HVAC & Mechanical Acquisitions in 2023

Atlanta-based private equity firm Grove Mountain Partners launched Service Country LLC, a home‑services platform, and completed the acquisition/partnership with McGee Heating and Air, a residential HVAC provider operating five locations in Georgia and South Carolina. McGee’s management, led by President Robert Kesler, will remain with significant equity; the platform will provide shared marketing, technology, training, and procurement support to drive growth across the Southeastern US.

Heritage Distribution Holdings, the U.S. platform for Beijer Ref AB, has agreed to acquire the assets of Webb Supply, a family-owned HVAC wholesale distributor headquartered in Cleveland, Ohio. Webb will continue to operate under its brand and management will roll over equity as the business becomes part of Heritage Distribution's Northern Region to expand the platform's footprint in Northeastern Ohio and Western Pennsylvania.

Conditioned Air Company, a Naples-based residential HVAC platform backed by Gemini Investors, acquired A/C Designs of St. Augustine to expand its footprint into Northeast Florida. The transaction was supported by a debt and equity investment from Genesis Park and a lending package from Cambridge Savings Bank; West 4th Capital advised A/C Designs.

Modigent has acquired Tebarco Mechanical, an Atlanta-area mechanical contracting and engineering firm founded in 1983, to expand Modigent’s national footprint and integrate Tebarco’s engineering, design-build, VDC and service capabilities. The deal brings Tebarco’s team into Modigent’s portfolio of HVAC, plumbing and controls businesses and aims to scale Tebarco’s operations nationally.

Seacoast Service Partners, a White Wolf Capital Group–backed platform for plumbing and HVAC businesses, has acquired Putnam Mechanical Services, LLC, a commercial HVAC and refrigeration services provider in Southwest Florida. The deal is the platform's second add-on acquisition and expands Seacoast's footprint in Florida and the broader Southeastern U.S.

Tom Barrow Co., an Ardian-backed HVAC platform based in Atlanta, acquired R.F. Peck Co., Inc., a manufacturers’ representative and HVAC distributor serving New York, Vermont and Massachusetts. R.F. Peck will continue to operate as an independent brand (now R.F. Peck HVAC, LLC) with long-time principals Terry Seery and Jim Browe remaining in leadership and investing in the business to support growth in the Northeast.

CoolSys, a national provider of refrigeration, HVAC, energy, and engineering solutions, has acquired Georgia Air Solutions, a Jackson, Georgia-based commercial refrigeration and HVAC service provider. The acquisition expands CoolSys's market density and service offerings in Georgia, adding local installation, repair, and maintenance capabilities for grocery, retail, education, and commercial customers.

Del-Air Plumbing, Air Conditioning and Electric (majority-owned by Astara Capital Partners) has acquired Simpson Air, a Tampa-area air conditioning and heating services provider founded in 1999. The add-on expands Del-Air’s presence across the Tampa Bay market and broadens services available to Simpson Air’s homebuilder, homeowner and light-commercial customers, including air purification, HVAC, ventilation and ductwork services.

Sila Services, a home services platform, has acquired Triangle Heating, Cooling, Plumbing & Electrical of Bellefonte, Pennsylvania. The add-on expands Sila's footprint into Central Pennsylvania and brings Triangle’s residential HVAC, plumbing and electrical services and team into the Sila Services platform.

Air Conditioning Specialist, Inc. (ACS), a Hidden Harbor Capital Partners portfolio company, has acquired Tri-City Air Conditioning Co., a Johnson City, Tennessee HVAC services provider. The deal expands ACS’s service footprint in Tennessee and strengthens its residential and light-commercial HVAC capabilities as an add-on to its platform.

Leap Partners acquired Patriot Services, a Chattanooga-based plumbing, heating and air-conditioning company. The deal expands Leap Partners' Southeast home-services platform; former owner Terry Morrow will remain to lead the Patriot Services team.

AMPAM Parks Mechanical, a Gemspring Capital portfolio company, has acquired Multi Mechanical, Inc., an HVAC services provider focused on the multifamily market in Southern California. The deal expands AMPAM’s service offering by adding HVAC installation and servicing capabilities to its existing design‑build plumbing platform; founding members of Multi Mechanical will continue to lead the HVAC business under AMPAM.

