Bundy Refrigeration, a company backed by Sun Capital Partners, has acquired Sparvel S. de R.L. de C.V. The company is a maker of condensers for the North American refrigeration and appliance market. Terms of the transaction were not disclosed.
Sun Capital Partners, Inc. (“Sun Capital” or “Sun Capital Partners”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies that can benefit from its in-house operating professionals and experience, today announced that its affiliated portfolio company Bundy Refrigeration has acquired Sparvel S. de R.L. de C.V (“Sparvel” or the “Company”). Sparvel is the largest manufacturer of “Wire on Tube” (“WoT”) condensers for the North American refrigeration and appliance market. Terms of the transaction were not disclosed.
The acquisition makes Bundy – a manufacturer and supplier of fluid carrying cooling system components – the only refrigeration components supplier with significant operations in North America, South America and Europe. Headquartered in Queretaro, Mexico, Sparvel operates in the same space as Bundy, which is based in Borghetto di Borbera, Italy.
The combined companies will attain manufacturing and purchasing synergies through expertise and scale. Including Sparvel, Bundy now operates 11 manufacturing units in nine countries and serves almost all major global domestic refrigeration OEMs.
“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 to manufacture and distribute a wider range of refrigeration system tubing components globally.”
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in more than 300 companies worldwide with combined sales in excess of $45 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.
About Bundy Refrigeration
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 a host of specialty products such as door warmers, heat exchangers and compressor components. With headquarters in Borghetto di Borbera, Italy, Bundy Refrigeration has manufacturing facilities in Italy, Germany, Hungary, Spain, Denmark, Turkey, Brazil and Colombia.