Synergies and Outlook
The companies project roughly $40 million in annual cost synergies within 36 months of closing. They also expect a more balanced revenue mix, with stronger exposure to short-cycle demand and higher-margin aftermarket services — the kind of recurring revenue that steadies companies through industrial cycles.
Both boards unanimously approved the deal. The companies anticipate the transaction will close in mid-2026, pending customary conditions.
Advisers Behind the Deal
Gibson Dunn & Crutcher LLP is advising CECO on the transaction, while Sidley Austin LLP is representing Thermon. The Sidley team is led by partners Scott Williams and Matthew Stoker.
If completed, the deal could mark a defining moment for both companies — an industrial-scale recalibration aimed at heating up growth while cleaning up emissions in an increasingly regulated global market.
