Calvert Street Capital Partners and Thermal Process Holdings, Inc.

Thermal Process Holdings, Inc. (“TPH”) is pleased to announce Mr. Todd McDonald as President and Chief Executive Officer. McDonald will oversee TPH’s five current commercial heat treat operating locations, and work closely with the TPH leadership team to grow the organization and create a positive experience for TPH customers and employees.

“Having Todd in a leadership role is a game changer for us. He is an accomplished executive with a strong track record of delivering operational excellence and growth. Todd shares our passion for the heat treating industry and embodies our entrepreneurial spirit, and we are very excited to have him on our team,” commented John Hubbard, Chairman of the Board at Thermal Process Holdings.

Mr. McDonald previously served as President and Chief Executive Officer of Signicast, a global leader in commercial investment castings, which was previously owned by investment affiliates of the Pritzker Group. During his time at Signicast, the company experienced significant growth and improvement in operating metrics. In addition, he led the successful launch of a new state-of-the-art facility which, combined with Signicast’s seven other plants, created just under one million square feet of manufacturing space for their extensive captive heat treating operations. Signicast was sold in 2017 to Dynacast.

“I am delighted to join John Hubbard and the Thermal Process Holdings team, and I’m looking forward to the growth opportunities ahead of us,” commented McDonald. “Through my prior experience in the thermal processing industry, I’ve had a chance to work with some of the TPH companies, and am excited to partner with all of our employees to build upon the excellent businesses they’ve created.
Mr. McDonald earned his B.S. in Business Economics from South Dakota State, where he was also an All-American football quarterback. He currently lives in Hartland, Wisconsin with his wife and two children.

ABOUT THERMAL PROCESS HOLDINGS, INC. Thermal Process Holdings was formed by Calvert Street Capital Partners and John Hubbard (former CEO of Bodycote, PLC) to pursue a buy-and-build strategy in the thermal processing industry. The team has a stated goal to build a diversified, professionally-managed thermal processing business generating over $100 million of revenue. TPH currently owns and operates four businesses: Diamond Heat Treat, based in Rockford, IL; Certified Heat Treating, based in Springfield, OH; Hudapack Metal Treating, based in Elkhorn and Franklin, WI; and P&L Heat Treating, based in Youngstown, OH. TPH is actively seeking other add-on acquisition opportunities.

ABOUT CALVERT STREET. Calvert Street Capital Partners is a Baltimore, Maryland-based private equity firm with a focus on investing in industrial service businesses in the lower middle-market. Since its inception in 1995, Calvert Street has partnered with skilled management teams of privately held businesses to drive profitable growth and organizational transformation. TPH builds upon Calvert Street’s experience in other high-value add industrial sectors, including testing and inspection and precision machining.

For more information, please go to Contacts, Julie Padgett, CompleteSpectrum, (813) 907-2150, [email protected]