Thermal Process Holdings Announces Acquisition of Hudapack
November 28, 2018 – Thermal Process Holdings, Inc. (“TPH”) is pleased to announce its acquisition of Hudapack Metal Treating, Inc. (“Hudapack”), which owns and operates heat treat facilities in Elkhorn and Franklin Wisconsin. Hudapack, co-founded by Gary Huss, Charles Davis, and Earl Pack, represents the third investment in our strategy to build a leading thermal processing company focused on value-added services. Central to this strategy is identifying and bringing together leading businesses that share a focus on safety, quality, service, and advanced technology.
John Hubbard, Chairman of TPH, said: “We are excited to announce the third acquisition in our strategy to build a superior company that offers a range of advanced services. I have known and respected Gary Huss for over 30 years and am appreciative that he has entrusted us with the two businesses he has successfully built. I am also pleased that Greg Huss has agreed to become the General Manager of both Elkhorn and Franklin and look forward to working with him as we seek to grow Hudapack.”
Gary Huss, co-founder and President of Hudapack, remarked: “We began operations in 1985 and have been more successful than I ever imagined. When making the difficult decision to sell the business and retire, an important consideration was finding a buyer who would ensure the continued success of the business and provide opportunities for the Hudapack employees. I am confident that John Hubbard and the TPH team will carry out those objectives. I am also delighted that Greg will become GM of both locations. He has spent his career in the business and this transition provides an exciting leadership opportunity for him.”
ABOUT THERMAL PROCESS HOLDINGS, INC.
Thermal Process Holdings was formed by Calvert Street Capital Partners and John Hubbard (former CEO of Bodycote, PLC) to pursue a buy-and-build strategy in the thermal processing industry. The team has a stated goal to build a diversified, professionally-managed thermal processing business generating over $100 million of revenue. TPH also owns and operates Diamond Heat Treat, based in Rockford, IL and Certified Heat Treating, based in Springfield, OH. TPH is actively seeking other add-on acquisition opportunities.
ABOUT CALVERT STREET
Calvert Street Capital Partners is a Baltimore, Maryland-based private equity firm with a focus on investing in industrial service businesses in the lower middle-market. Since its inception in 1995, Calvert Street has partnered with skilled management teams of privately held businesses to drive profitable growth and organizational transformation. TPH builds upon Calvert Street’s experience in other high-value add industrial sectors, including testing and inspection and precision machining.
For more information, please go to www.cscp.com.