M&A Deal Summary

Gryphon Investors Acquires AirX Climate Solutions

On September 27, 2023, private equity firm Gryphon Investors acquired manufacturer AirX Climate Solutions from L Catterton Partners

Acquisition Highlights
  • This is Gryphon Investors’ 1st transaction in the Manufacturing sector.
  • This is Gryphon Investors’ 80th transaction in the United States.
  • This is Gryphon Investors’ 1st transaction in Oklahoma.

M&A Deal Summary

Date 2023-09-27
Target AirX Climate Solutions
Sector Manufacturing
Buyer(s) Gryphon Investors
Sellers(s) L Catterton Partners
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc.
Nomura Investment Bank (Financial)

Target

AirX Climate Solutions

Yukon, Oklahoma, United States
AirX Climate Solutions provides highly engineered, specialty cooling and ventilation solutions serving mission-critical applications across a diverse set of end markets, including telecommunications, data centers, energy storage, rental, educational, and industrial/commercial markets. AirX Climate Solutions is based in Yukon, Oklahoma.

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Buyer(S) 1

Buyer

Gryphon Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 8.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Gryphon Investors is a private equity firm focused on making $50 to $300 million of equity or equity-linked investments in middle-market companies. Target transaction situations include traditional buyouts, leveraged build-ups, and growth financings. Gryphon will consider both control and shared-control positions. Sectors of interest include business services, consumer, retail, automotive, chemicals, general manufacturing, healthcare, and hotels. Gryphon Investors was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 81 of 82
Sector (Manufacturing) 1 of 2
Type (Secondary Buyout) 26 of 27
State (Oklahoma) 1 of 1
Country (United States) 80 of 81
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-18 Thermal Technology Distribution Solutions

Cincinnati, Ohio, United States

Thermal Technology Distribution Solutions is a platform for the distribution of industrial temperature management and related products. Thermal Technology Distribution Solutions is based in Cincinnati, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-27 Potter Electric

St. Louis, Missouri, United States

Potter Electric is a designer and manufacturer of mission-critical specialty electronic and electromechanical products for the fire safety industry. Potter Electric Signal was founded in 1898 and is based in St. Louis, Missouri.

Sell -

Seller(S) 1

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 99 of 101
Sector (Manufacturing) 3 of 3
Type (Secondary Buyout) 20 of 20
State (Oklahoma) 1 of 1
Country (United States) 73 of 75
Year (2023) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-12 Withmal

Tokyo, Japan

Withmal is a growing veterinary services group, that aims to be a trusted partner that pet parents across the country can rely on for their pets’ healthcare needs. It has built a strong team of vets by cultivating an environment where they can focus on treating pets, leveraging its best-in-class equipment and facilities, while leaving ancillary operational and administrative tasks to the group. Withmal was founded in 2018 and is based in Tokyo, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-04 AmaWaterways

Calabasas, California, United States

AmaWaterways offers river cruise experiences with 25 custom-designed ships sailing. The company is renowned for its warm and welcoming crew, innovative and sustainable ship design, wellness activities (including a wide choice of included small group shore excursions featuring biking and hiking options). AmaWaterways was founded in 2002 and is based in Calabasas, California.

Buy -