NEW YORK – Castle Harlan, Inc., the New York private equity investment firm, announced today that an affiliate of Castle Harlan Partners V has completed the acquisition of IDQ Holdings, Inc., an industry leader in Do-it-Yourself ("DIY"), branded automotive aftermarket products for servicing and repairing automotive air conditioners. The total transaction is valued at approximately $160 million before working capital adjustments.

Castle Harlan said the company will continue to operate under the IDQ name. IDQ products – such as air conditioning recharge and retrofit kits, premium refrigerant blends, specialty chemicals, straight refrigerants and a wide range of complementary DIY and professional-use items – include brand names such as Arctic Freeze, Sub Zero and Super Seal Stop Leak. These products are sold to consumers through a blue-chip customer base representing approximately 25,000 retail stores. These include chains, such as AutoZone, Advance Auto Parts, Wal-Mart, O’Reilly, NAPA, Pep Boys and others. The company also sells a full range of commercial air conditioning products designed for automotive repair shops.

IDQ was sold by Arsenal Capital Partners, a private equity firm based in New York. IDQ is headquartered in Garland, Texas, and has offices in Tarrytown, N.Y. IDQ’s management will continue to operate the company and will be investing in the transaction alongside Castle Harlan Partners V.

IDQ CEO Michael Klein said, "We plan to build on our unparalleled breadth of product offerings and provide our customers, and the market in general, a focus on quality, service and value. We are delighted to be joining Castle Harlan, which has a long history of partnering with management teams to realize shareholder value through superior customer service."