The Blackstone Group to invest in Air Control Concepts.

The Blackstone Group, the world’s largest alternative asset manager, agreed to invest in Air Control Concepts, a company that partners with and supports leading commercial HVAC equipment manufacturers. Financial terms were not disclosed. "AIR’s mission is to partner with top commercial HVAC OEMs focused on excellence, innovation, and collaboration. While maintaining our commitment to preserving the cultures and values of each of our operating companies, we’ve successfully grown our network of brands and significantly expanded our reach, our vendor and customer relationships, and our employee base. We are thrilled to welcome Blackstone as an investment partner. We believe our vendors and customers will benefit from the resources and expertise of both MDP and Blackstone, as will the network of operating companies aligned under our corporate name," Brad Hobbs, AIR Founder, President and CEO.