Citizens Financial Group Inc.
04/15/2021 | Press release | Distributed by Public on 04/15/2021 07:07
Citizens Advises Air Purchases of New Hampshire on its Sale to Munch’s Supply, a Portfolio Company of Ridgemont Equity Partners
04/15/2021
PROVIDENCE, RI- Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Air Purchases of New Hampshire, Inc. ('API') in its sale to Munch's Supply, a portfolio company of Charlotte-based Ridgemont Equity Partners.
Headquartered in Manchester, N.H., API is a leading distributor of premium HVAC equipment and accessories for residential and commercial end markets. Established in 1987 by the Engel Family, API has grown its footprint of branch and sheet metal fabrication locations to serve customers across the Northeast. A partnership with Munch's Supply will allow API to accelerate the management team's strategic growth initiatives through both organic and inorganic opportunities.
Bob Engel Jr., president of API, said: '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. We are excited for the future and working alongside the Munch's Supply team.'
Continued Engel, '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.'
Matt Mueller, managing director at Citizens M&A Advisory, said: 'The Engel family and API's dedicated employees have built a tremendous business over the last 30 years. 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.'
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has closed more than 150 transactions in the last five years and has more than 60 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
For more information, please go to the Citizens M&A Advisory website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $183.3 billion in assets as of December 31, 2020. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.comor visit us on Twitter, LinkedInor Facebook.
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