Thermon Group Holdings, Inc. (NYSE:THR) acquired Vapor Power International, LLC from Stone Pointe, LLC and members of Vapor Power?s management team on December 29, 2023. Vapor Power realized revenue of over $50 million in the calendar year ended December 31, 2023. The acquisition was funded with cash on hand and an expanded term loan under Thermon's existing credit agreement. Thermon expects the transaction to be accretive to GAAP earnings per share in the first twelve months. Thermon was represented by Fifth Third Securities, Inc. as financial adviser and Shook, Hardy & Bacon LLP as legal counsel. Vapor Power was advised on the transaction by CIBC US Middle Market Investment Banking and Locke Lord LLP.

Thermon Group Holdings, Inc. (NYSE:THR) completed the acquisition of Vapor Power International, LLC from Stone Pointe, LLC and members of Vapor Power?s management team for approximately $110 million on December 29, 2023. The total purchase price for Vapor Power was $107.523 million, with cash acquired of $7.051 million, for a net closing purchase price of $100.472 million. The total purchase price is based on customary adjustments for cash acquired, preliminary working capital adjustments, outstanding indebtedness, and transaction expenses.