Tracked deals
10
10 tracked deals across 2020-2025.
HVAC & Mechanical Buyers & Acquisitions in Indiana
Buyer mix
Strategic-led
10 strategic · 4 pe
Top trend
Volume peaked in 2022
3 tracked deals announced in 2022.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Heartland Home Services | 2 | Technology-enabled provider and roll-up platform for resi... | Strategic (PE-backed) |
| A1 Garage Door Service | 1 | National residential garage door service and replacement ... | Strategic |
| Blue Point Capital Partners | 1 | Private equity firm managing capital to invest in lower m... | PE |
| Flow Service Partners | 1 | Provider of heating, ventilation, air conditioning, refri... | Strategic (PE-backed) |
| HCI Equity Partners | 1 | Lower middle market private equity firm focused on partne... | PE |
| Halton Group | 1 | Global technology leader in indoor air solutions and food... | Strategic |
| LP First Capital | 1 | Private investment firm focused on building super-regiona... | Investor |
| Mno-Bmadsen | 1 | Tribal-owned holding/investment company operating busines... | Strategic |
| Pinnacle MEP | 1 | Platform of HVACR, electrical and plumbing services that ... | Strategic (PE-backed) |
| RLJ Equity Partners | 1 | Middle-market private equity firm focused on buyouts and ... | PE |
Acquisition Volume in HVAC & Mechanical in Indiana by Year
Last 6 years
Supporting Data
Recent Transactions
-
- Buyer
- Pinnacle MEP, Blue Point Capital Partners
- Target
- Hammans Electric, Inc.
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Addon
Pinnacle MEP, a trade-services platform backed by Blue Point Capital Partners, has acquired Hammans Electric, Inc., a licensed Indianapolis electrical contractor founded in 1989. The add-on expands Pinnacle's electrical capabilities and presence in Indiana and is the platform's fifth Indianapolis-based acquisition since Blue Point's investment.
-
June 4, 2024
- Buyer
- Mno-Bmadsen
- Target
- OJS Building Services, Inc.
- Seller
- Steve Meyer
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Buyout
Mno-Bmadsen, the investment arm of the Pokagon Band, has acquired OJS Building Services, Inc., a Mishawaka, Indiana-based mechanical and building systems automation contractor. The transaction facilitates founder Steve Meyer’s retirement while expanding Mno-Bmadsen’s building services capabilities and geographic reach into Indiana; terms were not disclosed.
-
- Buyer
- Flow Service Partners, RLJ Equity Partners, LP First Capital
- Target
- Nunning Heating, Air Conditioning and Refrigeration
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Addon
Flow Service Partners, a portfolio company of RLJ Equity Partners and LP First Capital, has acquired Nunning Heating, Air Conditioning and Refrigeration, a family-owned commercial HVACR services provider in Evansville, Indiana. The add-on expands Flow's footprint in Indiana and strengthens its commercial HVACR and refrigeration service capabilities; financial terms were not disclosed.
-
February 15, 2023
- Buyer
- A1 Garage Door Service
- Target
- Hamilton Garage Doors Inc.
- Seller
- Hamilton Garage Doors Inc., Mike Keller
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Buyout
A1 Garage Door Service has acquired Hamilton Garage Doors, a long-running garage door installation and repair company serving the greater Indianapolis area. The acquisition expands A1's footprint into Indiana and brings Hamilton's employees and operations into A1's national residential garage door service network.
-
- Buyer
- Tech24, HCI Equity Partners
- Target
- Facilities Management, LLC, Peltz Services, Inc.
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Addon
Tech24, backed by HCI Equity Partners, acquired Facilities Management, LLC and Peltz Services, Inc., both based in Indianapolis, Indiana. The deal — Tech24's eighth add-on — expands the platform's coverage into central and northern Indiana and adds complementary repair, preventative maintenance, and installation capabilities for foodservice and commercial HVAC equipment. Financial terms were not disclosed.
-
- Buyer
- Heartland Home Services
- Target
- Masters Heating & Cooling Inc.
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Addon
Heartland Home Services, a Midwest home-services platform, has acquired Masters Heating & Cooling Inc., a residential HVAC provider with five locations across Indiana including Fort Wayne and Indianapolis. The management team of Masters will remain in place; terms were not disclosed and Heartland said the acquisition will support growth through its training resources and operational platform.
-
- Buyer
- Heartland Home Services
- Target
- Henry Smith Plumbing, Heating & Cooling
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Addon
Heartland Home Services acquired Henry Smith Plumbing, Heating & Cooling on December 18, 2021, adding the Northern Indiana-based plumbing, heating and cooling contractor as the 24th brand in its platform. The target will continue operating under its existing management and technicians while gaining access to Heartland’s technology and resources; terms were not disclosed.
-
August 17, 2021
- Buyer
- Halton Group
- Target
- Nelbud Service Group
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Buyout
Halton Group, the Finland-based indoor air and foodservice ventilation technology leader, has acquired Nelbud Service Group, a U.S. provider of fire protection, kitchen exhaust hood cleaning, grease trap services, and hood system repair. The deal expands Halton’s service capabilities and U.S. footprint, combining Halton’s product and technology expertise with Nelbud’s self-performing local service platform.
-
- Buyer
- Threshold Brands, The Riverside Company
- Target
- Plumbing Heating Paramedics LLC
- Seller
- Ryan Carpenter (Founder and President)
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Addon
Threshold Brands, the multi-brand franchisor platform backed by The Riverside Company, has acquired Plumbing Heating Paramedics LLC (PHP) as an add-on to expand into plumbing and HVAC franchising. PHP, a founder-owned residential HVAC and plumbing services company based in the Indianapolis/Fishers, Indiana area, will be franchised and integrated into Threshold Brands' portfolio to accelerate geographic growth.
-
- Buyer
- Reedy Industries
- Target
- Arctic Engineering
- Industry
- HVAC & Mechanical
- Location
- Indiana, United States
- Type
- Buyout
Reedy Industries, a Glenview, Illinois-based provider of commercial and industrial HVAC, plumbing and building controls services, has acquired Arctic Engineering of Merrillville, Indiana. The acquisition expands Reedy's service footprint in Indiana and preserves Arctic's leadership team, with President Bill Mitchell remaining in his role.
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