Thermal Ventures, Inc. owns and operates through subsidiaries and affiliates central heating and cooling utilities. During 1998, in a previously announced transaction, Source Capital, Ltd. helped the Company negotiate the sale of two of its subsidiaries and to buyout the interests of both its co-founder and an institutional owner. This left the scaled-down Company under the control of the other cofounder in January 1999.

Since then, Source has helped the Company evaluate its recapitalization alternatives, identify and contact a number of financial and strategic investors, and select and complete a transaction with a well capitalized capital partner, which will be able to provide growth capital and board level business development guidance. Source has also made introductions to two strategic partners that will significantly enhance the Company’s growth prospects. As a result of these transactions, the Company is now positioned to be a leading specialty asset manager of central heating and cooling systems.

Since 1982, Source has assisted closely-held companies on matters of wealth planning, growth strategy, company capitalization and operational effectiveness.

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