OKLAHOMA CITY — AirX Climate Solutions Inc. (ACS), a full-service specialty HVAC company, on Wednesday acquired Powrmatic USA, a specialty HVAC design and manufacturing company that provides cooling and heating air-turnover products and solutions.
Powrmatic, located in Finksburg, Maryland, with approximately 30 employees, is a manufacturer of commercial and industrial heating and cooling systems and OEM heat exchangers. Powrmatic has helped shape the industrial and commercial air-turnover market for more than 70 years by producing solutions that provide customers savings upwards of 50% when compared to other systems, a press release from ACS said.
“Powrmatic is highly complementary to the overall ACS portfolio,” said Rick Aldridge, CEO at ACS. “Powrmatic’s legacy, brand, and technical solutions speak for themselves in the market, and we believe when combined with ACS’ robust commercial presence in the specialty HVAC landscape, together we will be able to unlock significant growth opportunities. Further, its strong presence in the mid-Atlantic/Eastern region of the U.S. is additive to ACS’ growing footprint.”
“Today’s transaction represents yet another milestone for Powrmatic and presents an exceptional opportunity for me and the entire Powrmatic team to lean into the massive growth opportunity we see in front of ourselves,” said Bob Ramsay, president of Powrmatic, who will continue to lead the business.
The Powrmatic acquisition follows the ACS acquisition in July acquisition AboveAir Technologies, based in Frederick, Maryland. ACS is a portfolio company of Gryphon Investors, a middle-market private-equity firm managing approximately $9 billion in assets. Gryphon invested in ACS in November 2023.
Today’s transaction represents the final divestment by Stamm International Corp., bringing to a close an association with the HVAC sector that stretches back more than 90 years. “I’m thrilled to partner with ACS, whose vision presents an exceptional opportunity for Powrmatic’s employees and for the legacy of the brand in the future,” said Stamm International CEO Marilyn Skony Stamm.
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