Corinthian Capital Group has acquired Friedrich Air Conditioning. Financial terms were not announced. San Antonio, Texas-based Friedrich makes air conditioners. Capstone Partners advised Friedrich.
Corinthian Capital Group, LLC, a leading private equity firm specializing in investments in small and middle market companies, has announced that it has acquired Friedrich Air Conditioning Co. Ltd. Friedrich has a 60-year history of manufacturing high quality room air conditioners, and has built a strong brand name and reputation for durability and quality. The company is headquartered in San Antonio, Texas, with a manufacturing facility in Monterrey, Mexico.
“We are excited about this new partnership with Corinthian Capital,” stated Chuck Campbell, Chief Executive Officer of Friedrich. “Working together with the Corinthian team, I believe we can strengthen our competitive advantage and achieve robust growth.”
Peter Van Raalte, Senior Managing Director of Corinthian Capital said, “Corinthian is pleased to partner with Friedrich and its impressive management team to help launch the company into its next stage of strategic growth and development.”
Financing for the transaction was provided by Regions Business Capital and Kayne Anderson Mezzanine Partners. Affiliates of Kayne Anderson Mezzanine Partners and senior management of Friedrich made a minority equity investment in the company. Legal advisor Mintz Levin Cohn Ferris Glovsky and Popeo PC represented Corinthian Capital on the transaction. McGladrey LLP provided accounting advice to Corinthian Capital in the transaction. Friedrich was advised by Capstone Partners LLC.
For more information about Friedrich Air Conditioning, please visit www.friedrich.com.
About Corinthian Capital Group, LLC
Corinthian Capital is a private equity firm investing in niche manufacturing, distribution, and service businesses with EBITDA between $5 million and $30 million, located primarily in North America. Corinthian Capital is based in New York, NY with offices located in Chicago, IL and Boston, MA. For more information, visit www.corinthiancap.com