M&A Deal Summary

Madison Industries Acquires Airxchange

On October 27, 2020, private equity firm Madison Industries acquired manufacturer Airxchange

Acquisition Highlights
  • This is Madison Industries’ 9th transaction in the Manufacturing sector.
  • This is Madison Industries’ 33rd transaction in the United States.
  • This is Madison Industries’ 3rd transaction in Massachusetts.

M&A Deal Summary
Date 2020-10-27
Target Airxchange
Sector Manufacturing
Buyer(s) Madison Industries
Deal Type Buyout (LBO, MBO, MBI)

Target

Airxchange

Rockland, Massachusetts, United States
Airxchange is a manufacturer of energy recovery ventilation (ERV) components. Airxchange mission is to design and manufacture high quality products that perform reliably and effectively for the life of the HVAC system, reduce energy consumption, and improve indoor air quality. Airxchange was founded in 1981 and is based in Rockland, Massachusetts.

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Buyer(S) 1

Buyer

Madison Industries

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
Size Large
Type Sector Focused
DESCRIPTION

Madison Industries is a privately held investment holding firm that targets growth investments in and acquisitions of industrial manufacturing companies. Madison prefers businesses with a defensible market niche, established technology, and significant cash-flow growth potential. Madison will also consider turnaround situations. Target opportunities generally have sales between $50 million and $2 billion. Madison Industries is based in Chicago, Illinois.

DEAL STATS #
Overall 38 of 47
Sector (Manufacturing) 9 of 12
Type (Buyout (LBO, MBO, MBI)) 17 of 21
State (Massachusetts) 3 of 3
Country (United States) 33 of 39
Year (2020) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-06 Novelaire Technologies

Baton Rouge, Louisiana, United States

Novelaire Technologies has been Creating the Great Indoors for more than 25 years by providing advanced humidity control equipment to hundreds of OEMs and thousands of other customers throughout the world. NovelAire manufactures energy conservation wheels and desiccant dehumidification wheels that are supplied to many of the major HVAC manufacturers. Novelaire Technologies was founded in 1998 and is based in Baton Rouge, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Steril-Aire

Burbank, California, United States

Steril-Aire provides high-output ultraviolet germicidal solutions for improved indoor air quality and energy efficiency. Steril-Aire produce innovative, technological solutions, backed by science, that enhance customer’s image, save money and create a better environment to live, work and breathe. Steril-Aire was founded in 1994 and is based in Burbank, California.

Buy -
Mergr

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