Air Innovations: Altus Capital Partners Expands Portfolio with New Acquisition
Deal News | Dec 04, 2024 | Altus Capital Partners Inc
In a strategic move to bolster its portfolio of middle market manufacturing businesses, Altus Capital Partners, headquartered in Wilton, Connecticut, has acquired Air Innovations, LLC. Air Innovations, based in North Syracuse, New York, specializes in the design and construction of environmental control units for high-stakes industries including wine, aerospace, semiconductor, homeland security, and healthcare. The acquisition is seen as a critical step in Altus's investment strategy, particularly due to Air Innovations' proven track record of innovation and customization in environmental controls. With a market presence spanning nearly 40 years, Air Innovations is renowned for its proprietary systems under the Wine Guardian brand, offering commercial-grade temperature and humidity control solutions. The transaction, whose financial details remain undisclosed, sees Altus Capital Partners taking an active role in facilitating Air Innovations' growth plans, with their experienced management team remaining at the helm. Highlighted by statements from both companies' executives, this acquisition underscores the potential for stronger market positioning and diversified end-market reach, aligning with Altus’s long-term vision of nurturing niche manufacturing enterprises.
Sectors
- Manufacturing
- Environmental Controls
- Private Equity
Geography
- United States – Both Altus Capital Partners and Air Innovations are headquartered in the United States.
Industry
- Manufacturing – Altus Capital Partners focuses on investments in middle market manufacturing companies.
- Environmental Controls – Air Innovations specializes in the creation of environmental control units for various industries.
- Private Equity – The article discusses a transaction involving a private equity firm acquiring a company.
Financials
Participants
Name | Role | Type | Description |
---|---|---|---|
Air Innovations, LLC | Target Company | Company | A manufacturer of specialized environmental control units. |
Altus Capital Partners Inc. | Bidding Company | Company | A private equity firm that focuses on manufacturing companies. |
Michael Wetzel | President and Chief Executive Officer of Air Innovations | Person | CEO of Air Innovations, overseeing the company's next growth phase. |
Heidi Goldstein | Partner at Altus Capital Partners | Person | Partner at Altus Capital Partners, focusing on investment strategies. |
Thomas Groh | Partner at Altus Capital Partners | Person | Partner at Altus Capital Partners involved in the acquisition strategy. |
Marketcom PR | PR Firm | Company | Responsible for public relations and announcements for Altus Capital Partners. |