RapidAir, which is backed by Pfingsten, has acquired Michigan City, Indiana-based Alpha-Pure, a distributor of branded and private label compressed air treatment and condensate management products. No financial terms were disclosed.
Chicago, Illinois – December 7, 2021
Pfingsten announces its portfolio company, Engineered Specialties, LLC d.b.a. RapidAir (“RapidAir”) has acquired Alpha-Pure Corporation (“Alpha-Pure”), a distributor of branded and private label compressed air treatment and condensate management products. Headquartered in Michigan City, Indiana, Alpha-Pure distributes a range of condensate drains and compressed air treatment products including compressed air filters, compressed air dryers and desiccant products.
“Alpha-Pure is a fantastic fit with the RapidAir platform,” said Andy Remus, President of RapidAir. “Alpha-Pure’s exceptional customer relationships and complementary product portfolio will be highly accretive to RapidAir. Our customer base will now have access to a more comprehensive portfolio of compressed air solutions.”
“We are excited to be joining the RapidAir team,” said Mark McCullagh, former owner of Alpha-Pure. “The combined product portfolio will benefit our diverse customer base of distributors, contractors, construction, engineering and architectural firms and automotive and farm and ranch retailers.”
Pfingsten became the majority shareholder of RapidAir in July 2019. RapidAir offers compressed air piping systems under three different brand names and provides numerous related kits, components and replacement parts including filter regulators, moisture drains, fittings, hose reels and other air compressor parts and accessories.
The transaction closed on November 19, 2021. To learn more about RapidAir and Alpha-Pure, please visit rapidairproducts.com and alpha-pure.com.
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 150 manufacturing, distribution and business services companies. For more information, visit pfingsten.com.