Sterling Group-backed Specified Air acquires Dectron

Specified Air Solutions, a portfolio company of U.S. private equity firm the Sterling Group, has acquired Dectron Inc, a Montréal-based provider of dehumidification, air quality and energy recovery solutions primarily for indoor pools. No financial terms were released. The deal was first announced in August. Axxel Inc was the M&A adviser to Dectron. Specified Air, a manufacturer of heating, ventilation and air conditioning equipment, is based in Buffalo, New York. Formerly Roberts-Gordon LLC, the company was acquired by Sterling Group in July 2014.

PRESS RELEASE

Specified Air Solutions acquires Dectron Inc.

MONTREAL, Oct. 18, 2016 /CNW Telbec/ – Specified Air Solutions, a market leading manufacturer of commercial and industrial HVAC equipment, has announced that it has acquired Dectron Inc., an industry leader in indoor pool dehumidification systems headquartered in Montreal, Quebec, Canada.

“Dectron Internationale Inc. has retained the services of Axxel with respect to the sale of its business. Axxel performed its mandate in the most professional manner, resulting in a very successful transaction”, Ness Lakdawala, CEO of Dectron Internationale.

Axxel Inc., acted as the exclusive M&A adviser to Dectron.

`Working with The Sterling Group on this transaction was both a privilege and a pleasure. This add-on acquisition to the Specified Air Solution’s group will ensure that the Dectron Brand will continue to flourish and will remain a household name in the HVAC industry.” Jean-Michel Zakhour, Managing Director of Mergers & Acquisitions at Axxel Inc.

About Specified Air Solutions:
Specified Air Solutions, formerly Roberts Gordon LLC, was acquired in Houston, Texas in July of 2014 by The Sterling Group, a middle market private equity firm. Its` broad product offering and extensive portfolio includes many other popular HVAC brands, and as such it is a natural pairing with Dectron Internationale.

About Dectron Inc:
Since 1976, Dectron grew to become a household name in the industry, particularly with its Dry-O-Tron brand that quickly became known as the most recognized name for dehumidifying solutions for indoor pools.

About Axxel:
Located in Montreal, QC, Axxel Inc is a multidisciplinary boutique consulting firm that specializes in Mergers & Acquisitions, Corporate Finance, Scientific Research & Experimental Development Tax Credits, Governments Grants, and Food Certification. Since 1999, their specialists’ knowledge of the industry, their negotiation skills, their capacity for forecasting and business planning, and their incredible network of lenders and professionals, have ensured the highest quality of service for their clientele.

Photo courtesy of Dectron Inc