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AEA Investors sells Omega to Olympus Partners

Olympus Partners has acquired Omega Environmental Technologies from AEA Investors.

Olympus Partners has acquired Omega Environmental Technologies from AEA Investors. No financial terms were disclosed. Based in Irving, Texas, Omega is an aftermarket distributor of climate control products and other mission-critical components across the light and heavy-duty automotive sectors.

PRESS RELEASE

STAMFORD, Conn., March 31, 2022 /PRNewswire/ — Stamford, CT based private equity firm Olympus Partners has acquired Omega Environmental Technologies (“Omega”), the market leading aftermarket distributor of climate control products and other mission-critical components across the light and heavy-duty automotive sectors, from AEA Investors, which will remain a minority equity investor and retain a board position in the Company. Omega serves thousands of customers globally across the wholesale distribution, OE service, and automotive retail channels. The Company is headquartered in Irving, Texas and has over 20 distribution centers across the United States and Canada.

“The replacement air conditioning market is very attractive, with steadily growing demand and high barriers to entry due to the technical nature and SKU intensity of the product. Omega is the leader in this category with a portfolio of powerful brands and complete end market coverage. We look forward to working with Peter, Randy, and the rest of the management team to continue grow the Company,” said Jason Miller, Partner at Olympus.
Peter Butterfield, Chairman of Omega, added, “I would like to thank AEA for their support over the past few years and look forward to partnering with the Olympus team. I have never been more excited about the prospects of the Company.”

Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries including business services, consumer products, healthcare services, financial services, industrial services, and manufacturing. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.

The Olympus team included Jason Miller, Matt Bujor, and Alex Pollera. Olympus was represented by Ben Clinger, Adam Wexner, and Kat Murphy from Kirkland & Ellis LLP. Antares Capital LP led debt financing for the transaction.

AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 100 investment professionals operate globally with offices in New York, Stamford, San Francisco, London, Munich and Shanghai. The firm manages funds that have over $14 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies, growth capital and mezzanine and senior debt investments. AEA Small Business is a strategy within AEA that currently manages $1.9 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with proven management teams and superior business models.

About Olympus Partners
Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for growing companies. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing.