Bundy Refrigeration, a portfolio company of Sun Capital Partners, has acquired Sparvel, a manufacturer of wire on tube condensers for the North American refrigeration and appliance market.
Sparvel manufactures and sells refrigeration condensers. The company has approximately 400 employees and was founded in 1967. Sparvel is based in Queretaro, Mexico (no website found).
Bundy Refrigeration is a manufacturer and supplier of fluid carrying cooling system components for the domestic refrigeration industry. Bundy’s product line includes evaporators, condensers, and other specialty products such as door warmers, heat exchangers and compressor components. Bundy Refrigeration has manufacturing facilities in Italy, Germany, Hungary, Spain, Denmark, Turkey, Brazil and Colombia and is headquartered in Borghetto di Borbera, Italy (www.bundyrefrigeration.com).
Including Sparvel, Bundy now operates 11 manufacturing units in nine countries and serves almost all major global domestic refrigeration OEMs. The acquisition makes Bundy the only refrigeration components supplier with significant operations in North America, South America and Europe.
“With Sparvel, Bundy establishes a strong presence in North America for steel-related products and expands customer relationships with several blue-chip appliance manufacturers,” said Marc Leder, Co-CEO at Sun Capital Partners. “Additionally, Sparvel has excess manufacturing capacity that Bundy intends to leverage in order to manufacture and distribute a wider range of refrigeration system tubing components globally.”
Sun Capital Partners is a private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 300 companies worldwide with combined sales in excess of $45 billion since Sun Capital’s inception in 1995. The firm has offices in Boca Raton, Los Angeles, and New York as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen (www.SunCapPart.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-28-12
