Cardone Ventures / 10X HVAC Acquires Gundlach's Service

Redwood Services Partners with Cardinal Heating, Cooling, Plumbing & Electric

April 7, 2025

HVAC & Mechanical

Redwood Services has partnered with Cardinal Heating, Cooling, Plumbing, & Electric, marking Redwood’s 18th platform investment. The Ouimette family (founders/owners) will retain a significant minority stake while Cardinal’s team continues to operate under its existing brand as Redwood provides operational and financial support to accelerate growth in the Madison, Wisconsin market.

Goettl Home Services Acquires Dayton Services and Dynamic Air Services

May 7, 2021

HVAC & Mechanical

Goettl Home Services, a portfolio company of Baum Capital Partners, completed the acquisitions of Dayton A/C & Heating LLC dba Dayton Services and Dynamic Air Services, Inc., expanding its footprint into the Austin–San Antonio metroplex in Texas and Orange County, California. Both targets are small, founder-led residential HVAC and plumbing service providers that will operate as add-ons to Goettl's platform to support geographic expansion and scale operations.

Legacy Service Partners Acquires John Henry's Plumbing, Heating & Air and Buehler Air Conditioning

May 2, 2023

HVAC & Mechanical

Legacy Service Partners, a Gridiron Capital-backed home services platform, completed investments in John Henry's Plumbing, Heating & Air (Lincoln, NE) and Buehler Air Conditioning (Jacksonville, FL). The add-on acquisitions expand Legacy's national footprint by entering the Midwest and increasing scale in existing markets while leveraging the platform's acquisition engine and integration capabilities.

Gridiron Capital Invests in Legacy Service Partners

January 18, 2023

HVAC & Mechanical

Gridiron Capital announced a growth investment in Legacy Service Partners, a platform provider of residential HVAC, plumbing, and electrical services operating across 16 states and 28 local brands. The capital will position Legacy for accelerated growth and national platform expansion in the highly fragmented residential services market; financial terms were not disclosed.

HomeServe USA Acquires Canyon State Air Conditioning, Heating and Plumbing

January 12, 2021

HVAC & Mechanical

HomeServe USA has acquired Canyon State Air Conditioning, Heating and Plumbing, a 30-year-old residential HVAC and plumbing provider serving Sun City and surrounding communities in the Phoenix area. The acquisition — HomeServe's fourth HVAC purchase in greater Phoenix in under a year — adds a 28-person team and strengthens HomeServe's local service footprint and customer-facing capabilities in Arizona.

Citation Capital Acquires Majority Stake in Gallo Mechanical

June 23, 2025

HVAC & Mechanical

Citation Capital, a Dallas-based private equity firm, acquired a majority stake in Gallo Mechanical, a fourth-generation New Orleans-based mechanical contractor specializing in large-scale HVAC and plumbing installation and services. The Gallo family and management will retain a significant interest, and the partnership is intended to support geographic and capability-driven growth across healthcare, hospitality, education and industrial end markets.