Patriot Capital Group is pleased to announce a new senior debt and equity investment in Thermal Process Holdings, Inc. (TPH). Patriot’s investment supported TPH’s acquisition of Hudapack Metal Treating, Inc., which owns and operates heat treat facilities in Elkhorn and Franklin, Wisconsin, and P & L Heat Treating, a heat treater based in Youngstown, Ohio.
Thermal Process Holdings was formed by Calvert Street Capital Partners and John Hubbard (former CEO of Bodycote, PLC) to pursue a buy-and-build strategy in the thermal processing industry. TPH also owns and operates Diamond Heat Treat, based in Rockford, Illinois, and Certified Heat Treating, based in Springfield, Ohio. TPH is actively seeking other add-on acquisition opportunities.