Pfingsten Partners has sold RapidAir to Gryphon Investors

RapidAir

Headquartered in Auburndale, Wisconsin, RapidAir is a designer and asset-light manufacturer of branded compressed air solutions, including fittings, accessories, piping, tubing and filtration products. Founded in 2003, RapidAir serves as a comprehensive provider of compressed air systems paired with a unique commercial strategy that includes a customer facing eCommerce platform, omnichannel go-to-market approach, superior design and technical support and installation services. RapidAir serves more than 21,000 customers across diverse end markets, including transportation aftermarket and MRO, distribution and warehouses and industrial manufacturing. For more information, please visit www.rapidairproducts.com.

The Deal

During Pfingsten’s ownership, RapidAir experienced significant growth resulting from investments in personnel, upgrades to the eCommerce platform and design tool, expansion into new channels and products and strategic M&A. The company is excited to continue its growth trajectory with Gryphon Investors, who envision a significant opportunity to build a platform of scale, invest in key commercial initiatives, new products and add-on M&A opportunities. Lincoln International served as the exclusive financial advisor to Pfingsten and RapidAir in connection with the sale process.

Our Perspective

Brian Goodwin, Lincoln International Managing Director who led the transaction, commented, “This transaction represents another great example of the strong interest from investors in building a compressed air and engineered components MRO platform. The need for pneumatics and compressed air across the North American manufacturing base continues to grow and accelerate. We look forward to watching the successful partnership of RapidAir and Gryphon.”

Pfingsten Partners

Pfingsten is a private equity (PE) firm founded in 1989. From its headquarters in Chicago, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth. Since completing its first investment in 1991, Pfingsten has raised six investment funds with total commitments of approximately $1.8 billion and has acquired 171 manufacturing, distribution and business services companies. For more information, please visit pfingsten.com.

Gryphon Investors

Founded in 1995, Gryphon is a middle-market PE firm based in San Francisco, focused on profitably growing and competitively advantaged companies in the business services, consumer, healthcare, industrial growth, software, and technology services & solutions sectors. The firm has invested in more than 70 control platform acquisitions and over 550 add-ons, as well as completed more than 30 junior capital investments since 1997. With approximately $9 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. For more information, please visit www.gryphoninvestors.com.

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