12/22/2021
Citizens Advises Air Conditioning Innovative Solutions on its Sale to Atlantic Street Capital
PROVIDENCE, RI – Citizens M&A Advisory announced today that it 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.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach. The Citizens team has closed more than 175 transactions in the last five years and has more than 70 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $187.0 billion in assets as of September 30, 2021. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.
