Thermon Group Holdings, Inc. (NYSE:THR) is looking for M&A opportunities. During First Quarter 2024 Earnings Conference Call Bruce Thames President and Chief Executive Officer said, "Finally, our commitment to a disciplined capital allocation strategy underpins our first 2 strategic pillars. Our robust balance sheet enables us to drive organic growth through reinvestment in our business to meet our fiscal 2026 goals.

We're also well positioned to pursue inorganic growth through highly-strategic bolt-on acquisitions that meet our financial objectives". "We'll continue to evaluate this outlook as we progress through our fiscal year. We expect to continue to generate significant [ free ] cash flow through the year to maintain a strong balance sheet, giving us the flexibility to reinvest in our business and evaluate bolt-on M&A opportunities.

We also pursue inorganic growth by continually evaluating M&A opportunities. Our focus is on bolt-on acquisitions that meet our strategic and financial criteria, and we have a healthy pipeline of opportunities. Finally, we continue to evaluate opportunities to return capital to our shareholders when appropriate".