8/31/2009
Visteon Aftermarket and Proliance International Combine to Form Vista-Pro Automotive
Vista-Pro Automotive will operate from its headquarters in Nashville, TN, with a support office in New Haven, CT, and distribution centers in Sparta, TN, Reno, Nev., and Southaven, MS.
Centrum
Equities XV, a holding company that had previously acquired select
aftermarket assets of Visteon Corp. in 2008, has acquired substantially
all of the North American assets and operations of Proliance
International and renamed the combined operations Vista-Pro Automotive.
Vista-Pro combines Centrum, a leading North American designer,
manufacturer and distributor of aftermarket climate control products
such as radiators, condensers and air conditioning products,
remanufactured starters and alternators, hydraulic steering systems,
rack and pinion systems and power steering pumps, with the North
American operations of Proliance, a leading manufacturer and
distributor of aftermarket heat transfer and temperature control
products for automotive and heavy-duty applications.
Vista-Pro’s product offering and family of brands will include
Proliance’s well-known, patented products including: Ready-Rad
radiators, Ready-Aire condensers and Ready-Aire heater cores.
Vista-Pro’s full product line will be manufactured in two world-class
facilities in North America, which the company says will ensure rapid
response to customer demand, fast delivery times and a higher quality
product. Vista-Pro Automotive’s North American manufacturing facilities
will increase the reliability and quality of its offerings through
integrated engineering, distribution and manufacturing, and enhanced
manufacturing capabilities.
Equity funding for the formation of Vista-Pro and the acquisition of
the assets of Proliance was provided by Wynnchurch Capital, a
Chicago-based private-equity firm, Roger Brown, the CEO of Vista-Pro,
and John McClinden, a Chicago-based investor. Debt financing was
provided by The PrivateBank.
“Our entire team is extremely excited about the creation of this new
company, which will provide OE-quality and best-in-class product
support and service to our customers,” said CEO Brown. “By joining
forces as one, Vista-Pro Automotive will become a market leader in
product offerings, reliability, response and technical and product
support. We took the Vista from Visteon Aftermarket and the Pro from
Proliance and created Vista-Pro Automotive. It represents a combination
of the best of both companies to provide world class value to our
customers.”
Terry Theodore, partner for Wynnchurch Capital, added, “The synergies
generated by the formation of the new company will provide significant
opportunity for growth, the introduction of new products and a platform
for providing exemplary service to Vista-Pro’s customers. We are
confident that Vista-Pro will establish a new level of service and
support for its customers. We’re pleased to be part of this alliance.”
Vista-Pro Automotive will operate from its headquarters in Nashville,
Tenn., with a support office in New Haven, Conn., and distribution
centers in Sparta, Tenn., Reno, Nev., and Southaven, Miss.