Airpax Corporation

The story of Airpax begins not in a garage, but in Baltimore, Maryland, in 1947. The company was founded to solve a critical need: protecting sensitive electronic and electrical equipment. It focused on manufacturing highly reliable hydraulic-magnetic circuit breakers, thermostats, and sensors. This wasn't a consumer-facing business; Airpax built its reputation by supplying essential components to original equipment manufacturers across a wide array of demanding sectors, including telecommunications, military, HVAC, and industrial markets. The company’s journey involved several ownership changes. In the 1970s, it was acquired by North American Phillips Corporation. This was followed by a management-led buyout in 1999, backed by private equity firm Industrial Growth Partners, and another in 2004 with Chicago Growth Partners and Norwest Equity Partners. These moves underscore a company that consistently held strategic value. The most significant chapter in its modern history came in 2007. Sensata Technologies, itself a former division of Texas Instruments, announced it would acquire Airpax Holdings, Inc. for $276 million. This acquisition was a strategic play to combine two powerhouses in the world of sensors and controls. The deal integrated Airpax's market-leading position in electrical protection with Sensata's broader portfolio, expanding the global footprint for both and creating a more formidable player in the industrial technology landscape.