MergerJun 1, 2026, 09:31 AM
Thermon Group Holdings Acquired by CECO Environmental
AI Summary
Thermon Group Holdings, Inc. announced the completion of its merger with CECO Environmental Corp. on June 1, 2026, following stockholder approvals. As part of the transaction, CECO issued approximately 22.53 million shares of its common stock and paid about $329.4 million in cash to former Thermon shareholders. Thermon's outstanding obligations under its Credit Agreement were fully satisfied and the agreement terminated. The combined company will operate as CECO Environmental, with two former Thermon directors joining the CECO Board.
Key Highlights
- Thermon Group Holdings, Inc. was acquired by CECO Environmental Corp. on June 1, 2026.
- CECO issued approximately 22.53 million shares of CECO Common Stock to former Thermon shareholders.
- CECO paid aggregate cash consideration of approximately $329.4 million.
- Total Thermon Common Stock outstanding prior to merger was approximately 32.94 million shares.
- Thermon shareholders received Mixed, Cash, or Stock Consideration, subject to proration.
- Thermon's Credit Agreement was terminated upon completion of the merger.
- Two former Thermon directors, Victor Richey and Marcus George, joined the CECO Board.
- CECO will host an investor call on June 9th to discuss the combination and integration.