Conair parent company IPEG buys Thermal Care

In a bid to create a new powerhouse in the heat-transfer technology world, IPEG, Inc., the parent company of The Conair Group and Rapid Granulator, is acquiring the assets of Thermal Care, Inc., a manufacturer of temperature controllers, portable and central chillers, cooling towers and pump tanks.

The terms of the deal have not been disclosed.

The deal is expected to close April 30, 2013, according to IPEG CEO Chris Keller. IPEG is headquartered in Cranberry Township, Pa.

This is the second IPEG acquisition in less than a month. On April 15, the company announced the purchase of Republic Machine, Louisville, Ky.-based maker of single-shaft shredding machinery used in recycling of plastics and other materials.

Under the terms of this latest purchase, Keller said, Thermal Care will operate as a wholly owned subsidiary of IPEG, maintaining business offices and manufacturing operations at its existing location in Niles, Ill., and will operate independently of Conair and Rapid.

Steve Buck, the current president of Thermal Care, will assume other responsibilities with MFRI, IGEG said in a news release, but other staff is expected to remain. Tom Benson, a 25-year employee and current vice president sales and marketing for Thermal Care, will be named president.

“Together, our two companies have over 20 full-time engineers dedicated to heat transfer,” said Conair president Larry Doyle.