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AE Industrial Partners signed a definitive agreement to sell portfolio company Resolute Industrial, a North American provider of specialty HVAC&R rental services and compressor remanufacturing, to Aggreko for a transaction value of $440 million on a cash-free, debt-free basis.
Resolute Industrial, a Wheeling, Illinois-based HVAC and compressor equipment rental company backed by One Equity Partners, completed its acquisition of Detroit-based Tioga HVAC Rentals. Terms were not disclosed.