Meriton is focused on expanding its capabilities and talent across commercial HVAC equipment sales, parts, service, and hydronics, and adding AEC to its network brings additional systems design and application expertise to the organization, Meriton said. With the addition of AEC, the Meriton network of HVAC representatives will include nine companies across 13 states.

Kentucky’s economic outlook is the brightest it has been in a generation, Meriton said. The project pipeline for both private and institutional construction continues to grow even after record investment and job growth. The region is experiencing a construction boom, with expansion happening across core industries, including advanced manufacturing, health care, electric vehicle (EV) battery manufacturing, and the expansion of colleges and universities. According to the Louisville Metro Department of Economic Development, the number of projects, new investment, and jobs created in 2023 could outpace the 2022 levels.

“This is a great time to invest in the Kentucky and Southern Indiana markets,” said Meriton CEO Jerry Braun in the press release. “Air Equipment Company has built a strong reputation of high quality, innovative solutions for some of the most challenging environments, and we share a relentless focus on results, making them a great fit for our organization.”

"We are very excited to become part of the Meriton team and the opportunity it brings to our people, our customers, and our strategic partners,” said Chip Summers, CEO of Air Equipment Co.

The financial terms of the transaction were not disclosed.