Vista Pro Automotive, a portfolio company of Wynnchurch Capital, Summit Strategic Investments, and McLinden Capital, has acquired certain assets of American Condenser & Coil. Financial terms weren’t announced. Gardena, Calif.-based AC&C supplies air conditioning condensers to the North American independent automotive aftermarket. Angle Advisors provided financial advice to AC&C.
Birmingham, Michigan – July 24, 2013 – Angle Advisors is pleased to announce that Vista Pro Automotive LLC (“Vista Pro”), a portfolio company of Wynnchurch Capital (“Wynnchurch”), Summit Strategic Investments (“SSI”), and McLinden Capital, has acquired certain assets of American Condenser & Coil, LLC (“AC&C” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to AC&C in completing this transaction.
Based in Gardena, CA, AC&C is one of the largest suppliers of air conditioning condensers to the North American independent automotive aftermarket with product applications for both light vehicles and heavy duty trucks. With over 2,000 SKUs, the Company serves customers with “wear and tear” replacement components as well as crash replacement components, which include condensers as well as cooling fans.
Alejandro Portugal, Chief Executive Officer of Vista Pro, commented, “this acquisition builds on our goal to expand our heat transfer product offering and to expand our coverage within existing product lines. With the acquisition, we add heavy-duty condensers and radiator cooling fans to our product line, while also significantly expanding our existing AC condenser line. We will also establish a West Coast distribution center that will allow us to continue to grow and service our customer base with these new high quality products.”
Vista Pro is a leading designer, manufacturer and distributor of non-discretionary aftermarket automotive replacement parts including radiators, condensers, heater cores, and air conditioning products. With production facilities in Nuevo Laredo, Mexico, and a primary distribution center in Southaven, MS, Vista Pro is the low-cost manufacturer of aftermarket heat exchange and temperature control products for light vehicles in North America. For additional information, please visit www.vistaproauto.com.
Based in Rosemont, IL, and with offices in Dallas, Detroit and Toronto and an affiliate office in Montreal, Wynnchurch was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle-market companies in the United States and Canada which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with capital under management in excess of $1 billion, specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital. For additional information, please visit www.wynnchurch.com.
Based in Nashville, TN, SSI is a private investment company with diversified holdings in the auto supply and independent aftermarket sectors. SSI provides growth capital and a wide array of operational resources to a variety of investment and portfolio holdings and has been an active investor since 1999.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm’s 33 professionals have completed 89 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.