Kian scoops up HVAC wholesale distributor Team Air

• Jeff Wallace will continue to lead Team Air as president and CEO and will maintain a significant equity stake alongside Kian
• PNFP Capital Markets Inc was financial advisor to Team Air while Fifth Third Securities served as financial advisor to Kian
• Based in Charlotte, North Carolina, Kian Capital invests in the services, consumer, value-added distribution, and specialty manufacturing sectors

Kian Capital Partners has acquired Nashville-based Team Air Distributing, an HVAC wholesale distributor. No financial terms were disclosed.

Jeff Wallace will continue to lead Team Air as president and CEO and will maintain a significant equity stake alongside Kian.

Other investment partners supporting the transaction include Barings, Everside Capital Partners, LNC Partners and MSouth Capital.

“This transaction is a significant step forward for Kian, representing the first platform investment out of our recently announced third fund and a continued focus on value-added distribution as a focus sector of the firm,” said Kevin McCarthy, co-founder and partner at Kian in a statement. “Team Air is an ideal fit within Kian’s strategy of applying our team’s operational expertise in partnership with outstanding management teams to scale high-performance companies that will define their industries.”

Sherrard Roe Voigt & Harbison acted as legal advisor and PNFP Capital Markets, Inc. as financial advisor to Team Air. Robinson, Bradshaw & Hinson, P.A. acted as legal advisor and Fifth Third Securities served as financial advisor to Kian.

Team Air was founded in 1990.

Based in Charlotte, North Carolina, Kian Capital invests in the services, consumer, value-added distribution, and specialty manufacturing sectors. Kian was founded in 2013.