Blackstone Makes Additional Investment in AIR Control Concepts
Simpson Thacher advised funds managed by Blackstone’s private equity strategy for individual investors in connection with the acquisition of Madison Dearborn Partners’ remaining equity stake in AIR Control Concepts (“AIR”), following Blackstone’s original investment in July 2024. With this transaction, Blackstone becomes AIR’s sole institutional investor.
AIR partners with and supports leading commercial HVAC equipment manufacturers and is headquartered in Norfolk, Virginia.
The Simpson Thacher team included: Anthony Vernace, William Allen, Theresa Scharff and Tris Cox (M&A); Jonathan Goldstein and Jessica Berman (Tax); Brian Gluck and Adam Moss (Credit); and Gregory Grogan and Joshua Stephens (Executive Compensation and Employee Benefits).