Wynnchurch Capital

BUSINESS: Vista-Pro Automotive is a leading designer, manufacturer and distributor of non-discretionary aftermarket automotive replacement parts including radiators, condensers, heater cores, remanufactured starters and alternators, hydraulic steering systems, rack and pinion systems and power steering pumps, and air conditioning products.

TRANSACTION: Wynnchurch formed Vista Automotive LLC ("Vista") to acquire manufacturers of non-discretionary aftermarket automotive replacement parts. The first acquisition by Vista was Centrum Equities, XV ("Centrum"). This transaction closed in July 2009. The second acquisition by Vista Automotive was select North American assets and operations of Proliance International Inc. ("Proliance") which was acquired through a 363 process. Vista was selected as the stalking horse bidder in a limited sale process and the transaction closed in August 2009. The two combined companies are now called Vista-Pro Automotive and are headquartered in Nashville, TN.

BACKGROUND: Centrum was a leading designer, manufacturer and distributor of aftermarket climate control products including radiators, condensers and air conditioning products based in Sparta, TN. Centrum was a holding company for select aftermarket assets of Visteon Corporation previously acquired from Visteon in 2008.

Proliance International was a New Haven, CT based global manufacturer and distributor of radiators, heater cores and other temperature control products for the automotive and heavy truck aftermarket industries. Proliance was formed in 2005 as a result of a merger between Transpro, Inc. and Modine Aftermarket Holdings.

OPPORTUNITY: While Centrum and Proliance have historically been direct competitors, combining the two entities represented an opportunity to form the leading North American supplier of aftermarket radiators and heater cores with the lowest cost manufacturing, highest quality and service levels, and the largest, most diversified customer base.

STRATEGY: Vista-Pro's strategy is to acquire and integrate non-discretionary automotive aftermarket parts suppliers to assemble the leading company in North America providing its customers the lowest cost and highest level of service and quality. Vista-Pro will focus on aftermarket components that it manufacture or remanufacture in its own North American facilities thereby optimizing lead times, cost, quality and service levels.