Centrum acquires North American aftermarket facilities of Visteon

Specific terms of the transaction were not disclosed. The acquisition does not include aftermarket mobile electronics products, which Visteon maintains as part of its electronics group.

“We are pleased to be acquiring this business as part of our growth strategy,” said Terry Howard, Chief Operating Officer of Centrum Equities XV, LLC. Arthur Slaven, co-founder of Centrum Properties, added: “We are excited about this investment and look forward to future growth opportunities across the automotive aftermarket.”

Visteon’s Sparta, Tennessee facility (known as LTD Parts) manufactures starters and alternators for aftermarket customers. The two Reynosa, Mexico facilities manufacture aftermarket climate products ─ including radiators, compressors and condensers ─ and also remanufacture steering pumps and gears.

“This transaction is another step in our plan to restructure, improve and grow our business by focusing on strategic product lines, including advanced climate, interiors and electronics products,” said Donald J. Stebbins, Visteon President and Chief Operating Officer.

Centrum Properties is a Builder 100 Company and has been creating innovative residential and commercial spaces nationwide since 1980. The firm is based in Chicago with ongoing real estate developments spearheaded by free-standing offices in Chicago, Nashville and Miami.

Centrum Equities is a leading private equity firm specializing in turn-around investments in North America and Western Europe. Founded in 1999 and based in Nashville, Tennessee, Centrum Equities’ strategy is to invest substantial amounts of capital behind strong management teams and provide long-term and active board-level assistance to those teams to help them create and realize value.