AirX Climate Solutions Acquires Powrmatic USA
USA: AirX Climate Solutions Inc. (ACS), a specialist in HVAC systems, has announced the acquisition of Powrmatic USA, a Maryland-based manufacturer of commercial and industrial heating and cooling systems. Powrmatic, which employs around 30 people, has a 70-year history in the air-turnover market, offering systems that reduce energy costs by up to 50% compared to alternatives. This acquisition aligns with ACS's strategy to expand its specialty HVAC portfolio and footprint in the mid-Atlantic and eastern U.S. regions, enhancing its commercial presence in the sector.
This deal follows ACS’s acquisition of AboveAir Technologies earlier in 2023 and reflects ACS's growth under Gryphon Investors, a private equity firm managing approximately EUR 8.2 billion (USD 9 billion) in assets. Additionally, this transaction marks the conclusion of Stamm International Corp.'s involvement in the HVAC industry after over 90 years. Powrmatic’s team, led by its president, will remain in place to drive the company’s future growth under the ACS umbrella.
Source: ACHR News