312-494-9800
citycap@city-cap.com
Chicago, Illinois – July 1, 2024; City Capital Advisors, a Chicago-based middle market investment bank, is pleased to announce that it acted as the exclusive financial advisor to Research Products Corporation (RPC), the parent company of AprilAire®, in the acquisition of EWC Controls Inc., a company best known for its role in the zoning sector.
“RPC is making a strategic acquisition to grow its position in the premium indoor air quality market by acquiring EWC Controls, a leader in HVAC zone control design and solutions,” stated Dale Philippi, Research Products Corporation CEO. “The acquisition positions RPC to take the No. 1 position in zoning,” Philippi added.
EWC, located in New Jersey, is a family-owned business that started in 1961. Prior to becoming a wholly-owned subsidiary of RPC, EWC Controls was on its third generation of family ownership.
“Our goal continues to be to collaborate closely with our customers in order to exceed their expectations,” Mike Reilly, EWC Controls President stated. “Our commitment is to provide exceptional service with the highest quality products, and our mission is our customers’ success.” EWC will continue to support contractors and distribution with “the best service, quality, and technical expertise in the industry.
“Zoning is a key component to delivering Healthy Air to every home,” CEO Philippi stated. “We are excited to add the EWC lineup of zoning to our portfolio of Healthy Air products. We have an unparalleled reputation as the brand of choice among tens of thousands of professional contractors and make a Healthy Air difference in the lives of the millions of people who rely on our products every day,” continued CEO Philippi.
“City Capital was pleased to advise RPC on this successful transaction and clearly RPC has further strengthened its position as a premier national leader in healthy air solutions industry,” said Managing Director Nicholas Hurtgen.
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Contact: Nicholas Hurtgen at City Capital: 312-494-9807
About Research Products Corporation (RPC)
Headquartered in Madison, Wisconsin since 1938, Research Products Corporation (RPC) has been dedicated to designing and manufacturing healthy air solutions for residential and commercial environments. Known for its premium indoor air quality products under the AprilAire® brand, RPC has earned an unparalleled reputation as the brand of choice among professional contractors. RPC’s family of brands includes AprilAire, DriSteem™, Kleen-Gard®, EZ Kleen®, Anden®, and EWC Controls®. These brands represent RPC’s comprehensive approach to air quality, covering a wide range of needs from residential to commercial applications. Learn more at researchproducts.com
About EWC Controls, LLC (EWC)
EWC Controls LLC, is a wholly-owned subsidiary of RPC located in New Jersey, Prior to the acquisition by RPC, EWC was a family-owned business that started in 1961. EWC Controls began as a manufacturer of power transformers for military and commercial use. EWC Inc. transformers have been used in smart guided missile systems, helicopters, airplanes, the space shuttle, and many other applications. Leveraging its extensive experience, EWC formed EWC Controls in 1988 to enter the HVAC industry. By 1999, EWC had sold its transformer business to focus exclusively on providing reliable comfort solutions for homeowners, wholesalers, and contractors. Today, EWC manufactures a range of HVAC zoning solutions and controls designed to optimize comfort and efficiency in residential and commercial environments. Learn more at ewccontrols.com
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-oriented investment banking advisory firm. Each of City Capital’s Managing Directors has more than 20 years of investment banking experience, offering clients the judgment and transaction management expertise honed from successfully executing more than $60 billion of collective merger and capital market transactions. Client engagements are managed exclusively by experienced senior investment bankers, allowing business owners to capture maximum value for their companies and to exceed shareholder objectives.