Deal Details

ACS Is Acquired by Gryphon

Industrial

ACS, a portfolio company of L Catterton, sale to Gryphon

Summary

AirX Climate Solutions, Inc. (“ACS” or the “Company”), a portfolio company of L Catterton, recently announced its sale to Gryphon Investors (“Gryphon”). The transaction is subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed.

Baird served as the lead financial advisor to ACS on this transaction.

About

ACS provides highly engineered, specialty cooling and ventilation solutions serving mission-critical applications across a diverse set of end markets, including telecommunications, data centers, energy storage, rental, educational and industrial / commercial markets. For decades, the Company has been the preferred choice for organizations requiring high-quality and highly configurable HVAC systems operating in harsh environments. With over 600 employees, ACS operates its manufacturing footprint across Houston, Texas, Cordele, Georgia, and Tulsa, Oklahoma with brands that include Marvair, Custom Air Products (CAPS), Specific Systems, Eubank, Industrial Climate Engineering (ICE) and Dynaline. ACS is headquartered in Oklahoma City, Oklahoma.

L Catterton is a market-leading, consumer-focused investment firm, managing approximately $34 billion of equity capital and three multi-product platforms: private equity, credit and real estate. Leveraging deep category insight, operational excellence and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world's most iconic consumer brands. L Catterton is headquartered in Greenwich, Connecticut.

Gryphon Investors is a leading middle-market, private equity firm focused on profitably-growing and competitively-advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth and Software sectors. With approximately $9 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with its founders, owners and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s three core investment strategies include its Flagship, Heritage and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $350 million per portfolio company. Gryphon is headquartered in San Francisco, California.

Industrial

ACS, a portfolio company of L Catterton, sale to Gryphon