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AirWorx

Brookwood Advises on Sale of AirWorx Construction Equipment & Supply

We are pleased to announce that Brookwood Associates advised AirWorx Construction Equipment & Supply, LLC, a portfolio company of Source Capital, LLC, on the sale of the Company to Management and Hammond, Kennedy, Whitney & Company, Inc. This engagement was Brookwood's second successful equipment rental transaction in the last year. The transaction illustrates the benefits of (i) the focus of our experienced senior bankers and (ii) our industry specific knowledge to achieve an attractive outcome in a challenging market.

Founded in 1996 by Dick Kagy in Indianapolis, AirWorx is the largest independent aerial lift equipment rental company in its markets. The Company's substantial aerial lift equipment fleet and unique "one-stop" solution position it to address the broad equipment rental, sales and repair needs of its non-residential construction and maintenance customers.

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"We were very pleased with the outcome in a tough economic and banking environment. What impressed us most was Brookwood’s detailed company due diligence; they learned everything about our business to avoid any surprises along the way. This focus is unique in our experience and helped us realize a "win-win" outcome for Management and Source Capital."

Thomas van der Meulen

CEO, AirWorx and Source Capital Operating Partner