CECO to Combine with Thermon in $2.2B Deal

CECO Environmental Corp. and Thermon Group Holdings have entered into a definitive agreement to combine in a stock-and-cash transaction valued at approximately $2.2 billion. The combined company will continue under the CECO Environmental name.

The deal is designed to extend CECO’s engineered environmental and thermal solutions platform by adding Thermon’s industrial process heating, heat tracing, and temperature management capabilities. The companies position the combined portfolio around durable secular trends including energy transition, power generation, industrial reshoring, infrastructure development, decarbonization, and tightening environmental regulations. The excerpt indicates the transaction will be funded with stock and cash.