CLEVELAND, March 4, 2019Resilience Capital Partners, a private equity firm that invests in middle-market companies, announced it has completed the sale of its portfolio company Thermal Solutions Manufacturing to Altus Capital Partners, Inc., an investment firm focused on the North American manufacturing sector.

Nashville, Tennessee-headquartered Thermal Solutions Manufacturing is a leading manufacturer and distributor of heavy-duty and light-truck heat exchange and temperature control products including radiators, condensers, air coolers and evaporators. Resilience Capital Partners acquired the company, formerly the Heavy Duty Division of Vista Pro Automotive, in 2012 through The Resilience Fund III.

“At Thermal Solutions Manufacturing, we executed a long-term strategy for the business to become a dominant player in the after-market for heat exchange and related products,” said Bassem A. Mansour, co-chief executive officer of Resilience Capital Partners. “We enhanced it from a heavy-duty manufacturer of radiators into a company that develops and distributes a broad range of solutions in the heat exchange world.”

The process of transformation included the add-on acquisition in 2012 of R&D Enterprises as well as the consolidation of numerous facilities. Including the former R&D Enterprises facilities, Thermal Solutions Manufacturing now has five manufacturing centers and 25 distribution branches located throughout North America.

“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,” said Ken Robinson, president and chief executive officer of Thermal Solutions Manufacturing. “We now can deliver a solution to a customer anywhere in the US within 24 to 48 hours, and that is critical when delays, because of failed parts, can shut down operations.”

Thermal Solutions Manufacturing is now at a natural point to transition ownership, said Mansour. “Our job is to take a company, reposition it, improve its operations and get it to an attractive level of profitability. We have done that, and the next phase for Thermal Solutions Manufacturing is to build for long-term, continued growth. We are confident that, under its new ownership, Thermal Solutions Manufacturing will continue to deliver on the promise we saw when we acquired it seven years ago.”
Terms of the transaction were not disclosed.

About Thermal Solutions Manufacturing

Thermal Solutions Manufacturing manufactures and distributes heavy-duty and light-truck heat exchange and temperature control products for the aftermarket and OEM off-road, on-highway and industrial end markets. The company has five manufacturing facilities and 25 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

About Resilience Capital Partners

Headquartered in Cleveland, Ohio, Resilience invests in niche-oriented manufacturing, value added distribution and business service companies with sustainable market positions and a clear path to cash flow improvement. Resilience targets platform businesses with $25 million to $250 million in revenues across a broad range of industries where it can improve a company’s operations, competitive positioning and profitability. Resilience manages in excess of $685 million for its global investor base which includes pension funds, insurance companies, foundations and endowments, fund of funds and family offices. For more information, please visit

Bassem Mansour – Co-CEO
William Tobin – Principal
Resilience Capital Partners

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