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