Havencrest Capital Management has announced it has acquired ThermoTek.
ThermoTek, based in Flower Mound, Texas, provides a broad range of temperature management solutions to the medical and industrial end markets, specifically cold compression devices used in post-orthopedic surgery rehabilitation and cooling units used in industrial applications.
Havencrest, based in Dallas, is a lower middle market private equity investment firm focused exclusively on the healthcare industry. The firm prefers to partner with founder-owned healthcare companies with EBITDA between $2 million and $10 million and revenue of at least $10 million. Within healthcare, Havencrest targets sub-sectors of behavioral health, healthcare services, medical products, pharma services, post-acute care and technology-enabled services.
Terms of the acquisition were not disclosed.