Lewis & Clark Capital today announced the formation of AirCore Environmental, a new indoor air quality (“IAQ”) platform built through the acquisitions of Radon Mitigation Services (“RMS”) and Radon Professional Services (“RPS”). AirCore provides radon mitigation services predominantly to commercial customers across the Southeastern United States, with a mission to help property owners, managers, and builders create safer, healthier indoor environments.
Formed by Lewis & Clark Capital, AirCore Environmental is designed to serve as the foundation for a regional IAQ platform, beginning with radon mitigation, one of the most critical and underappreciated threats to indoor air quality. Radon is the second leading cause of lung cancer in the United States, and demand for professional mitigation services continues to grow alongside increased awareness among property owners, lenders, builders, and regulators. The Company is actively pursuing additional acquisitions of complementary IAQ services businesses.
Each founded approximately 30 years ago, RMS and RPS are Florida-based businesses that bring decades of technical expertise, established customer relationships, and proven track records of quality service to the AirCore platform. The existing management teams at both companies will remain in place, continuing to serve their respective customers and markets.
“We are excited to formally launch AirCore Environmental with two businesses that have each spent decades building trust with their customers and communities,” said Michael Rockhold, Principal at Lewis & Clark Capital. “Radon mitigation is where we are starting, but our vision for AirCore is larger. The IAQ market is highly fragmented, and we see a meaningful opportunity to consolidate around strong operators, bring greater resources and capabilities to the industry, and ultimately raise the bar for customers.”
“Lewis & Clark is deliberate in the platforms it chooses to build. We look for founder-led businesses with proven track records that are seeking a true partner, not just a transaction. RMS and RPS are exactly that,” said Tim Spihlman, Managing Director at Lewis & Clark Capital.
About Lewis & Clark Capital
Formed in 2001, Lewis & Clark Capital (“LACC”) is a single-family office based in St. Louis, Missouri. The firm invests predominantly by taking control positions in lower middle market operating businesses spanning a range of business models and end markets. LACC has a successful track record having acquired and exited over 35 companies in its 20+ year history. The firm employs an “Operator First” mentality, taking a hands-on approach to portfolio management. LACC’s team is comprised of entrepreneurs, operators, and investors who have lived through the decisions, challenges, and joys of building companies. For more information, visit lewisandclarkcapital.com.
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