THR Thermon Group Holdings, Inc.
Price Chart
Executive Summary
This 8-K confirms the completion of CECO Environmental's acquisition of Thermon Group on June 1, 2026. Thermon shareholders received a mix of cash and/or CECO stock per their election, totaling approximately $329.4 million in cash and 22.53 million CECO shares. Thermon common stock was delisted from the NYSE, and all Thermon directors and officers ceased their positions effective upon the merger. The credit agreement was terminated and repaid in full.
Actionable Insight
THR shares will cease trading and have no further standalone value; former holders now hold CECO (CECO) shares or cash. Traders should transition focus to CECO's post-merger integration, synergies, and June 9 investor call. The delisting eliminates THR as a trading vehicle.
Key Facts
- CECO Environmental completed its acquisition of Thermon Group Holdings on June 1, 2026.
- Thermon shareholders received $63.89 per share in cash, 0.8110 CECO shares per Thermon share, or a mixed option of $10 cash plus 0.6840 CECO shares, subject to proration.
- Total consideration included approximately $329.4 million in cash and 22.53 million CECO shares issued to former Thermon stockholders.
- Approximately 32.94 million Thermon shares were outstanding immediately prior to the merger.
- Thermon common stock was delisted from the NYSE and trading suspended before the open on June 1, 2026.
- All Thermon directors and executive officers ceased their positions effective at the merger close.
- Thermon's credit agreement with JPMorgan was terminated and repaid in full.
- The merger was approved by stockholders of both companies on May 27, 2026.
- Two former Thermon directors, Victor Richey and Marcus George, joined CECO's board.
Financial Impact
Total consideration ~$329.4 million cash plus 22.53 million CECO shares, implying an enterprise value approximately $2.1 billion based on the $63.89/sh cash election value on 32.94 million shares.
Risk Factors
- Integration risk: combining two distinct industrial businesses may fail to achieve projected synergies.
- CECO's stock price may react negatively to the dilutive share issuance (22.53 million shares) and debt assumed.
- Execution risk around CECO's ability to retain Thermon customers and key personnel.
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-068666 |
| Document: tm2616040d1_ex99-1.htm | 0001104659-26-068666 |
| Document: 0001104659-26-068666-index-headers.html | 0001104659-26-068666 |
| Document: 0001104659-26-068666-index.html | 0001104659-26-068666 |
| Document: 0001104659-26-068666.txt | 0001104659-26-068666 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 1, 2026
11d ago
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25-NSE
| $61.02 awaiting T+1 | awaiting T+1 | — | — |
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Jun 1, 2026
11d ago
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8-K
| $61.02 awaiting T+1 | awaiting T+1 | — | — |
|
May 28, 2026
15d ago
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8-K
| $66.81 $61.14 | ▼ −8.49% | ▼ −8.73% | — |
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May 19, 2026
24d ago
|
425
| $65.43 $65.04 | ▼ −0.60% | ▼ −0.79% | — |
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May 19, 2026
24d ago
|
8-K
| $63.42 $65.43 | ▲ +3.17% | ▲ +2.13% | — |
|
Apr 20, 2026
7w ago
|
8-K
| $54.12 $51.80 | ▼ −4.29% | ▼ −3.63% | — |
US Market Status
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