HVAC & Mechanical Recapitalizations in 2021
Acquisition Volume in HVAC & Mechanical Recapitalizations in 2021 by Year
Last 5 years
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December 22, 2021
- Buyer
- Atlantic Street Capital
- Target
- ACIS (Air Conditioning Innovative Solutions)
- Seller
- Caltius Equity Partners
- Industry
- HVAC & Mechanical
- Location
- Texas, United States
- Type
- Recapitalization
Atlantic Street Capital completed a majority recapitalization to acquire a controlling stake in ACIS (Air Conditioning Innovative Solutions), a leading commercial facility services and HVAC provider in Texas. Caltius Equity Partners, ACIS' prior institutional investor, will remain an investor and on the board while Atlantic Street will support growth initiatives including salesforce investment, data-driven operations, geographic expansion and add-on M&A.
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RLJ Equity Partners and LP First Capital Recapitalize Three Businesses to Form Flow Service PartnersJuly 7, 2021
- Buyer
- RLJ Equity Partners, LP First Capital, Brookside Capital Partners
- Target
- Flow Service Partners
- Seller
- Selling shareholders of the three recapitalized companies
- Industry
- HVAC & Mechanical
- Location
- Tennessee, United States
- Type
- Recapitalization
RLJ Equity Partners and LP First Capital recapitalized three HVACR and plumbing businesses to create Flow Service Partners, a commercial HVACR and plumbing platform headquartered in Nashville, Tennessee. Brookside Capital Partners provided unitranche debt and an equity co-investment to facilitate the transaction; RLJ will hold controlling equity and pursue add-on acquisitions to scale the platform.
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- Buyer
- Stonebridge Partners, Caltius Structured Capital, Midwest Mezzanine Funds, Truist Bank, 747 Capital, Mark Cronin, Paramount management
- Target
- Paramount Mechanical Corp.
- Industry
- HVAC & Mechanical
- Location
- Virginia, United States
- Type
- Recapitalization
Stonebridge Partners completed a recapitalization of Paramount Mechanical Corp., partnering with founder Mark Cronin and management while receiving subordinated debt and equity from Midwest Mezzanine Funds, Caltius Structured Capital, 747 Capital and other investors. Debt financing for the transaction was provided by Truist Bank and Midwest; the capital raise is intended to support Paramount's continued organic growth and strategic acquisitions across the Mid-Atlantic and Southeast U.S.
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January 26, 2021
- Buyer
- Summit Park, Capitala Group, Pareto & Company, United Air Temp management team
- Target
- United Air Temp (UAT), Air Conditioning and Heating LLC
- Seller
- Gabe Ivanescu
- Industry
- HVAC & Mechanical
- Location
- Virginia, United States
- Type
- Recapitalization
Summit Park led a majority recapitalization of United Air Temp (UAT) alongside Capitala Group, Pareto & Company, and UAT's management team. The transaction provides growth capital to expand UAT's geographic footprint, marketing capabilities and service offerings, and to pursue add-on acquisitions across the Southeast and Mid-Atlantic.
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