Founded in 1957 by Philips Electronics, Thermocoax is now a leading manufacturer of customised thermal solutions and temperature measurement systems based on mineral insulated cable technology. The company serves principally six high technology markets: nuclear power, aeronautics, defence and space (“ADS”), analytical and medical equipment, electronics and semiconductor manufacturing equipment, power generation turbines and manufacturing equipment including food processing, plastics processing and metallurgy equipment.

TCR Capital was able to acquire the group in a secondary buyout, allowing the management team to significantly increase their equity stake as well as accelerate the growth strategy initiated during their first LBO. Over the last five years, the management team has successfully positioned the company so that it can take advantage of the attractive opportunities in its existing markets (notably the nuclear sector which is experiencing important growth as a result of the worldwide refurbishing requirements) as well as explore new ones such as the US and China, or new sectors such as aluminium casting and petrochemicals.