AC distributor Oceanair Distribution,which handles Sanyo, LG and Fujitsu equipment, has been bought by investment group Cripps Trust Corporation.
Following the purchase (for an undisclosed sum), Oceanair Distribution’s owner and managing director Bob Cowlard left the company to work as business planning manager at Sanyo’s ac business, with responsibility for overall strategy and product development.

Bob Cowlard said: “I have no doubt I am leaving Oceanair in good hands. They are an experienced and enthusiastic team, and under their leadership the company is well positioned to move forward to its next stage of growth.”

He added: “I have enjoyed building the business tremendously over the past two years. My return to Sanyo in this new role, however, is a great opportunity and I am excited about the challenge. I am looking forward to helping take the company on in the air conditioning and related markets.”

Oceanair's existing senior team will manage operations with Richard Tyson becoming managing director, Giles Pratt sales director and David Livingstone operations director.

The deal does not affect Oceanair (UK) Ltd, the Nottingham-based distributor, which continues as a separate stand-alone company.

From its original base in Horsham, Oceanair Distribution has expanded to Bristol. Giles Pratt, sales director said “We have a great range of brands and products, and major plans to target larger projects on the consultancy side. There are some substantial projects in the pipeline'.