Thermon Group Holdings, Inc. provides engineered industrial process heating solutions—products, services, and software—for large, complex industrial applications worldwide.

# Thermon Group Holdings, Inc.

## Overview
Thermon Group Holdings, Inc. is a leading provider of engineered industrial process heating solutions for process industries. The company delivers complete project solutions through products, services, and software for large, complex applications.

## Products
- Heating units
- Electrode and gas-fired boilers
- Heating cables
- Industrial heating blankets and related products
- Temporary power solutions
- Tubing bundles

## Services and software
- Engineering, installation, and maintenance services
- Design optimization and wireless/network control systems

## Markets served
General industrial, chemical and petrochemical, oil and gas, power generation, commercial, food and beverage, rail and transit, and other end markets.

## Global footprint
- Sales and service professionals and distributors in more than 30 countries
- 11 manufacturing facilities on two continents
- Known for technology leadership in hazardous or classified areas and a focus on sustainable solutions

## Customers
Serves thousands of customers worldwide.

## Corporate information
- Corporate offices: 7171 Southwest Parkway, Building 300, Suite 200, Austin, Texas 78735  
- Telephone: (512) 690-0600  
- Website: www.thermon.com  
- Investor materials such as board committee charters, code of conduct, and governance guidelines are available on the Investor Relations site

## Pending merger with CECO Environmental Corp. (as of Feb 23, 2026)
- A definitive merger agreement was announced to combine Thermon with CECO Environmental Corp. in a stock-and-cash two-step merger.  
- Transaction value: approximately **$2.2 billion**.  
- Strategic rationale: Create a global industrial leader in environmental and thermal solutions by combining CECO’s environmental systems capabilities with Thermon’s industrial process heating, heat tracing, and temperature management expertise.  
- Structure and timing: The combined company will operate under the CECO Environmental Corp. name; the transaction is expected to close in June 2026.  
- The companies anticipate transaction-related costs and the merger is subject to customary closing conditions and regulatory and stockholder approvals.

## History
More than 70 years of operation and service in the industry.

Thermon Group Holdings, Inc. provides engineered industrial process heating solutions globally, serving diverse sectors for over 70 years.

# Company Overview: Thermon Group Holdings, Inc.

## Business Description
Thermon specializes in providing highly engineered industrial process heating solutions primarily for process industries worldwide. It has served customers for over 70 years and operates in markets including:

- General industrial
- Chemical and petrochemical
- Oil and gas
- Power generation
- Commercial facilities
- Food and beverage
- Rail and transit
- Other industrial sectors

## Products and Services
- **Products:**
  - Electric heat tracing cables
  - Electrode and gas-fired boilers
  - Heating blankets
  - Tubing bundles
  - Industrial heating units and appliances
  - Temporary power systems and electrical lighting
  - Filtration solutions

- **Services:**
  - Engineering and design
  - Installation
  - Maintenance and upgrades
  - Turnkey project execution

- **Software and Control Systems:**
  - Wireless, networked control and monitoring solutions
  - Internet of Things (IoT) embedded systems for heat trace management
  - Automation and design optimization software (brand: Genesis, TraceNet)

## Capabilities
- Global network of sales, service professionals, and distributors in over 30 countries.
- 11 manufacturing facilities on two continents.
- Ability to serve large, complex projects, including hazardous or classified environments.

## Market Position and Strategy
- Second-largest player in the global industrial electric heat tracing industry.
- Differentiates through comprehensive product and service offerings, a global footprint, and industry-leading controls technology.
- Focuses on diversification, including expanding in non-oil-and-gas markets (over 70% of revenue from such markets as of fiscal 2025).

## Customer Base
- Serves thousands of large multinational customers.
- No single customer accounted for more than 10% of total revenue in fiscal 2023, 2024, or 2025.
- Long-standing relationships with major oil, gas, chemical, power, and EPC (engineering, procurement, and construction) companies.

## Financial Highlights (Fiscal Year Ended March 31, 2025)
- **Revenue:** \$498.2 million
- **Net Income:** \$53.5 million
- **Employees:** 1,568 employees worldwide
  - Regional breakdown:
    - US-LAM: 43.9%
    - Canada: 32.8%
    - EMEA: 11.2%
    - APAC: 12.1%
- **Market Capitalization:** As of May 21, 2025, approximately \$986.4 million based on stock price of \$29.84.
- **Stock:** Listed on NYSE under the symbol "THR."
- **Outstanding Shares:** 33,088,725 shares as of May 21, 2025.

## Business Focus
- Covering both engineered solutions and standardized products for temperature maintenance, freeze protection, environmental control, and process regulation across multiple industries.
- Sustainability and technological innovation are central to product development.
- Provides tailored turnkey projects, including engineering, procurement, construction, and ongoing maintenance.

This summary reflects the company's core operations, market sectors, customer relationships, and recent financial performance based solely on provided disclosures.

Thermon Group Holdings, Inc. is a leading provider of highly engineered industrial process heating solutions serving a diverse global customer base across multiple industries.

# Thermon Group Holdings, Inc.

Thermon Group Holdings, Inc. provides engineered industrial process heating solutions and has operated for nearly 70 years. The company offers products, services, and software for a wide range of industries.

## Business segments and products

### Key end markets
Thermon serves customers across multiple markets, including:
- General industrial
- Chemical and petrochemical
- Oil and gas
- Power generation
- Commercial
- Food and beverage
- Energy transition / decarbonization
- Rail and transit

### Product offerings
- Heating units: electric heat tracing cables and steam heating solutions  
- Boilers: gas-fired and electric resistance boilers  
- Heating blankets: customized heating products using patented heat spreading technology  
- Controls and monitoring systems: connected devices for heat trace system management  
- Temporary power solutions: portable electrical connection systems and LED lighting  
- Tubing bundles: heated and insulated assemblies for process control and emissions monitoring

### Services
- Engineering and design  
- Turnkey construction and installation  
- Maintenance and project support

## Global footprint

- Employees: 1,416 worldwide as of March 31, 2024
  - 41.4% in the U.S. and Latin America
  - 38.8% in Canada
  - 7.6% in Europe, Middle East, and Africa (EMEA)
  - 12.2% in Asia-Pacific (APAC)
- Customers: diverse base with no single customer accounting for more than 10% of total revenue

## Financials

- Revenue: approximately $480.3 million in fiscal year 2024  
- Operating income: $69.7 million in fiscal year 2024  
- Goodwill and intangible assets: $397.9 million as of March 31, 2024 (52% of total assets)

## Manufacturing and operations

- Manufacturing facilities: 11 facilities on two continents, with major operations in San Marcos, Texas, and locations in Canada and Europe  
- Distribution centers: primarily in San Marcos, Texas; Calgary, Alberta; and Pijnacker, the Netherlands, to support fast fulfillment

## Competitive position

Thermon combines a global presence with a broad product portfolio and long-standing relationships with major companies in the energy and chemical sectors. The company maintains a focus on product development and research, including work in hazardous-area applications.

## Safety and sustainability

- Emphasis on employee safety and reducing workplace incidents  
- Development of sustainable solutions to help customers meet their sustainability goals

Thermon Group Holdings, Inc.

10-K / May 21, 2026

10-K / May 22, 2025

10-K / May 29, 2024

10-K / May 21, 2026

Thermon Group Holdings, Inc.

Overview

Products

Services and software

Markets served

Global footprint

Customers

Corporate information

Pending merger with CECO Environmental Corp. (as of Feb 23, 2026)

History