Based in Broken Arrow, Oklahoma, Air Cooled Exchangers manufactures air-cooled heat exchangers used to cool gases and liquids in various industrial applications. The majority of ACE’s products are sold to manufacturers of natural gas compression systems used to regulate the pressure of natural gas as it is produced and transported. Other end markets for ACE’s products include refrigeration and processing plants, power generation, and cooling towers for power plants.
Founded in 1964, ACE was the oldest and largest independently owned air-cooled heat exchanger manufacturer in the U.S. ACE’s management team acquired ACE in 2001 and expanded its operations several times as a result of its growing reputation and increased worldwide demand for its products.
Clearview’s investment allowed ACE’s owners to diversify their net worth while maintaining a significant equity stake and operational control of the company. Clearview was chosen as a partner by ACE due to our prior experience in the industry and our ability to provide financial and strategic support for management’s growth plan.
The platform transaction closed on June 29, 2007. Along with management, Clearview invested equity from Clearview Capital Fund II, LP and its affiliates.
Clearview sold ACE on December 31, 2012.