Del Air Receives Investment from Leading Private Equity Firm

ORLANDO, Fla., Nov. 9, 2022 /PRNewswire/ -- Del-Air Heating and Air Conditioning ("Del-Air" or the "Company") announced today that it has received a growth investment from Astara Capital Partners, LLC ("Astara"). Employees of the Company will continue to own a material stake in the Company. Headquartered in Sanford, Florida, Del-Air is a leading provider of HVAC residential new construction installations, HVAC home services, plumbing, electrical home services and replacements, and light commercial HVAC services and replacements throughout the Florida market.

Founded in 1983, Del-Air has grown to over 600 employees with locations in Sanford, Davenport, Clermont, Jacksonville, Melbourne, Tampa, and Sarasota, Florida. Del-Air serves many of the largest volume home builders in these markets and over 17,000 residential and commercial customers.

Chad Barton, an Operator with Astara Capital Partners and Chairman of the Del-Air Board of Directors, said, "The Astara team is thrilled to add Del-Air to our portfolio. With a few key additions to management, we have assembled a leadership team that has a proven track record of growing both HVAC residential new construction and HVAC home services businesses. Together we will build upon Del-Air's position as the premiere HVAC platform in the Florida market." 

Del-Air has deepened its management team by adding new positions and recruiting experienced leaders from the industry who have over 100 combined years of trades experience. These individuals include Rick Rogers (CEO), Faizzy Saghir (COO), Nicole Lemieux (CHRO), and Greg Faris (VP Residential New Construction Business Development). 

"We are excited to join and lead a company with such a great legacy. Del-Air has exceptional brand awareness, employee tenure, customer focus and growth potential," said Rick Rogers, CEO of Del-Air Heating and Air Conditioning. "As a result of Astara's investment, Del-Air will be debt free and have the liquidity to invest in its people, fleet, and systems. Importantly, we will invest in and substantially grow both the new construction and the home services divisions of the Company."

"Our leadership team's focus on employee training and development will position Del-Air to continue to be the employer of choice," said Faizzy Saghir, COO of Del-Air Heating and Air Conditioning. "Our deep history of success in the residential HVAC industry, combined with investments in systems and capabilities to serve our customers, will allow us to provide a best-in-class experience to our customers."

Nicole Lemieux, CHRO for the Company Del-Air adds, "It's refreshing to see Del-Air's impressive employee tenure and engagement. Our goal is to build on this great foundation."

"We will add resources to expand our ability to serve our builder customers and pave the way for Del-Air to capture an even larger share of the Florida HVAC residential new construction market," said Greg Faris, VP RNC Business Development of Del-Air Heating and Air Conditioning.

Details of the transaction were not disclosed.

Astara Capital Partners is an integrated team of investors and operators investing in the middle market. The firm brings capital, strategic, and operational resources to its investments to build sustainable value and position them for long-term success. Astara focuses on a variety of sectors where it has deep experience, including packaging and converting, food, building products, forest products, and industrial manufacturing, distribution, and services. More information about Astara can be found at www.astaracapital.com.

Headquartered in Sanford, Florida, Del-Air is a leading provider of residential HVAC installation and service, plumbing, electrical home services and replacements, and light commercial HVAC services and replacements throughout Florida. Del-Air operates in seven locations including Sanford, Clermont, Davenport, Melbourne, Jacksonville, and Tampa, Florida. For more information, please visit www.delair.com.

Media Contact:

Rob Haines
407-476-3651
[email protected]

SOURCE Del-Air Heating Air Conditioning Plumbing and Electrical