Therma Holdings LLC Acquires Yearout Mechanical

Expands Footprint of Leading Bay Area Mechanical Services Provider

SAN JOSE, CA (January 15, 2019) – Therma Holdings LLC (“Therma”), a portfolio company of Gemspring Capital, today announced it has acquired Yearout Mechanical, an Albuquerque, N.M.-based design-build provider of mechanical, fabrication and maintenance services.

Founded in 1963, Yearout Mechanical is a full-service mechanical services provider offering engineering, installation and maintenance for HVAC, plumbing and piping systems for commercial, institutional and light industrial facilities. The company’s in-house fabrication and design-build capabilities differentiate Yearout as a leader in its regional market.

“Yearout Mechanical is an established company with a great reputation with customers and general contractors in the New Mexico market and is an excellent fit with Therma’s growth strategy,” said Therma CEO Joe Parisi.

Brooks Corcoran, Director, M&A and Strategy at Therma, added: “Therma is one of the largest design-build mechanical service providers in the country and a leading provider of mission critical services in the Bay Area. The acquisition of Yearout Mechanical expands our geographic footprint in an attractive and growing market.”

Yearout Mechanical President Kevin Yearout said, “We are excited to join the Therma team and look forward to delivering the same high-quality service to our valued customers.”

Kevin Yearout will continue to lead Yearout Mechanical, a division of Therma Holdings.

About Yearout Mechanical

Yearout Mechanical is an Albuquerque, New Mexico based design-build mechanical services provider offering service, installation, fabrication and maintenance of HVAC, plumbing and piping systems.  For more information, please visit www.yearout.com.

About Therma Holdings LLC

Therma Holdings LLC is a leading Bay Area mechanical services company focused on designing, building, and servicing custom and complex mechanical systems primarily related clean rooms, R&D, and manufacturing facilities. Therma provides engineering, estimation, design, building information modeling, energy modeling, design-build, specialty HVAC and pipe fabrication, modular skid and process controls, pre-fabrication and installation work for general contractors, construction managers and owners in the technology, biopharmaceutical, data center, semiconductor and other industries with complex mechanical requirements. For more information, please visit www.therma.com.

About Gemspring Capital

Gemspring Capital, a Westport, Connecticut-based private equity firm with $355 million of equity capital under management, focuses on making control and structured equity investments in lower middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and takes a hands-on approach to driving revenue growth and value creation. For more information, please visit www.gemspring.com.