Lionheart Ventures Purchases M.P. Pumps Operation from Tecumseh Products Company

Philadelphia, PA -- MP Pumps Acquisition Corp., an indirect subsidiary of Lionheart Ventures today announced that it has completed the purchase of M. P. Pumps, the centrifugal pumps business operations of Tecumseh Products Company (Nasdaq:TECUA) (Nasdaq:TECUB) effective June 30. The transaction included M. P. Pumps' manufacturing facility in Fraser, Michigan.

"This sale of a solid, but non-strategic, operation is another milestone in our effort to focus on our core brand and product strengths in the refrigeration/freezer and commercial/distribution markets worldwide," said Ed Buker, Tecumseh Products President and CEO.

“We are excited to complete the acquisition of our third platform company and enter the global pumps industry. MP Pumps, Inc. has a dynamic leadership team driving the company and we look forward to supporting their strategic plans for continued growth,” said David Bovenizer, Lionheart Ventures Founder and CEO.

About Lionheart Ventures
Lionheart Ventures is a Philadelphia, PA based private equity group with the mission of creating strategic and operational value for manufacturing businesses.

About Tecumseh Products Company
Tecumseh Products Company is a full-line independent global manufacturer of hermetically sealed compressors for residential and commercial refrigerators, freezers, water coolers, dehumidifiers, window air conditioning units and residential and commercial central system air conditioners and heat pumps.