Therma Holdings LLC, a portfolio company of Gemspring Capital, said Sept. 4 that it acquired VarcoMac LLC. Financial terms weren’t announced. VarcoMac provides electrical systems and solutions serving the commercial, institutional and government markets.
Therma Acquires VarcoMac
Expands Service Offering and Geographic Presence
SAN JOSE, Calif.—September 4, 2019 –Therma Holdings LLC (“Therma”), a portfolio company of Gemspring Capital, today announced that it has acquired VarcoMac LLC (“VarcoMac”), a Baltimore-Washington Metro Area-based provider of electrical systems and solutions serving the commercial, institutional and government markets.
VarcoMac is a leader in the data center, healthcare and high technology industries. Services range from the design-assist delivery of electrical systems, to comprehensive ongoing and preventative maintenance arrangements throughout the lifecycle of buildings.
“VarcoMac’s strong base of service and maintenance – with a focus on complex systems in mission-critical environments – expands our service offerings, customer and geographic reach. VarcoMac’s high-quality workforce and experienced management team share our culture, values and commitment to delivering superior service and value to our customers,” said Therma CEO Jeff Sprau.
Shane Wilemon, President of VarcoMac said, “We look forward to joining the Therma family and building upon the work we’ve done over the past 37 years to serve our customers, propel our growth and provide new opportunities for our employees.”
VarcoMac will continue to be led by Shane Wilemon and will operate as VarcoMac LLC, a subsidiary of Therma Holdings LLC.
About VarcoMac LLC
VarcoMac LLC, founded in 1982, is a full-service electrical services provider of general power and lighting, security, fire alarm, UPS, standalone power generation, and voice/data/telecom solutions serving the commercial, institutional and government markets. These core systems are vital for data centers, hospitals, biotech labs and other mission critical facilities. For more information, please visit www.varcomac.com.
About Therma Holdings LLC
Therma Holdings LLC is a leading mechanical and electrical services company focused on designing, building, and servicing complex systems primarily in mission critical facilities. Therma has in-house engineering, design, fabrication, process piping, controls, pre-fabrication and installation capabilities. Therma works for owners, general contractors and construction managers in the technology, biopharmaceutical, data center, semiconductor and other industries with complex requirements. For more information, please visit www.therma.com.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $355 million of equity capital under management, focuses on making control and structured equity investments in lower middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and takes a hands-on approach to driving revenue growth and value creation. For more information, please visit www.gemspring.com.