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Citizens Advises Air Conditioning Innovative Solutions on its Sale to Atlantic Street Capital

December 27, 2021, 07:00 AM
Filed Under: HVAC

Citizens M&A Advisory served as the exclusive financial advisor to Air Conditioning Innovative Solutions (“ACIS”), a provider of commercial HVAC and other building services, on its sale to Atlantic Street Capital.

ACIS provides maintenance, repair and retrofit services for HVAC, plumbing and building controls systems to commercial properties across Texas. ACIS was a portfolio company of Caltius Equity Partners, a Los Angeles-based private equity firm. Caltius will retain an equity stake in ACIS.

Mike Nichols, co-founder and chief executive officer of ACIS, said: “The Citizens M&A Advisory team was great to work with, demonstrating extensive knowledge of the industry and a deep appreciation for our founder-built business. Citizens drove an efficient, fast-paced process while working tirelessly to find the optimal partner that aligned with our culture and future growth trajectory.”

Michael Morgan, managing director at Caltius Equity Partners, said: “Citizens did an excellent job managing the ACIS process on behalf of Caltius and the company. Their expertise executing transactions in the commercial and industrial services sectors allowed their team to drive a high-touch, competitive process at rapid speed.”

Jason Wallace, managing director at Citizens M&A Advisory, said: “We are appreciative of the opportunity to work with Caltius and ACIS on its sale to Atlantic Street Capital. ACIS is a highly scalable platform with a compelling value proposition and strong leadership team. We are excited to watch ACIS continue to grow in partnership with Atlantic Street Capital.”

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