Thermal Process Holdings Announces Acquisition

Thermal Process Holdings, Inc. (“TPH”) is pleased to announce its acquisition of P & L Heat Treating (“P&L”) based in Youngstown, Ohio. P&L is a high quality provider focused in particular on tool and die work. Bill Pociask founded P&L in 1978 and serves as President. P&L represents the fourth investment (and fifth heat treating facility) in our strategy to build a leading thermal processing company focused on value-added services. Central to this strategy is identifying and bringing together leading businesses that share a focus on safety, quality, service, and advanced technology.

John Hubbard, Chairman of TPH, said: “We are delighted to partner with Bill Pociask and the P&L team. P&L is a well-run heat treating operation providing high quality service. Both Bill Pociask and P&L are excellent additions to the TPH group.”
Bill Pociask, founder and President of P&L commented: “I am excited to work with the TPH group of companies. There are many opportunities for us to help each other grow and continue to serve our customers. The future is very bright for P&L.”

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 also owns and operates: Diamond Heat Treat, based in Rockford, IL; Certified Heat Treating, based in Springfield, OH; and Hudapack Metal Treating, based in Elkhorn and Franklin, Wisconsin. TPH is actively seeking other add-on acquisition opportunities.

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