Heritage Capital Group, Inc. (“HCG”) is pleased to announce that its client, Yown’s Boiler and Furnace Service, Inc. located in Jacksonville, FL, has been acquired by Thermogenics, Inc. of Aurora, ON, an Ironbridge Equity Partners portfolio company.
Yown’s is a full-service boiler and industrial process burner company providing sales, service, installation, and repairs of boilers, pressure vessels, piping systems, and industrial combustion applications. The Company is also a licensed contractor in both natural and propane gas applications.
Thermogenics is a leading North American manufacturer of coiled tube steam, hot water, and thermal fluid boilers, and related equipment. Its product portfolio is primarily used within industrial, commercial, and institutional applications, serving a variety of end markets, including healthcare and hospitals, food and beverage, and pharmaceutical.
“By joining forces with Thermogenics, we complement our existing product offering, expand the solution set we bring to customers in the region, and take Yown’s to the next level,” explains Mr. Yown.
HCG served as the exclusive financial advisor to Yown’s. The HCG team included Dan Edelman, Alex Kellison, and Howard Serkin.
“Dan Edelman and the HCG team were able to maximize and justify our business valuation,” added Mr. Yown. “The valuation justification added credence to our company’s worth.”
Mr. Yown emphasized HCG was the right partner to make this deal happen. “We valued Dan Edelman’s trust and knowledge throughout the sale process.”