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AEA OET Press Release PDF Print Email
Monday, August 22, 2016 07:36 AM

AEA Investors & River Associates Investments, LLC to Purchase Omega Acquisition Corporation

Private equity investment firm AEA Investors entered into a definitive agreement with River Associates Investments, LLC to purchase Omega Acquisition Corporation (comprised of Omega Environmental Technologies, gpd and Santech) effective August 19, 2016. Peter Butterfield, Chief Executive Officer, said, “We are delighted to have the opportunity to partner with AEA and are grateful for River’s support and guidance over the past several years. Our partnership with AEA will enable our company to continue our growth strategy both domestically and overseas, thanks to their extensive business network and leadership position across multiple sectors. The present management team remains firmly in place, and is further being strengthened by equity investments from numerous members of the Omega team. This new relationship represents a seamless change of ownership, business as usual for our stakeholders, and an exciting step forward for the company and its customers.”

About Omega 

Omega Acquisition Corporation, based in Irving, Texas, is a leading global provider of aftermarket climate control components for a broad range of vehicles, including light vehicles, heavy duty trucks, agricultural/off‐road equipment and specialty markets. With sales to over 86 Countries Omega has established a leading market position by providing a diverse range of customers with an unmatched combination of products and solutions to meet their distinct channel and market requirements. The Company serves as a value‐added partner through an extensive product portfolio (20,000+ active SKUs) and a unique range of value added solutions, including technical support, marketing and merchandising.

About AEA Investors 

AEA Investors LP was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA’s active individual investors (the “Participants”) include an extraordinary network of more than 75 of the world’s leading industrial families, business executives and former government leaders. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $10.0 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer / retail and services.

About River Associates Investments, LLC

River Associates Investments, LLC is a private equity firm based in Chattanooga, TN that focuses exclusively on investing in the lower middlemarket and has partnered closely with management teams for over 25 years. Target businesses can be privately held, private equitybacked, or divestitures from larger companies. River Associates is opportunistic as to industry and has invested in numerous manufacturers, high margin distributors, industrial service, business service, and select nonfaddish retail. The firm is currently investing its sixth committed fund and seeks to make investments in companies with $30 million to $150 million in revenues throughout the United States and Canada. Since its founding in 1989, River Associates has initiated 79 transactions, many of which have been strategic add‐on acquisitions to platform companies. The partners at River Associates have collectively worked together for over one hundred years. Details on the firm can be found at www.riverassociatesllc.com. 

 
TSM Announces Two New Branch Locations in the U.S. PDF Print Email
Monday, August 01, 2016 09:38 AM

TSM  Announces Two New Branch Locations in the U.S.

Nashville, TN - Thermal Solutions announces the opening of two new branch locations in the U.S., Salt Lake City, UT and Orlando, FL. Both open August 1, 2016. Roland Ewert, Director of Sales and Marketing expressed his excitement at the further expansion of the TSM distribution footprint. With the addition of these two new locations we will be better able to service our customers “same day” which until now has been one to two day service.

Additionally, we have loaded each new location with a “market specific” inventory plan. TSM is a market leader in Heavy Duty Cooling products: Cores, Truck Completes, Gen-Set units, Charge Air Coolers, Ag tractors and Automotive and Light truck Radiators and Heaters.

For more information visit www.thermalsolutionsmfg.com

 
Throwback Thursday – Elvis’ 1957 BMW 507 Roadster PDF Print Email
Thursday, July 28, 2016 08:51 AM

Throwback Thursday – Elvis’ 1957 BMW 507 Roadster

PEBBLE BEACH, CA – It was March of 1958 when Elvis Presley first fell in love. The object of his affection, to the dismay of many young ladies, was a 1957 BMW 507 roadster.

Already famous, and serving an obligatory two-year hitch in the Army, Elvis was stationed in Germany when he witnessed hill-climb champion Hans Stuck race a 507 at the Autodrome de Linas-Montlhéry in southern France. "The King of Rock n' Roll" leased that same roadster in December 1958.

The color of the 507 was soon a worry. It was a Feather White when it came into the King's possession, but it was quickly covered in kisses, phone numbers, and messages—often written in red lipstick. Elvis eventually repainted the roadster a flashy red to camouflage the marks and had its 3.2-liter V8 engine rebuilt.

