Neuberger Announces Single-Asset Continuation Vehicle for Axis Portable Air

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Apr 08, 2026, 09:30 ET

NEW YORK, April 8, 2026 /PRNewswire/ -- Neuberger, a private, independent, employee-owned investment manager, is pleased to announce that we have partnered with Tailwind Capital ("Tailwind"), an established middle market buyout manager, to create a single-asset continuation vehicle for Axis Portable Air ("Axis"). Additional financial terms of the transaction were not disclosed.

Axis is one of Tailwind's highest conviction portfolio companies, and the new partnership provides additional time and access to capital to support the continued growth of Axis, while offering existing investors in Tailwind funds options for accelerated liquidity or continued investment. The transaction marks the latest middle market continuation vehicle that Neuberger has capitalized as the sole lead investor.

Commenting on the investment, Boriana Karastoyanova, a Managing Director at Neuberger, said: "We are delighted to partner with Tailwind and the strong leadership team at Axis to support their continued success."

Michael Pan, a Managing Director at Neuberger, added: "This transaction demonstrates our approach to investing in high-quality, market-leading companies with strong competitive positions and sustainable long-term growth."

Since its founding in 2019, Axis has provided temporary climate control and restoration equipment rentals for commercial and industrial customers nationwide. Driven by strong employee alignment and unique collaborative corporate culture, Axis is hyper-focused on its customers with 24/7 service year-round and strives to build the industry's fastest growing and most respected climate control organization.

Tristram Perkins and Ben Perl, Co-Heads of Secondaries at Neuberger, shared: "We continue to believe in the value and optionality continuation funds can provide to existing limited partners, fund managers, management teams and other key stakeholders. Since raising our first dedicated GP-led fund, our platform has been one of the most active lead investors in the space, committing approximately $10 billion across nearly 50 transactions."

PJT Partners served as exclusive financial advisor to Tailwind and Axis. Davis Polk & Wardwell LLP acted as legal counsel for Tailwind. Simpson Thacher & Bartlett LLP acted as legal counsel for Neuberger.

About Axis Portable Air

Founded in 2019, Axis Portable Air provides temporary climate control and restoration equipment rentals for commercial and industrial customers nationwide. With a growing network of locations across the U.S., Axis supports manufacturing, construction, healthcare, education, and events by delivering reliable portable air conditioning, heating, dehumidification, and air filtration solutions backed by expert service. For more information, please visit www.axisair.com.

About Neuberger Private Markets

Neuberger Private Markets is a division of Neuberger Berman and has been an active and successful private markets investor since 1987. Neuberger Private Markets invests across strategies, asset classes, and geographies for a large number of sophisticated and renowned institutions and individuals globally. As of September 30, 2025, Neuberger Private Markets manages over $150 billion of investor commitments across primaries, co-investments, secondaries, private credit, and specialty strategies. Neuberger Private Markets has an experienced and diverse team of over 470 professionals with a global presence in 16 offices globally

About Tailwind

Tailwind Capital is a private equity firm with a 20+ year track record and ~$6 billion of committed capital focused on growth-oriented equity investments in middle market Industrial Solutions and Technical Services companies. Tailwind seeks to scale businesses both through accretive acquisitions and operational investments, including foundational resourcing, professionalizing operations, implementing technology capabilities and investing in talent. Since inception, Tailwind has invested in over 50 portfolio companies and over 250 add-on acquisitions. For more information, please visit www.tailwind.com.

Media Contacts: Neuberger: [email protected]

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