Private equity firm Pacific Avenue Capital Partners has completed the acquisition of Therm-All from Incline Equity Partners. The deal, which also involves Cameron Ashley Building Products, positions Therm-All to enhance its operations in the metal building insulation sector.
Founded in 1981 and headquartered in Westlake, Ohio, Therm-All specializes in the fabrication and distribution of insulation systems for commercial and industrial applications. The company’s offerings include custom fiberglass and rigid insulation systems, reflective insulation, door and window systems, and various metal building accessories. With a presence in 13 locations across the United States, Therm-All aims to strengthen its customer relationships and drive growth initiatives under the new ownership.
Dennis Kaczmarek, chief executive officer of Therm-All, expressed optimism about the partnership, stating, “We look forward to partnering with Pacific Avenue to drive the next phase of Therm-All’s growth. We believe Pacific will be a great partner given their depth of experience in the building products industry and their emphasis on supporting customer-first initiatives.”
Pacific Avenue Capital Partners, which manages approximately $3.8 billion in assets as of September 30, 2025, specializes in corporate divestitures in the middle market. The firm is focused on collaborating with robust businesses to maximize their potential. Chris Sznewajs, founder and managing partner of Pacific Avenue, highlighted the investment’s strategic significance, remarking, “This investment reflects our focus on partnering with strong businesses to help them reach their full potential. I am confident that, in conjunction with Cameron Ashley, by working closely with the management team, we can drive long-term value.”
Cameron Ashley Building Products operates as an omni-channel distributor of interior and exterior building products, serving over 10,000 customer locations in the United States. Their product range includes insulation, roofing, siding, gypsum, and other specialty building materials. The collaboration between Pacific Avenue, Cameron Ashley, and Therm-All is expected to leverage their respective strengths in the building products market.
The acquisition marks a significant move for Pacific Avenue as it seeks to expand its portfolio and enhance its capabilities in the building materials industry. With a focus on customer engagement and innovation, the new leadership aims to propel Therm-All into its next phase of growth, responding to the evolving needs of its customer base.
