HVAC & Mechanical Acquisitions in 2024

Air Conditioning Specialist, Inc. (ACS), a portfolio company of Hidden Harbor Capital Partners, acquired AAA-1 Heating & Cooling, LLC (Kingsport, TN) and Jake's Heating & Cooling of North Myrtle Beach, LLC (Little River, SC). The transactions expand ACS’s HVAC and plumbing footprint in Tennessee and South Carolina as add-on acquisitions to its existing platform in the Southeast.

Sila Services, a PE-backed home services platform, has acquired A-Comfort Service, a Pittsburgh-based heating, cooling and plumbing company founded in 1988. The acquisition expands Sila's presence in Western Pennsylvania and brings A-Comfort's team and founders into the Sila network to support growth and enhanced customer service.

Service Logic, the largest privately held HVAC and mechanical services company in North America, has acquired HVAC, Incorporated, a commercial HVAC solutions provider based in Milwaukie, Oregon. ACT Capital Advisors advised HVAC, Inc. on the transaction; the deal expands Service Logic’s West Coast footprint and adds HVAC, Inc.’s design, installation, maintenance and building-automation capabilities to its national network.

Platinum Equity has made a strategic investment in Global, the Source, a master distributor of HVAC/R components, and its AmRad Manufacturing subsidiary, joining the company with Motors & Armatures (MARS) to form an integrated HVAC/R platform. As part of the transaction, Philip Windham was named CEO of the combined platform while Global owner Dickie Sirotiak and his family remain shareholders; financial terms were not disclosed.

AirX Climate Solutions (ACS), a Gryphon Investors-backed specialty HVAC platform, has acquired Powrmatic USA, a Finksburg, Maryland-based manufacturer of commercial and industrial heating, cooling and air turnover systems. Powrmatic, with ~30 employees, was divested by Stamm International Corporation and will operate under ACS to expand its specialty HVAC capabilities and mid‑Atlantic footprint.

Pentair plc acquired Florida-based G&F Manufacturing, LLC (maker of Gulfstream pool heat pumps) for approximately $108 million in cash. The deal expands Pentair’s pool equipment offerings in Florida and the Southeast U.S., adding heat-pump capabilities that align with the company’s sustainability and regional product strategy.

Punctual Pros, a leading operator of One Hour Heating & Air Conditioning, Benjamin Franklin Plumbing and Mister Sparky Electric, has acquired Horvath Home Services, expanding its footprint into Ocean and Monmouth Counties in Central New Jersey. The deal is Punctual Pros' first out-of-state acquisition since the company was acquired by Broad Sky Partners earlier in 2024 and is intended to drive mid-Atlantic geographic expansion and operational synergies.

CAI Capital Partners’ portfolio company Custom Air Conditioning Ltd. has acquired Power Plus Electric Ltd. (Maple Ridge, BC) and certain assets of I.C.R. Air Inc. (Kamloops, BC). The deals expand CustomAir’s electrical capabilities and strengthen its regional HVAC footprint in the Thompson region, positioning the company to capture demand from decarbonization and electrification initiatives across Western Canada.

Apex Service Partners has acquired HomeBreeze, a Y Combinator‑backed residential home services startup that provides fast quotes and technology to simplify home upgrades and maintenance. The deal expands Apex’s footprint and service capabilities in the residential HVAC, plumbing and electrical market, bringing HomeBreeze’s tech and California customer base into Apex’s platform.

Redwood Services has acquired a majority stake in Tony's Plumbing, a Modesto, California-based residential plumbing company founded in 1994; founders/owners will retain a significant minority ownership stake. Redwood will provide operational, strategic and financial support to help accelerate growth, and Tony's will continue to operate under its existing brand. The transaction is Redwood's sixteenth platform investment in the residential HVAC, plumbing and electrical services space.

Sila Services has acquired New Berlin Heating & Air Conditioning, a family-run HVAC services provider based in New Berlin, Wisconsin, to accelerate the platform’s Midwest expansion. The deal brings New Berlin’s technical team and local customer base into Sila’s multi-brand home services platform to enhance service capabilities and regional coverage.

Quad‑C Management has acquired Flow Service Partners from sellers RLJ Equity Partners and LP First Capital; financial terms were not disclosed. Flow is a commercial HVACR and plumbing services platform headquartered in Nashville, Tennessee, operating across several U.S. states with over 400 employees and built through multiple acquisitions since 2021.

