Resilience Capital Partners, a Cleveland-based private equity fund, announced Thursday that it has acquired the heavy duty division of Vista Pro Automotive through its newly-formed entity, Thermal Solutions Manufacturing. Terms of the deal were not released. Thermal Solutions is based in Nashville, Tenn.
PRESS RELEASE
Resilience Capital Partners, a Cleveland-based private equity fund, has announced the acquisition of the Heavy Duty Division of Vista Pro Automotive through its newly-formed entity, Thermal Solutions Manufacturing.
Michael Barbee, the President of Thermal Solutions Manufacturing, stated, “We are excited that Resilience Capital has acquired the Heavy Duty Division of Vista Pro Automotive. Leveraging Resilience Capital’s strong financial commitment and exceptional operational expertise, we will rapidly achieve our goal of becoming the undisputed leader of the heavy duty heat exchange industry through a combination of market share gains, new product introductions and strategic acquisitions.”
“We look forward to partnering with the management and employees of Thermal Solutions Manufacturing in creating an independent enterprise that is uniquely positioned for growth in its market place. Thermal Solutions Manufacturing will be led by Bob Potokar as CEO (Operating Partner of Resilience) and Mike Barbee as President. This extremely qualified leadership team is a testament to the tremendous opportunity that we have with this business,” said Bassem Mansour, Co-CEO and Founder of Resilience Capital Partners. Michael Cavanaugh, a Principal at Resilience Capital Partners, added, “With its unparalleled distribution network and broad product portfolio, Thermal Solutions Manufacturing is a compelling platform investment with significant organic and inorganic growth opportunities that can be capitalized on to create long-term investment value for our investors.”
About Resilience Capital Partners
Headquartered in Cleveland, Ohio, Resilience Capital Partners is a leading private equity firm with a team of in-house operating experts that bring large company resources to the lower middle market. Founded in 2001, Resilience Capital’s value-oriented investment strategy focuses on acquiring companies experiencing a variety of special situations within a broad range of industries. Since its inception, Resilience Capital has invested in 23 companies under 17 platforms, together representing over $2 billion in revenues and over 5,000 employees. Resilience Capital manages multiple private equity funds with capital under management in excess of $300 million. For more information, please visit www.resiliencecapital.com .
About Thermal Solutions Manufacturing
Headquartered in Nashville, Tennessee, Thermal Solutions Manufacturing is a market leading manufacturer and distributor of aftermarket and original equipment heavy duty and light truck heat exchange and temperature control products for the off-road, on-highway and industrial end markets. Thermal Solutions Manufacturing currently has nine manufacturing facilities and twenty-three distribution branches located throughout North America, including its MexPar manufacturing operations in Mexico City, Mexico.
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