Airxcel, Inc., a Wichita, Kansas-based manufacturer of a broad range of climate control solutions, received a subordinated debt and equity investment from Yukon Partners.
One Rock Capital Partners sponsored the transaction while subordinated debt financing was provided by Yukon, Freedom 3 Capital, and Babson Capital Management. Senior financing was led by GE Antares Capital and Citizens Financial Group.
The amount of the transaction was not disclosed.
Airxcel manufactures a broad range of climate control solutions and related products, including air-conditioners, heat-pumps, cooking appliances, furnaces, powered vents, and water heaters. Airxcel’s products are sold into various end-markets including recreation vehicles, school classrooms, multi-family living, industrial/commercial applications, and telecommunication enclosures.
The company markets its products under the brands Coleman-Mach, Suburban, Maxxair, and Marvair. It has more than 750 employees at three manufacturing locations in Kansas, Georgia, and Tennessee.