US-based private equity firm, Olympus Partners has announced the acquisition of Omega Environmental Technologies, an aftermarket manufacturer and distributor of climate control products across the light and heavy-duty automotive sectors via a press release dated 31 March.
Olympus Partners has acquired Omega from AEA Investors, which will remain a minority equity investor and retain a board position in the company. Omega serves thousands of customers globally across the wholesale distribution, OE service, and automotive retail channels. The company is headquartered in Irving, Texas, and has over 20 distribution centers across the United States and Canada.
Significance: "The replacement air conditioning market is very attractive, with steadily growing demand and high barriers to entry due to the technical nature and SKU intensity of the product. Omega is the leader in this category with a portfolio of powerful brands and complete end market coverage. We look forward to working with Peter, Randy, and the rest of the management team to continue grow the Company,” said Jason Miller, Partner at Olympus.
Peter Butterfield, chairman of Omega, added, “I would like to thank AEA for their support over the past few years and look forward to partnering with the Olympus team. I have never been more excited about the prospects of the company.”