Ultrasonic monitoring of concentrated suspensions and emulsions is limited in concentration range due to the inaccuracy of the multiple scattering models currently used to interpret measurements. This paper presents the development of a model for the additional multiple scattering caused by mode conversion to/from thermal waves. These effects are believed to cause significant deviation from established models for emulsions at high concentration, or small particle size, at low frequency. The relevant additional scattering coefficients (transition factors) are developed, in numerical and analytical form, together with the modification to the effective wavenumber. Calculations have been carried out for a bromohexadecane-in-water emulsion to demonstrate the frequency-dependence of the scattering coefficients, and the effective speed and attenuation.