Saothair Capital Partners, a private equity firm focused exclusively on investing in middle-market manufacturing and industrial companies, announced it has completed the acquisition of AAI from Halma Holdings through a newly formed affiliate.
Following the deal, AAI will be renamed Air Products and Controls (APC), restoring the company’s historic name – a brand well recognized and trusted by customers and partners in the commercial market.
Based in Auburn Hills, Michigan, AAI is a designer and manufacturer of fire and life safety detection solutions for residential and commercial applications. The company specializes in wireless smoke, heat, and carbon monoxide (CO) detectors for residential security systems, as well as commercial duct smoke and CO detectors. AAI has over 40 years of industry experience, with a strong track record of new product development and deep expertise in regulatory compliance and technical certifications.
AAI’s products are sold directly to residential security system OEMs, HVAC and fire system OEMs, and commercial distributors, with its commercial offerings sold under the APC brand. All AAI products are designed to meet stringent regulatory codes and standards.
Advisor/counsel: McGuireWoods provided legal counsel to Saothair on the transaction. And Halma was represented by Nixon Peabody for legal counsel and Houlihan Lokey as financial advisor.
KEY QUOTES:
“We are tremendously excited to partner with Chief Executive Officer Kaid Cousineau and the senior leadership team to build on the company’s strong foundation and ensure a smooth transition. We thank Halma for their partnership throughout this process and for the opportunity to acquire AAI.”
Kevin Madden, Co-founder and Managing Partner of Saothair
“AAI has a strong commitment to quality and customer satisfaction. We’re excited to work with the team to foster a culture of continuous improvement, strengthen the customer experience, and build upon the company’s commitment to operational excellence.”
Richard Lozyniak, Co-founder and Operating Partner of Saothair
“This is an exciting new chapter for our company and our team. We are proud of what we’ve accomplished as part of Halma, and we’re thrilled to partner with Saothair. Their long-term mindset, operational expertise, and commitment to supporting growth will help us accelerate our strategic initiatives while delivering the quality, service, and innovation our customers expect.”
Kaid Cousineau
