Capstone Partners advised Air Innovations, LLC—a manufacturer of environmental control units—on its sale to Altus Capital Partners.
Headquartered in North Syracuse, NY, Air Innovations’ environmental control units (ECUs) are used in high-cost-of-failure applications such as sterile storage cabinets in hospitals, clean room semiconductor lithography equipment, and payload protection for spacecrafts. Their Wine Guardian brand offers a wide variety of ECUs for use in homes, restaurants, and wine storage facilities that require commercial-grade temperature and humidity control. Air Innovations has a proven track record of commercializing its proprietary and customized systems to offer solutions to meet each individual customer’s specific needs. Air Innovations’ experienced management team will remain unchanged. For more information on Air Innovations, please click here.
We are very appreciative of the hard work performed by Capstone Partners. They were instrumental in advising us through the whole acquisition process that ultimately led us to the team at Altus. With Capstone as a partner, we could stay focused on operating and growing the business.
Wetzel continued with, “We are excited to begin the next phase of our growth with Altus Capital Partners. Having a partner with their focus, scope, discipline, and ability will propel our business forward from the strong foundation we’ve created to this point.”
“The technical competences of the team at Air Innovations are unrivaled. We think their future is bright as the never-ending increases in the sophistication of industrial equipment are significantly expanding their addressable market. We were honored to work with the Wetzel family and to help position the business for its next stages of growth,” stated Ted Polk, Managing Director at Capstone Partners.
Heidi Goldstein, Partner of Altus Capital Partners, commented, “Altus looks forward to our partnership with Air Innovations to support its growth plans. As a global designer and manufacturer of mission-critical environmental control units, we are excited to work alongside Air Innovations’ management team to grow and continue to strengthen the company’s industry position and end-market diversification.”
Altus Capital Partners is a private equity firm that makes control investments in middle market niche-manufacturing businesses. Their exclusive focus on manufacturing provides a unique understanding of the opportunities and challenges faced by companies in the sector. They utilize a patient, thoughtful investment approach and seek to partner with the management teams to achieve growth. For more information, please click here.
The expert investment banking professionals on Capstone Partners’ Industrials Team work with leading middle market companies operating in the HVAC market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our HVAC Banking Team, contact us here.