An affiliate of Paceline Equity Partners has provided a $50 million investment to Kelso Industries, a portfolio company of Oxbow Equity Partners and Peterson Partners. The capital will be used by Kelso to fund acquisitions of complementary HVACR and mechanical building services businesses as it pursues inorganic growth. Kelso provides installation and maintenance services for HVACR, plumbing and process piping systems and is based in Phoenix, Arizona.

Air Conditioning Specialist, Inc. (ACS), a portfolio company of Hidden Harbor Capital Partners, has acquired Service Air Eastern Shore, a residential and commercial HVAC services provider headquartered in Silverhill, Alabama. The deal is an add-on acquisition to expand ACS’s footprint and service capabilities across southwest Alabama and the Florida Panhandle.

SBJ Capital, a San Francisco Bay Area private investment firm, has acquired Sydnic, LLC, a leading franchisee of Precision Garage Door Service (a Neighborly brand). Sydnic operates 10 franchise locations across North Carolina, South Carolina, Georgia and Virginia; founder Doug Kale will serve as Chairman and SBJ plans to grow Sydnic into a multi-brand residential services platform with debt financing provided by Tree Line Capital Partners.

Right Time Group of Companies acquired Halifax-based Breathe Clean Mini Split Heat Pump Cleaning, bringing the company's employees into Right Time's residential HVAC platform. The deal expands Right Time's footprint in Nova Scotia; Right Time is majority-owned by Gryphon Investors. Terms were not disclosed.

Crete Mechanical Group has acquired a majority stake in C&C Service, LLC, a Stamford, Connecticut-based commercial HVAC services firm. The deal expands Crete’s partner network and marks the company’s entrance into the Connecticut market as part of its broader Northeast expansion strategy.

Crete Mechanical Group announced a partnership to bring John's Service and Sales (Oglesby, IL) into the Crete network, expanding Crete's HVAC and plumbing presence in Central Illinois. The collaboration will expand service, maintenance and retrofit capabilities for commercial customers in the region as part of Crete's nationwide multi-service platform.

Lunchpail Service Partners acquired Artic Air, a fourth-generation family-owned HVAC business based in Palatka, Florida; the transaction closed on November 8, 2023. Generational Equity advised Artic Air on the sale—Lunchpail will integrate Artic Air into its shared-services platform to support marketing, HR, software, finance and back-office functions while expanding its footprint in Northeast Florida.

Ally Services completed add-on acquisitions of Honest Abe Home Services and East Coast Plumbing, Heating & Air to expand its residential plumbing and HVAC footprint across the Mid‑Atlantic. The deals increase Ally's scale and capacity throughout Maryland and Delaware as the PE‑backed platform continues to integrate local home‑service brands.

Summit Fire & Security LLC, a subsidiary of SFP Holding, Inc. (Summit Companies), has acquired Mountain Fire Protection, Inc., effective October 26, 2023. The acquisition brings Mountain Fire Protection's fire sprinkler design, installation and inspection capabilities and employees in Columbus, Montana into Summit's Billings, MT team to expand Summit's fire protection footprint and service offering in the region.

JPB Partners, a family office and alternative asset manager, acquired Bowman's Plumbing, Heating, Air Conditioning & Electrical, Inc., a residential HVAC, plumbing and electrical services company headquartered in Sterling, Virginia. The transaction is an add-on to JPB's residential HVAC and plumbing platform (including Blue Mountain Plumbing, Heating & Cooling) to support de novo growth and additional add-on acquisitions across Virginia.

Elevator Service LLC (ESI), backed by Carroll Capital, completed an add-on investment in A-1 Elevator Service and Pinnacle Elevator, two independent elevator service providers in the New Orleans metropolitan area. The transaction expands ESI's platform into the Southeast (its tenth market) and aims to drive regional density, capability improvements, and continued growth through enhanced technology, sales, and operational support.

Marathon HVAC Services, a Southern California residential HVAC platform backed by Sound Partners, has acquired Design Air, a family-owned HVAC business serving the Inland Empire since 2001. The deal expands Marathon's Greater Los Angeles footprint into the Inland Empire and broadens capabilities to include plumbing and electrical services while Design Air's founder Paul Davidson and his daughter Megan Davidson join Marathon's leadership.

