H.I.G. Capital Completes Growth Investment in Ascension Property Services

H.I.G. Capital Acquires CPS Building Services Limited

September 1, 2022

Construction

H.I.G. Capital, through an affiliate, has acquired CPS Building Services Limited, a Cambridgeshire-based mechanical and electrical (M&E) installation and maintenance provider, from its founder; CPS' managing director Liam Connelly will reinvest and the existing management team will remain in place. H.I.G. plans to use CPS as the core of a technical building services platform and pursue add-on acquisitions to expand capabilities in fire protection, lifts, water & pumps, access and security, and compliance services.

Ascension Property Services Acquires Palmetto Plumbing Co. of Hialeah Inc.

May 28, 2024

HVAC & Mechanical

Ascension Property Services has acquired Palmetto Plumbing Co. of Hialeah Inc., a South Florida plumbing contractor. The deal, closed May 28, 2024, will expand Ascension’s mechanical and plumbing capabilities and footprint in the South Florida market while providing Palmetto access to Ascension’s national resources to pursue larger and more diverse projects.

H.I.G. Capital Acquires Ascent Global Logistics

August 22, 2023

Logistics & Distribution

An affiliate of H.I.G. Capital has signed a definitive agreement to acquire Ascent Global Logistics from affiliates controlled by Elliott Investment Management. Ascent's management team and Elliott will retain minority stakes; H.I.G. said it will support Ascent's growth by investing in technology, broadening capabilities, expanding global reach and enhancing its carrier network.

Ascension Property Services Acquires Bryant Electric, Inc.

November 21, 2019

Electrical Services

Ascension Property Services, a Memphis-based portfolio company of SouthWorth Capital Management, acquired Bryant Electric, Inc. of Doral, Florida. Kratos Capital advised Bryant Electric on the transaction, which closed on November 8, 2019; the deal expands Ascension’s building-services platform capabilities in commercial and industrial electrical work.

H.I.G. Capital to Acquire Travis Perkins Plc's Plumbing & Heating Business

May 20, 2021

Building Products

H.I.G. Capital has signed a definitive agreement to acquire Travis Perkins Plc's Plumbing & Heating business (P&H) in a divestiture valued at approximately £325 million. The carved-out business, which trades under City Plumbing Supplies and Plumbing Trade Solutions and operates more than 350 branches across the UK and Ireland with over 3,000 employees, will be transitioned to an independent company to accelerate customer-focused growth under H.I.G.'s ownership.

Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group

June 2, 2022

HVAC & Mechanical

Ridgemont Equity Partners provided significant growth capital to Crete Mechanical Group (CMG) to support the build-out of a national platform of HVAC, electrical, plumbing and building automation service companies. Financing for the transaction was led by Ares Management Corporation and Churchill Asset Management; terms were not disclosed.