Faegre Drinker Advises Caltius Equity Partners in Sale of Air Conditioning Innovative Solutions, Inc.

A Faegre Drinker team led by Ryan Miske and Adam Rosenthal represented Los Angeles-based private-equity firm Caltius Equity Partners (Caltius) in the sale of its majority stake in Air Conditioning Innovative Solutions, Inc. (ACIS) to Atlantic Street Capital Partners V, LP, a Stamford, Connecticut-based investment firm. ACIS is a leading provider of commercial heating, ventilation, and air-conditioning services throughout Texas. Faegre Drinker assisted Caltius in the initial platform acquisition of ACIS in 2019 and with two add-on acquisitions prior to the sale. Caltius will retain a minority equity stake in the post-closing ACIS business and a seat on ACIS’ board.

The deal team also included corporate associates Sam Marll, Conor White and Dan Fitzpatrick.

Additional advisers from the firm included environmental and real-estate partner Paul Moe; intellectual-property partner Craig Komanecki; tax partner Charles Bybee; benefits partner Page Fleeger; executive-compensation associate Mark Rosenfeld; corporate partner Nicole Leimer and corporate associate Richard Bennett; and labor and employment partner Daniel Prokott.

Caltius was founded in 1999 in Los Angeles, California and has been a source of private capital to leading lower middle-market companies for over 20 years.

Read Caltius’ press release for more information on the deal.