Thermon Group Files for $143.8M IPO

Thermon Group Holdings Inc., which is backed by private equity firm CHS Capital LLC, plans to raise up to $143.8 million in an initial public offering, Reuters reported. CHS Capital owns a 50% stake in San Marcos, Texas-based Thermon, which develops of thermal products for industrial customers, Reuters said.

(Reuters) – Thermon Group Holdings Inc, a provider of thermal solutions for industries, filed with U.S. regulators on Wednesday to raise up to $143.8 million in an initial public offering.

The company, in which private equity firm CHS Capital LLC owns a 50 percent stake, said it intends to use proceeds from the offering to repay debt and for general corporate purposes.

The company, however, did not reveal the number of shares it plans to sell.

Thermon said the offering would include common shares sold by it as well as selling stockholders, with the proposed size of the IPO being estimated solely for the purpose of calculating the Securities and Exchange Commission (SEC) registration fee.

The San Marcos, Texas-based company told the SEC in a preliminary prospectus that Barclays Capital and Jefferies are underwriting the IPO.

The company plans to list its stock on the New York Stock Exchange under the symbol “THR.” (Reporting by Tenzin Dekeva in Bangalore; Editing by Maju Samuel)