Southwest Heater & Controls Inc. (SWHC) has become the latest addition to Gryphon Investors' platform for temperature-management product companies, Thermal Technology Distribution Solutions (TTDS).
Gryphon announced June 3 that it has acquired Dallas-based SWHC for an undisclosed amount. The move broadens Cincinnati-based TTDS' presence into the Southwest.
SWHC is the third addition to TTDS since Gryphon formed the platform in September. The TTDS platform includes Big Chief Inc. of Cincinnati and Proheat Inc. of La Grange, Ky. All three companies are value-added distributors of auxiliary equipment including hot-runners, barrels, screws, heaters, sensors and pressure transducers.
"As we considered our options for a long-term partner, joining the TTDS platform as it rapidly scales was the obvious answer," SWHC President and owner Chris Hawkins said in a news release. "The financial and operational support offered by TTDS and Gryphon Investors will help us build on our success."
Family-owned SWHC was founded in 1980. Gryphon said Hawkins and the SWHC management team will remain with the company and maintain a significant equity stake.
San Francisco-based Gryphon's other plastics-related investments include sheet extruder Pacur, compounder Techmer PM and additives supplier Vivify Specialty Ingredients.