19 February 2020

Miller Johnson Represents Altus Capital Partners in Thermal Solutions Manufacturing’s Acquisition of Alfa Laval Champ

The Transaction
Thermal Solutions Manufacturing (TSM), a portfolio company of Altus Capital Partners III, L.P. (Altus) and leading supplier of heat exchange and thermal management products, acquired the stand-alone Champ products business unit (Champ) from Alfa Laval, a global leader in heat transfer, separation and fluid handling technologies.

Champ, which is based in Florida, is a specialty provider of shell-and-tube heat exchangers, charge air coolers, and related products to the marine and industrial markets. The acquisition, which is TSM’s first under Altus’ ownership, adds production capacity, engineering support, product breadth and operations leadership expertise to TSM’s existing capabilities.

Tom Groh, Partner at Altus, commented, “The acquisition of Champ is an important step forward in executing TSM’s growth plans and we are optimistic about the future of the combined entity.”

Miller Johnson acted as legal advisor to Altus and TSM in the transaction. Miller Johnson’s team was led by Jordan Schwartz and Dustin Daniels with assistance from Chelsea Austin (Corporate; M&A) and Neil Williams (Tax). David Hall and Loic Dimithe led the financing.

Altus Capital Partners
( Altus is a private equity firm with offices in Connecticut and Illinois that makes controlling investments in middle market manufacturing businesses. Altus invests alongside management teams in profitable small to medium-sized manufacturing companies domiciled in the U.S. that have proprietary technologies, processes, and products.

Thermal Solutions Manufacturing, Inc.
( TSM 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. TSM is based in Nashville, TN and operates through manufacturing facilities and distribution outlets located throughout North America supplying radiators, condensers, air coolers and evaporators to multiple customer segments, including installers, commercial distributors, specialty retailers, OEMS and jobbers.

Miller Johnson’s Mergers and Acquisitions Group
Miller Johnson’s M&A practice group collaborates with clients and their advisors to structure, negotiate and close deals and to navigate the various challenges that can arise in the context of mergers, acquisitions, dispositions and other business combination or investment transactions.

Miller Johnson is top listed for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked by Chambers USA. At The M&A Advisor’s national awards and the ACG M&A Deals and Dealmakers regional awards, our attorneys are consistently involved in deals honored as winners and finalists.  For further information, please contact Dustin Daniels at (616) 831-1737 or Jordan Schwartz at (616) 831-1719.