BGIS (CCMP Portfolio) Acquires Millian-Aire Enterprises

CCMP Capital to Acquire BGIS from Brookfield Business Partners

March 11, 2019

Industrial Services

CCMP Capital Advisors, LP agreed to acquire BGIS, a global integrated facilities management company, from Brookfield Business Partners for approximately US$1 billion. BGIS—headquartered in Toronto with over 7,000 employees and operations across Australia, Asia, North America and Europe—will remain led by CEO Gordon Hicks as CCMP partners with management to support further growth and innovation.

CCMP Growth Advisors Acquires Airo Mechanical

August 7, 2025

HVAC & Mechanical

CCMP Growth Advisors has acquired Airo Mechanical, a Mooresville, North Carolina-based provider of HVAC and plumbing installation services, from an investor group led by Thomas Investments and Stephens Capital Partners. Management (CEO Matt Baude and CFO Angelia Ryan) will remain significant shareholders and Pete Papagiannis will join the board to advise on growth initiatives as CCMP Growth helps expand Airo's capabilities and geographic footprint across the Southeast.

Fidelity Building Services Acquires AIR Technologies

October 18, 2021

HVAC & Mechanical

Fidelity Building Services (Fidelity BSG), a portfolio company of Oaktree Capital Management, has acquired AIR Technologies, an Oklahoma City–based mechanical/HVAC service provider. The add-on deal (effective October 8, 2021) expands Fidelity BSG's geographic footprint into Oklahoma and enhances its HVAC, sheet metal fabrication, and building-automation capabilities.

Colorado Mechanical Systems Acquires AMI Mechanical Systems

February 11, 2021

HVAC & Mechanical

Colorado Mechanical Systems (CMS), a Centennial, Colorado-based commercial and industrial HVAC, plumbing and building controls provider, has acquired AMI Mechanical Systems of Thornton, Colorado. The acquisition expands CMS's service footprint in the Mountain West and strengthens its position in core end markets including healthcare, education, municipal, senior living and industrial customers; AMI founders Manuel Gonzales and Paula Wiley will transition out and AMI's construction arm will continue operations post-close.

Limbach Holdings Acquires Industrial Air (Greensboro, NC)

November 2, 2023

Industrial Services

Limbach Holdings, Inc. (Nasdaq: LMB) has acquired Industrial Air, LLC, a Greensboro-based specialty mechanical contractor, for an initial enterprise value of $13.5 million in an all-cash transaction with up to $6.5 million of contingent earn-outs. Industrial Air, founded in 1964, provides engineered air handling, air filtration and controls to industrial and textile customers and is expected to contribute roughly $30 million of revenue and $4 million of EBITDA annually; the deal expands Limbach's geographic footprint in the Carolinas and strengthens its industrial/institutional capabilities.

Pueblo Mechanical & Controls (Huron Capital) Acquires Commercial Air, Inc.

January 2, 2019

HVAC & Mechanical

Huron Capital’s HVAC platform Pueblo Mechanical & Controls has acquired Commercial Air, Inc., a Phoenix-based commercial HVAC installation, maintenance and repair contractor founded in 1996. The deal is an add-on to Pueblo’s buy-and-build strategy to expand its commercial HVAC footprint across Arizona and the surrounding Southwestern states.