LANCASTER, Pa. — Burnham Holdings Inc., the parent firm of companies that manufacture boilers and other HVAC products and accessories, is divesting the assets of its subsidiaries Thermo Pride and Norwood Manufacturing.
The move aligns with the company’s long-term goal of strengthening its core boiler business while expanding its commercial and industrial rental and service operations, a press release from Burnham said.
Thermo Pride and Norwood are being acquired by R.W. Beckett Corp. of North Ridgeville, Ohio, in exchange for $27.6 million in cash, subject to customary adjustments. These acquisitions will enable Beckett to expand its offerings for the liquid fuels industry, Burnham’s press release said.
“This decision allows us to further focus on and strengthen our offerings in the commercial industrial boiler service and support segment of our marketplace,” said Chris Drew, Burnham’s president and CEO. “We are committed to providing our customers with technically advanced, reliable, high-quality boiler solutions, and this strategic divestiture will enable us to better serve their critical operational requirements.”
“We are honored to welcome the talented teams from Thermo Pride and Norwood Manufacturing into the Beckett family,” said Kevin Beckett, CEO of R.W. Beckett. “These teams have built a legacy of craftsmanship, innovation, and integrity that has earned deep respect across the industry. We’re excited to carry that legacy forward — enhancing our offerings and continuing to serve our customers with the same dedication and excellence these teams have long exemplified.”
The divestiture of Thermo Pride and Norwood, along with the previously announced wind-down of manufacturing operations at Crown Boiler in Philadelphia, Pennsylvania, are part of Burnham’s commitment to focus on boiler operations, with a specific longer-term focus on growing and developing the commercial and industrial boiler service and installation business, including the expansion of mobile boiler room offerings.
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