Evergreen Pacific Partners announced today that it has acquired Thermal Dynamics, a supplier of heat exchangers for the automotive, truck, motorcycles, and military equipment industries. The Thermal Dynamics’ senior management team will remain in place and work with Evergreen to expand market share and continue the development of new products.
“We’re proud to back such a strong and well managed company in order to extend its industry leadership position,” said T.J. McGill, co-founder and managing partner at Evergreen Pacific Partners. “This acquisition closely follows our investment focus and process of finding and funding companies in traditional industries we can position for future growth.”
Thermal Dynamics is a supplier of heat exchangers for the automotive, truck, motorcycles, and military equipment industries. The company’s specializes in transmission, power steering, hydraulic fluid, and engine oil coolers. Thermal Dynamics was founded in 1957 and is based in Ontario, CA (www.thermaldynamics.com).
“Through the support of Evergreen’s financial resources and operating backgrounds, as well as their impressive track record of success, we are laying the foundation for our continued success and expansion,” said Jamin Patrick, President of Thermal Dynamics. “Working with the team at Evergreen, we’re excited to continue pushing technical innovation across the automotive industry and further develop successful and rewarding long-term relationships with our customers.”
Evergreen Pacific Partners invests in traditional buyouts, management led buyouts, and growth equity investments in middle-market companies located in the western US and Canada. Sectors of interest include manufacturing; distribution; specialty packaging; consumer products; and cable television and radio. The firm has two private equity funds under management with capital totaling $700 million. Evergreen Pacific Partners is headquartered in Seattle, WA (www.eppcapital.com).