MERITON ANNOUNCES ACQUISITION OF AIR EQUIPMENT COMPANY EXPANDING ITS GROWING NATIONAL FOOTPRINT INTO KENTUCKY AND SOUTHERN INDIANA
Dallas, TX, February 5, 2023 – Meriton, a leading commercial HVAC manufacturer representative company, announced it has reached an agreement to acquire Air Equipment Company based in Louisville, Kentucky. Air Equipment Company has been serving the Kentucky and Southern Indiana markets for equipment, parts, and service for more than 75 years with a focus on engineering innovative, healthy, critical environments. The company shares Meriton’s commitment to delivering a superior customer experience for all the building owners, consulting engineers, and contractor clients they serve.
Meriton is focused on expanding its capabilities and talent across commercial HVAC equipment sales, parts, service, and hydronics and adding AEC to its network brings additional systems design and application expertise to the organization. With the addition of AEC, the Meriton network of leading HVAC representatives includes nine companies across 13 states.
Kentucky’s economic outlook is the brightest it has been in a generation. The project pipeline for both private and institutional construction continues to grow even after record investment and job growth. The region is experiencing a construction boom with expansion happening across core industries including advanced manufacturing, health care, electric vehicle (EV) battery manufacturing, and the expansion of colleges and universities across the state. The Louisville Metro Department of Economic Development reports that 2023 is on track to outpace the number of projects, new investments, and jobs created in 2022.
“This is a great time to invest in the Kentucky and Southern Indiana markets,” says Jerry Braun, chief executive officer of Meriton. “Air Equipment Company has built a strong reputation of high quality, innovative solutions for some of the most challenging environments and we share a relentless focus on results, making them a great fit for our organization.”
"We are very excited to become part of the Meriton team and the opportunity it brings to our people, our customers, and our strategic partners. Our values, culture, and vision align with Meriton and the resources and collective knowledge of the entire Meriton family of companies will accelerate the growth of Air Equipment Company and provide significant opportunities for our employees," says Chip Summers, PE, and chief executive officer of Air Equipment Company.
The financial terms of the transaction are not disclosed.
Meriton is a business accelerator specializing in acquiring leading manufacturer representative firms and fostering their long-term growth through strategic investments and operational excellence. The company makes investments in top tier organizations and brings them together to maximize their collective potential. Meriton is building a growing network of exclusive manufacturers’ representatives in commercial and industrial HVAC equipment across the country. To learn more: https://meriton.com/