Corinthian Capital Takes in Friedrich Air Conditioning
November 30, 2012
Corinthian Capital Group has acquired Friedrich Air Conditioning, a San Antonio-based manufacturer of air conditioners. Kayne Anderson Mezzanine Partners and Regions Business Capital provided financing for the transaction, with Kayne Anderson and Friedrich senior management making minority equity investments in the company, as well. Friedrich focuses solely on air conditioner manufacturing, offering a product line that includes built-in units, window installations, wall installations and portable air conditioners. New York-based Corinthian Capital invests in niche manufacturing, distribution and service businesses with EBITDA between $5 million and $30 million, located primarily in North America.