Conditioned Air Company, the leading residential HVAC service and new construction services provider in Southwest Florida, proudly announces the acquisition of A/C Designs of St Augustine. Conditioned Air has been providing quality services since 1962 and is consistently recognized as the best of the best in the communities they serve. This acquisition marks the second acquisition in 8 months for Conditioned Air as it executes on its strategic growth strategy. A/C Designs was founded in 2002 by Ed Tennant and has become the leading residential HVAC service and new construction service provider in Northeast Florida. Likewise, A/C Designs is consistently recognized as the best of the best in the communities the
y serve. The companies’ combined operations cover some of the fastest growing areas of Florida, with the combined enterprise representing one of the largest organizations focused on residential HVAC service in Florida.
Greg Johnson, Executive Chairman and CEO of Conditioned Air, shared his enthusiasm about the partnership, saying, “We are excited to partner with A/C Designs, a company that has an outstanding culture and a quality reputation. This relationship allows us access into the Northeast Florida region. I am personally honored to work with Corey and his leadership team as we accelerate their growth.”
A/C Designs, led by President Corey Tennant, has been a family-driven enterprise with a rich history in the HVAC industry. Corey Tennant expressed his excitement for the collaboration, stating, “I have spent my professional career helping my father build A/C Designs to what it is today. I always dreamed of being able to take A/C Designs to the next level, and with the knowledge and help of Conditioned Air, we are going to make those dreams come true.”
Ed Tennant, founder of A/C Designs, and a seasoned HVAC veteran with 40 years in the industry, sees this acquisition as an opportunity to secure the future of his company. “After four decades in the HVAC business and building A/C Designs to be one of the largest companies in Northeast Florida, I want the company to continue to prosper and grow, and I want to give A/C Designs the best opportunity to sustain that growth. I chose Conditioned Air to partner with to take the company to the next level, as their business plan and core values align with ours. I very much look forward to watching the continued success of A/C Designs.”
The company looks forward to leveraging the strengths of both organizations to provide enhanced residential home services in Florida.
Conditioned Air is a portfolio company of Gemini Investors. Founded in 1993, Gemini Investors is a private equity investor based in Massachusetts that focuses on investing in middle market leaders with strong growth prospects. Since inception, the firm has invested more than $700 million in over 170 companies throughout the U.S. Currently investing its seventh institutional equity fund, the firm seeks to partner with established businesses and experienced management teams that have strong operating histories and significant growth potential. Although Gemini invests across industries, it has significant experience investing in HVAC related businesses. For more information on Gemini Investors, please visit www.gemini- investors.com.
Genesis Park, a Houston-based private credit and equity investment firm, provided a debt and equity investment to support the transaction. In addition, Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, provided a lending package to facilitate the transaction. West 4th Capital acted as A/C Designs’ advisor in the transaction.
