Baird BOS Advises AEC on Acquisition by Meriton
Air Equipment Company (“AEC” or the “Company”) has been acquired by Meriton, a leading commercial HVAC manufacturer representative company. Baird Business Owner Solutions served as exclusive financial advisor to AEC on this transaction. Dan Walter with Vice Cox & Townsend served as legal counsel for AEC.
Based in Louisville, Kentucky, AEC has been serving the Kentucky and Southern Indiana markets for equipment, parts, and service for more than 75 years with a focus on engineering innovative, healthy, and critical environments. In a growing Kentucky market, the partnership with Meriton will focus on expanding the Company’s capabilities and talent across commercial HVAC equipment sales, parts, service, and hydronics.
“We are very pleased with the outcome of our transaction and feel Meriton is the best home for AEC,” says Chip Summers, chief executive officer of AEC. “We thank John and the Baird team for all of the work and advice along the way and know we got the best deal on the table due to their involvement.”
“This is a great time to invest in the Kentucky and Southern Indiana markets,” says Jerry Braun, chief executive officer of Meriton. “Air Equipment Company has built a strong reputation of high quality, innovative solutions for some of the most challenging environments and we share a relentless focus on results, making them a great fit for our organization.”
Headquartered in Dallas, Texas, Meriton is a business accelerator specializing in acquiring leading manufacturer representative firms and fostering their long-term growth through strategic investments and operational excellence. The company makes investments in top tier organizations and brings them together to maximize their collective potential. Meriton is building a growing network of exclusive manufacturers’ representatives in commercial and industrial HVAC equipment across the country.
About Baird Business Owner Solutions
Baird’s Business Owner Solutions team advises lower middle-market and emerging growth companies and their owners on business transition, valuation, and M&A transactions.