Gentherm (NASDAQ-GS:THRM), the global market leader and developer of innovative thermal management technologies, announced today that, effective April 1, 2016, it will acquire Cincinnati Sub-Zero Products (CSZ). Based in Cincinnati, Ohio, CSZ manufactures both high quality patient temperature systems for the health care industry and custom environmental test chambers used by a wide range of industrial manufacturing companies for product testing. CSZ also provides related environmental testing services to these markets. CSZ’s 2015 revenues were approximately $63 million.
“We are very happy to welcome the CSZ team to the Gentherm family,” said Gentherm President and CEO Daniel R. Coker. “CSZ’s respected market reputation, established product portfolio and customer base, combined with our market-leading thermal management solutions and expertise, create a strong platform for growth in the medical and industrial test equipment markets, which are new for Gentherm.”
“We are very excited to be a part of the Gentherm team,” said Steven J. Berke, President of CSZ. Gentherm’s broader scope and scale, as a global company, will provide CSZ much greater reach in serving its existing and potential markets.”
CSZ is a recognized market leader of temperature management solutions with over 75 years of industry experience. Operating in three distinct divisions of Medical, Industrial and Testing, CSZ offer s a large portfolio of temperature management products to the markets they serve.
CSZ will be operated as a subsidiary of Gentherm, with its headquarters in Cincinnati, Ohio and operations in Ohio and Michigan. CSZ will continue to be led by Mr. Berke and CSZ’s current management team.