BRS Realizes Distribution Through Recapitalization of Airxcel
December 21, 2012
NEW YORK, December 21, 2012 — Bruckmann, Rosser, Sherrill & Co. (“BRS”), a New York-based private equity firm, announces a distribution to its limited partners resulting from the recapitalization of Airxcel (“Airxcel” or the “Company”). Airxcel, based in Wichita, Kansas, is a leading manufacturer of climate control solutions for the recreational vehicle industry. In addition, the Company is a leading supplier of wall-mounted air-conditioning systems for telecommunications shelters and self-contained school classrooms. BRS acquired Airxcel in partnership with management in August 2005.
“We are pleased to complete our second distribution on Airxcel and return additional capital to our investors. Airxcel’s strong market position and product portfolio have enabled it to quickly recover from the economic downturn. We are confident this recapitalization provides Airxcel with the necessary flexibility to continue its growth.” said Nicholas Sheppard, Managing Director of BRS.
GE Capital led the financing necessary to complete the recapitalization.
BRS is a New York based private equity firm with $1.4 billion of committed capital under management in three investment partnerships, focused on investing in middle market consumer goods and services businesses. Since 1996, BRS has purchased over 40 portfolio companies for aggregate consideration of over $6.4 billion. In addition, BRS portfolio companies have completed approximately $1.9 billion of add-on acquisitions. Prior to forming the firm, the founders of BRS were in the financial acquisition business at Citicorp Venture Capital where they closed 25 transactions with aggregate transaction values totaling $5.8 billion.
For additional information contact:
Kekst and Company
Ruth Pachman or Mark Semer