Sunny River Management Partners with Palmetto Air & Water Balance

Palmetto Air & Water Balance Acquires Bay to Bay Balancing

October 13, 2025

HVAC & Mechanical

Palmetto Air & Water Balance, an SRM Equity Partners portfolio company, has acquired Bay to Bay Balancing, a Tampa-based provider of Testing, Adjusting, and Balancing (TAB) services. The add-on expands Palmetto’s footprint into Florida (its seventh state) and was financed by Deerpath Capital; terms were not disclosed.

Palmetto Air & Water Balance Acquires Air Balancing Company, Inc.

July 30, 2023

HVAC & Mechanical

Palmetto Air & Water Balance has merged the operations of Air Balancing Company, Inc. (ABC) into its platform, creating Palmetto Air & Water Balance – Texas to serve Abilene, Fort Worth and Lubbock. The add-on was executed while Palmetto is a Sunny River Management portfolio company, with financing provided by Deerpath Capital Management; terms were not disclosed.

Palmetto Air & Water Balance Acquires N.D. White Engineering Services

January 24, 2023

HVAC & Mechanical

Palmetto Air & Water Balance, a Sunny River Management portfolio company, has acquired and merged the operations of N.D. White Engineering Services, LLC into its Abilene/Lubbock operations as Palmetto – Abilene. Founders Nick and Linda White will retire following a transition period; the transaction was financed by Deerpath Capital Management and represents Palmetto's first add-on under Sunny River Management.

Propel Insurance Acquires South Risk Management

June 1, 2021

Insurance

Propel Insurance, a portfolio company of Flexpoint Ford, has acquired South Carolina-based South Risk Management (SRM), a construction-focused insurance consulting firm. The deal expands Propel's Southeast footprint into South Carolina and strengthens its construction risk practice through the addition of SRM's team and expertise.

Sidereal Capital Leads Recapitalization of Palmetto Adhesives

February 28, 2023

Manufacturing

Sidereal Capital Group led a recapitalization of Palmetto Adhesives Company, LLC, partnering with the company's senior management while Parkway Capital, Spring Capital Partners, Route 2 Capital Partners, and MPowered Capital provided subordinated debt and equity support. Palmetto Adhesives, a Greenville, South Carolina–based manufacturer and distributor of hot melt and water-based adhesives with additional facilities in New Jersey and California, will use the capital to support growth and expansion initiatives.

Balance Point Provides Financing to Sylmar Group

November 8, 2022

Environmental Services

Balance Point Capital Advisors, alongside its affiliated fund Balance Point Capital Partners IV, provided debt capital to Sylmar Group to support Sylmar's buy-and-build strategy and enable the acquisitions of two water- and wastewater-related businesses. Sylmar, a Los Angeles–based platform focused on industrial water treatment and pump/well maintenance, will use the financing to scale its platform and expand services to commercial and utility customers across the Southwest U.S.