Air Control Concepts Welcomes Blackstone as New Equity Investment Partner

Author

Slice of Manufacturing Team
July 17, 2024

Key Highlights:

  • Air Control Concepts (AIR), formerly Hobbs & Associates, partners with leading commercial HVAC OEMs.

  • Blackstone joins as an equity investment partner alongside Madison Dearborn Partners (MDP).

  • Brad Hobbs, Founder, President, and CEO of AIR, emphasizes the mission to partner with top HVAC OEMs.

  • Blackstone and MDP's resources will support AIR’s further growth and benefit partners and customers.

  • Existing management and leadership teams will remain, ensuring continuity and operational excellence.

Source (Business Wire)

Notable Quotes:

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"We are thrilled to welcome Blackstone as an investment partner. We believe our vendors and customers will benefit from the resources and expertise of both MDP and Blackstone, as will the network of operating companies aligned under our corporate name."

Brad Hobbs, Founder, President, and CEO at AIR
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"We are thrilled to partner with AIR and MDP and help AIR expand even further in the years ahead. Blackstone has deep experience in this sector and we look forward to working closely with AIR’s leadership team to invest behind its further growth for the benefit of AIR’s partners and customers."

Seth Meisel, Senior Managing Director, and Karl Eber, Managing Director at Blackstone
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"We have enjoyed a very successful partnership with Brad and the AIR management team thus far, and we are excited to welcome Blackstone as an investment partner."

Rich Copans, Managing Director and Head of Basic Industries Team, and Drew Macha, Managing Director at MDP

Our Take:

The strategic partnership between Air Control Concepts (AIR) and Blackstone, alongside existing investor Madison Dearborn Partners (MDP), marks a significant milestone for the company. This collaboration is poised to bolster AIR's growth trajectory, leveraging Blackstone's extensive experience and resources. The continuity in leadership and management underscores a commitment to maintaining the high standards and values that define AIR. As the company continues to evolve, this infusion of capital and expertise will likely enhance its ability to deliver innovative HVAC solutions and strengthen its market position.