GERMANTOWN, WI — Innovative Motion Technologies (IMT), the parent company of Raffel Systems, announced that it has acquired Allentown, NJ-based Micro-Air, a designer and manufacturer of electronic controls for heat and air conditioning applications in the RV, marine, and residential industries.
Founded in 1983, Micro-Air sells primarily to the aftermarket through its e-commerce presence and through distributors, in addition to its OEM customers.
“The mission of the IMT platform is to bring innovation and technology, through enhanced functionality, to the products into which they are integrated across a multitude of end markets served by the IMT companies,” said IMT’s subsidiary Raffel Systems President Rich Weeden. “Micro-Air fits perfectly into that mission with its brand that is well known and deeply respected for its heritage, innovation, quality, and customer service. We see tremendous potential through this acquisition to deepen IMT’s and Raffel’s existing end markets and expand into new end markets while building upon the innovative designs and features that Micro-Air has provided to the RV, marine, and residential electronics markets.”
IMT’s investment in Micro-Air will create end market, channel, and geographical diversification for its platform. The platform will benefit from cross-channel and cross-market sales opportunities, benefitting from each subsidiary’s strong distributor and OEM relationships. Micro-Air’s e-commerce expertise and direct-to-consumer channel will also provide Raffel an accelerated path to grow aftermarket sales. In addition, Micro-Air will provide additional supply chain diversification through its long-standing U.S. manufacturing presence.
The Micro-Air team will remain in place. Andy Spaziani, founder of Micro-Air, will continue in his current role while becoming an advisory Board member and shareholder of IMT alongside Cathay Capital and Management. Rich Weeden, Raffel President, will expand his role to oversee the combined business. “We are thrilled to welcome Andy and the Micro-Air team to the IMT family,” said Mark Woods, chairman of IMT, and partner and head of North American private equity at Cathay Capital, the largest shareholder of IMT. “We look forward to leveraging their sales presence, engineering talent, and infrastructure to further accelerate Micro-Air’s already impressive growth profile.”
All Micro-Air products will continue to be designed and manufactured at the company’s Allentown, NJ facility. Both Raffel Systems and Micro-Air will continue to operate and market products under their respective brand names.