Platinum Equity To Sell MARS Parts To CSW Industrials For $650 Mln

(RTTNews) - Platinum Equity portfolio company Motors & Armatures, on Wednesday, announced it has signed a definitive agreement to sell its parts division, MARS Parts, to CSW Industrials, Inc. (CSW) for $650 million in cash.

The transaction is expected to close before the end of 2025.

The deal also includes an earn-out of up to $20 million tied to revenue targets in the year after closing.

Headquartered in Hauppauge, New York, MARS is a North American distributor of HVAC/R parts, supplies, and equipment. MARS Parts specializes in motors, capacitors, and other components used in HVAC/R repairs and replacements

The sale does not include the MARS equipment distribution division, which will remain part of Platinum Equity's portfolio and operate under the Heat Controller brand.

The company also recruited a management team led by Philip Windham, who will continue as CEO of Heat Controller following the sale.

CSW Industrials is 2% higher at EUR 204 on the Frankfurt Stock Exchange.