It took Albert Graf Goertz only three sketches to design the lines of the 507 roadster we know and love today. The prototype was first shown at the Frankfurt Motor Show in 1955. It had a top speed of 205 km/h (127 mph) and made a remarkably significant contribution to Bayerische Motoren Werke's image. Of the 254 BMW 507 models that were made, almost all of them still exist today.

Now in the care of BMW Group Classic, the car has received a complete restoration over the course of the past two years. The restored BMW 507 "Elvis Presley" roadster—now back to its original Feather White—is making its public debut at the 2016 Pebble Beach Concours d'Elegance Sunday, on August 21. 

BMW is celebrating its 100th Anniversary this year, and the Pebble Beach Councours d'Elegance will present an exciting array of historic models from pre-WWII classics and race cars, to a pair of the company's much-heralded Art Cars by Alexander Calder and Jeff Koons.

Speaking of shows...  Book your rooms and register for NARSA's big show, the 7th Annual Heavy Duty Heating and Cooling Conference in St. Louis, MO this September! Click here to find more information. 

 
Nominations Now Open for the NARSA Board of Directors PDF Print Email
Thursday, July 14, 2016 02:17 PM

Nominations Now Open for the NARSA Board of Directors

WEXFORD, PA. – Nominations are now open for candidates seeking election to the Board of Directors of NARSA – The International Heat Transfer Association. The Board is responsible for setting policy, reviewing programs, developing projects and approving budgets for sustaining the overall financial health of the organization. The Board provides for the direction of staff and association resources to accomplish the objectives of the organization.

The Board of Directors meets twice year – one meeting at the NARSA convention and AAPEX show in November and the other in the spring. Each board seat carries a two-year term.

The NARSA Board of Directors can consist of a minimum of eight (8), and a maximum of thirteen (13), members.  Board seats are open to all members form all sectors – service/installation; distribution, manufacturing/supply. Nominations will remain open until September 30,2016. Election is by the Board of Directors and the election will be held at its October 30, 2016 meeting.

For additional information contact Nomination Chair Pat O’Connor at pat.oconnor@johnsonmfg.com (716) 881-3030 or Wayne Juchno at NARSA, wjuchno@narsa.org, (724) 799-8415.

 
Compete in the NARSA Sharp Skills 2016 Competition PDF Print Email
Wednesday, July 13, 2016 01:03 PM

Compete in the NARSA Sharp Skills 2016 Competition

Who said learning can’t be fun? The 2016 HD Heating and Cooling Conference will feature a full day of competitive heat transfer activities.  Yes, we did say competitive heat transfer sporting events. You can make this stuff up and you won’t find it on TV, just yet. 

Industry insiders will be lining up on Saturday, Sept. 24 at Affton Radiator in Fenton, MO. for the first ever NARSA radiator skills and knowledge competition. Competitive events include hands-on and knowledge contests.

Contestants will be competing against the clock in three hands-on events: solder-on assembly, bolt-on assembly and hole patching. Knowledge events will require accurate measuring skills to properly spec a core, a fan and a heat exchanger. Prizes and trophies will be awarded to winners.  A champion will be named for the hands-on segment as well as the knowledge segment. An overall “Grand Champion” will receive a specially designed trophy and be entitled to bragging rights as the first NARSA Sharp Skills Champion.

Make your plans today, book your rooms, find airfares and register for the conference and the event.

Solder on Copper Brass Tank Competition will be judged by the amount of time to solder a tank, filler neck and hose connection of an automotive copper brass radiator.Any leaks will disqualify the entry.  Best time wins.

Aluminum Heater Repair Competition will be judged by the amount of time it will take to repair a hole in the tank, a puncture in a tube and a slit in a tube on an aluminum automotive heater core.Unit must withstand one -minute submersion test at 15 PSI. Any leaks and the entry is disqualified.

Bolt On Assembly Competition will be judged by the amount of time it will take to assemble a tank to a modified bolt on (bolt-up) radiator.  Any leaks and the entry is disqualified. Best time wins.

Core, fan and heat exchange measurement events will measure the required physical dimensions in order to have a replacement ordered. No time limit and it will be judged by accuracy of measurements.

Register here.

 
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