Indianapolis, IN – ProAct Services Corporation (“ProAct”), a portfolio company of Hammond, Kennedy, Whitney & Company, Inc. (“HKW”) announced that it closed on the acquisition of Thermtech, Inc. (“Thermtech”) on August 28, 2017. Thermtech is the fourth add-on transaction that the ProAct team has completed over the last three years. This acquisition further strengthens ProAct’s position in the North American degassing market.
Frank Smiddy, CEO of ProAct, stated, “The acquisition of Thermtech greatly improves our capabilities in manufacturing thermal oxidizers. We continue to expand our presence in the degassing market and Thermtech will help drive our continued growth.”
Mike Foisy, HKW’s Lead Operations Partner and Chairman of ProAct’s Board of Directors, added, “The combination of Thermtech with the existing ProAct platform creates additional momentum within the degassing space. This is our second add-on this year in the sector and we look forward to continued growth in our tank degassing business.”
About ProAct – ProAct, headquartered in Ludington, MI, is an environmental treatment solutions provider focused on removing contaminants from water, air, and soil for clients across the United States and abroad. For additional information on ProAct, please visit http://www.proact-usa.com/.
About HKW – HKW is a private equity firm founded in 1903 with offices in Indianapolis and New York. Since 1982, HKW has sponsored 53 platform transactions of lower middle-market companies throughout North America, as well as 61 add-on acquisitions. For further information on HKW, please visit www.hkwinc.com.