AirPro Diagnostics was acquired by Rotunda Capital Partners, a private equity firm, late last week, according to AirPro officials. 

“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,” a press release says. 

AirPro’s existing management will retain an ownership stake in the company, the release says. It says this will ensure continuity in leadership and reinforcement of the company’s longstanding culture of customer service and operational excellence. 

Josh McFarlin, who will remain as AirPro president, said Tuesday that all staff is remaining with the company. 

He said that during his more than five years with the company, multiple private equity firms and strategic buyers have presented opportunities to the company. 

“It had never been the right fit at the right time,” McFarlin said. “We are excited that this is the right fit at the right time.” 

McFarlin said this is Rotunda’s first investment in the automotive industry. 

“We are now the platform company that they will be building on,” McFarlin said. 

AirPro was founded in 2016 and headquartered in Jacksonville, Florida, according to the press release. It says the company is a pioneer in ADAS solutions, providing 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,” the release says. 

Rotunda describes itself as a private equity firm focused on transforming family-founder-owned companies into “dynamic, data-driven platforms able to achieve and manage significant growth.”

The company was founded in 2009 and has focused primarily on three sectors: value-added distribution, asset-light logistics, and industrial, business, and residential services.

Ryan Aprill, Rotunda managing director, said the company is “thrilled” to partner with AirPro. 

“As vehicles become increasingly complex with technology, the need for advanced diagnostic and related solutions continues to grow,” Aprill says in the release. “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, Rotunda managing partner, says in the release that Rotunda plans to expand AirPro into new geographies and end markets as well as pursue add-on acquisitions. 

“This transaction exemplifies Rotunda’s dedication to thematically investing in founder- and family-led high-growth industrial businesses,” said Dan Lipson, Rotunda managing partner. “We are excited to partner with the AirPro team and continue to build on the company’s long history of success.”

McFarlin said a board will be created with the acquisition. He will have a seat on the board and Lonnie Margol, founder of AirPro, will serve as executive chairman. 

”AirPro was founded on the principle of providing the most accurate, efficient, and high-quality diagnostic and calibration solutions to automotive repair facilities,” said Margol in the release. “We look forward to building upon this foundation to continue delivering exceptional solutions for our customers.”

Mike Cranfill, Rotunda operating executive, will join the board. Cranfill recently served as vice president of Global Business Development at Vehicle Service Group and previously as vice president of Global Collision and Business Development at Chief Automotive Technologies. 

McFarlin said AirPro’s focus will remain on its customers. 

“Those customers are the collision repair and glass facilities that we work with today,” McFarlin said. 

The investment gives McFarlin the ability to explore new and alternative solutions to services it already provides its customers. 

“Exactly what those solutions might be, I’m not at liberty to say just yet,” McFarlin said. “The most important component is that our focus remains with who our customer is and how we best serve them.” 

McFarlin said AirPro plans to continue to participate in all of the OE certification programs and fill the requirements of those programs. 

“We will continue to be flexible and creative for our customers,” McFarlin said. 

He added that the company will strive to work with the industry for fair compensation.

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Photo courtesy of AirPro