AirX Climate Solutions Acquires Powrmatic USA

AirX Climate Solutions Acquires AboveAir Technologies

July 8, 2024

HVAC & Mechanical

AirX Climate Solutions, a Gryphon Investors-backed platform, has acquired AboveAir Technologies, a Frederick, Maryland-based OEM of precision cooling solutions for data centers. AboveAir will operate as a new division of ACS with founder Matt Miller named President of the AboveAir division and becoming a shareholder; ACS will invest in manufacturing capacity at AboveAir's 100,000-square-foot facility and expand its Mid-Atlantic footprint.

Gryphon Investors Acquires AirX Climate Solutions from L Catterton

September 27, 2023

Industrial Services

Gryphon Investors has agreed to acquire AirX Climate Solutions (ACS), a specialty HVAC designer, manufacturer, distributor, and servicer headquartered in Oklahoma City, from private equity firm L Catterton. Gryphon will partner with ACS management, who are reinvesting, to expand geographic footprint, grow aftermarket and service offerings, and pursue add-on acquisitions; the deal is expected to close in Q4 2023 and financial terms were not disclosed.

Air Conditioning Specialist (ACS) Makes Investments in P-F Plumbing and Precision Air

January 18, 2023

HVAC & Mechanical

Air Conditioning Specialist, Inc. (ACS), a portfolio company of Hidden Harbor Capital Partners, announced investments in P-F Plumbing Contractors, Inc. (Winston-Salem, NC) and Precision Air, Inc. (Murfreesboro, TN). The transactions expand ACS's plumbing capabilities and strengthen its footprint across Tennessee and into North Carolina as part of the platform's southeastern growth strategy.

Deschenes Group Acquires Powrmatic of Canada Ltd. from Stamm International

January 1, 2021

HVAC & Mechanical

Deschenes Group Inc. (DGI) has acquired Powrmatic of Canada Ltd., a Montreal-based distributor of HVACR, electrical and hearth products, from Stamm International Corporation. Capstone Partners advised on the sale; the acquisition is positioned as a strategic add-on to expand DGI's product offering, branch footprint and customer reach across Canada.

Air Conditioning Specialist Acquires Clark Heating & Cooling, Inc.

September 30, 2025

HVAC & Mechanical

Air Conditioning Specialist, Inc. (ACS), a portfolio company of Hidden Harbor Capital Partners, has acquired Clark Heating & Cooling, Inc., a residential and light commercial HVAC provider headquartered in Dickson, Tennessee. The deal expands ACS’s footprint in Middle Tennessee and strengthens its HVAC and plumbing service platform; financing for the transaction was provided by funds managed by First Eagle Alternative Credit and Capital Southwest.

Air Conditioning Specialist (ACS) Acquires Charcool Heating & Cooling

May 6, 2022

HVAC & Mechanical

Air Conditioning Specialist, Inc. (ACS), a portfolio company of Hidden Harbor Capital Partners, announced an investment in Charcool Heating & Cooling, a local HVAC provider serving residential and light commercial customers in the Milledgeville, Georgia area. The transaction is an add-on to ACS’s platform to strengthen its footprint near its Milledgeville location and expand service capabilities for existing customers.