Huntington Beach, CA, 1/6/2023 – Harrison Co., an investment banking firm dedicated to advising founder- and family-led businesses, today announced it advised Aire Rite Air Conditioning & Refrigeration, Inc. (“Aire Rite” or the “Company”), a leading technical solutions provider, on its strategic sale to Florida-based Nextech Mechanical Services, a portfolio company of Audax Group, a Massachusetts-based private equity firm.
Since 1972, Aire Rite has provided a full range of services including Building Solutions, Project Design & Installation, and Sales & Leasing programs in the HVAC/R, commercial kitchen equipment, and ice machine categories. The Company has a broad customer base of over 1,000 multi-site restaurant, convenience store, and commercial customer locations. Over the last half decade, Aire Rite has been at the forefront of integrating technology with its array of offerings to better serve its customers.
“Grant Garbers and the Harrison Co. team added significant value to our company throughout the entire sale process” said Don Langston, Aire Rite’s President and CEO. “Grant and Harrison Co. served as a critical partner to the Aire Rite team and helped guide us through each step of the transaction process. Harrison Co.’s combination of in-depth financial analyses and articulation of our unique positioning allowed us to achieve our desired outcome. ”
Grant Garbers, from Harrison Co. commented, “We are privileged to have worked with the Langston family, John Leslie, and the entire Aire Rite team. The combination of Aire Rite and Nextech will help transform two industry leaders into one of the largest independent commercial HVAC/R service providers across the United States.”
ABOUT AIRE RITE
Aire Rite is a leading technical solutions provider to multi-site restaurants, convenience stores, and commercial customers across Southern California. The Company provides a wide scope of offerings that include building solutions, project design & installation, and sales & leasing programs in the HVAC/R, commercial kitchen equipment, and ice machine categories.
ABOUT HARRISON CO. LLC
Harrison Co. partners are unwavering champions of family- and founder-led businesses. The team of experienced senior financial experts helps clients make critical strategic business, mergers, acquisitions, and financing decisions to ensure optimal outcomes. Harrison Co. prides itself on providing highly personal, customized service to its valued clients from its offices located in Salt Lake City, Los Angeles and San Francisco.