Board of Directors
Thermacore's Board of Directors is comprised of a strong, balanced blend of skills and experiences, allowing it to offer guidance and direction for the business. The Board of Directors includes both internal management and external members with a diversified background.
Financial Investors
Thermacore's financial investors include both internal management and external public and private equity partners. The internal management team retains a significant investment in the business. Thermacore's external investment partners are experienced in providing growth capital and strategic direction.
Our external partners include:
Advanced Systems International, Inc.
Advanced Systems International, Inc. supports acquisition or investment within industrial technology enterprises and activities related directly or indirectly. ASI’s operating and international experience is a good complement to Private Equity investors, the CEO and management, toward increasing IRRs. ASI brings down to earth and practicality sense to Board discussions and has the ability to get quickly to the heart of the matter, while building consensus. ASI preference is for later stage investments and management buy-outs, primarily in private companies, with revenues between $20-200 million, desiring to grow organically and through acquisitions, domestically and internationally, with the goal of targeting a successful liquidity event.
Argosy Partners
Argosy Partners is a leading source of growth capital for middle market manufacturing and service companies. Argosy offers a consistent track record of partnering with superior management teams to produce exceptional results. Argosy invests in profitable manufacturing and service companies primarily located in the eastern and mid-western United States. Investments range from $2 million to $9 million, in companies with annual revenues in the range of $15 million to $100 million. Argosy also co-invests in larger transactions and has established relationships with various mezzanine and equity groups that can provide up to $20 million for private capital transactions. Founded in 1990, Argosy Partners has over $350 million invested and under management. Argosy industry expertise includes manufacturing and assembly, business services, franchising and licensing and value-added distribution.
NewSpring Capital
NewSpring Capital provides mezzanine financing to support companies with proven track records, strong management and a sustainable competitive advantage. Successful candidates typically have revenues ranging from $10 million to $100 million, positive cash flow and earnings of approximately 10% of sales. Generally, such companies are closely-held private firms some of which may have institutional equity investors, while others will have been initially financed by founders, and/or other individuals. NewSpring Mezzanine typically finances companies in the following industries and sectors: Late-Stage Technology, Health Care Services, Business Services and Specialty Manufacturing. NewSpring Capital currently manages over $500 million across three distinct investment strategies through its family of funds. The firm’s highly cohesive investment team has a strong track record of investing in both private and public transactions, collectively representing more than 100 years of experience investing over $1 billion.
Penn Venture Partners
Penn Venture Partners, LP is a private equity fund whose objective is to seek long-term capital appreciation primarily through growth and expansion stage venture capital investments in companies located within Central and Northern Pennsylvania. The Penn Venture Partners, LP strategy is to invest in companies that currently have an established product or service and are generating profits or have significant profit potential, but are in need of growth capital that cannot be obtained through traditional capital sources due to lack of collateral or an inadequate capital base. The Fund expects to hold investments in these companies from two to five years. Initial investments typically range from $500,000 to $1,250,000, depending upon the needs of the particular company.