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Thermal Solutions Manufacturing, Inc.

TSM Logo

Manufacturer and distributor of heavy duty, light truck heat exchange and temperature control products for aftermarket and OEM.

thermalsolutionsmfg.com

Deal Team

Erin L. Murphy

Business

Thermal Solutions Manufacturing, Inc. (“TSM”), headquartered in Nashville, Tennessee, is a leading manufacturer and distributor of heavy duty and light truck heat exchange and temperature control products for the aftermarket and OEM off-road, on highway and industrial end markets.  TSM operates through manufacturing facilities distribution branches located throughout North America supplying radiators, condensers, air coolers and evaporators to multiple customer segments, including installers, commercial distributors, specialty retailers, OEMS and jobbers. For more information, please visit: http://www.thermalsolutionsmfg.com.

Transaction

In February, 2012, simultaneously with the sale of the heavy duty division of Vista Pro Automotive, LLC (“HD”), Wynnchurch partnered with Resilience Capital and made a $3.25 million common and preferred equity investment in TSM Holdings, Inc., the holding company of Thermal Solutions Manufacturing, Inc.  In August 2012, TSM acquired R&D Enterprises, a niche manufacturer of marine OEM heat exchange products and low volume production of off-highway heat exchange products.  R&D complements TSM’s existing capabilities, diversified product offerings and expanded sales channels into OEM customers and marine end markets.  As part of the transaction, Wynnchurch invested an additional $0.6 million into TSM.

Opportunity

Thermal Solutions Manufacturing, Inc. was an opportunity for Wynnchurch to invest in a market-leading supplier with a national reach and an ability to provide customized and standard solutions to customers needing a fast response time to keep their equipment running. The company is well-positioned to benefit from a recovery in the commercial truck market and opportunistic add-on investments in complimentary businesses.

Strategy

Wynnchurch is continuing to work with management and Resilience Capital to invest in new products and capabilities that will allow TSM to grow their leading market position through expanded wallet share with existing customers as well as new customers and expanded coverage of end markets. TSM continues to identify and pursue organic growth initiatives and potential add-on investments.

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