Thermogenics, Inc.

Overview

Deal Type Mergers & Acquisitions
Client & Transactional Partners Thermogenics, Inc.
Ironbridge Equity Partners
Audax Private Equity
Our Role Exclusive Sell-Side Advisor

Summary

On May 27, 2022, KeyBanc Capital Markets (KBCM) successfully advised Thermogenics, Inc. (Thermogenics or the Company), a portfolio company of Ironbridge Equity Partners (Ironbridge), on its sale to Audax Private Equity. Thermogenics engaged KBCM as its Exclusive Sell-Side Advisor based on its industry-leading Industrial & Business Services Practice and proven M&A execution capabilities.

Headquartered in Aurora, Ontario, Thermogenics is a leading North American provider of commercial and industrial boiler service & maintenance and rentals serving the food processing, manufacturing, healthcare and institutional end markets. The Company’s service-first business model creates deeply embedded customer relationships and drives highly recurring revenue.

Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies.  Target industries include consumer and business products and services, manufacturing, and distribution.  The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses.  Ironbridge’s assets under management are over $700 million, including its fourth private equity fund, Ironbridge Equity Partners IV, LP, a fully committed $383 million fund raised in November 2021.

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco.  Since its founding in 1999, the firm has raised over $30 billion in capital across its Private Equity and Private Debt businesses.  Audax Private Equity has invested over $9 billion in 150 platforms and over 1,050 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund.  Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value.  With more than 300 employees, Audax is a leading capital partner for North American middle market companies.

Recent Deals

June 2022


Series D Funding

led by

Morgan Stanley Expansion Capital

$140 Million

Exclusive Financial Advisor

Mergers & Acquisitions

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June 2022

the parent company of

AEP Transmission Company, LLC

$550 Million

Senior Notes

Joint Bookrunner

Debt Capital Markets

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a portfolio company of

has been acquired by

 

Exclusive Sell-Side Advisor

Mergers & Acquisitions

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May 2022

 

Tiburon Place

$53 Million

4% bond LIHTC and State Housing Equity

Construction

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May 2022

 

$500 Million

Senior Secured Credit Facility

Joint Bookrunner
Joint Lead Arranger

Debt Capital Markets

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May 2022

 

Cheshire Station

 

$17.6 Million

Acquisition

Lender

CMBS

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May 2022

ACG Portfolio-Oakland Glen MHC

ACG Portfolio-Clayton Acres MHC

$59.5 Million

Refinance

Lender

Fannie Mae

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Stonetown - North Pines

Stonetown - Country Meadows

$82 Million

Acquisition

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Fannie Mae

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May 2022

Sawgrass Point

$28.5 Million

Refinance

Lender

Fannie Mae

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Floorplan Inventory Financing and Commercial Real Estate Lending

Lender

Mergers & Acquisitions

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May 2022

a portfolio company of

has acquired

 

$545 Million

Senior Secured Credit Facilities

Administrative Agent
Joint Bookrunner
Left Lead Arranger

Debt Capital Markets

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May 2022

 

$2.55 Billion

Senior Secured Credit Facilities

Co-Documentation Agent
Joint Lead Arranger

Debt Capital Markets

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May 2022

 

$95 Million

Senior Secured Credit Facilities

Administrative Agent
Joint Lead Arranger
Sole Bookrunner

Debt Capital Markets

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April 2022

 

Rego Park II

$11 Million

Refinance

Lender

CMBS

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April 2022

Festus Gardens

$9.7 Million

Acquisition

Lender

FHA

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April 2022

Aspgren Park

$54 Million

Construction Loan

Lender

Construction

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April 2022

a portfolio company of

has acquired

 

$2.77 Billion

Senior Secured Credit Facilities

Joint Bookrunner
Joint Lead Arranger

Debt Capital Markets

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April 2022

 

Canal 1535

$45 Million

Acquisition

Lender

Fannie Mae

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April 2022

Plaza Palmera

$22 Million

Acquisition

Lender

Life Company

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April 2022

 

$2 Billion

Senior Secured Credit Facility

Co-Syndication Agent
Joint Bookrunner
Joint Lead Arranger

Debt Capital Markets

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