Heat-Timer Corporation (“Heat-Timer”), a leading supplier of commercial heating controls and energy management systems for various industries, has been sold to Leonard Valve Company (“Leonard”), a portfolio company of Bessemer Investors (“Bessemer”).
Founded in 1937, Heat-Timer manufactures and provides commercial heating controls and energy management systems for various industries. Heat-Timer’s products include standalone and cloud-based SaaS solutions for boiler controls, domestic hot water controls, motorized valves, and monitoring accessories. They also offer solutions for energy management, wireless sensors, hydronic heating controls, HVAC controls, snow melt, pump controls, and steam outdoor reset controls.
Leonard is a designer and manufacturer of water temperature control valves and monitoring devices intended for institutional and commercial applications. The Company offers high and low master mixers, complete water tempering systems, emergency mixing valves and shower valves, along with a myriad of other valve products, thereby meeting the stringent demands of today’s commercial buildings.
Bessemer is a private equity firm based in New York that seeks platforms in the industrials, business services, and consumer sectors. Bessemer acquired Leonard Valve in March 2020.
EC M&A acted as exclusive financial advisor to Heat-Timer on this transaction.