Download PDF version

Gamut Capital Management, L.P., a pioneering New York-based middle market private equity firm, announced it has signed a definitive agreement to acquire Airtron Heating & Air Conditioning, a pioneering designer, installer, and maintenance provider for heating, ventilation, and air conditioning (HVAC) systems, from NRG Energy, Inc.

Airtron is one of the largest residential new construction HVAC installation providers in the US, with expansive geographic coverage across 13 metropolitan statistical areas (MSAs) in Texas, the Midwest, and Mid-Atlantic regions. It is a trusted partner for homebuilders nationwide. With a broad range of products, which includes all major HVAC brands, and extensive service capabilities, Airtron also offers ongoing maintenance services, providing coverage to end customers for the duration of the system lifecycle.

Partner with Gamut

Airtron was most recently acquired by NRG as part of its acquisition of Direct Energy in 2021. Notwithstanding its ownership by larger corporate organizations, Airtron has largely operated as an independent business. Since 2019, Airtron has been led by Jeff Morrow, who will assume the position of CEO.

Airtron was most recently acquired by NRG as part of its acquisition of Direct Energy in 2021

Having been part of the Airtron team for over 20 years, we are proud of the progress we’ve achieved to reach this point. We would like to thank NRG for their partnership in positioning us for this next chapter, and we are excited to partner with Gamut to usher in a phase of accelerated growth. As a standalone business, we are fully dedicated to strengthening our customer and supplier relationships and are excited to enhance our service offerings through re-investment in the Company. Together, we look forward to developing the platform both organically and through acquisitions to expand our geographic presence and customer value proposition,” said Morrow.

Airtron’s partnership capabilities

Michael Hanigan, Partner at Gamut, added, “We are excited to partner with Jeff and the Airtron team to further build on the market-pioneering, best-in-class HVAC platform that has been established over its successful history and strengthened under the ownership of NRG. As a standalone organization, we are encouraged by the multiple avenues of growth available to both accelerate the business' evolution as a full-service provider of HVAC installation and maintenance offerings as well as further expand Airtron’s partnership capabilities with key homebuilders through strategic acquisitions. Together with the Airtron team, we expect the strategic initiatives identified to drive robust value creation and further strengthen Airtron as a value-added partner to its customers, suppliers, and employees.”

Financial terms of the transaction were not disclosed. The acquisition is subject to customary closing conditions. Current Capital Partners LLC served as the exclusive financial advisor and Kirkland & Ellis LLP served as legal counsel to Gamut.

Download PDF version Download PDF version

In case you missed it

How Does Building Design Impact HVAC Systems, And Vice Versa?
How Does Building Design Impact HVAC Systems, And Vice Versa?

Building design and HVAC are interdependent aspects of creating a comfortable, healthy, energy-efficient, and functional indoor environment. How important is collaboration as archi...

New Mitsubishi Electric HVAC Control System
New Mitsubishi Electric HVAC Control System

Mitsubishi Electric has launched a new user-friendly, touchscreen controller to offer full remote controllability, monitoring and reporting for up to 400 air conditioning units. T...

Carrier Training Academy Opens For UK HVAC Engineers
Carrier Training Academy Opens For UK HVAC Engineers

Carrier Solutions UK has officially opened its state-of-the-art training academy in Stockport, where it will offer industry-renowned education and support for HVAC engineers across...

vfd