Quarton Partners advises Audax Group in its sale of Thermon to Code Hennessy & Simmons.


Thermon Holdings, Inc., a portfolio company of Audax Group, was acquired by Code Hennessy & Simmons LLC. Quarton Partners acted as financial advisor to Thermon and Audax Group in managing the sale process.


Thermon Holdings, Inc., based in San Marcos, Texas, is a leading global manufacturer of heat tracing equipment. Thermon’s products are dedicated to the external heating of piping, vessels and instruments for the purposes of freeze protection, process temperature maintenance, environmental monitoring and surface snow and ice melting. Thermon offers a full suite of electric and steam heat tracing equipment for the petrochemical, oil and gas, engineering, and power industries.

Buyer / Investor

CHS Capital is a Chicago-based private equity firm with over 25 years of experience investing in the middle market. Through partnerships with strong management teams, CHS Capital aims to accelerate earnings growth and drive value creation through human capital initiatives, performance improvement actions and strategic growth activities. Throughout its history, CHS Capital has made investments in over 400 businesses and invested $2.9 billion of capital.



Robert S. Parker


Gregory S. McGowan

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