CLA (CliftonLarsonAllen LLP), one of the leading professional service firms in the United States, announced that American Event Services, LLC (AES or the Company), a Danville, IL-based leading manufacturer of specialized HVAC equipment sold to the rental industry, has partnered with Minneapolis-based Solheim Investment Partners, LLC (SIP) to continue AES’s growth and expansion. CLA served as the exclusive financial advisor to AES on the transaction.
AES was established in 2004 by Tony Tauer, Tom Strader, and Tom Wodetzki as an HVAC and power equipment manufacturer that rented its custom-made (Rentalized™) products to end users — focusing on special events and temperature control for tent structures. Over time, AES was asked to sell its custom Rentalized™ equipment to others in the rental industry and began to refocus its operations to the outright sale of Rentalized™ equipment. AES then focused efforts on expanding its product lines to include pumps, chillers, heaters, air handlers, and more, as part of its efforts to become a leader in the industry.
"We have been a client of CLA for over 30 years, and throughout they have been a trusted advisor to both the Company and our families," stated the owners. “We relied on CLA for a variety of services throughout AES’ growth, which culminated in our engagement with the investment banking team. CLA’s dedication and professionalism were always exemplary, and their hard work and focus on meeting our objectives was clearly evident.” The transaction was a seamless effort completed through support from CLA investment banking, quality of earnings, tax, and outsourced accounting service teams.
Ian Sylvan, managing director on CLA’s investment banking team said, “We knew there were many important factors being considered as part of a transaction and we worked closely with the owners to meet their objectives.”
Solheim Investment Partners is a private equity firm that invests personal capital into owner-operator, privately held, lower middle-market businesses. The firm has a long history of helping founders, owners and multigenerational families transition leadership of their businesses and monetize their equity investments.
“American Event Services is the market leader supplying customized equipment to its specialty rental customers,” said Solheim partner Dan Kubes. “Its president Tony Tauer played a crucial role in building AES from the ground up. His commitment to remain as president and his passion for the rental industry are key factors in our decision to partner with the company.”
The CLA investment banking team included Ian Sylvan, Derek Murphy, and Jonathan Collins from CLA Wealth Advisors. Quality of earnings advisory was led by Joe Baez and Matt Lagieski from CLA. Accounting and tax advisory was led by Mike Meidel and Emily Bonomo from CLA. Anthony Taglia, Morgan York, and the team from Golan Christie Taglia acted as AES’ trusted legal counsel for the transaction.
CLA’s investment banking professionals specialize in providing sophisticated corporate finance advisory and investment banking services to lower middle-market businesses and owners. Their services include mergers and acquisitions, recapitalizations, and other transaction-related advisory services.
For more information on CLA and its investment banking practice, visit CLAconnect.com/services/investment-banking.
Securities products, merger and acquisition services, and wealth advisory services are provided by CliftonLarsonAllen Wealth Advisors LLC, a federally registered investment advisor and member FINRA, SIPC.
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