July 29, 2005: Airxcel Purchased By Management Team
WICHITA, Kan. - Airxcel Inc., a designer, manufacturer, and marketer of air conditioners, furnaces, water heaters, and cooking appliances for the RV industry and HVAC equipment for the telecommunications, school, modular structure, and marine markets, announced that its parent company, Airxcel Holdings Inc., has entered into a definitive agreement to sell the company to a group of current managers of Airxcel and a newly formed company organized by Bruckmann, Rosser, Sherrill and Company Inc. (BRS), a private equity firm based in New York.
The transfer is subject to customary closing conditions and is targeted to close by the end of August 2005. All financing necessary to complete the transaction is committed, says the company.