Investment Summary

Tailwind and Stellus Capital Management Invest In Axis Portable Air

On February 17, 2022, private equity firms Tailwind and Stellus Capital Management invested in business services company Axis Portable Air

Investment Highlights
  • This is Tailwind’s 4th and Stellus Capital Management’s 6th transaction in the Business Services sector.
  • This is Tailwind’s 47th and Stellus Capital Management’s 37th transaction in the United States.
  • This is Tailwind’s 3rd and Stellus Capital Management’s 3rd transaction in Arizona.

Investment Summary

Date 2022-02-17
Target Axis Portable Air
Sector Business Services
Investor(s) Tailwind
Stellus Capital Management
Deal Type Growth Capital

Target

Axis Portable Air

Chandler, Arizona, United States
Axis Portable Air provides portable climate control solutions, including cooling, heating, dehumidification, and air-quality equipment for rental and sale across the U.S. Axis Portable Air was formed in 2019 and is based in Chandler, Arizona.

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Investor(S) 2

Investor

Tailwind

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 3.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tailwind is an independent private equity firm focused on making control investments in companies operating in the healthcare, media/communications, and business services sectors. Tailwind looks to invest $25 to $200 million in profitable businesses valued above $500 million. The Firm seeks companies with proven business models and strong opportunities for growth, either organically or through acquisition. Tailwind Capital was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 47 of 51
Sector: Business Services M&A 4 of 4
Type: Growth Capital M&A Deals 9 of 11
State: Arizona M&A 3 of 4
Country: United States M&A 47 of 51
Year: 2022 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-24 AST

Lisle, Illinois, United States

AST is a full-service enterprise systems integrator, serving clients in the public and commercial sectors for more than two decades. Clients look to AST for leadership and assistance in systems integration, business process redesign, project management, systems administration, and training. From on-premise applications to modern cloud technology, the company's services encompass all aspects of Enterprise Resource Planning, Business Intelligence, Enterprise Performance Management, Customer Experience, and Middleware. It also offers flexible Managed Services, supporting the needs of over 200 Public Sector and Commercial customers around the globe. AST was formed in 1995 and is based in Lisle, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-15 Onix

New York, New York, United States

Onix is a cloud IT services company enabling its customers to effectively leverage Google Cloud’s infrastructure and capabilities. The company provides advanced technical consulting and managed services solutions as part of its Google Workspace and Google Cloud practices. Onix is based in New York.

Buy -
Investor

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 37 of 86
Sector: Business Services M&A 6 of 12
Type: Growth Capital M&A Deals 8 of 24
State: Arizona M&A 3 of 4
Country: United States M&A 37 of 83
Year: 2022 M&A 6 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 Bishop Lifting Products

Houston, Texas, United States

Bishop Lifting Products is a fabricator and distributor of products, services, and lifting solutions for crane, rigging, marine, and oilfield applications. Bishop Lifting Products was founded in 1984 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-21 Exigo

Dallas, Texas, United States

Exigo is a Platform as a Service (PaaS) for direct selling companies that provides comprehensive point-of-sale, commission management, reporting, and customer relationship management services. The company's scalable commission engine enables its customers to process high volumes of orders and manage the activity of large, distributed sales forces. Exigo was formed in 2000 and is based in Dallas, Texas.

Buy -