Thermal Solutions Manufacturing, a manufacturer and distributor of heavy duty and light truck heat exchangers and a portfolio company of Resilience Capital Partners, has acquired R&D Enterprises, a manufacturer of heat exchanger and cooling products. This is the first add-on acquisition by the firm’s Thermal Solutions Manufacturing investment platform which it acquired in February 2012.
R&D Enterprises is an original equipment manufacturer of heat exchange and cooling products serving the off-road, marine, on-highway and industrial end markets. The company is based in Plymouth, MI (www.rdent.net).
Thermal Solutions Manufacturing is a manufacturer and distributor of heavy duty and light truck heat exchange and temperature control products for the aftermarket and OEM off-road, on highway and industrial end markets. The company has eight manufacturing facilities and 23 distribution branches located throughout North America supplying radiators, condensers, air coolers and evaporators to multiple customer segments, including installers, commercial distributors, specialty retailers, OEMS and jobbers. The company is based in Nashville, TN (www.thermalsolutionsmfg.com).
“The acquisition of R&D Enterprises fits squarely within our investment thesis of growing the Thermal Solutions Manufacturing platform investment with complementary companies that expand our product offerings and diversify our customer base. R&D Enterprises’ talented management team and strong customer-centric culture should prove to be an invaluable asset as we look to further strengthen our core business and create value through organic profit enhancement initiatives and additional accretive acquisitions,” said Michael Cavanaugh, a Principal at Resilience Capital Partners.
Resilience Capital Partners specializes in investing in lower middle market companies within a range of industries. Resilience’s value oriented investment strategy is to acquire companies in a variety of special situations including underperformers, corporate divestitures, turnarounds, and orphan public companies. Since its inception in 2001, Resilience has acquired 24 companies under 18 platforms with over $2 billion in revenue. The firm is based in Cleveland, OH (www.resiliencecapital.com).
“R&D Enterprises has an outstanding reputation in the industry as creative problem solvers in working with companies of all sizes. The creativity they bring to the table will make Thermal Solutions Manufacturing even stronger and expand its footprint in the marine sector,” said Robert Potokar, CEO of Thermal Solutions Manufacturing and Operating Partner of Resilience Capital Partners, “R&D Enterprises is a perfect match and will benefit our growing company and, more importantly, our customers.”
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-11-12
