Press Release

Deal announcement—AlixPartners advises Cartesian Capital and Arlington Management on acquisition and financing of the thermal management division of Arlington

March 3, 2021

LONDON (March 3, 2021)—AlixPartners, the global consulting firm, has advised the management team of Arlington Industries Group Ltd (‘Arlington’) and Cartesian Capital Group LLC (‘Cartesian Capital’), the global private equity firm, on their acquisition and financing of Arlington’s thermal management divisions. These businesses were acquired through two separate acquisition processes in the UK and Germany. The divisions are relaunching under the new company name, Thermal Management Solutions Group. The transaction closed on 26 February 2021.

This highly complex transaction in the automotive sector will enable Thermal Management Solutions Group (‘Thermal Management Solutions’), which specializes in the development and manufacturing of thermostats for the automotive sector, to take advantage of the development of electric vehicles, fuel-cell vehicles, hybrids and the ongoing refinement of internal combustion engine. The transaction will see Thermal Management Solutions employ more than 800 people across Brazil, China, Germany, France, the UK and the US. The company is forecast to reach total revenue of c.£150 million for the current financial year.

The AlixPartners team, which was based across the UK and Germany, was led by Managing Director Graeme Smith, and by Azeem Ahmed, Ian Darke, and Heiko Logisch.


AlixPartners is a results-driven global consulting firm that specialises in helping businesses successfully address their most complex and critical challenges. Our clients include companies, corporate boards, law firms, investment banks, private equity firms, and others. Founded in 1981, AlixPartners is headquartered in New York, and has offices in more than 20 cities around the world. For more information, visit

This deal was led by:

For more information, contact:

Pippa Miller-Jennings

Senior Vice President, London