Microf LLC, a provider of residential lease-to-own products for the HVAC industry, raised $96.7 million in growth capital. The combined debt and equity raise is funded through a new $40 million committed senior debt facility provided by Atalaya Capital Management with an additional $40 million accordion feature; a new $10 million senior debt facility provided by Microf’s existing lender, BrandBank; and $6.67 million in equity provided by current equity investors.
Not even a devastating earthquake and tsunami could keep two of the world’s leading HVACR companies from completing an acquisition this November. That is why The NEWS has chosen Takeshi Ebisu of Daikin Industries Ltd. and Dave Swift of Goodman Global Group Inc. as 2012 NEWSmakers.
The residential end of the HVAC industry used to operate under the premise that it was weather driven. If we had a hot early summer, then it would be “Katy, bar the door” on sales of new central air conditioning systems. Well, we just had a hot early summer and what happened? Not much.