Thermon acquires Vapor Power ($50M+ revenue); $100M term loan funds deal; expects EPS accretion

Thermon Group Holdings, Inc.

Acquired Vapor Power, a provider of electric and gas fired boilers, for an undisclosed sum; financed via $100M incremental term loan and cash on hand.
Vapor Power revenue over $50M in CY2023; transaction expected to be accretive to GAAP EPS in first twelve months.
Acquisition expands Thermon's product portfolio into electric resistance and electrode boilers; targets decarbonization and electrification growth.
Credit agreement amended to add $100M incremental term loan (matures Sept 2026, pricing +0.375%) used to finance the acquisition and refinance target debt.

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