Airtron Appoints Steve Margolius as Chief Executive Officer & Adnan Mughal as Chief Financial Officer
Airtron Heating & Air Conditioning (“Airtron” or the “Company”), a portfolio company of Gamut Capital Management (“Gamut”), today announced the appointment of Steve Margolius as Chief Executive Officer and Adnan Mughal as Chief Financial Officer. Steve and Adnan bring a proven track record of scaling construction, home services, and distribution platforms into the next phase of their evolution with a strong focus on building enduring cultures of customer success as well as establishing operational and commercial excellence.
“After a busy year establishing Airtron as a standalone organization and completing multiple strategic add-on acquisitions, the Company is at a pivotal moment,” said Michael Hanigan, Partner of Gamut. “To fully capitalize on the compelling opportunities ahead, we are excited to announce these leadership additions. Steve and Adnan are the perfect fit and bring uniquely qualified skillsets having served in senior leadership capacities at scale across residential new construction and home services platforms. We expect their breadth of experience will be key to positioning Airtron for continued success as a trusted partner to homebuilders and homeowners nationwide. We would also like to thank Jeff Morrow, Airtron’s previous CEO, for his years of dedication to the business and look forward to the continued partnership as Jeff moves into a new role as an advisor to Gamut.”
Mr. Margolius added: “I am honored to join Airtron at such an exciting time in its journey. As the only national provider of HVAC installation services to the residential new construction market, Airtron is uniquely positioned as a premier supplier to homebuilders nationwide, while also providing homeowners with end-to-end maintenance and repair services across the full system lifecycle. With the independent backing of Gamut following its separation from prior corporate ownership, Airtron is poised to capitalize on the many growth avenues through both re-investment in the business and strategic acquisitions. I look forward to further developing the platform and reinforcing Airtron’s status as a premier, value-added partner to its customers, suppliers, and employees.”
Prior to joining Airtron, Mr. Margolius held several prominent leadership roles across the building products value chain and brings more than 35 years of experience to the Company. Most recently, he served as CEO of Artisan Design Group (ADG), a leading nationwide provider of design, distribution, and installation services for interior surface finishes to homebuilders. Prior to ADG, he was President & CEO of Distribution International, a value-added specialty distributor of insulation and related supplies. Mr. Margolius has also held leadership positions at HD Supply, Arrow Electronics, and GE.
Mr. Mughal most recently served as Chief Financial Officer at Cherry Coatings, a provider of commercial paint and coating services. Prior to that, he served as Chief Financial Officer of Service Experts Heating & Air Conditioning, one of North America’s largest home services companies operating in the heating, air conditioning and plumbing service industry. Earlier in his career, Mr. Mughal held senior finance roles with BrightView Landscapes, SunEdison, and GE.
Since being acquired by Gamut in September 2024, Airtron has broadened its geographic footprint through acquisitions of best-in-class local operators. Following the previously announced acquisition of Sierra Air Conditioning in March 2025, which added locations in Las Vegas, Mesquite, and Boise, Airtron acquired Viccarone Heating & Air Conditioning (with locations in Cleveland, Columbus, and Chicago) in April 2025 and Sonoran Mechanical Systems (two locations in Phoenix) in May 2025. Airtron is proud to back these well-established brands and operators, all of whom share the Company’s commitment in providing high-quality service to homebuilders. Today, Airtron operates nineteen locations across the United States.
About Airtron
Founded in 1972, Airtron Heating & Air Conditioning is one of the leading providers of heating, ventilation, and air conditioning (HVAC) systems primarily focused on serving the residential construction channel with a presence in Texas, the Midwest, Mid-Atlantic, and West regions. Airtron provides an all-encompassing approach to HVAC solutions, from professional installations performed by North American Technician Excellence (NATE®) certified technicians to comprehensive Essential HomeCare Plans, which provide end customers ongoing maintenance and protection services. Learn more at www.airtron.com.
About Gamut Capital Management
Gamut Capital Management is a private investment firm based in New York managing over $3 billion in assets focused on middle market opportunities. Founded in 2015, Gamut employs a flexible, opportunistic investment approach and seeks to partner with companies to facilitate strategic growth and value creation. Learn more at www.gamutcapital.com.
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