Deal Details

ACS Acquires AboveAir

Industrial

ACS, a portfolio company of Gryphon, acquisition of AboveAir

Summary

AirX Climate Solutions, Inc. (“ACS” or the “Company”), a portfolio company of Gryphon Investors (“Gryphon”), has acquired AboveAir Technologies, LLC. (“AboveAir”). Terms of the transaction were not disclosed.

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

About

ACS is a leading full-service, specialty HVAC solutions provider. ACS products are highly engineered to operate in mission-critical and harsh environments. The Company offers design, manufacturing, startup, commissioning, repair and maintenance of heating, ventilation and air conditioning systems for specialized solutions across a diverse set of end markets, including data centers, energy storage, telecommunications, rental, educational, industrial and commercial markets. ACS prides itself on delivering best-in-class service through its highly trained team and engineering capabilities. Founded in 1997, ACS has ~550 employees and is headquartered in Oklahoma City, Oklahoma.

Gryphon 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.

AboveAir is a leading original equipment manufacturer (OEM) of computer room air conditioners. AboveAir products are designed to provide precision space temperature and humidity control for today's most critical Tenant, Enterprise and Hyperscale/Colocation applications serving industries including financial institutions, US government agencies and other commercial markets. AboveAir offers the widest range of unit sizes, configurations and cooling methods in the industry. With its highly skilled factory workforce and engineering talent, AboveAir will design and manufacture to exact customer specifications when needed. AboveAir markets its products through its exclusive network of independent Manufacturer's Representatives throughout North and Latin America. Founded in 2003, AboveAir has ~ 75 employees and is headquartered in Frederick, Maryland.

Industrial

ACS, a portfolio company of Gryphon, acquisition of AboveAir