Thermon Expands Electric Heater Offering Through Acquisition of F.A.T.I.
Thermon Group Holdings, Inc. (NYSE:THR) has announced the acquisition of Fabbrica Apparecchiature Termoelettriche Industriali S.r.L. (F.A.T.I.), a Milan-based manufacturer of electric heaters for industrial applications. F.A.T.I. is a leading designer and manufacturer of electrical heaters and heating systems for various industrial end markets, including oil & gas, pharmaceutical, renewables, nuclear, and HVAC.
The acquisition is expected to broaden Thermon's geographic footprint and strengthen its platform to better serve the growing global market for electrification and decarbonization solutions. F.A.T.I.'s manufacturing facility in Milan and its extensive list of European certifications are seen as strategic assets for Thermon's expansion in Europe and Asia.
F.A.T.I. reported revenue of over 12 million euro in the calendar year ended December 31, 2023. The purchase price of 12.5 million euro, subject to customary adjustments, was funded with cash on hand.
Thermon Group Holdings, Inc. (NYSE:THR) ha annunciato l'acquisizione di Fabbrica Apparecchiature Termoelettriche Industriali S.r.L. (F.A.T.I.), un produttore con sede a Milano di riscaldatori elettrici per applicazioni industriali. F.A.T.I. è un progettista e produttore leader di riscaldatori elettrici e sistemi di riscaldamento per vari mercati industriali finali, tra cui petrolio e gas, farmaceutico, energie rinnovabili, nucleare e HVAC.
L'acquisizione è destinata a ampliare la presenza geografica di Thermon e rafforzare la sua piattaforma per servire meglio il crescente mercato globale delle soluzioni di elettrificazione e decarbonizzazione. Il stabilimento di produzione di F.A.T.I. a Milano e il suo ampio elenco di certificazioni europee sono considerati asset strategici per l'espansione di Thermon in Europa e Asia.
F.A.T.I. ha registrato ricavi superiori a 12 milioni di euro nell'anno solare conclusosi il 31 dicembre 2023. Il prezzo di acquisto di 12,5 milioni di euro, soggetto a rettifiche consuete, è stato finanziato con liquidità disponibile.
Thermon Group Holdings, Inc. (NYSE:THR) ha anunciado la adquisición de Fabbrica Apparecchiature Termoelettriche Industriali S.r.L. (F.A.T.I.), un fabricante con sede en Milán de calentadores eléctricos para aplicaciones industriales. F.A.T.I. es un diseñador y fabricante líder de calentadores eléctricos y sistemas de calefacción para varios mercados industriales finales, incluyendo petróleo y gas, farmacéutico, energías renovables, nuclear y HVAC.
Se espera que la adquisición amplíe la huella geográfica de Thermon y refuerce su plataforma para servir mejor al creciente mercado global de soluciones de electrificación y descarbonización. La instalación de fabricación de F.A.T.I. en Milán y su extensa lista de certificaciones europeas son vistos como activos estratégicos para la expansión de Thermon en Europa y Asia.
F.A.T.I. reportó ingresos de más de 12 millones de euros en el año calendario que terminó el 31 de diciembre de 2023. El precio de compra de 12,5 millones de euros, sujeto a ajustes habituales, fue financiado con efectivo disponible.
Thermon Group Holdings, Inc. (NYSE:THR)는 밀라노에 본사를 둔 산업 전기 히터 제조업체인 Fabbrica Apparecchiature Termoelettriche Industriali S.r.L. (F.A.T.I.)를 인수했다고 발표했습니다. F.A.T.I.는 여러 산업 최종 시장을 위한 전기 히터 및 난방 시스템의 선도적인 설계자이자 제조업체로, 석유 및 가스, 제약, 재생 가능 에너지, 원자력 및 HVAC 분야에서 활동하고 있습니다.
