Wellspring Capital Management

Will Partner With ThermaSys Corporation to Expand Product and Service Offerings NEW YORK--(BUSINESS WIRE)-- Wellspring Capital Management LLC (“Wellspring”) today announced that an affiliate has acquired API Heat Transfer Inc. (“API Heat Transfer”), one of the largest full-service producers of industrial heat exchangers and heat transfer systems, from Industrial Growth Partners. Financial terms of the transaction were not disclosed. In January 2012, the same Wellspring affiliate acquired ThermaSys Corporation (“ThermaSys”), a leading manufacturer of a wide range of heat exchangers ...