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Majority stake Announced Nov 2021 Closed Dec 2021

AAON completes acquisition of BasX Solutions for up to ~$202M

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Relationship map for AAON completes acquisition of BasX Solutions for up to ~$202Mparent ofAAON, Inc.: Operating CompanyAIAAON, Inc.BasX Solutions: PlatformBSBasX Solutions
Operating CompanyPlatform

Parties
Acquirer
AAON, Inc.
Operating Company
Target
BasX Solutions
Platform

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Summary

AAON Inc. closed its acquisition of 100% of BasX, LLC (BasX Solutions), a custom hyperscale data center cooling manufacturer, on Dec. 10, 2021. Terms: $100M upfront plus up to $80M in earn-out equity through 2023, plus $22M for related real estate. BasX expected ~$70M 2021 revenue.