Thermal Technology Distribution Solutions (TTDS), a distribution platform owned by Gryphon Investors, acquired Proheat, a La Grange, KY-based distributor of heaters, sensors, controls, and comprehensive technical support to manufacturers. Terms of the transaction were not disclosed.

“They are an important addition to our growing team of leading distributors of thermal management solutions,” said Jeff Collier, CEO of TTDS, a platform for the distribution of industrial temperature management and related products. “Proheat enhances our ability to be a value-added partner to suppliers, while increasing the breadth of products and services for our customers.”

Proheat’s management team, including President and CEO Steven Button, will remain with the company and maintain a significant equity stake.

“We are honored to be a core early member of the TTDS platform as it rapidly scales. We appreciate the financial and operational support from TTDS and Gryphon Investors and look forward to a productive partnership that upholds the quality and service our suppliers and customers have come to expect,” Button said in a Jan. 22 news release.

This is the second investment for TTDS, established in September 2023 by middle-market private equity firm Gryphon Investors through Gryphon’s Heritage Fund, the firm’s small-cap fund strategy. TTDS’s initial investment was Big Chief, a distributor of electric process heating and temperature control products for the industrial market.