Hamon & Cie International has sold Thermal Transfer Corporation to Wabtec Corporation
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Hamon & Cie International (“Hamon”) has sold Thermal Transfer Corporation (“TTC” or the “Company”) to Wabtec Corporation (“Wabtec”). Terms of the transaction were not disclosed.
TTC, headquartered in Duquesne, Pennsylvania, specializes in the design and manufacture of heat exchangers, electrostatic precipitator components and related fabrication and repair services for a variety of industrial markets. Supported by deep engineering and application expertise, TTC focuses on providing innovative and durable solutions in industrial applications where high temperatures and corrosive elements are present.
Bill Dillon, CEO of Hamon USA, commented, “Lincoln ran an exceptionally tailored process generating strong interest in the business from both domestic and international strategic acquirers. Their deep heat exchanger expertise, coupled with dedication and a hands-on approach, enabled us to find the right partner for TTC and achieve a successful outcome for all parties.”
Lincoln acted as the exclusive investment banking representative for Hamon and TTC, working closely with the Company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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