Watlow, a designer and manufacturer of complete thermal systems, signed a definitive agreement to sell to Tinicum L.P., a private-equity firm. The deal is expected to close as quickly as reasonably possible pending receipt of customary regulatory approvals. Watlow’s products include a range of industrial heaters, thermocouples, RTDs, power controllers and data loggers. The company’s headquarters will remain in St. Louis, Mo.
Over the last 15 years, Watlow has transformed itself into a diversified industrial technology company providing thermal solutions to companies in industries such as semiconductor manufacturing, sustainable power generation, environmental technologies and medical equipment manufacturing. In order to more rapidly achieve its goals, Watlow chose Tinicum as a partner that will continue its legacy while helping to fund significant investments, enable its acquisition strategy and accelerate its broader long-term strategy.