Equity firm acquires Visteon’s aftermarket and hard parts business

Centrum Equities XV, LLC has finalized an agreement to purchase the assets of the aftermarket hard parts business of Visteon Corporation. Terms of the transaction were not disclosed. The sale, which went into effect Feb. 1, 2008, covers Visteon’s complete line of replacement hard parts, including original equipment- quality radiators, condensers, compressors (FS-10 & Scroll), and ignition coils, as well as remanufactured rotating electrical and steering products. Centrum will continue to operate under the Visteon Aftermarket brand, supplying OE-quality products to the traditional aftermarket and original equipment channels. The new company maintains proprietary distribution rights in the United States, Canada, Mexico, South America, and throughout the Caribbean region.

“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, added: “We are excited about this investment and look forward to future growth opportunities across the automotive aftermarket as we leverage the value of OE-quality replacement parts, exceptional order fill and support, and a well-established and respected brand.”