A local manufacturer of parts for radiators and cooling systems used in trucks and industrial uses has acquired a Michigan company it expects to open up a new industry.
Thermal Solutions Manufacturing's purchase of R&D Enterprises closed last month and brings the Century City-based company a 58,000-square-foot factory in Plymouth, Mich., on the western edge of Detroit. Co-founder Rick Cox is staying on at TSM, whose CEO Robert Potokar says R&D also lets his team sell products to the boating industry.
"Part of our investment strategy is to acquire companies that allow us to expand our product offerings. With this acquisition, we acquire vast experience in the boating industry along with a talented management team and strong customer service culture," Potokar said. "We think that R&D is a perfect fit with TSM."
TSM, which runs more than two dozen distribution centers in North and Central America, was acquired earlier this year by Ohio private-equity firm Resilience Capital Partners. It had been owned by Vista-Pro, a holding company for various automotive supplier businesses. In a statement, Resilience Principal Michael Cavanaugh said the firm expects to make other "other accretive acquisitions."