Altus Capital Partners has acquired Air Innovations, a maker of specialized environmental control units (ECUs).
Air Innovations produces highly specialized ECUs that address temperature, humidity, filtration, and pressurization needs for applications in the aerospace, healthcare, semiconductor, homeland security, and wine storage sectors.
Specific uses for the company’s ECU products include sterile hospital storage, clean room semiconductor lithography equipment, and spacecraft payload protection. The company also offers branded products, including the Wine Guardian line of commercial-grade temperature and humidity controls for homes, restaurants, and storage facilities. Air Innovations, led by CEO Michael Wetzel, is headquartered near Syracuse in North Syracuse, New York.
“We are excited to begin the next phase of our growth with Altus Capital Partners,” said Mr. Wetzel. “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.”
“Altus looks forward to our partnership with Air Innovations to support its growth plans,” said Heidi Goldstein, a partner at Altus. “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.”
“We recognize and value management’s capabilities in our partnership as it aligns with our investment strategy to take the company to the next level,” said Thomas Groh, a partner at Altus. “We look forward to partnering with the Air Innovations team and its talented employees to continue to drive strong sales and support their long-term growth initiatives.”
Altus invests in North America-based manufacturing companies across a wide range of industries that are located east of the Rocky Mountains and have a minimum EBITDA of $4 million. Altus is headquartered in Wilton, Connecticut, and has an additional office near Chicago in Lincolnshire, Illinois.
© 2024 Private Equity Professional | December 12, 2024
