CSW Industrials to acquire MARS’ parts division for $650M

Platinum Equity portfolio company Motors & Armatures, or MARS, announced it has signed a definitive agreement to sell its parts division to CSW Industrials (CSW) for $650M in cash, subject to customary closing adjustments. The transaction also includes an earn-out valued at up to $20M based on the achievement of revenue targets in the year after closing. The transaction is expected to close before the end of calendar year 2025, subject to regulatory approval and other conditions. 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 and supplies used for HVAC/R repairs and replacements. MARS anticipates a smooth transition, as MARS Parts and Heat Controller have operated largely independently.