Cummins-Wagner Co., Inc. Finalizes Acquisition of Thermoflo Equipment Co., Inc.

June 18, 2024

Cummins-Wagner Co., Inc., a leading manufacturers representative/distributor of HVAC equipment, plumbing equipment, industrial process equipment, municipal water and wastewater equipment in the Mid-Atlantic and New England region, is pleased to announce that it has finalized the acquisition of Thermoflo Equipment Co., Inc.

Thermoflo, headquartered in Pittsburgh, PA, is recognized as a leading manufacturer’s representative/distributor. Thermoflo specializes in hydronic heating and air conditioning, water heating, plumbing and steam products in the residential, commercial and industrial markets. Their trading area covers western and central Pennsylvania, the Maryland panhandle, West Virginia, and parts of eastern Ohio.

This transaction is a key part of Cummins-Wagner’s business strategy of steady, manageable growth through market penetration and acquisition. “The combination of Cummins-Wagner and Thermoflo creates a Company with greater scale and resources to continue and expand our ability to provide experienced engineered sales and service in the commercial & residential HVAC and plumbing markets.” states Doug Ardinger, CEO of Cummins-Wagner.

“Teaming up with Cummins-Wagner brings stability for the future of the company. It will provide resources to ensure Thermoflo will continue to grow in the markets we serve.” said Matt Larkin, President of Thermoflo.

The Thermoflo employees will become part of Cummins-Wagner’s 100% Employee Stock Ownership Plan (ESOP). “The ESOP is a tremendous benefit and we are excited to have Thermoflo personnel become fellow employee owners and participate in the future success of the company,” said David Palmer, VP / CFO of Cummins-Wagner.

About Cummins-Wagner
Cummins-Wagner is a distributor of water/wastewater equipment, industrial process equipment, including fluid and compressed air, along with plumbing and HVAC equipment. Support services include system design, assembly, aftermarket service and repair. Founded in 1960, the Company has grown to 275 employees and 12 locations. The Company is 100% employee owned through the Cummins-Wagner Employee Stock Ownership Trust. Cummins-Wagner is headquartered in Annapolis Junction, MD with branch offices in Maryland, Pennsylvania, Delaware, Virginia, New York and Massachusetts handling the Mid-Atlantic and New England sales territories.

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Posted on June 18, 2024. Categorized as .

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