Sila Services, a PE-backed home services platform, has acquired Burns & McBride Home Comfort, a New Castle, Delaware-based residential HVAC and home comfort services provider. The deal expands Sila Services' Mid-Atlantic footprint and brings Burns & McBride's multi-generational customer base and service capabilities into Sila's platform.

Trades Holding Co., LLC (a CPC company) has acquired the assets of TWD Plumbing Inc., which does business as Mr. Rooter Plumbing of Mid-Ohio, in Mansfield, Ohio. The add-on expands Trades' Ohio footprint and connects its Northeast, Northwest and Central service areas to improve service efficiency and technician career development.

Southeast Mechanical (SEM), a Palladin-backed HVAC, plumbing and electrical services platform, has acquired Guyton, Georgia-based Total Services HVAC and Appliances Company, LLC, marking SEM’s first expansion into the Georgia market. The business was built by Travis and Lisa Stephens, who will continue partnering with SEM as the company expands its residential and commercial HVAC and appliance service footprint in the Southeast.

PremiStar has acquired Golding Mechanical Services, a full-service HVAC and controls contractor based in Memphis, Tennessee, to expand its mechanical service offerings and service density in the Southeastern U.S. Golding’s founder Pam Golding will join the PremiStar family (with her son Jonathan Golding named Director of Field Service Operations), and the business will broaden capabilities for PremiStar’s CS3 operations in the region.

Sila Services, a home services platform, has acquired Levine & Sons, a Southfield, Michigan-based residential HVAC and plumbing business, as part of its geographic expansion into Michigan. The deal brings Levine's long-tenured customer base and service team into Sila's platform and was completed in partnership with the Levine family.

Vestar Capital Partners has joined Tech24 as a new investor alongside existing shareholder HCI Equity Partners and the company's management team in a sponsor recapitalization. The investment will fund Tech24's continued organic and acquisitive growth across new and existing geographies and end markets; Tech24 is a Greenville, South Carolina-headquartered leader in commercial foodservice equipment repair and preventive maintenance.

Milton Street Capital completed a majority recapitalization investment in PurgeRite, LLC, a provider of mechanical flushing and filtration services for water-based HVAC and geothermal systems. GulfStar Group served as exclusive financial advisor; the investment will fund geographic expansion, increased capacity, and investments in people, equipment, and technology to support growth across mission-critical end markets such as data centers, semiconductor fabrication, education, and healthcare.

Gemspring Capital Management affiliate has acquired a majority interest in AMPAM Parks Mechanical, a Carson, California–based design-build plumbing provider serving the multifamily residential market. The founders will retain significant ownership and Gemspring plans to support geographic expansion, cross-selling of additional trade services, and M&A-driven growth to expand AMPAM's footprint and capabilities.

Leap Partners, a Nashville-based home services platform, has acquired Paradise Home Services (Navarre, Florida) and Tim Ferguson Plumbing, Air & Electric (Jackson, Tennessee). The deals expand Leap Partners' portfolio of HVAC, plumbing and electrical companies across the Southeast as the businesses' existing leadership teams remain in place.

Air Conditioning Specialist, Inc. (ACS), a portfolio company of Hidden Harbor Capital Partners, has acquired Total Comfort Cooling & Heating, a Macon, Georgia-based provider of residential and light commercial HVAC services. The acquisition is an add-on to ACS's platform to expand its footprint in the Southeast U.S.

Southern Home Services has acquired Presidential Heating & Air Conditioning, Inc., a Gaithersburg, Maryland-based HVAC contractor, marking Southern's first business unit in Maryland. The acquired business will continue to operate under its existing name with employees retained, as Southern expands its residential HVAC, indoor air quality and service offerings in the Mid-Atlantic.

Legence, a Blackstone portfolio company and energy transition platform, has acquired San Diego-based mechanical contractor A.O. Reed & Co. The acquisition expands Legence's HVAC and mechanical contracting capabilities across California to support decarbonization, energy efficiency, and mission-critical building solutions.

Sila Services, a home-services platform, announced on Sept. 18, 2023 that it acquired Cleveland Air Comfort Corporation (Cleveland, OH) and Carlson Heating, Cooling & Electric Company (Glenview, IL). The acquisitions expand Sila's Midwest footprint and strengthen its residential and commercial HVAC, plumbing and electrical service offerings across the region.

