Proliance gets court OK of $21.5 million North American asset sale

By Jennifer Lanning Drey

Portland, Ore., Aug. 13 - Proliance International, Inc. received court approval of the $21.5 million sale of its North American assets to Centrum Equities XV, LLC, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

No other qualified bids were received, according to the filing.

As previously reported, Centrum is a Tennessee-based holding company that includes the Visteon aftermarket business that was spun off as an independent company in February 2008 from Visteon Corp. and sold to Centrum Equities XV.

Wynnchurch Capital, Ltd. is Centrum's financial partner in the Proliance transaction.

Proliance International is a New Haven, Conn.-based manufacturer and distributor of aftermarket heat transfer and temperature control products for automotive and heavy-duty applications. It filed for bankruptcy on July 2. Its Chapter 11 case number is 09-12278.

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