BRS Realizes Distribution through Recapitalization of Airxcel
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.
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