Quad-C Management has made an investment in Flow Service Partners, a multi-region provider of HVACR and plumbing services operating in the Midwest, Southeast and Mid-Atlantic. Quad-C said it will work with Flow's management to scale operations through M&A, expand geographic reach, and add new service offerings; terms were not disclosed.

Crete United, a portfolio company of Ridgemont Equity Partners, has acquired Hartwig Mechanical, Inc., a full-service commercial and industrial mechanical contractor founded in 1958. BaseRock Partners served as exclusive financial advisor to Hartwig; the acquisition expands Crete United's geographic footprint and strengthens its presence in the Midwest.

Paramount Mechanical Corporation, a Stonebridge Partners portfolio company, acquired Math Mechanical, Inc. on November 21, 2024. The add-on expands Paramount’s HVAC, plumbing and medical-gas capabilities in southern Virginia and strengthens relationships with hospital and commercial customers in the Newport News/Norfolk/Virginia Beach region.

Del-Air Plumbing, Air Conditioning and Electric, a Florida indoor comfort provider majority owned by Astara Capital Partners, has acquired Colman Heating & Air of Titusville, Florida. The acquisition expands Del-Air's footprint into Volusia and Flagler counties (Daytona, Titusville, Cape Canaveral, Cocoa, New Smyrna, Ormond Beach and Palm Coast) and adds local HVAC, ductless, heat pump and light commercial service capabilities.

Atlantis Fire Protection acquired Allied Fire Protection of Birmingham, Alabama and added its founder Tony Thomas to the Atlantis ownership group. The deal is an add-on to the Atlantis platform (which is backed by Lynch Holdings and Capital Alignment Partners) intended to expand the platform’s regional footprint and capabilities in fire protection services.

PremiStar has acquired Conditioned Air Design, a commercial HVAC contractor based in West Allis, Wisconsin, expanding PremiStar's footprint in Southeastern Wisconsin. The deal strengthens PremiStar's service capacity for education, healthcare, commercial/industrial, and data center customers and provides career opportunities for Conditioned Air Design's employees.

Liberty Service Partners, a national home‑services platform backed by NorthCurrent Partners, has acquired Wilson Heating & Air Conditioning, a residential HVAC provider headquartered in St. Augustine, Florida. The deal brings the local business founded by Todd and Brenda Wilson into Liberty's multi-brand platform to support the company's targeted geographic expansion in the Southeast. Financial terms were not disclosed.

Fidelity Building Services Group has acquired Tropic-Kool, a Largo, Florida-based commercial design-build and HVAC/mechanical services contractor. The acquisition strengthens Fidelity's service footprint in the Southeastern United States and adds Tropic-Kool's fabrication capabilities and local customer relationships in healthcare, education and commercial/industrial markets.

Goldman Sachs Alternatives’ Private Equity business agreed to acquire a majority stake in Sila Services from investment funds managed by Morgan Stanley Capital Partners. Headquartered in King of Prussia, Pennsylvania, Sila is a residential HVAC, plumbing and electrical services platform operating over 30 brands across the U.S. Northeast, Midwest and Mid-Atlantic; Sila management will remain in place and retain a significant minority stake. Financial terms were not disclosed and closing is subject to customary regulatory approvals.

KSC Holdings, a Danville, Kentucky-based holding company focused on mechanical construction businesses, has acquired family-owned Stansbury Electric Co. of Louisville. The transaction, which closed November 8, 2024, was advised by Generational Group and expands KSC's holdings in plumbing, electrical, garage door and industrial supply services as it builds a regional mechanical services platform.

Seacoast Service Partners (an HVAC/plumbing platform formed by White Wolf Capital Group) has acquired Comfort Zone, a Palm Beach County provider of residential HVAC services. The transaction is an add-on acquisition that expands SSP's presence in Palm Beach County and strengthens its platform of plumbing, HVAC and refrigeration service providers in the Southeastern United States.

Generational Group advised A&Z Mechanical, Inc., an HVAC contractor based in Colorado Springs, Colorado, on its sale to an unnamed private investor, with the transaction closing November 1, 2024. A&Z Mechanical provides HVAC installation, repair, and maintenance services for new single-family construction as well as commercial and residential customers.

