Melbourne, FL

www.cmsnextech.com

Huntington Beach, CA

www.airerite.com

The Company

Aire-Rite is an HVAC/R business operation that provides repair, maintenance, and installation services to customers in Southern California. The company primarily services commercial customers and provides its integrated solutions to a diverse set of multi-site restaurant and convenience store locations across the Southern California market.

The Deal

CMS Nextech (“CMS”), a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of Aire-Rite. This acquisition bolsters CMS’s footprint in California while strengthening its technician density and allowing the company to service a wider customer demographic. Aire-Rite represents the company’s fifth acquisition since Audax’ investment.

The Thesis

In November of 2020, Audax partnered with CMS Nextech, one of America’s largest independent, self-performing commercial HVAC/R service providers. Headquartered in Melbourne, Florida, CMS provides commercial HVAC/R repair, maintenance, and installation services across 45 states. Audax entered the partnership with the goal of building a comprehensive, national HVAC service platform with the ability to service customers across all 50 states. Audax will continue to work with the CMS management team to drive further organic growth and accelerate its acquisition strategy to widen its footprint, expand its customer base, and continue to drive efficiencies within the business.

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