Private Equity Firm Rotunda Capital Partners has acquired a well-known maker of Advanced Driver Assistance Systems (ADAS) calibration equipment.
Rotunda announced the purchase of AirPro Diagnostics on February 25. According to Rotunda officials, the Bethesda, Maryland-based group “is an operationally oriented private equity firm focused on transforming family-founder owned companies into dynamic, data-driven platforms able to achieve and manage significant growth.”
AirPro is based in Evanston, Illinois, and offers the popular Auggie recalibration system plus the new Auggie AIr.
An AirPro Diagnostics spokesperson says that the company, which was purchased by Rotunda Capital Partners, will continue to offer the same tools, equipment and service.
“We are thrilled to partner with the AirPro team to build upon the company’s already strong value proposition centered around technical expertise, innovation and precision solutions,” says Ryan Aprill, managing director at Rotunda. “…Our investment will empower AirPro to further enhance its capabilities and will solidify the company as the go-to partner for OEM-compliant ADAS solutions.”
Bob Wickham, a Rotunda managing partner, says the firm plans to work with AirPro “to expand into new geographies and end markets, pursue add-on acquisitions and continue the company’s strong momentum with new and existing customers.”
According to Rotunda officials, AirPro’s current management will still have a “meaningful ownership stake in the company.”
“With Rotunda as our partner, we are excited to accelerate our growth and continue to provide best-in-class solutions for our customers,” says AirPro President Josh McFarlin. He will continue leading day-to-day operations, Rotunda officials say.
Lonnie Margol, AirPro’s founder, will be the executive chairman of AirPro after its transition.
“AirPro was founded on the principle of providing the most accurate, efficient and high-quality diagnostic and calibration solutions to automotive repair facilities,” he says. “We look forward to building upon this foundation to continue delivering exceptional solutions for our customers.”
An AirPro spokesperson tells glassBYTEs/AGRR magazine that the acquisition is not expected to impact the company’s business model, tools/equipment or customer service.
This is a great article . Air Pro is an industry leader with proven technology adaption techniques in ADAS Calibration. Looking forward to their expansion plans as they have proven to support the existing client base.