New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 8, 2012
08:11 EDTTHRThermon Group reports Q2 EPS 26c, consensus 27c
Reports Q2 revenue $67.4M, approximately flat from Q3 of 2011. Consensus $76.79M
News For THR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 7, 2015
16:25 EDTTHRThermon Group announces acquisition of Sumac
Thermon Group Holdings announced that its indirect subsidiary, Thermon Canada acquired a controlling interest in Thermon Power Solutions, a newly created entity, effective April 1. Also effective April 1, TPSI acquired the business previously conducted by Sumac Fabrication. Sumac is a designer and fabricator of temporary power distribution equipment that is used in hazardous-location and general purpose areas within industrial facilities. For its fiscal year ended September 30, 2014, Sumac generated revenue of approximately $17.6M Canadian dollars (approximately $14.1 million US dollars at the current exchange rate). Sumac's management team will continue to operate the business following the closing of the Transactions. The cash consideration paid by TCI for a 75% equity interest in TPSI was $14.25M Canadian dollars (approximately $11.4 million US dollars at the current exchange rate) in cash at closing, subject to customary working capital adjustments, and a potential contingent cash payment of up to $7.5M Canadian dollars (approximately $6M US dollars at the current exchange rate) based on the EBITDA performance of the business for the 12-month period following the closing of the Transactions, subject to certain Transaction related adjustments.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use