WAYNE, Pa.--(BUSINESS WIRE)--Guardian Capital Partners (“Guardian”) announced that it has invested in AW Industries, LLC d/b/a Newair (“Newair” or the “Company”). Guardian has partnered with the Newair executive management team, who will continue to operate the Company.
Headquartered in Cypress, CA, Newair (www.newair.com) is a digitally native consumer products company developing smart design, small and medium size appliances. The Company sells primarily through eCommerce channels to a diversified customer base of leading online retailers. Newair was founded with a mission to be the most trusted brand in compact appliances through providing high quality products and high levels of customer satisfaction. Guardian and the Newair management team are excited to execute on the Company’s strategic plan to accelerate growth through investments in infrastructure, product development, and add-on acquisitions.
Ryan Northington, Partner at Guardian, stated, “Guardian is delighted to have the opportunity to partner with the Newair management team. Newair is well positioned to advance its leadership position in the appliance space as the shift to eCommerce shopping continues.” Luke Peters, CEO and founder of Newair, said, “I am thrilled to partner with Guardian to continue Newair’s evolution as a leading digitally native compact appliances company and advance the mission of being the most trusted brand in the space. Guardian’s depth of experience in the consumer products sector and the eCommerce space will provide significant resources to help us continue to evolve.”
The law firm Morgan Lewis advised Guardian and Graycliff Partners provided financing and minority equity. Proskauer provided legal advice for Newair and Intrepid Investment Bankers acted as Newair’s exclusive financial advisor.
Guardian Capital Partners (www.guardiancp.com) is a private equity firm based in suburban Philadelphia that invests in lower middle market consumer products, niche manufacturing, and specialty service companies. Guardian partners with management teams to provide equity capital to fuel the growth of family-owned businesses. The private equity experience and complementary skill sets of the Guardian team provide a unique combination of operating and finance capabilities resulting in certainty of execution and meaningful long-term value creation for its portfolio companies.
Guardian Capital Partners is a Pennsylvania based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
