Air Pros lines up buyers in bankruptcy case, docs show

HVAC platform Air Pros last week designated successful bidders for each of its business units, nearly two months after filing for Chapter 11 bankruptcy protection and announcing the sale of all of its businesses, according to public court records. 

The big picture: March’s filing marked the first Chapter 11 bankruptcy for a large-scale, private equity-backed home services platform formed in recent years. The sales are being conducted via six separate purchase agreements, and bids were due May 5. Read the backstory

What’s happening: The “legacy” Air Pros business, which includes a slew of brands primarily based in Florida, is set to be purchased by founder Anthony Perera’s private equity firm, Exuma Capital Partners. 

The successful bidders for the remaining businesses, per the records, are as follows:

• Any Hour Group — One Source Home Service (CO). 
• Canada-based Reliance Comfort — CM Heating & Cooling (WA) and Air Force Heating & Air (GA).
• Columbia Home Services — Dallas Plumbing & Air Conditioning (TX).
• Cascade Services — East Coast Mechanical (FL). 
• Apex Service Partners — Doug’s Service Company (LA), Dream Team Heating & Air (LA), and Hansen Super Techs (AL). 

What’s next: While Air Pros has designated successful bidders, the transactions aren’t yet final — a court hearing is scheduled for May 19 for the sales to be approved. A representative for Air Pros declined to comment.