Ascend Advises Fidelity Building Services Group on its Acquisition of AIR Technologies

AIR Technologies is the 13th organization to join the Fidelity BSG portfolio and the first in the Oklahoma region to become part of the national brand.

TYSONS, VA (October 18, 2021) – Ascend Capital Group (“Ascend”) served as the buy-side advisor to Fidelity Building Services (“Fidelity BSG”), a premier provider of high-performance building solutions, on its acquisition of AIR Technologies, a Mechanical/HVAC service provider. Over the past year, Ascend has closed four acquisitions that support Fidelity BSG’s strategy to expand its services and geographic footprint.

Based in Oklahoma City, Oklahoma, AIR Technologies has provided Mechanical/HVAC services to commercial and industrial buildings since 1976. Using leading-edge technology, it specializes in a wide range of Mechanical/HVAC services, including engineered retrofits, planned maintenance and repairs, sheet metal fabrication, process and natural gas piping, and building management systems, among others.

Over the last four decades, AIR Technologies has enhanced its service line offerings to meet evolving industry needs, including energy conservation, indoor air quality, and building automation systems. Today, the mechanical expert focuses on commercial, industrial, and governmental projects. AIR Technologies has been named part of “The Metro 50” by the Greater Oklahoma City Chamber of Commerce for the past eight years.

“The Fidelity BSG Team is very excited to welcome AIR Technologies to our growing portfolio of companies,” said Dave Lanphar, Fidelity BSG CEO/Partner. “Its commitment to service excellence, technical capabilities, and a strong team culture makes them a natural fit for Fidelity BSG. I enthusiastically welcome all of the new team members.”

With over 1,700 team members, 30 locations in 13 states, and 75+ years of experience, Fidelity BSG is a leading provider of integrated technical building services for the commercial and industrial facilities market. Product and service offerings include emergency generators/power systems, building mechanical/HVAC systems, building automation & controls, and systems integration, with its core markets being commercial, industrial, and institutional facilities. Fidelity BSG is a portfolio company of Oaktree Capital Management.

AIR Technologies is the 13th organization to join the Fidelity BSG portfolio and is the first in the Oklahoma region to become part of the national brand. With its home base in the Mid-Atlantic, the national integrated technical building services provider also has a strong presence in the South and Gulf Regions of the United States.

“Ascend has advised Fidelity BSG on four key transactions including System Contractors, Smart Building Technologies, Metro Mechanical, and most recently, AIR Technologies,” added Dave Lanphar. “The strong partnership and strategic alignment we’ve created over the past year has allowed Ascend to work as a true extension of the Fidelity BSG team. They have been excellent colleagues and instrumental in achieving our strategic and operational objectives.”

“Fidelity BSG and Ascend’s partnership is defined by focused and efficient processes and aggressive execution,” said Eric Parekh, Managing Director at Ascend. “We’re grateful for clients like Fidelity BSG that have highly capable and diligent leadership along with a laser focus on executing its corporate strategy. This unique combination has laid the foundation for continued growth and innovation from an organization that’s already considered a market leader in the integrated technical building services space.”

This acquisition was effective October 8, 2021.

Contact

Eric Parekh

eric@ascendcg.com | 703.229-9809

Ascend has advised Fidelity BSG on four key transactions including System Contractors, Smart Building Technologies, Metro Mechanical, and most recently, AIR Technologies. The strong partnership and strategic alignment we’ve created over the past year has allowed Ascend to work as a true extension of the Fidelity BSG team. They have been excellent colleagues and instrumental in achieving our strategic and operational objectives.

About Fidelity BSG
About Fidelity BSG

Fidelity BSG was founded in 1945 as a full-service mechanical engineering, contracting, and service company that introduced air conditioning, refrigeration, and process cooling to a new marketplace. The advent of air conditioning went on to revolutionize the entire building industry and Fidelity BSG has been on the leading edge ever since. Today, its geographic footprint has grown beyond the Mid-Atlantic, extending throughout the South and the Gulf Region, establishing itself as a premier provider of high-performance building solutions. For more information, visit fidelitybsg.com.

About AIR Technologies
About AIR Technologies

Since 1976, AIR Technologies has been providing exceptional Mechanical/HVAC services to businesses throughout the greater Oklahoma City region with a focus on commercial, industrial, and governmental projects. Its service line offerings include a full range of design/build services, sheet metal fabrication, piping services, building management systems, welding, refrigerant conservation and computer room air conditioning design, installation, and service. For more information, visit airtech-ok.com.

Next Up:

In the News, Insights

Ascend Featured in achrnews.com—Why Owning the HVAC Workflow is Driving Record Valuations

May 23, 2022

Our News

Ascend Welcomes Tanner Truelove and Jesse Herr to the Team

May 17, 2022

In the News, Our News

Ascend Wins Multiple Awards Highlighting An Impressive 2021

May 10, 2022