Burnham Holdings, Inc. Announces Subsidiary Divestiture Plan
Burnham Holdings (BURCA) has announced plans to divest its Thermo Pride and Norwood Manufacturing subsidiaries to R.W. Beckett Corporation for $27.6 million in cash. The strategic divestiture, along with the previously announced wind down of Crown Boiler operations in Philadelphia, allows Burnham to focus on its core commercial and industrial boiler service business.
The company will concentrate on strengthening its position in providing comprehensive boiler solutions across residential, commercial, and industrial sectors, with emphasis on expanding its mobile boiler room offerings through Thermal InMotion. The transaction was managed by Janney Montgomery Scott's investment banking group and attracted multiple competitive bids.
The acquired businesses will enable R.W. Beckett to expand its liquid fuels industry offerings, while Burnham Holdings continues to focus on its hydronic solutions portfolio, including cast-iron residential boiler products and high-efficiency condensing boilers.Burnham Holdings (BURCA) ha annunciato l'intenzione di cedere le sue controllate Thermo Pride e Norwood Manufacturing alla R.W. Beckett Corporation per 27,6 milioni di dollari in contanti. Questa cessione strategica, insieme alla precedente decisione di chiudere le attività di Crown Boiler a Philadelphia, permette a Burnham di concentrarsi sul suo core business di servizi per caldaie commerciali e industriali.
L'azienda punterà a rafforzare la propria posizione nell'offerta di soluzioni complete per caldaie nei settori residenziale, commerciale e industriale, con particolare attenzione all'espansione delle soluzioni di centrali termiche mobili tramite Thermal InMotion. La transazione è stata gestita dal gruppo di investment banking di Janney Montgomery Scott e ha attirato numerose offerte competitive.
Le attività acquisite consentiranno a R.W. Beckett di ampliare la propria offerta nel settore dei combustibili liquidi, mentre Burnham Holdings continuerà a focalizzarsi sul portafoglio di soluzioni idroniche, inclusi prodotti per caldaie residenziali in ghisa e caldaie a condensazione ad alta efficienza.
Burnham Holdings (BURCA) ha anunciado planes para vender sus subsidiarias Thermo Pride y Norwood Manufacturing a R.W. Beckett Corporation por 27,6 millones de dólares en efectivo. Esta desinversión estratégica, junto con el cierre previamente anunciado de las operaciones de Crown Boiler en Filadelfia, permite a Burnham centrarse en su negocio principal de servicios para calderas comerciales e industriales.
La compañía se enfocará en fortalecer su posición ofreciendo soluciones integrales para calderas en los sectores residencial, comercial e industrial, con énfasis en expandir su oferta de salas de calderas móviles a través de Thermal InMotion. La transacción fue gestionada por el grupo de banca de inversión de Janney Montgomery Scott y atrajo múltiples ofertas competitivas.
Las empresas adquiridas permitirán a R.W. Beckett ampliar sus ofertas en la industria de combustibles líquidos, mientras que Burnham Holdings continuará enfocándose en su cartera de soluciones hidrónicas, incluyendo productos de calderas residenciales de hierro fundido y calderas de condensación de alta eficiencia.
Burnham Holdings (BURCA)는 자회사인 Thermo Pride와 Norwood Manufacturing을 현금 2,760만 달러에 R.W. Beckett Corporation에 매각할 계획을 발표했습니다. 이번 전략적 매각과 필라델피아에 위치한 Crown Boiler 사업의 단계적 종료 결정으로 Burnham은 상업 및 산업용 보일러 서비스 핵심 사업에 집중할 수 있게 되었습니다.
회사는 주거용, 상업용, 산업용 부문에서 종합 보일러 솔루션 제공을 강화하고 Thermal InMotion을 통한 이동식 보일러룸 서비스 확장에 주력할 예정입니다. 이 거래는 Janney Montgomery Scott의 투자은행 그룹이 관리했으며 여러 경쟁 입찰을 유치했습니다.
인수된 사업은 R.W. Beckett가 액체 연료 산업 분야를 확장하는 데 기여할 것이며, Burnham Holdings는 주철 주택용 보일러 제품과 고효율 응축 보일러를 포함한 수열 솔루션 포트폴리오에 계속 집중할 것입니다.
Burnham Holdings (BURCA) a annoncé son intention de céder ses filiales Thermo Pride et Norwood Manufacturing à R.W. Beckett Corporation pour 27,6 millions de dollars en espèces. Cette cession stratégique, ainsi que la fermeture annoncée des opérations de Crown Boiler à Philadelphie, permet à Burnham de se concentrer sur son activité principale de services de chaudières commerciales et industrielles.
