United Electric Corporation (“Magic Aire” or the “Company”), a leading designer and manufacturer of commercial HVAC systems, has been acquired by MA Acquisition LLC, a management led investment group. Based in Wichita Falls, Texas, Magic Aire is a wholly owned subsidiary of Carrier Corporation, the world’s largest HVAC systems and solutions company. Magic Aire is a specialist in the design and manufacture of direct expansion and hydronic air supply systems for schools, hospitals, stadiums, airports, condominium buildings and other commercial facilities. The Company also manufactures air handlers, evaporator coils, blower coils, fan coils and unit ventilators.
Terms of the transaction were not disclosed. Philpot Ball & Werner served as advisor to Carrier Corporation and Magic Aire.