AVON, CONNECTICUT – JANUARY 13, 2025 – Ironwood Capital Connecticut is pleased to announce an exit from its investment in Air Temp Mechanical Services, Inc. (“Air Temp” or the “Company”), which was sold to PremiStar, a nationwide network of commercial HVAC, building controls and plumbing experts.

Founded in 2001, Air Temp is a full-service commercial HVAC and plumbing company with an emphasis on design build, service, maintenance, controls, retrofits, replacements and energy management systems. The Company focuses on customers in the corporate, education and government sectors within the Connecticut market. Air Temp has the capabilities to service and maintain large tonnage chillers, rooftops, ductless VRV/VRF systems, mission critical data centers, EMS control systems, and industrial boilers and burners.

“The exit from Air Temp represents another successful investment in the construction services market for Ironwood. Over the course of our hold period, we supported the Company in its organic and acquisition growth strategy, completing four acquisitions and expanding the Company from 22 to over 125 technicians resulting in an increase in revenues over 6x and expanding EBITDA by a factor of 8.5x,” stated Ironwood Capital Partner, Alex Levental. “Air Temp has evolved into one of the largest, independent HVAC, plumbing and mechanical service providers in New England, and is well positioned for its next phase of growth with PremiStar.”

About Air Temp Mechanical Services, Inc.

Air Temp is a full-service commercial HVAC company with an emphasis on service, maintenance, replacements & retrofits, building controls and energy efficiency solutions. Air Temp has the capabilities to service and maintain large tonnage chillers, rooftops, ductless VRV/VRF systems, mission critical data centers, EMS control systems, and industrial boilers and burners. For more information, please visit: ctairtemp.com. 

About Ironwood Capital Connecticut

Ironwood Capital Connecticut (“ICC”) was established by Ironwood Capital in 2010 to foster business growth and formation, promote economic opportunity and create and retain jobs in Connecticut through the InvestCT program. Ironwood Capital has invested more than $1 billion in over 100 companies since 2001 and currently invests subordinated debt and minority equity in amounts ranging from $10 million to $50 million. Ironwood’s investments support business owners and financial sponsors in growth financings, recapitalizations, generational transitions and buyouts. For more information, please visit: ironwoodcap.com.

Media Contacts

Carolyn C. Galiette

Partner, Chairman, CIO

galiette@ironwoodcap.com 



Kimberly A. Craig

Vice President

Operations, Compliance & Investor Relations

craig@ironwoodcap.com

For more information,

please visit: ironwoodcap.com