Rotunda Capital Partners (“Rotunda”) has acquired AirPro Diagnostics (“AirPro” or the “Company”), a provider of remote and on-site advanced driver assistance system (ADAS) diagnostics, scanning, programming and calibration solutions for the automotive repair industry, according to a news release, which notes “The partnership, formed in collaboration with existing management, will accelerate AirPro’s growth trajectory and broaden its reach to meet the market’s increasing demand for outsourced and technology-enabled ADAS solutions.”
Founded in 2016 and headquartered in Jacksonville, Florida, AirPro has established itself as a pioneer in ADAS solutions, providing comprehensive services that ensure vehicles are accurately diagnosed, programmed, and calibrated to OEM standards. With a team of over 200 highly trained brand specialist technicians, AirPro has developed a reputation for delivering innovative, technical, compliant, and customer-centric solutions across the national collision repair, glass replacement, and other automotive repair end markets.
“We are thrilled to partner with the AirPro team to build upon the company’s already strong value proposition centered around technical expertise, innovation and precision solutions,” said Ryan Aprill, managing director at Rotunda Capital Partners. “As vehicles become increasingly complex with technology, the need for advanced diagnostic and related solutions continues to grow. Our investment will empower AirPro to further enhance its capabilities and will solidify the company as the go-to partner for OEM-compliant ADAS solutions.”
Bob Wickham, managing partner at Rotunda, added, “AirPro has established itself as a critical service partner to customers by delivering OEM-specific expertise and advanced technologies with a commitment to the highest levels of customer service. Together, we plan to expand into new geographies and end markets, pursue add-on acquisitions, and continue the company’s strong momentum with new and existing customers.”
Dan Lipson, managing partner at Rotunda, added, “This transaction exemplifies Rotunda’s dedication to thematically investing in founder- and family-led high-growth industrial businesses. We are excited to partner with the AirPro team and continue to build on the company’s long history of success.”
"Existing management will retain a meaningful ownership stake"
AirPro’s existing management will retain a meaningful ownership stake in the company, ensuring continuity in leadership and reinforcing the company’s longstanding culture of customer service and operational excellence. ”AirPro was founded on the principle of providing the most accurate, efficient, and high-quality diagnostic and calibration solutions to automotive repair facilities,” said Lonnie Margol, founder of AirPro. “We look forward to building upon this foundation to continue delivering exceptional solutions for our customers.” Mr. Margol will serve as executive chairman of AirPro post-transaction.
“With Rotunda as our partner, we are excited to accelerate our growth and continue to provide best-in-class solutions for our customers,” said Josh McFarlin, president of AirPro, who will continue leading day-to-day operations.
As part of the transaction, Rotunda operating executive, Mike Cranfill, will join the board of the Company. Mike most recently served as vice president of Global Business Development at Vehicle Service Group, and was previously vice president of Global Collision and Business Development at Chief Automotive Technologies.
The Rotunda investment team includes Bob Wickham, Dan Lipson, Ryan Aprill, and Alex Gebert. Greenberg Traurig, LLP served as legal advisor to Rotunda on this transaction. Smith, Gambrell & Russell served as legal advisor to AirPro. Heritage Capital Group provided financial advisory services to AirPro.
