Thermon Group Holdings, Inc. Acquisition Update

1. What happened?

CECO Environmental Corp. has officially acquired Thermon Group Holdings, Inc. The merger closed on June 1, 2026. Thermon is no longer an independent, publicly traded company; it is now a subsidiary of CECO. If you owned Thermon shares, they have been converted into cash, CECO stock, or a mix of both, based on the election process finalized during the merger.

2. Why did it happen?

This merger combines Thermon’s industrial heating technology with CECO’s broader environmental and industrial solutions. The goal is to streamline operations by cutting overlapping corporate costs and leveraging a larger global footprint. CECO plans to integrate Thermon’s expertise into its existing air and water quality product lines to create a more diversified industrial portfolio.

3. Who is leading the new team?

CECO CEO Todd Gleason is leading the combined company. To maintain continuity and provide oversight, former Thermon directors Victor Richey and Marcus George have joined the CECO Board of Directors.

4. Why does this matter for your portfolio?

Thermon stock (formerly "THR") no longer trades on the New York Stock Exchange. Your investment is no longer tied to Thermon as a standalone entity. You now hold either cash or shares in CECO Environmental Corp., which trades on the Nasdaq under the ticker "CECO." Your exposure to the industrial heating sector is now part of the larger CECO organization’s performance and strategic direction.

5. Who is affected?

• Investors: Your Thermon stock has been converted. Please check your brokerage account to confirm the receipt of your cash or new CECO shares.
• Customers: Thermon’s day-to-day operations for heating products and services are expected to continue as usual under the new ownership.
• Employees: Outstanding equity awards, such as restricted stock units, have been converted into CECO-equivalent awards. Future compensation is now tied to CECO’s performance.

6. What happens next?

Thermon is now fully integrated into CECO. You will no longer see independent quarterly earnings reports for Thermon; instead, Thermon’s financial results will be included in CECO’s consolidated reports.

CECO is hosting an investor conference call on June 9, 2026, at 8:30 AM ET to discuss the integration and future growth plans. You can listen to the webcast or register for the call via the CECO Investor Relations website.

7. Practical tips for investors

• Verify your holdings: Log into your brokerage account to ensure your Thermon shares were correctly processed and that your account reflects the expected cash or stock balance.
• Update your tracking: Remove "THR" from your watchlists and add "CECO" to monitor your new investment.
• Consult a tax professional: Because this merger is a taxable event for many shareholders, you should speak with a tax advisor to understand how this impacts your cost basis and potential tax liability.
• Review the new entity: Since your investment has changed, take a moment to review CECO’s recent filings and investor presentations. Understanding their business model will help you decide if you want to hold your new CECO shares or reallocate your capital elsewhere.

Disclaimer: I am an AI, not a financial advisor. This summary is for informational purposes only and does not constitute financial advice. Always do your own research or consult with a qualified professional before making investment decisions.