L'entreprise prévoit de renforcer sa position en offrant des solutions complètes pour chaudières dans les secteurs résidentiel, commercial et industriel, en mettant l'accent sur l'expansion de ses offres de chaufferies mobiles via Thermal InMotion. La transaction a été gérée par le groupe de banque d'investissement de Janney Montgomery Scott et a suscité plusieurs offres concurrentielles.
Les entreprises acquises permettront à R.W. Beckett d'élargir son offre dans l'industrie des combustibles liquides, tandis que Burnham Holdings continuera de se concentrer sur son portefeuille de solutions hydroniques, incluant des produits de chaudières résidentielles en fonte et des chaudières à condensation à haute efficacité.
Burnham Holdings (BURCA) hat Pläne angekündigt, seine Tochtergesellschaften Thermo Pride und Norwood Manufacturing für 27,6 Millionen US-Dollar in bar an die R.W. Beckett Corporation zu verkaufen. Diese strategische Veräußerung sowie die zuvor angekündigte Einstellung der Crown Boiler-Aktivitäten in Philadelphia ermöglichen es Burnham, sich auf das Kerngeschäft mit gewerblichen und industriellen Kesseldienstleistungen zu konzentrieren.
Das Unternehmen wird seinen Fokus darauf legen, seine Position bei umfassenden Kessel-Lösungen für Wohn-, Gewerbe- und Industriebereiche zu stärken, mit besonderem Schwerpunkt auf der Erweiterung seines mobilen Kesselraumsortiments durch Thermal InMotion. Die Transaktion wurde von der Investmentbanking-Gruppe von Janney Montgomery Scott betreut und zog mehrere wettbewerbsfähige Gebote an.
Die erworbenen Unternehmen ermöglichen es R.W. Beckett, sein Angebot im Bereich Flüssigbrennstoffe auszubauen, während Burnham Holdings weiterhin auf sein Portfolio an hydronischen Lösungen setzt, einschließlich gusseiserner Wohnkesselprodukte und hocheffizienter Brennwertkessel.
- Strategic divestiture generates $27.6 million in cash proceeds
- Allows company to focus resources on core boiler business and service operations
- Enables expansion of profitable mobile boiler room offerings through Thermal InMotion
- Transaction attracted multiple competitive bids, indicating strong market interest
- Loss of revenue streams from Thermo Pride and Norwood Manufacturing subsidiaries
- Reduction in business diversification with exit from certain market segments
- Ongoing wind down costs associated with Crown Boiler manufacturing operations
Strategic move allows company to focus on core operations and drive growth in its commercial and industrial boiler service business
The TP and NMI businesses are being acquired by the R.W. Beckett Corporation (RWB) of
The divestiture allows BHI to focus its resources and efforts on enhancing its position as a leading provider of comprehensive boiler solutions for the residential, commercial and industrial sectors where they offer an industry leading portfolio of high-quality hydronic solutions, including cast-iron residential boiler products, hydronic heating accessories and advanced high efficiency condensing boilers. BHI will continue to concentrate on its boiler subsidiaries, leveraging their strong management teams to drive synergies, improve efficiencies, and support continued growth.
"Burnham Holdings is committed to meeting the ever-evolving needs of our key boiler markets. This decision allows us to further focus on and strengthen our offerings in the commercial industrial boiler service and support segment of our marketplace," said Chris Drew, President and CEO of Burnham Holdings, Inc. "We are committed to providing our customers with technically advanced, reliable, high-quality boiler solutions, and this strategic divestiture will enable us to better serve their critical operational requirements."
"We are honored to welcome the talented teams from Thermo Pride and Norwood Manufacturing into the Beckett family," said Kevin Beckett, CEO of R.W. Beckett. "These teams have built a legacy of craftsmanship, innovation, and integrity that has earned deep respect across the industry. We're excited to carry that legacy forward – enhancing our offerings and continuing to serve our customers with the same dedication and excellence these teams have long exemplified."
The divestiture of TP and NMI along with the previously announced wind down of manufacturing operations at Crown Boiler in
About Burnham Holdings, Inc.
BHI is the parent company of multiple subsidiaries that are leading domestic manufacturers of boilers, furnaces and related HVAC products and accessories for residential, commercial, and industrial applications. BHI is listed on the OTC Exchange under the ticker symbol "BURCA." For more information, please visit www.burnhamholdings.com.
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SOURCE Burnham Holdings, Inc.
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