Capstone Partners Advises Airtec Products Corporation on Sale to The RectorSeal Corporation
Philadelphia, PA – Capstone Partners LLC, a leading national investment banking firm, announced that it has successfully advised Airtec Products Corporation on its acquisition by The RectorSeal Corporation, a subsidiary of publicly traded Capital Southwest Corporation. The terms of this transaction were not disclosed.
Airtec Products is a leading manufacturer and marketer of HVAC specialty products for minisplit and central air conditioning systems. The Company’s comprehensive line of products includes air diffusion, condensate management, lineset ducting, minisplit pumps and accessories, and equipment support systems. “We have long admired RectorSeal’s position in the marketplace and management is pleased that this partnership will allow Airtec to continue to grow and reinforce its standing as an industry innovator,” commented Airtec President Mike Moore. Along with co-owners Scott Barboza and Gerald Spanger, Mr. Moore will remain active in managing the business post-acquisition. Additional information about Airtec Products Corporation can be found atwww.airtecproducts.com.
“Airtec has an outstanding reputation for innovation and quality,” said David Smith, President of The RectorSeal Corporation. “We are very pleased to add Airtec’s highly complementary best of breed product line to RectorSeal.” Founded in 1937, The RectorSeal Corporation is a leading manufacturer of chemical and specialty products designed for professional tradesmen. With a diversified business strategy, RectorSeal aggressively pursues new and unique technologies to serve the construction, plumbing, HVAC and electrical industries. Additional information about The RectorSeal Corporation can be found at www.rectorseal.com.
The Capstone M&A team of Eric Williams, Managing Director, and Mark Surowiak, Director (both based in Philadelphia, PA), managed the transaction on behalf of Airtec. “The HVAC industry continues to experience M&A activity as companies like RectorSeal look for specialty product add-ons in higher growth areas, such as the minisplit market. Airtec, with its technical capabilities and exemplary customer service, was an attractive addition, as the U.S. migrates to minisplit technology,” said Eric Williams. Added Mark Surowiak, “Both companies stand to benefit from this transaction. Backed by a partner like RectorSeal, Airtec will be in a better position to capitalize on the growing awareness among residential and commercial contractors regarding the inherent advantages that minisplits offer in terms of energy efficiency and enhanced temperature control versus conventional systems.”