Houlihan Lokey Advises Air Comm Corporation

Houlihan Lokey is pleased to announce that Air Comm Corporation (Air Comm) has been acquired by Arcline Investment Management (Arcline). As part of the transaction, Dave Harrison, one of the primary shareholders, will remain a significant minority shareholder and serve as Chairman of Air Comm’s board of directors. Houlihan Lokey and ANV Partners served as the financial advisors to Air Comm. The transaction closed on July 1, 2021.

Founded in 1987, Air Comm designs, manufactures, and services environmental control systems, thermal management systems, and other accessories for the aerospace and defense industry. The company serves a global customer base of leading OEMs, fleets, and aftermarket service providers from its world-class team and manufacturing facility located in Westminster, Colorado.

Arcline is a growth-oriented private equity firm that seeks to invest in middle-market businesses in high-value industries. The firm’s primary sectors of interest include defense, aerospace, critical infrastructure services, industrial and medical technology, life sciences, and specialty materials.

Houlihan Lokey’s Aerospace, Defense & Government (ADG) practice within the global Industrials Group is a leading M&A advisor to aerospace, defense, and government services companies. Since 2020, the team has closed more than 35 transactions worth over $7.2 billion in enterprise value. With a staff of approximately 30 investment bankers in Washington, D.C., London, and Los Angeles, Houlihan Lokey’s ADG practice is among the largest dedicated industry banking groups worldwide. In 2020, the Industrials Group was once again ranked as the No. 1 M&A advisor for all U.S. industrial transactions, according to Refinitiv.