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Global, Industrials | Mergers & Acquisitions, Restructurings

Proliance Completes Bankruptcy Sale

  • Proliance International Inc., a manufacturer and distributor of aftermarket heat transfer products, and certain of its U.S. subsidiaries filed voluntary bankruptcy petitions in July 2009
  • Proliance retained TM Capital and its M&A International partner Holland Corporate Finance to sell its European subsidiary Nederlandse Radiateuren Fabriek B.V. (NRF)
  • NRF is a leading pan European manufacturer and distributor of customized OEM and aftermarket heat transfer products
  • Proliance had entered into a “stalking horse” agreement to sell NRF to Mentha Capital, a private equity firm focused on the Benelux region
  • Banco Products India Ltd. (BSE:500039), a leading provider of cooling components and gaskets to the automotive industry, acquired NRF following a bankruptcy auction

has sold its European subsidiary

pursuant to Section 363 of the Bankruptcy Code to

Proliance Completes Bankruptcy Sale

TM Capital assisted Proliance International Inc. in the sale of its European subsidiary, NRF, pursuant to section 363 of the bankruptcy code to Banco Products India Ltd.

Details

For more information, contact our industrials team at:

industrials@tmcapital.com