New York, NY (GLOBE NEWSWIRE) - The Producto Group (“Producto”), a portfolio company of Culper Capital Partners (“Culper”), today announced the acquisition of ThermoFab (www.thermofab.com), a leader in the design, development, and manufacturing of heavy-gauge plastic enclosures for the medical, diversified industrial, and high-tech industries.
Founded in Massachusetts in 1976, ThermoFab operates out of two facilities totaling over 40,000 square feet. For more than 45 years, ThermoFab has leveraged a proprietary, blended process that brings customers most complex designs to life, with a focus on tooling detail that is unequaled anywhere in the market.
Today, ThermoFab enclosures are utilized in thousands of applications ranging from surgical robotics to industrial automation, and test & measurement equipment – across the globe.
"ThermoFab has a long-standing history of being a trusted partner in the enclosures industry and we are very excited to have them join the Producto family,” said Adam Cook, Managing Partner, and Chief Investment Officer of Culper. “This acquisition furthers Producto’s ability to be a full-service solutions provider, creating synergistic value for its customer base. Our enclosure customers can benefit from having a world class machining and tooling provider under the same umbrella," Cook, who serves as Non-Executive Chairman of Producto, adds.
"We are excited for ThermoFab to find its new home within The Producto Group, and feel Adam and team have the desired expertise to be great stewards of the business I spent my life building” said founder Thomas King, Jr.
“ThermoFab is the supplier of choice for complex, heavy-gauge plastic enclosures, complimenting the existing offerings of Producto in an exceptional way. I am excited for the opportunity to offer our customers a more expansive suite of services as I continue with the company in a business development capacity,” said Michael Wahl, Co-Founder and Principal of ThermoFab.
Hirschler Law served as legal advisor to Culper Capital Partners. Capital Southwest Corporation and CIBC provided financing to the buyer as part of this transaction. The Vann Group and Bacon Wilson represented ThermoFab.
About The Producto Group
The Producto Group, through Ring Precision and New Vision, serves as a solution driven, contract manufacturer and provider of precision tooling and components for a wide variety of industries, including the medical, semiconductor, aerospace, and defense markets. Producto’s cutting edge manufacturing and quality control equipment uniquely positions the Company to provide solutions for its customers most demanding applications. The Company’s distribution arm, Dieco, provides custom springs, die springs, accessories, die sets and other components.
About Culper Capital Partners
Culper Capital Partners is a private investment firm that invests both debt and equity in middle market companies that seek true partnership solutions. Culper isn’t interested in just putting money to work. Culper seeks to revolutionize the meaning of private equity by working with our trusted portfolio companies to drive value for their customers, employees, the community, and shareholders alike.
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