GI Partners Acquires Majority Stake in American Residential Services; Charlesbank and Management Reinvest
September 15, 2020
GI Partners is making a majority investment in American Residential Services (ARS), with existing investor Charlesbank Capital Partners and ARS management also making significant new investments. ARS, based in Memphis, Tennessee, operates more than 70 locally managed service centers across 23 states with approximately 6,500 employees and is the largest residential HVAC and plumbing services provider in the U.S. GI Partners said it will work with management and Charlesbank to accelerate growth and expand ARS’s national footprint both organically and via add-on acquisitions; the transaction is expected to close in Q4 2020.
- Buyers
- GI Partners, Charlesbank Capital Partners, ARS management
- Targets
- American Residential Services
- Industry
- HVAC & Mechanical
- Location
- Tennessee, United States
- Transaction Type
- Buyout
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