CAI Capital Partners acquires Custom Air Conditioning

CPE Media News – pcJournal (8/1/2018) – CAI Capital Partners has acquired Custom Air Conditioning Ltd., a leading mechanical services provider in British Columbia with more than 70 technicians across the province.

Peter Harteveld, co-founder and CEO of Custom Air, retains a meaningful equity interest and will continue to lead the business and execute on its strategy of becoming the leading mechanical services provider in western Canada.

photo credit: Custom Air Conditioning

News Release

CAI Announces Investment in Custom Air Conditioning Ltd.

Vancouver, BC – August 1, 2018 – CAI Capital Partners (“CAI”) is pleased to announce that it has partnered with Custom Air Conditioning Ltd. (“CustomAir” or the “Company”). CustomAir is a leading mechanical services provider in British Columbia with more than 70 technicians across the province. The Company offers repair, planned maintenance, and installation services for a variety of equipment including heating, ventilation, air conditioning, refrigeration, plumbing, and boilers. The Company is headquartered in Port Coquitlam and has locations throughout the province that serve a diversified portfolio of end-customers including industrial, commercial, and multi-family residential.

Peter Harteveld, CustomAir’s co-founder and CEO, has retained a meaningful equity interest in the Company. Mr. Harteveld will continue to lead the business and execute on its strategy of becoming the leading mechanical services provider in western Canada.

“We are excited to be partnering with Peter and the team at CustomAir,” said Curtis Johansson, CAI Partner. “We look forward to leveraging our past experience in the business services segment and building upon the tremendous platform that Peter and his team have built.”

“The team at CAI has an impressive track-record of working with founder-led businesses and helping them to successfully scale their businesses,” said Mr. Harteveld. “I believe that with CAI as our partner, CustomAir is primed to accelerate its growth while continuing to deliver an exceptional level of service to its customers.”

CAI’s investment in CustomAir marks the fourth investment in its fifth fund and fits with CAI’s strategy of investing in and growing founder-owned businesses in the Canadian lower middle market.

About Custom Air Conditioning Ltd.

Founded in 1991, CustomAir is a leading mechanical services provider in British Columbia, Canada. The Company offers repair, planned maintenance, and installation services for a variety of equipment including heating, ventilation, air conditioning, refrigeration, plumbing, and boilers. The Company is headquartered in Port Coquitlam and has locations throughout the province. For additional information, please visit www.customair.ca

About CAI Capital Partners

CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian lower middle market. Over three decades, CAI has invested C$1.4 billion into companies across North America. For additional information, please visit www.caifunds.com.


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