Easy Ice has acquired the ice machine leasing division of Armadillo Service Company in Amarillo, Texas. The deal expands Easy Ice’s managed-ice footprint in the Texas Panhandle, bridging its Oklahoma and New Mexico operations while Armadillo continues providing HVAC and repair services independent of the leased-equipment business.

NexCore, a commercial HVAC platform backed by Trinity Hunt Partners, has acquired Buffalo-based DWC Mechanical, Inc. DWC will continue to be led by its existing management team and will operate as part of NexCore's upstate New York platform to support regional growth and future add-on activity.

The SEER Group acquired Boise-based K-F Electric and Veterans Plumbing and will integrate both businesses into its Boise-based platform, Western Heating and Air. The transactions expand SEER's service capabilities across electrical, plumbing and HVAC in the Treasure Valley and support succession planning for the founders.

Impact Climate Technologies has acquired Central States HVAC Solutions, Inc. (including operating companies Fontanesi & Kann, Architectural Building Components and Bio-Grid) from Prospect Partners. Joe Fontanesi will continue to lead the businesses as President; the move expands Impact Climate Technologies' footprint into Michigan and brings additional engineering, distribution and recurring HVAC services into its platform.

ResiXperts, a residential services platform backed by FoW Partners, has acquired Hart HVAC and Electric, a heating, air conditioning, and electrical service provider serving the Fort Worth/Weatherford, Texas area. The acquisition marks ResiXperts' entry into the Texas market and will provide Hart with marketing, operations and employee development support while the business continues serving local customers.

Blue Point Capital Partners has recapitalized Pinnacle MEP Holdings, a Midwest-focused HVAC and plumbing (MEP) services platform headquartered in Michigan. The transaction is an exit for Firmament (with support from Aquila Equity Partners) and positions Pinnacle to accelerate growth and pursue additional add-on acquisitions across the region.

Columbia Home Services, a Dallas-area residential and light commercial home services platform, has partnered with Wilmington-based Airmax Heating and Cooling. The deal brings Airmax into Columbia's platform to expand the company's HVAC presence in North Carolina while retaining Airmax leadership and employees.

Seacoast Service Partners, a platform formed by White Wolf Capital Group, has acquired Total Comfort, a residential HVAC, electrical and plumbing services provider based in Ormond Beach, Florida. The deal is SSP's seventh add-on and expands the platform's footprint in Volusia and Flagler Counties while retaining Total Comfort's leadership team under a partnership with President Dan Hucks.

Daikin Applied announced a majority investment in Varitec Solutions, a Phoenix-based designer, developer and installer of large-scale, energy-efficient HVAC systems. The deal brings Varitec's ~170 employees into the Daikin Group to expand Daikin's end-to-end HVAC capabilities and service footprint across the U.S. Southwest while Varitec's president, Chris Carlson, will continue to lead the business.

Fidelity Building Services Group, a Hunt Valley, Maryland-based provider of HVAC, building automation, and energy solutions, has acquired Nason Mechanical Systems, a full-service mechanical contractor headquartered in Auburn, Maine. The acquisition expands Fidelity’s Northeast footprint and strengthens its HVAC/mechanical, plumbing, and energy-efficiency service capabilities across healthcare, education, industrial, and commercial end markets.

Leap Partners has acquired Appalachian Heating, a third-generation HVAC, plumbing and electrical business serving West Virginia and Virginia since 1948, marking Leap Partners' entry into West Virginia. Owners Dan and Daniel Akers will remain in leadership as Appalachian Heating joins Leap Partners' growing portfolio, which will provide additional resources, technology and regional support.

CoolSys has acquired Mechanical Engineering & Construction Corporation (MEC2), a Maryland- and Virginia-based mechanical engineering and construction firm. The acquisition strengthens CoolSys's commercial and industrial capabilities while deepening its presence in the Mid-Atlantic region.

Sila Services, a home-services platform, has acquired A to Z Dependable Services, a plumbing and HVAC provider based in Niles, Ohio. The acquisition expands Sila’s Midwest footprint and brings A to Z’s residential plumbing, drain cleaning and HVAC capabilities into Sila’s platform of local home-services brands.