이번 인수는 Thermon의 지리적 입지를 확장하고 전 세계 전력화 및 탈탄소화 솔루션에 대한 증가하는 수요를 더 잘 충족하기 위한 플랫폼을 강화할 것으로 예상됩니다. 밀라노에 위치한 F.A.T.I.의 제조 시설과 광범위한 유럽 인증 목록은 Thermon의 유럽 및 아시아에서의 확장에서 전략적 자산으로 간주됩니다.
F.A.T.I.는 2023년 12월 31일로 종료된 회계연도에 1200만 유로 이상의 수익을 보고했습니다. 1250만 유로의 구매 가격은 관례적인 조정의 대상이며, 현금으로 지불되었습니다.
Thermon Group Holdings, Inc. (NYSE:THR) a annoncé l'acquisition de Fabbrica Apparecchiature Termoelettriche Industriali S.r.L. (F.A.T.I.), un fabricant basé à Milan de chauffages électriques pour applications industrielles. F.A.T.I. est un concepteur et fabricant leader de chauffages et systèmes de chauffage électriques pour divers marchés industriels finaux, y compris pétrole et gaz, pharmaceutique, énergies renouvelables, nucléaire et CVC.
On s'attend à ce que l'acquisition élargisse l'empreinte géographique de Thermon et renforce sa plateforme pour mieux répondre au marché mondial croissant des solutions d'électrification et de décarbonisation. L'usine de fabrication de F.A.T.I. à Milan et sa vaste liste de certifications européennes sont considérées comme des atouts stratégiques pour l'expansion de Thermon en Europe et en Asie.
F.A.T.I. a enregistré des revenus de plus de 12 millions d'euros pour l'exercice se terminant le 31 décembre 2023. Le prix d'achat de 12,5 millions d'euros, sous réserve d'ajustements habituels, a été financé par des liquidités disponibles.
Thermon Group Holdings, Inc. (NYSE:THR) hat die Übernahme von Fabbrica Apparecchiature Termoelettriche Industriali S.r.L. (F.A.T.I.), einem in Mailand ansässigen Hersteller von elektrischen Heizungen für industrielle Anwendungen, bekannt gegeben. F.A.T.I. ist ein führender Designer und Hersteller von elektrischen Heizungen und Heizsystemen für verschiedene industrielle Endmärkte, einschließlich Öl & Gas, Pharmazeutika, erneuerbare Energien, Kernenergie und HVAC.
Die Übernahme wird voraussichtlich die geographische Präsenz von Thermon erweitern und die Plattform stärken, um den wachsenden globalen Markt für Elektrifizierungs- und Dekarbonisierungslösungen besser bedienen zu können. Das Produktionswerk von F.A.T.I. in Mailand und die umfangreiche Liste von europäischen Zertifizierungen werden als strategische Vermögenswerte für Thermons Expansion in Europa und Asien angesehen.
F.A.T.I. berichtete im Kalenderjahr, das am 31. Dezember 2023 endete, von einem Umsatz von über 12 Millionen Euro. Der Kaufpreis von 12,5 Millionen Euro, vorbehaltlich üblicher Anpassungen, wurde aus vorhandenen Zahlungsmitteln finanziert.
- Acquisition expands Thermon's product portfolio and geographic footprint
- Strengthens Thermon's position in the electrification and decarbonization solutions market
- Gains access to F.A.T.I.'s manufacturing facility in Milan, Italy
- Acquires extensive list of European certifications and customer approvals
- F.A.T.I. reported revenue of over 12 million euro in 2023
- Cash outlay of 12.5 million euro for the acquisition
Insights
The acquisition of F.A.T.I. by Thermon Group Holdings is a strategic move that expands Thermon's electric heater portfolio and strengthens its global presence. Key points to consider:
- F.A.T.I.'s revenue of over
12 million euros in 2023 represents a significant addition to Thermon's business, given its market cap of986 million . - The purchase price of
12.5 million euros suggests a valuation close to 1x revenue, which appears reasonable for an industrial manufacturing acquisition. - This acquisition aligns with Thermon's strategy of growth through decarbonization, diversification and digitization initiatives.
