Platinum Equity has acquired Infratech, a preeminent branded player and pioneer in infrared electric heating solutions with more than 50 years of experience serving customers across residential and commercial heat applications. Financial terms were not disclosed. Platinum Equity acquired the business from entrepreneur Sam Longo Jr. and Infratech CEO John Mazzotta, both of whom retained equity stakes in the business, with Mazzotta continuing to serve as CEO.
Infratech manufactures high-quality products in the United States and offers a comprehensive product line spanning the outdoor comfort ecosystem, including premium heating solutions, a broad range of UL-listed controls, and multiple mounting and configuration options. The company is well positioned at the intersection of smart and connected building technology, comfort controls, HVAC solutions, and environmental sustainability.
The acquisition leverages Platinum Equity’s expertise investing in and growing businesses across the HVAC landscape. The firm’s current lower middle market portfolio also includes Motors & Armatures, known as MARS, a leading distributor of residential and commercial heating, cooling, and dehumidification equipment. Going forward, Infratech intends to build upon its leading capabilities across heating solutions, controls, and product engineering as it evaluates opportunities to expand its portfolio and serve customers across a broader set of end markets and applications.
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $48 billion of assets under management and a portfolio of approximately 60 operating companies. Over the past 30 years, the firm has completed more than 550 acquisitions across manufacturing, distribution, transportation, technology, and other industries.
KEY QUOTES:
“Infratech is exactly the kind of entrepreneur-built business our Small Cap team is proud to back. We have a great deal of experience helping entrepreneurial businesses preserve what makes them special while leveraging our commercial and operational resources, sector knowledge and M&A capabilities to unlock new avenues for growth. We believe Infratech has built a tremendous platform in an attractive market, and we are excited to support the company as it pursues its next phase of expansion.”
— Jacob Kotzubei, Co-President, Platinum Equity
“What attracted us to Infratech is the strength of its brand, its high-quality domestic manufacturing capabilities, its leading position in the infrared electric heat category, and the depth of its offering across controls, mounting systems and comfort heating solutions. We see meaningful opportunities to invest behind the platform across organic initiatives and through strategic M&A. We are actively pursuing both tuck-in and transformational add-on acquisition opportunities that both complement and enhance Infratech’s capabilities and product lineup.”
— Nick Fries, Managing Director, Platinum Equity
“I’m confident Platinum Equity will propel our company forward to new levels that we couldn’t achieve alone. We both share a vision for the future, and Platinum’s involvement will provide further access to capital and resources to drive continued innovation, product development, best-in-class customer service, and the same high-quality offering that Infratech’s customer base has known and trusted for a long time.”
— John Mazzotta, CEO, Infratech
