heaters, controls and other related products.
Also included in the transaction is Heat Tracing Sales, the company's heat trace cables, controls and engineering support business serving mechanical and electrical contractors.
Terms of the deal were not disclosed. Rob Strayton, the son of TD founder William Strayton, will remain with the Mount Airy, Md.-based company and retain an equity stake.
"Thermal Devices is an exciting company that expands our footprint into the Mid-Atlantic and augments TTDS' heat trace and engineering capabilities," said Jeff Collier, CEO for TTDS, in a news release.
"Thermal Devices provides TTDS with a physical base to better service customers in the East and reinforces TTDS' position as the nation's leading provider of thermal management solutions."
Thermal Devices was founded by William Strayton 50 years ago and has been run by his son, Rob, for the last three decades.
"Partnering with TTDS and Gryphon allows Thermal Devices to build upon the successful legacy and reputation that we have established in the Mid-Atlantic for over half a century," Rob Strayton said in a news release.
This is the fourth investment for Cincinnati-based TTDS since the company opened in September 2023. The company has acquired Big Chief Inc., Proheat, and Southwest Heater and Controls Inc.