Press release

Therma Names Jeffrey Sprau as CEO and Promotes Steve Hansen to President

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Therma Holdings LLC, a leading mechanical services company, announced
the hiring of Jeffrey Sprau as the new Chief Executive Officer. He
succeeds the founder, Joe Parisi, who will become Chairman of Therma’s
Board of Directors. Therma veteran Steve Hansen, EVP, has been named
President of Therma LLC and will lead the California operations of the

Sprau comes to Therma with a strong background in successfully leading
branch-based commercial and industrial service businesses. Earlier in
his career, Sprau spent 20+ years with Trane and Johnson Controls before
becoming President of the U.S. Division of Safway. Most recently, he
served as President of BrandSafway’s Commercial & Industrial Division, a
$1.8 billion business. “I am very excited to be joining Therma and look
forward to working with Joe, Steve and the rest of the Therma team to
continue Therma’s long history of growth, innovation, strong customer
service and focus on safety. We are also pleased that Joe will continue
to contribute his expertise as Chairman,” says Sprau.

Parisi added, “As founders, Nicki Parisi and I care deeply about the
people and customers that we have worked with over the past 51 years.
Steve Hansen, a 17 year veteran of Therma, will make a great President
of Therma and understands the culture and quality that has driven our
success and strong customer relationships. I am also excited to work
with our new CEO, Jeff Sprau, who brings great experience and fits well
with the collaborative, team driven culture we have worked to achieve at

Founded in 1967, Therma operates in Northern and Southern California and
New Mexico. The company employs over 1,100 professionals and skilled
tradespersons providing a full suite of innovative mechanical services
for owners, general contractors and construction managers with complex
mechanical requirements. Therma was acquired by Gemspring Capital, a
Westport, Connecticut-based private equity firm in 2017.

About Therma Holdings LLC

Therma Holdings LLC is a leading mechanical services company focused on
designing, building, and servicing custom and complex mechanical
systems. Therma provides engineering, estimation, design, building
information modeling, energy modeling, design-build, specialty HVAC and
pipe fabrication, modular skid and process controls, pre-fabrication and
installation work for general contractors, construction managers and
owners in the technology, biopharmaceutical, data center, semiconductor
and other industries with complex mechanical requirements. For more
information, please visit

About Gemspring Capital

Gemspring Capital, a Westport, Connecticut-based private equity firm
with $355 million of equity capital under management, focuses on making
control and structured equity investments in lower middle market
companies headquartered in the United States and Canada. Gemspring
partners with talented management teams and takes a hands-on approach to
driving revenue growth and value creation. Target companies have up to
$350 million in revenue and are in the business services, healthcare
services, financial services, industrial services, software, or
specialty manufacturing sectors. For more information, please visit