Resilience Capital Partners acquires Thermal Product Solutions from SPX Corp


thermal solutionPrivate equity firm Resilience Capital Partners has bought SPX Corporation’s unit Thermal Product Solutions, which makes environmental test chambers, industrial ovens and furnaces.

The company’s product brands include Tenney, Blue M, Gruenberg, Lindberg, and MPH. It operates facilities in White Deer, Pennsylvania, Riverside, Michigan, and Malaysia.

Resilience Co-CEO Steve Rosen said, “We are pleased to have been selected by SPX for this divestiture. This is Resilience’s tenth corporate carve out often working with a very large corporation on an extremely complex corporate divestiture.

“Resilience and SPX closed this transaction in 44 business days. These are tough deals to get done and Resilience was able to quickly deliver certainty and value. I compliment TPS management and the SPX corporate deal team.”

In January Resilience bought the direct sale business of G&K Services in the seventh deal from its third fund.

Resilience manages in excess of $320mn for its global investor base which includes pension funds, insurance companies, foundations and endowments, fund of funds, wealth managers, and investment consultants.

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