Thermogenics, Inc. has acquired Hartford Boiler Repair Works, a West Hartford, Connecticut-based boiler service and repair company founded in 1926. The acquisition expands Thermogenics' service footprint into the U.S. Northeast and adds Hartford Boiler Repair Works' expertise in boilers, pumps, pipe welding, zone valves and burners to Thermogenics' boiler lifecycle platform.

TriplePoint MEP, a portfolio company of Caymus Equity Partners, completed acquisitions of Polk Mechanical, Commercial Air Systems (CAS), and Professional Air Services (PAS) to expand its geographic footprint into Texas, North Carolina, South Carolina and Virginia. The deals broaden TriplePoint’s HVACR, mechanical contracting and services capabilities across healthcare, education, government and data-center end markets as part of its ongoing roll-up strategy under Caymus Equity.

Seacoast Service Partners (SSP), a platform formed by White Wolf Capital Group, has acquired United Plumbing of Southwest Florida, marking SSP's first add-on acquisition. United Plumbing, based in Ft. Myers, Florida, provides residential and commercial plumbing services across Southwest Florida and will operate under the SSP platform as part of White Wolf's strategy to build a regional plumbing and HVAC platform.

Anvil Capital portfolio company Air Temp has completed the acquisition of The Eugene Steinberg Company (TESCO), marking Air Temp’s fourth add‑on under the Anvil Capital platform. The deal adds plumbing design, installation and service capabilities to Air Temp’s commercial HVAC platform in the greater Hartford, Connecticut region and is intended to accelerate regional growth and expand service offerings.

The SEER Group LLC has acquired a majority stake in All Fuel Installation and Service, a Troutdale, Oregon-based home services provider founded by Eric and Sheri Camp. The deal is The SEER Group's thirty-second acquisition (and fifth this year) as it expands its residential and commercial HVAC, plumbing and fuel-services footprint in the Portland metropolitan market.

Cold Core Group, a Menomonee Falls, Wisconsin-based full-service industrial and commercial refrigeration provider, has acquired South Carolina-based Aircor Refrigeration, LLC and Arctic Consulting, LLC. The acquisition expands Cold Core Group's east‑coast presence and adds specialized industrial refrigeration services, energy management and PSM/RMP compliance consulting capabilities.

Northwinds Services Group has acquired All-Temp Systems Mechanical, Inc., a Milford, Massachusetts HVAC company founded in 1982. The deal is an add-on to Northwinds' HVAC and plumbing platform (PE-backed by TruArc Partners) and expands Northwinds' service footprint in eastern Massachusetts and the New England region.

Kelvin Group, in partnership with private equity sponsor Southfield Capital, has acquired Cooling & Heating Specialists, Inc. (CHS), a regional commercial HVAC services provider headquartered in Newton, Massachusetts. CHS will be integrated into Kelvin's ARC Mechanical platform to expand commercial and industrial HVAC installation and service capabilities across New England; Deerpath Capital Management provided debt financing.

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.

Marathon HVAC Services, a portfolio company of Sound Partners, has acquired Kappl Heating & Air Conditioning, a family-owned residential HVAC business serving the San Fernando Valley since 1987. The add-on expands Marathon’s footprint in the Los Angeles residential HVAC market and continues Sound Partners’ strategy of scaling Marathon through platform roll-ups and operational support.

Knox Lane-backed Any Hour Group has added Utah-based Black Diamond Experts and Las Vegas-based Bumble Breeze Plumbing, Heating & Air to its portfolio of home services brands. The partnerships expand Any Hour's footprint across Utah (Salt Lake City, Park City, St. George) and into the Las Vegas market, strengthening the platform's HVAC, plumbing and electrical capabilities.

Northwinds Services Group announced the acquisition of LePrevost Plumbing, Heating & Cooling, a family-owned plumbing and HVAC services business serving Berkshire County, Massachusetts. Northwinds said it will retain local leadership while providing support for growth across sales, marketing, operations, finance, accounting and IT as part of its HVAC and plumbing platform expansion.

Ardian's North America Fund acquired a majority stake in Tom Barrow Company, a leading provider of commercial HVAC solutions headquartered in Atlanta, Georgia. The founding family and management will retain a meaningful minority ownership; financial terms were not disclosed and financing for the transaction included an unsecured term loan arranged by Platinum Equity's credit team.