08:03 AM EDT, 10/03/2024 (MT Newswires) -- Thermon Group Holdings ( THR ) said Thursday it has acquired Italy's Fabbrica Apparecchiature Termoelettriche Industriali for 12.5 million euros ($13.8 million) in cash.

The Milan-based firm, with over 12 million euros in 2023 revenue, designs and builds electrical heaters and heating systems for the energy and pharmaceutical industries.

Thermon ( THR ) Chief Executive Bruce Thames said the acquisition "is highly complementary to our product portfolio and broadens our geographic footprint."