Blackstone acquires AIR

JANUARY 8, 2026

Blackstone acquires AIR (Madison Dearborn)

TARGET

Air Control Concepts acquires and supports local commercial HVAC, electrical, and controls companies across North America under a shared-services platform model.

Ownership	PE-backed · Madison Dearborn Partners (prior owner); Madison Dearborn Partners, Blackstone
Capital raised	$400M
Headcount	1,900 FTEs
Headquarters	Norfolk, Virginia
Leadership	Brad Hobbs, Founder, President and CEO Hayden Bland, COO (AIR Control Concepts)
Sell-side advisor	—

ACQUIRER

Blackstone

Global alternative asset manager

Headcount	5,285 FTEs
Headquarters	New York, New York
Deal team	Seth Meisel, Senior Managing Director Karl Eber, Managing Director
Buy-side advisor	Centerview Partners; RBC Capital Markets

Share deal Copy details View press release ↗

Blackstone -> AIR  (2026-09-18)
sponsor_exit | Horizontal SaaS | announced
Target: Air Control Concepts acquires and supports local commercial HVAC, electrical, and controls companies across North America under a shared-services platform model.
Website: aircontrolconcepts.com | Buyer site: blackstone.com
HQ: Norfolk, Virginia | Ownership: pe-backed | Seller: Madison Dearborn Partners | Buyer ownership: public (NYSE:BX)
Advisors - Buy-side: Centerview Partners; RBC Capital Markets
Source: Thematic - https://thematichq.com/software/d/blackstone-air.html

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