Audax-backed Thermogenics snaps up Plains Mechanical Services

• Based in Aurora, Ontario, Thermogenics is a full-asset lifecycle services provider for commercial and industrial boilers
• Plains will continue to operate and serve customers under the Plains Mechanical Services brand
• Audax Private Equity acquired Thermogenics in 2022 

Thermogenics, a portfolio company of Audax Private Equity, has acquired Plains Mechanical Services, a Sioux City, Iowa-based boiler company providing sales, service installation and repair of boilers, pressure vessels, piping systems and industrial combustion applications.

No financial details of the transaction were disclosed.

Based in Aurora, Ontario, Thermogenics is a full-asset lifecycle services provider for commercial and industrial boilers.

Plains will continue to operate and serve customers under the Plains Mechanical Services brand, Thermogenics said in a statement.

“Our partnership with Plains enables Thermogenics to extend its North American service and boiler solutions reach to better serve our food and beverage, healthcare and manufacturing customers in the US North Central region,” said Ross Garland, CEO of Thermogenics. “Under John Quade’s leadership, we see excellent opportunities for continued growth and enhanced customer service.”

Last year, Thermogenics was acquired by Audax Private Equity from Ironbridge Equity Partners and certain minority investors.

Based in Boston and San Francisco, Audax is a mid-market private equity firm. It has around $15 billion of assets under management.