MOTORS & ARMATURES TO SELL PARTS DIVISION TO CSW INDUSTRIALS FOR $650 MILLION
Transaction follows significant operational transformation of MARS under Platinum Equity ownership
MARS to continue investing in growth of equipment business
The transaction is expected to close before the end of calendar year 2025, subject to regulatory approval and other conditions.
Headquartered in
The sale does not include the MARS equipment distribution division, which will remain a standalone business in
Since investing in MARS in
- Completing the strategic acquisition of Global, the Source, bringing US-based in-house manufacturing capabilities to MARS and enhancing the combined company's financial profile
- Expanding into new product categories such as pads, pans, equipment hangers, float switches, chemicals, and other accessories
- Driving significant cost savings across procurement, freight, and damage reduction
- Recruiting a world-class management team from a leading
HVAC OEM , led byPhilip Windham as CEO
Windham will continue as CEO of Heat Controller following the sale of MARS Parts. He expressed optimism about the future of both divisions.
"We're proud of the progress we've made and grateful to the talented team in our parts division," said Windham. "We'll be cheering for their continued success as part of the CSW family. At the same time, we're energized by the growth ahead for Heat Controller and excited to build on the momentum we've created."
MARS anticipates a smooth transition, as MARS Parts and Heat Controller have operated largely independently.
"Over the past year and a half, we've partnered with the MARS team to transform the business and create significant value," said Platinum Equity Co-President
"We have an outstanding leadership team that is eager to scale and create additional value," said Platinum Equity Managing Director
About
Founded in 1995 by
Contact:
dwhelan@platinumequity.com
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