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 attivit脿 di Crown Boiler a Philadelphia, permette a Burnham di concentrarsi sul suo core business di servizi per caldaie commerciali e industriali.
L'azienda punter脿 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 猫 stata gestita dal gruppo di investment banking di Janney Montgomery Scott e ha attirato numerose offerte competitive.
Le attivit脿 acquisite consentiranno a R.W. Beckett di ampliare la propria offerta nel settore dei combustibili liquidi, mentre Burnham Holdings continuer脿 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 d贸lares en efectivo. Esta desinversi贸n estrat茅gica, 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 compa帽铆a se enfocar谩 en fortalecer su posici贸n ofreciendo soluciones integrales para calderas en los sectores residencial, comercial e industrial, con 茅nfasis en expandir su oferta de salas de calderas m贸viles a trav茅s de Thermal InMotion. La transacci贸n fue gestionada por el grupo de banca de inversi贸n de Janney Montgomery Scott y atrajo m煤ltiples ofertas competitivas.
Las empresas adquiridas permitir谩n a R.W. Beckett ampliar sus ofertas en la industria de combustibles l铆quidos, mientras que Burnham Holdings continuar谩 enfoc谩ndose en su cartera de soluciones hidr贸nicas, incluyendo productos de calderas residenciales de hierro fundido y calderas de condensaci贸n de alta eficiencia.
Burnham Holdings (BURCA)電� 鞛愴殞靷澑 Thermo Pride鞕� Norwood Manufacturing鞚� 順勱笀 2,760毵� 雼煬鞐� R.W. Beckett Corporation鞐� 毵り皝頃� 瓿勴殟鞚� 氚滍憸頄堨姷雼堧嫟. 鞚措矆 鞝勲灥鞝� 毵り皝瓿� 頃勲澕雿疙敿鞎勳棎 鞙勳箻頃� Crown Boiler 靷梾鞚� 雼硠鞝� 膦呺 瓴办爼鞙茧 Burnham鞚� 靸侅梾 氚� 靷办梾鞖� 氤挫澕霟� 靹滊箘鞀� 頃奠嫭 靷梾鞐� 歆戩頃� 靾� 鞛堦矊 霅橃棃鞀惦媹雼�.
須岇偓電� 欤缄卑鞖�, 靸侅梾鞖�, 靷办梾鞖� 攵�氍胳棎靹� 膦呿暕 氤挫澕霟� 靻旊（靺� 鞝滉车鞚� 臧曧檾頃橁碃 Thermal InMotion鞚� 韱淀暅 鞚措彊鞁� 氤挫澕霟８ 靹滊箘鞀� 頇曥灔鞐� 欤茧牓頃� 鞓堨爼鞛呺媹雼�. 鞚� 瓯半灅電� Janney Montgomery Scott鞚� 韴瀽鞚�頄� 攴鸽９鞚� 甏�毽枅鞙茧┌ 鞐煬 瓴届焷 鞛呾鞍鞚� 鞙犾箻頄堨姷雼堧嫟.
鞚胳垬霅� 靷梾鞚� R.W. Beckett臧� 鞎§泊 鞐半 靷办梾 攵勳暭毳� 頇曥灔頃橂姅 雿� 旮办棳頃� 瓴冹澊氅�, Burnham Holdings電� 欤检矤 欤柬儩鞖� 氤挫澕霟� 鞝滍拡瓿� 瓿犿毃鞙� 鞚戩稌 氤挫澕霟ゼ 韽暔頃� 靾橃棿 靻旊（靺� 韽姼韽措Μ鞓れ棎 瓿勳啀 歆戩頃� 瓴冹瀰雼堧嫟.
Burnham Holdings (BURCA) a annonc茅 son intention de c茅der ses filiales Thermo Pride et Norwood Manufacturing 脿 R.W. Beckett Corporation pour 27,6 millions de dollars en esp猫ces. Cette cession strat茅gique, ainsi que la fermeture annonc茅e des op茅rations de Crown Boiler 脿 Philadelphie, permet 脿 Burnham de se concentrer sur son activit茅 principale de services de chaudi猫res commerciales et industrielles.
L'entreprise pr茅voit de renforcer sa position en offrant des solutions compl猫tes pour chaudi猫res dans les secteurs r茅sidentiel, commercial et industriel, en mettant l'accent sur l'expansion de ses offres de chaufferies mobiles via Thermal InMotion. La transaction a 茅t茅 g茅r茅e par le groupe de banque d'investissement de Janney Montgomery Scott et a suscit茅 plusieurs offres concurrentielles.
Les entreprises acquises permettront 脿 R.W. Beckett d'茅largir 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 chaudi猫res r茅sidentielles en fonte et des chaudi猫res 脿 condensation 脿 haute efficacit茅.
Burnham Holdings (BURCA) hat Pl盲ne angek眉ndigt, seine Tochtergesellschaften Thermo Pride und Norwood Manufacturing f眉r 27,6 Millionen US-Dollar in bar an die R.W. Beckett Corporation zu verkaufen. Diese strategische Ver盲u脽erung sowie die zuvor angek眉ndigte Einstellung der Crown Boiler-Aktivit盲ten in Philadelphia erm枚glichen es Burnham, sich auf das Kerngesch盲ft mit gewerblichen und industriellen Kesseldienstleistungen zu konzentrieren.
Das Unternehmen wird seinen Fokus darauf legen, seine Position bei umfassenden Kessel-L枚sungen f眉r Wohn-, Gewerbe- und Industriebereiche zu st盲rken, 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 wettbewerbsf盲hige Gebote an.
Die erworbenen Unternehmen erm枚glichen es R.W. Beckett, sein Angebot im Bereich Fl眉ssigbrennstoffe auszubauen, w盲hrend Burnham Holdings weiterhin auf sein Portfolio an hydronischen L枚sungen setzt, einschlie脽lich 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聽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 鈥� 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聽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 .听
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SOURCE Burnham Holdings, Inc.
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