Arcline Investment Management has acquired a controlling stake in Air Comm, a provider of environmental control systems, thermal management systems and other accessories for the aerospace and defense industry. The transaction puts Air Comm at a valuation of $250 million. As a result of the deal, Dave Harrison will remain a significant minority shareholder and serve as chairman of Air Comm’s board of directors.
WESTMINSTER, Colo., July 6, 2021 /PRNewswire/ — Arcline Investment Management (“Arcline”), a growth-oriented private equity firm, today announced that it has acquired a controlling stake in Air Comm Corporation (“Air Comm,” “ACC” or the “Company”) in a transaction that values the Company at $250 million. Dave Harrison will remain a significant minority shareholder and serve as Chairman of Air Comm’s Board of Directors.
Air Comm designs, manufactures, and services environmental control systems (“ECS”), thermal management systems and other accessories for the aerospace and defense industry. The Company serves a global customer base of leading OEMs, fleets, and aftermarket service providers from its world-class team and manufacturing facility located in Westminster, Colorado.
Arcline commented, “The whole ACC team has done an impressive job building a scaled business offering high-quality, differentiated ECS solutions to meet demanding needs of OEM and aftermarket customers in the general aviation and rotary aircraft end-markets. We believe that the Company’s strong market positioning, growth-oriented culture and high-quality product offering make it a great fit within the Arcline portfolio. We are excited to partner with Dave to execute on our shared strategic plan for organic and inorganic growth.”
Dave Harrison, Chairman of ACC, added, “We at Air Comm are excited to partner with Arcline in the next chapter of ACC’s growth. We see tremendous opportunity to expand our core capabilities in MRO, deliver faster turnaround times and create innovative ECS solutions for our customers. We believe Arcline’s aerospace and defense domain knowledge and experience will enable ACC to accelerate these initiatives.”
Lazard Ltd. served as financial advisor to Arcline in connection with the transaction. ANV Partners and Houlihan Lokey served as financial advisors to Air Comm.
About Air Comm Corporation
Air Comm Corporation was founded in 1987 to meet the needs of helicopter operators seeking solutions to problems commonly found in factory-installed environmental control systems. Today, ACC is an industry leader in the development and manufacture of state-of-the-art bleed air heaters and vapor-cycle air conditioners for turbine helicopters and fixed wing applications. Combining a Part 27 engineering design center, an integrated manufacturing, and a Part 145 Maintenance Overhaul and Repair capability in its world-class Westminster, CO facility, Air Comm is a premier supplier of heating and air conditioning system solutions. For more information about Air Comm, please visit www.aircommcorp.com.
About Arcline Investment Management
Arcline is a growth-oriented private equity firm that seeks to invest in thriving middle market businesses in high value industries. Arcline’s investment strategy combines deep business model expertise, proactive thematic research, an unrelenting focus on the upside and a collaborative, management-first approach to value creation. The firm’s primary sectors of interest include defense, aerospace, critical infrastructure services, industrial & medical technology, life sciences and specialty materials. Arcline currently has $4.3 billion in cumulative capital commitments. For more information visit www.arcline.com.