TMCnet News
Yukon Supports One Rock Capital Partners' Investment in Airxcel, Inc.MINNEAPOLIS --(Business Wire)-- Yukon Partners ("Yukon"), a provider of mezzanine financing for middle market private equity transactions, is pleased to announce its subordinated debt and equity investment in Airxcel, Inc., ("Airxcel" or the "Company"). Airxcel, headquartered in Wichita, Kansas, manufactures a broad range of climate control solutions. One Rock Capital Partners ("One Rock") sponsored the transaction. Subordinated debt financing was provided by Yukon, Freedom 3 Capital, and Babson Capital Management. Senior financing for the transaction was led by GE Antares Capital and Citizens Financial Group. The specific terms of the transaction were not disclosed. Management will own a meaningful interest in Airxcel and will continue to operate the business on a day-to-day basis. One Rock will complement the Airxcel management team's vision with strategic guidance and financial expertise to accelerate growth while continuing to leverage the Company's entrenched partnerships with its blue-chip customer base. Airxcel manufactures a broad range of climate control solutions and related products, including air-conditioners, heat-pumps, cooking appliances, furnaces, powered vents, and water heaters. Airxcel's products are sold into various end-markets including recreation vehicles, school classrooms, multi-family living, industrial/commercial applications, and telecommunication enclosures. The Company markets its products under the highly-respected brand names Coleman-Mach, Suburban, Maxxair, and Marvair (News - Alert). One Rock Managing Partner Scott Spielvogel commented, "Yukon has a strong record of partnering with private equity firms and management teams to support their efforts to drive growth and create value. The One Rock organization looks forward to stregthening our relationship with Yukon through our investment in Airxcel." Mike Hall, Managing Partner of Yukon added, "We are excited to partner with management and One Rock to support the acquisition of Airxcel. The Company has established itself as a key manufacturer of climate control and other similar products for the broad array of industries it serves. Yukon is fortunate to provide capital to and partner with Airxcel as the Company continues to execute its growth strategy. We also look forward to benefiting from One Rock's investment stewardship."
About Airxcel, Inc.
About Yukon Partners
About One Rock Capital Partners
|