- The deal provides Thermon with a manufacturing facility in Milan, Italy, enhancing its European presence and potentially reducing costs through localized production.
- F.A.T.I.'s extensive European certifications and customer approvals could accelerate Thermon's market penetration in Europe and Asia.
While the immediate financial impact may be modest, the long-term strategic benefits could be substantial, potentially driving growth in Thermon's electrification and decarbonization solutions business. Investors should monitor integration progress and synergy realization in the coming quarters.
This acquisition positions Thermon strategically in the growing industrial electric heating market:
- The global push towards electrification and decarbonization aligns perfectly with F.A.T.I.'s product portfolio, potentially opening new revenue streams for Thermon.
- F.A.T.I.'s presence in over 30 countries provides Thermon with an expanded global footprint, particularly in Europe and Asia where growth opportunities are significant.
- The acquisition diversifies Thermon's end markets, now including pharmaceuticals, renewables and HVAC, reducing reliance on oil & gas sector volatility.
- F.A.T.I.'s 80-year history and strong brand recognition in the electrical heating industry could enhance Thermon's market credibility and customer trust.
Investors should watch for potential cross-selling opportunities and how Thermon leverages F.A.T.I.'s technology to innovate in the electrification space. The deal's success will likely be measured by revenue growth acceleration and market share gains in key regions over the next 12-24 months.
AUSTIN, TX / ACCESSWIRE / October 3, 2024 / Thermon Group Holdings, Inc. (NYSE:THR) ("Thermon" or the "Company"), a global leader in industrial process heating solutions, today announced the acquisition of Fabbrica Apparecchiature Termoelettriche Industriali S.r.L. ("F.A.T.I."), a manufacturer of electric heaters for industrial applications, based in Milan, Italy.
F.A.T.I. is a leading designer and manufacturer of electrical heaters and heating systems for a broad range of industrial end markets, including oil & gas, pharmaceutical, renewables, nuclear and HVAC. Since its founding nearly 80 years ago, F.A.T.I. has built a high-quality portfolio of technologically advanced and reliable solutions for the industrial electric heating market that are available in over 30 countries around the globe.
"We are excited to welcome F.A.T.I. to the Thermon family, a company with strong brand recognition in the electrical heating industry that shares our passion for providing safe, reliable, and innovative solutions to diversified markets," commented Bruce Thames, President and CEO of Thermon. "This acquisition is highly complementary to our product portfolio and broadens our geographic footprint, further strengthening our platform and enabling us to better serve the growing global market for electrification and decarbonization solutions. The addition of F.A.T.I.'s manufacturing facility in Milan, Italy strategically expands our global manufacturing footprint, and their extensive list of European certifications and customer approvals accelerate our ability to penetrate growing markets in Europe and Asia. We look forward to partnering with the tremendous team at F.A.T.I. and utilizing our Thermon Business System to scale our business and further advance our strategy to profitably grow through decarbonization, diversification, and digitization initiatives."
This partnership marks a significant milestone for F.A.T.I., as it allows us to leverage Thermon's extensive resources and global reach to further enhance our product offerings and better serve our customers worldwide," said Enrico Terruzzi, General Manager of F.A.T.I. "Thermon shares our values and commitment to innovation and excellence, and we are confident that this combination will enhance our ability to drive growth and deliver exceptional value to our clients."
F.A.T.I. realized revenue of over 12 million euro in the calendar year ended December 31, 2023. The purchase price of 12.5 million euro, subject to customary adjustments, was funded with cash on hand.
About Thermon
Through its global network, Thermon provides safe, reliable and mission critical industrial process heating solutions. Thermon specializes in providing complete flow assurance, process heating, temperature maintenance, freeze protection and environmental monitoring solutions. Thermon is headquartered in Austin, Texas. For more information, please visit www.thermon.com.
CONTACT:
Ivonne Salem, Vice President, FP&A and Investor Relations
(512) 690-0600
Investor.Relations@thermon.com
SOURCE: Thermon Group Holdings, Inc.
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