AIR PROS SOLUTIONS ANNOUNCES ENTRY INTO SIX SEPARATE TRANSACTIONS TO SELL ALL OF ITS BUSINESS UNITS

Service to Customers to Continue Uninterrupted During Sale Process

Sale Transactions to Be Facilitated Through Chapter 11 Proceedings

Company Receives Commitment for $20 Million in New Financing to Support Ongoing Business Operations

PLANTATION, Fla., March 17, 2025 /PRNewswire/ -- Air Pros Solutions, LLC ("Air Pros" or the "Company"), which operates a portfolio of HVAC, electrical, and plumbing businesses across the U.S., today announced that it has entered into six separate asset purchase agreements to sell all of its businesses as going concerns.

To facilitate the sales in an orderly and efficient manner, Air Pros has commenced voluntary chapter 11 cases in the U.S. Bankruptcy Court for the Northern District of Georgia (the "Bankruptcy Court"). The sales will be conducted pursuant to section 363 of the U.S. Bankruptcy Code.

As Air Pros works to complete these sales, the Company and its business units remain focused on continuing to serve customers, work with partners, and support employees on an uninterrupted basis. All of Air Pros' business units will continue to operate as usual during the sales process. 

Andrew Hede, Air Pros' Chief Restructuring Officer, said, "After conducting an extensive review of its strategic alternatives, the Company determined that these transactions represent the best path forward and are in the best interests of all customers, employees, and other stakeholders. As we move through the sales process, our number one priority remains the continued provision of reliable and comprehensive HVAC, electrical, and plumbing services to our valued and longstanding customer base. Each of our business units will continue to operate as usual during this process and will be sold as a going concern. We thank the entire Air Pros team for their hard work and dedication, as well as our business partners for their continued support."

As part of the sales process, the proposed purchasers will serve as "stalking horse" bidders in a court-supervised auction process. These proposed transactions are subject to higher or otherwise better bids, Bankruptcy Court approval, and other conditions.

In connection with the court-supervised process, Air Pros has secured a commitment for $20 million of new financing from its current lender (the "DIP Financing"). Upon Court approval, this DIP Financing and cash generated from the Company's ongoing operations are expected to provide more than sufficient liquidity to support the Company while it works to complete the sales transactions.

The Company has also filed a number of customary motions with the Bankruptcy Court seeking authorization to support its operations during the court-supervised process, including authority to pay wages, provide health and other employee benefits, and continue existing customer programs. The Company expects to receive Court approval for these requests in short order. The Company also expects to pay vendors in full under normal terms for goods delivered and services provided after the filing date.

Additional information regarding Air Pros' court-supervised sales process is available at www.airprosrestructuring.com. Court filings and other information related to the proceedings, including instructions on how to file a proof of claim, are available on a separate website administered by the Company's claims agent, Verita, at https://www.veritaglobal.net/AirPros, by calling toll-free at (866) 927-7076 (or (310) 751-2650 for calls originating outside the U.S. or Canada), or by submitting an email at https://www.veritaglobal.net/AirPros/inquiry.

Advisors

Greenberg Traurig, LLP is serving as legal counsel, Accordion Partners LLC is serving as Chief Restructuring Officer (Andrew Hede) and financial advisor to Air Pros, and Jefferies LLC is serving as investment banker. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor.

About Air Pros

Air Pros USA was founded in South Florida on the promise of integrity, reliability, and putting our customers first. The company has quickly expanded to many metro areas within Alabama, Colorado, Florida, Georgia, Mississippi, Louisiana, Texas, and Washington. Air Pros USA currently employs more than 1,000 experienced professionals in more than a dozen metro Service locations including Atlanta, GA, Colorado Springs, CO, Dallas, TX, Everett, WA, Miami, FL, Mobile, AL, and Orlando, FL. For more information visit www.airprosusa.com.

Media Contact

Michael Freitag / Richard M. Goldman
Joele Frank, Wilkinson Brimmer Katcher
[email protected]
212-355-4449

SOURCE Air Pros Solutions, LLC