APi Group to buy Airco Mechanical

Industrial Distribution staff -- Industrial Distribution, 9/22/2008 10:21:00 AM

APi Group Inc. agreed to acquire Airco Mechanical Inc. for an undisclosed amount, the Sacramento Business Journal reported (registration required).

Airco, the Sacramento area’s largest commercial HVAC contractor, employs 400 workers and expects to post sales of $86 million for fiscal 2008. The deal is expected to close by Sept. 30.

St. Paul-based APi is a privately-held holding company owns a number of fire and personal safety and industrial and specialty construction subsidiaries, including API Distribution, Viking Automatic Sprinkler Co., United States Fire Protection Inc. and Doody Mechanical Inc.

Airco will operate under its own banner, with its current management team and workforce intact, marketing and safety head Wyatt Jones told the newspaper. Founder James Jones will retire after 30 years leading the firm.

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