Blackstone and Madison Dearborn Invest in Air Control Concepts
July 15, 2024
Funds managed by Blackstone have made an equity investment in Air Control Concepts alongside existing investor Madison Dearborn Partners and AIR's management team to support the continued growth of AIR's commercial HVAC solutions platform. Headquartered in Norfolk, Virginia, AIR will continue to be led by its existing management team, which retains a meaningful ownership stake; terms were not disclosed.
- Buyers
- Blackstone (funds managed by Blackstone's private equity strategy for individual investors), Madison Dearborn Partners, Air Control Concepts management (co-investment)
- Targets
- Air Control Concepts
- Industry
- HVAC & Mechanical
- Location
- Virginia, United States
- Transaction Type
- Growth capital
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