Thermon Acquires Italy-Based Fabbrica Apparecchiature Termoelettriche Industriali (F.A.T.I.), A Manufacturer Of Electric Heaters For Industrial Applications; Purchase Price Of 12.5M Euro
Portfolio Pulse from Benzinga Newsdesk
Thermon Group Holdings, Inc. has acquired Italy-based F.A.T.I., a manufacturer of electric heaters for industrial applications, for 12.5 million euros. The acquisition was funded with cash on hand.
October 03, 2024 | 11:10 am
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Thermon Group Holdings, Inc. has acquired F.A.T.I., an Italian manufacturer of electric heaters, for 12.5 million euros. This acquisition could strengthen Thermon's product offerings in the industrial sector.
The acquisition of F.A.T.I. by Thermon Group Holdings is a strategic move to enhance its product offerings in the industrial sector. The purchase was made with cash on hand, indicating financial stability. The acquisition price is slightly above F.A.T.I.'s annual revenue, suggesting a fair valuation. This move is likely to positively impact Thermon's stock price in the short term as it expands its market presence.
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