Thermon Group Holdings, Inc. Completes Secondary Offering of Common Stock
Thermon Group Holdings, Inc. (NYSE: THR), a portfolio company of Chicago-based CHS Capital™, completed an underwritten public offering of 10,000,000 shares of common stock offered by certain of its existing stockholders. An affiliate of CHS Capital sold approximately 7 million shares at $22.00 per share yielding net proceeds of $146.4 million and still retains an 8% ownership stake in the company.
“With Thermon’s impressive performance in 2012 and strong outlook for the global energy market, this was the ideal time to complete a secondary offering,” said Dan Hennessy, Partner at CHS Capital. “We have developed a solid partnership with CEO Rodney Bingham and the management team at Thermon. We are very pleased with the growth initiatives we have implemented and the value CHS has added during our ownership period.”
Headquartered in San Marcos, Texas, Thermon provides highly engineered thermal solutions, known as heat tracing, for process industries, including energy, chemical processing and power generation. Thermon's products provide an external heat source to pipes, vessels and instruments for the purposes of freeze protection, temperature maintenance, environmental monitoring and surface snow and ice melting. For additional information, please visit
CHS Capital is a Chicago-based private equity firm with 24 years of experience investing in the middle market. Through partnerships with strong management teams, CHS Capital accelerates earnings growth and drives value creation through human capital enhancements, performance improvement actions and strategic growth initiatives. Throughout its history, CHS Capital has made investments in over 380 businesses and invested $2.9 billion of capital. For additional information, please visit