Guild Garage Group has completed a strategic partnership to add A Plus Garage Doors, a portfolio company of Asilia Partners, to its alliance of residential garage door service brands. Under the agreement Asilia principals will join Guild's advisory board to support the platform's buy-and-build strategy; A Plus brings more than 140 employees and ~80 service trucks and will retain its management team while partnering with Guild.

Thermogenics, a North American boiler lifecycle solutions provider headquartered in Aurora, Ontario, has acquired Pyro Combustion & Controls Inc., a Las Vegas–based boiler service company. The transaction expands Thermogenics' U.S. Southwest footprint and adds local combustion, controls, piping and 24/7 service capabilities to its platform while Pyro will continue to operate under its current name.

Del-Air Plumbing, Air Conditioning and Electric has acquired and merged ARS/Rescue Rooter Vero Beach, expanding Del-Air’s service footprint along Florida’s east coast. Del-Air is majority owned by private equity firm Astara Capital Partners; the acquisition brings plumbing, heating and air-conditioning capabilities into Del-Air’s existing home services offering.

Upchurch Services, LLC, a Broadwing Capital-backed platform, has acquired Weldon Services, a Dallas/Fort Worth-area mechanical, electrical and plumbing (MEP) contractor. The add-on deal, closed September 12, 2024 and announced by Kratos Capital, gives Upchurch an immediate foothold in the Dallas/Fort Worth MSA and expands its MEP service capabilities.

Seacoast Service Partners, a platform formed by White Wolf Capital Group, has acquired Cypress Plumbing, a locally operated plumbing company based in Fort Myers, Florida. The deal is the sixth add-on for the SSP platform and expands the platform's footprint and service capabilities in Southwest Florida.

Antimatter Construction Contractors, the home‑services holding company of Value Investment Group (VIG), has acquired Rocky Mountain Heating & Sheetmetal, Inc. (RMHS), a Colorado Front Range HVAC provider. The deal brings RMHS (17+ employees, servicing ~1,100 units) into VIG's home‑services platform with plans to expand services into plumbing and maintenance.

Cascade Services, a residential tri-trade services platform based in Tampa, announced the acquisitions of Sun Plumbing (Melbourne, Florida) and Smith and Keene Home Services LLC (Chesapeake/Norfolk, Virginia). The Smith & Keene Home Services business was a carve-out of the retail/install and service/repair divisions from Smith & Keene Electric Service, Inc.; both deals are add-on acquisitions that expand Cascade's regional footprint and service capabilities.

Kian Capital-backed Team Air Distributing has acquired Best Choice Supply, a family-owned HVAC wholesale distributor with locations in Lexington and Somerset, Kentucky. The add-on expands Team Air’s parts and supplies offering, adds custom metal fabrication capabilities and deepens the platform’s presence in Kentucky and nearby regions; the combined platform will have roughly 200 employees and 12 branch locations.

Paschal Air, Plumbing & Electric has acquired Patriot Heating & Air, adding Patriot’s Oklahoma City team to Paschal’s operator-owned home services platform and expanding Paschal’s HVAC, plumbing, and electrical service footprint into Oklahoma. The transaction, with Patriot owner Willie Hester exiting, is intended to broaden local service capacity while integrating Patriot’s customers and employees into Paschal’s larger network.

Bluehenge Capital Partners has made a strategic investment in M. Spiegel & Sons, the parent company of SOS Xtreme Comfort, to complete a family ownership transition and support future growth. The Spiegel family will remain involved in operations, with Jeffrey Spiegel as President and Meredith Spiegel as COO, while Bluehenge provides capital and strategic guidance.

Liberty Service Partners has acquired Luminous Electric, a family-owned residential and commercial electrical services contractor based in Bradenton, Florida. The acquisition expands Liberty's network of home-services brands across the Southeast and provides Luminous with operational resources and growth support from Liberty and its backer NorthCurrent Partners.

Thermogenics, a North American provider of boiler lifecycle solutions, has acquired High Desert Mechanical, an Apache Junction, Arizona-based boiler service company. The acquisition marks Thermogenics' first location in the Western United States and expands its service capabilities across industrial and commercial end markets including healthcare, mining, food & beverage and manufacturing.

Sila Services, a home services platform, has acquired Allied Experts, a Cherry Hill, New Jersey-based provider of HVAC, plumbing, and home performance solutions. The acquisition expands Sila's presence in New Jersey and adds Allied's home comfort and energy-efficiency capabilities to Sila's platform.