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Audax Private Equity Acquires Canada-Based Thermogenics.

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MANews-(C)2009-2022

Boston alternative investment manager Audax Private Equity has acquired Canada-based Thermogenics, Inc., a provider of boiler service and maintenance, equipment sales and rentals, from Ironbridge Equity Partners and certain other minority investors, the company said.

Financial terms of the transaction were not disclosed.

Thermogenics represents the first investment by Audax' Origins Fund I.

Thermogenics specialises in providing complete boiler lifecycle solutions to a diverse set of commercial and industrial customers and end markets.

To complement its service-driven business model, the company designs and manufacturers differentiated, energy efficient boilers with proprietary coil-tube technology, and provides best-in-class parts and maintenance services through its technicians.

Solomon Partners served as financial advisor to Audax and KeyBanc Capital Markets served as financial advisor to...

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