Ontario, California – Thermal Dynamics International, a supplier of heat exchangers for the automotive, heavy truck, and off-highway industries, has been acquired by Zhejiang Yinlun Machinery Co. Ltd. of Tiantai, Zhejiang, China.
Thermal Dynamics manufactures water- and air-cooled heat exchangers, aluminum radiators, and charge air coolers as well as stainless steel integral and remote coolers. It will continue operation as a wholly-owned subsidiary of YLSQ Holdings Inc. in Delaware.
Previously owned by Evergreen Pacific Partners in Seattle, Washington, Thermal Dynamics has its headquarters and a manufacturing facility in Ontario, California, as well as three joint-venture production relationships in China. It also has sales and application engineering centers in Farmington Hills, Michigan, and Mooresville, North Carolina. It has about 100 employees.
Thermal Dynamics’ customers include Allison Transmission, Daimler Truck North America, Ford, FCA, Harley-Davidson, Oshkosh, PACCAR, and Polaris, as well as auto suppliers such as Faurecia and Valeo.
Yinlun Board Chairman Xu Xiaomin notes that the acquisition is designed to expand Yinlun’s footprint in North America, speed global product development efforts, and strengthen relationships with major customers in the NAFTA region.
“Thermal Dynamics is a recognized leader in the development and manufacture of innovative heat-exchange systems and components,” Xiaomin explains. “Yinlun already has a strong customer base with Caterpillar, Cummins Engine, Ford, and John Deere in the U.S., and this acquisition also will allow us to build off of Thermal Dynamics’ diverse automotive, heavy-truck, and off-highway customer base. In addition, the company also serves industries new to Yinlun such as high-performance and small-engine manufacturers.”
Dean Arneson, president and CEO of Thermal Dynamics, will continue in a similar position with the new Yinlun subsidiary.
“Combining our resources with Yinlun will create tremendous growth opportunities benefiting both companies in the future,” Arneson says.
Zhejiang Yinlun Machinery Co. Ltd. invested $56.65 million to acquire Thermal Dynamics International, which posted sales of $49.5 million in 2015.
Source: Thermal Dynamics International