Air Cooled Exchangers (“ACE”) is a manufacturer of high‐quality, custom engineered air‐cooled heat exchangers serving the energy industry. The majority of ACE’s products are found in natural gas compression packages, which are deployed to regulate the flow of gas wherever it is produced, transported, processed, stored and delivered. Other applications include gas refrigeration and processing plants, and standby power generation.
ACE’s CEO and his two children were 100% owners of the business which had grown rapidly over the prior ten years. The family wanted to diversify its net worth while maintaining operating leadership of the business. The transaction with Clearview allowed them to monetize the majority of the value in the company while maintaining a 40% equity stake in the recapitalized business.