Citizens M&A Advisory served as the exclusive financial advisor to Air Purchases of New Hampshire (API) in its sale to Munch’s Supply, a portfolio company of Charlotte, NC-based Ridgemont Equity Partners.
Headquartered in Manchester, NH, API is a distributor of HVAC equipment and accessories for residential and commercial end markets. API was established in 1987 by the Engel family.
“From the beginning of our interactions with the Munch’s Supply team, we were struck by the similarities between our businesses. From the shared family-owned businesses legacy to our aligned views on core values, similar corporate cultures and a shared focus on providing exceptional customer service, it was clear that a partnership with Munch’s would be successful,” Bob Engel Jr., president of API, said. “We are excited for the future and working alongside the Munch’s Supply team.
“We cannot say enough about the Citizens team and how great they were to work with. Their leadership, guidance and advice throughout the process were exceptional. We are fortunate that we selected Citizens to advise us; we could not have achieved this fantastic outcome without their dedication to API and our success.”
“The Engel family and API’s dedicated employees have built a tremendous business over the last 30 years,” Matt Mueller, managing director at Citizens M&A Advisory, said. “We truly enjoyed working with this talented team of hardworking, great people. We are thrilled that we were able to bring together API and Munch’s Supply in this transaction and are excited to watch the future growth they will achieve together.”
