PE-backed Munch’s Supply buys API

Munch’s Supply, a portfolio company of Ridgemont Equity Partners, has acquired Air Purchases of New Hampshire Inc.

Munch’s Supply, a portfolio company of Ridgemont Equity Partners, has acquired Air Purchases of New Hampshire Inc. No financial terms were disclosed. Citizens M&A Advisory was financial advisor to API. Headquartered in Manchester, New Hampshire, API is a provider of HVAC equipment and accessories for residential and commercial end markets.

PRESS RELEASE

Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Air Purchases of New Hampshire, Inc. (“API”) in its sale to Munch’s Supply, a portfolio company of Charlotte-based Ridgemont Equity Partners.

Headquartered in Manchester, N.H., API is a leading distributor of premium HVAC equipment and accessories for residential and commercial end markets. Established in 1987 by the Engel Family, API has grown its footprint of branch and sheet metal fabrication locations to serve customers across the Northeast. A partnership with Munch’s Supply will allow API to accelerate the management team’s strategic growth initiatives through both organic and inorganic opportunities.

Bob Engel Jr., president of API, said: “From the beginning of our interactions with the Munch’s Supply team, we were struck by the similarities between our businesses. From the shared family-owned businesses legacy, to our aligned views on core values, similar corporate cultures and a shared focus on providing exceptional customer service, it was clear that a partnership with Munch’s would be successful. We are excited for the future and working alongside the Munch’s Supply team.”

Continued Engel, “We cannot say enough about the Citizens team and how great they were to work with. Their leadership, guidance and advice throughout the process were exceptional. We are fortunate that we selected Citizens to advise us; we could not have achieved this fantastic outcome without their dedication to API and our success.”
Matt Mueller, managing director at Citizens M&A Advisory, said: “The Engel family and API’s dedicated employees have built a tremendous business over the last 30 years. We truly enjoyed working with this talented team of hardworking, great people. We are thrilled that we were able to bring together API and Munch’s Supply in this transaction and are excited to watch the future growth they will achieve together.”

Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients’ true value. The Citizens team has closed more than 150 transactions in the last five years and has more than 60 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).

For more information, please go to the Citizens M&A Advisory website.