In its fourth deal since launching in 2023 and its second of the month, Thermal Technology Distribution Solutions (TTDS) acquired Thermal Devices to expand its footprint in the mid-Atlantic region and augment its heat trace and engineering capabilities.

TTDS is an industrial temperature management product distribution platform established in September 2023 by middle-market private equity firm Gryphon Investors through Gryphon’s Heritage Fund — the firm’s small-cap fund strategy.

Thermal Devices is a value-added distributor of industrial electric heaters, controls, thermocouples, and related products to manufacturers. Also included in the transaction is Heat Tracing Sales, the company’s heat trace cables, controls, and engineering support business serving mechanical and electrical contractors.

“Thermal Devices provides TTDS with a physical base to better service customers in the East and reinforces TTDS’ position as the nation’s leading provider of thermal management solutions,” TTDA CEO Jeff Collier said in a June 17 news release.

Founded more than 50 years ago by William Strayton, Thermal Devices has been led for three decades by his son Rob Strayton, who will remain with the Mt. Airy, MD-based company and will retain a significant equity stake. Terms of the transaction were not disclosed.

“Completing three add-on acquisitions within months of establishing TTDS validates our position as the clear buyer of choice for thermal management product distributors,” said Jeff Pembroke, Operating Partner of Gryphon’s Heritage Fund. “We continue to pursue organic growth and acquisition opportunities with high-quality distribution partners that align with TTDS’ vision of providing the highest level of support for our customers and suppliers.”