Cision PR Newswire

Investment Will Anchor Platform in Automobile Aftermarket HVAC Equipment

WASHINGTON, Nov. 13, 2024 /PRNewswire/ -- Halifax Group ("Halifax"), a middle-market private equity firm that partners with management to invest in market-leading companies, today announced that it has completed an investment in Universal Air Conditioner, LLC ("UAC" or the "Company"), a designer and distributor of branded aftermarket HVAC equipment primarily for passenger vehicles. Halifax partnered with co-CEOs Francisco Coll and Sophia Coll Crowley, who will continue to lead the business and retain a significant ownership stake in the Company. Terms of the transaction were not disclosed.

"We are excited to continue Halifax's legacy of investing in the automotive aftermarket sector by partnering with Francisco, Sophia, and the UAC management team," said Jamie Cavanaugh, Principal at Halifax. "As the first institutional capital in the business, we look forward to working with management to build on an already impressive foundation that will support a much larger platform and position the Company to thrive in its next phase of growth."

Based in Mansfield, TX, UAC designs and distributes aftermarket auto parts for cars, trucks and heavy-duty equipment. Its branded product lines are focused on temperature control and engine cooling.

Mr. Coll and Ms. Coll Crowley commented, "We are excited and reinvigorated to choose Halifax as our partner as we build our business for the future. The firm's culture, resources, deep knowledge of our industry sector, and relationships will help us accelerate our expansion plan."

"UAC's full line of products and superior quality, together with its robust customer support capabilities, have propelled the Company into a fast-growing participant in the attractive HVAC aftermarket," added Doug Hill, Senior Partner at Halifax. "We are eager to collaborate with the UAC team to develop innovative strategies together that advance the Company's growth trajectory."

UAC is Halifax's fourth platform in the automotive aftermarket, following the firm's investments in Meineke Car Care Centers, Service Champ, and Stinger.

About Universal Air Conditioner
Founded in 1988, UAC designs and develops high-quality automotive and truck air conditioning parts for the aftermarket. Its products include compressors, evaporators, hose assemblies, condensers and a variety of electrical components. The Company is headquartered in Mansfield, TX.

About Halifax Group 
Founded in 1999, Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and invest in lower middle-market businesses with total enterprise values generally between $100 million and $300 million. Halifax specializes in equity recapitalizations, corporate carve-outs, and management buyouts and invests across a variety of industries, including health and wellness, outsourced business services, and franchising. The firm is headquartered in Washington, D.C. and maintains an office in Raleigh, NC.

Contact:
Caroline Luz
Lambert by LLYC
203-570-6462
cluz@lambert.com

 

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SOURCE Halifax Group