Private equity firm Resilience Capital Partners has sold Thermal Solutions Manufacturing, a provider of automotive heating and cooling products, to Altus Capital Partners Inc., an investment firm focused on the North American manufacturing sector.
- Resilience acquired the Nashville, Tennessee-based manufacturer and distributor in 2012 through its Resilience Fund III, and now says the business has reached “a natural point to transition ownership.”
- In 2012, Resilience acquired R&D Enterprises as a bolt-on to Thermal Solutions and consolidated the combined facilities down to five manufacturing centers and 25 distribution branches located throughout North America.
Thermal Solutions Manufacturing President and CEO Ken Robinson said, “We not only took our core capabilities and expanded into ancillary and related products for a similar customer base, but we also went through a rigorous process of both consolidating and expanding manufacturing and distribution facilities to reduce costs while improving customer service. We now can deliver a solution to a customer anywhere in the U.S. within 24 to 48 hours, and that is critical when delays because of failed parts can shut down operations.”