Tailwind Capital has made an investment in Axis Portable Air, a provider of portable climate control solutions. No financial terms were disclosed.
Tailwind Capital (“Tailwind”), a growth-oriented private equity firm investing in targeted sectors within industrials and business services today announced that it has completed a partnership investment in Axis Portable Air (“Axis” or the “Company”).
Axis provides portable climate control solutions – including spot coolers, heaters, dehumidifiers, and air quality equipment – to support customers facing emergency and temporary challenges. Axis customers span industries, including data centers and telecom; healthcare; warehouse and manufacturing; property management and office; natural disaster recovery; commercial construction; and hospitality and retail, among others. The Company’s highly-specialized team provides turn-key service, spanning solution design, delivery, setup, and pickup. Since its founding in 2019, Axis has grown rapidly to six locations in major cities in Arizona, Colorado, Georgia, Texas, and Utah.
In connection with Tailwind’s investment, Axis launched the Team Ownership Program (“TOP”), an equity participation program in which every Axis employee will receive shares in the Company, providing them with the opportunity to participate in and benefit from Axis’ continued growth, and strengthening Axis’ culture of ownership.
“This is a very exciting opportunity for Axis, our team, and our customers,” said David Walling, Founder and Chief Executive Officer of Axis. “Tailwind shares our strategic vision of building the industry’s most respected climate control solutions company. The investment will support and accelerate our plan to double our geographic footprint in the next twelve months to capitalize on the immense growth opportunities in our industry. We are especially excited about the TOP program, which will be a key differentiator as we attract and retain top-tier talent who continue to serve our customers with the speed, reliability, expertise and white-glove service we are known for.”
Bruce Dressel, Tailwind Operating Executive and Executive Chairman of Axis said, “David has built a customer centric, service-driven culture and a team that provides world-class equipment solutions on time every time, making Axis an industry leader and indispensable partner for customers facing critical challenges that require specialized support and fast resolution. Powerful trends, including continued growth in square footage under roof, increasingly aging infrastructure, and growing demand for solutions that help companies maintain comfortable working environments for their employees and customers, position the portable climate control market for significant growth. We believe that Axis is well-positioned to capture its fair share.”
“We are thrilled to partner with David and the entire Axis team,” said Jeff Calhoun, Tailwind Managing Partner. “Tailwind has a long history of collaborating with leading entrepreneurs and management teams to drive growth in well-positioned businesses – and Axis is a perfect fit. We look forward to continuing to support Axis in expanding its team, fleet, and geographic footprint to deliver even higher levels of service for more customers across the country, and to sharing the significant upside ahead with Axis’ employee shareholders.”
Terms of the investment were not disclosed.
About Axis Portable Air
Axis Portable Air is a service driven, industry proven, climate control company. Solely focused on the rental and sales of portable air conditioning and heating equipment, Axis Portable Air seeks to raise the standard in the climate control solutions space. https://www.axisair.com/
About Tailwind Capital Partners
Tailwind Capital is a private equity firm focused on growth-oriented investments in targeted sectors within industrials and business services. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic investments. Since inception, Tailwind has invested in over 50 portfolio companies and over 155 strategic acquisitions.