Every PE/M&A signal we can find, concrete deals and the broader market mood, each pinned to a verbatim quote from its source. 192 signals in the record.
Signals are reports drawn from public coverage and print archives, presented as reported by their sources. Naming a company in a signal is not an accusation against it. See our methodology and legal notes.
Southern HVAC has a vice president of acquisitions (Jarrod Brinker), indicating a structured, ongoing roll-up acquisition program rather than a one-off purchase.
“said Jarrod Brinker, vice president of acquisitions at Southern HVAC.”
Southern HVAC's CEO characterizes residential HVAC, plumbing, and electrical services as highly fragmented and aims to expand its leading position across Texas, the Southeast, and Midwest with Gryphon and Right Time support.
““Residential HVAC, plumbing, and electrical services remains a highly fragmented industry, with demand growth being driven as consumers spend more time in their homes,” said Benak. “We aim to expand our position as the leading residential services provider across Texas, the Southeastern U.S., and Midwestern U.S. with support from Gryphon, Ian, and Right Time.””
Imperial Capital framed the Haley deal as 'just the beginning' for Frontier, stating the platform will continue to expand through acquisitions and partnerships in the residential trades.
“We see tremendous opportunity to deploy our Back/Buy/Build investment strategy within the residential HVAC, plumbing and electrical services industry and this is just the beginning for Frontier,” said Eugene Polevoy, principal of Imperial Capital, Frontier’s capital partner.”
Imperial Capital signaled Frontier would continue expanding through acquisitions and partnerships, framing the Haley deal as 'just the beginning' of the platform's roll-up.
“Frontier will continue to expand through acquisitions and partnerships while maintaining a focus on best-in-class service.”
SEER Group CEO framed the Columbia NW acquisition as reinforcing commitment to growing its Oregon footprint while supporting a national growth plan, signaling ongoing roll-up consolidation.
“This acquisition reinforces our commitment to growing our footprint in Oregon while supporting our national growth plan.”
The SEER Group framed the Columbia NW deal (its 16th) as part of a broader national growth plan while expanding its Oregon footprint.
“This acquisition reinforces our commitment to growing our footprint in Oregon while supporting our national growth plan.”
Related-article links show CoolSys executing a string of refrigeration services acquisitions (T&O, Triangle Refrigeration, Duquette Refrigeration), indicating an ongoing roll-up of independent refrigeration contractors.
“## CoolSys Acquires Triangle Refrigeration”
The new CEO thanks PE sponsor Gryphon Investors for supporting continued growth across Canada, evidencing an ongoing PE-backed HVAC consolidation play.
“Thank you to our partners at Gryphon Investors for their tremendous support and encouragement as we continue the phenomenal growth throughout Canada.”
Anchor Home Comfort is the ninth acquisition completed by Right Time, reflecting an ongoing PE-backed national HVAC consolidation across Canada under Gryphon Investors.
“Anchor Home Comfort is the ninth acquisition completed by Right Time and the first led by the company’s new CEO, Craig Goettler.”
Anchor Home Comfort is Right Time's ninth acquisition, part of a strategy to build a national brand through acquisitions of residential HVAC replacement contractors. Prior deals cited include Romaniuk, AtlasCare, and Comfort Masters.
“Anchor Home Comfort is the ninth acquisition completed by Right Time and the first led by new CEO Craig Goettler who has 15 years of experience in the residential HVAC market.”
The seller frames the deal as joining Right Time's pattern of integrating strong local HVAC companies into a national brand, evidencing an ongoing consolidation roll-up strategy.
“They have a great track record of integrating strong local companies into their national brand and delivering best-in-class customer service.”
Since Huron Capital partnered with Dan Bueschel in 2017 to acquire Pueblo, the platform has completed seven acquisitions pursuing a buy-and-build strategy in commercial HVAC and plumbing in the US Sun Belt.
“Pueblo has completed seven acquisitions since Huron Capital partnered with Bueschel in 2017 to acquire Pueblo and pursue an ExecFactor buy-and-build strategy in the commercial HVAC and plumbing market in the Sun Belt region of the United States.”
The SEER Group CEO described continued acquisition activity toward building a national footprint, with the Western deal being its fifteenth acquisition.
“he will continue leading the Western team and expanding the Western brand as our group continues moving towards a national footprint.”
Right Time Group, owned by Gryphon Investors, is rolling up residential HVAC replacement contractors to build a national Canadian brand, now operating 14 locations across four provinces with over 600 employees.
“Right Time which is focused on developing a national brand through acquisitions or partnerships with existing residential HVAC replacement contractors”
Right Time frames the Comfort Masters deal as part of continued growth across Ontario, partnering with the acquired team to meet customer needs.
““Right Time is excited to partner with Brian and his team to continue our growth across Ontario,” said Right Time CEO Jeremy Hetherington.”
CoolSys frames the TRS-SESCO deal as part of an explicit strategic growth plan, bringing new capabilities and entering new industry sectors as a nationwide consolidator.
““Our acquisition of TRS-SESCO represents an important step in our strategic growth plan by bringing new capabilities to our clients while introducing CoolSys into new industry sectors,” said Adam Coffey, CEO of CoolSys.”
The SEER Group frames the Sturm acquisition as part of a national growth/consolidation plan, signaling an ongoing platform roll-up strategy.
“This acquisition not only reinforces our position in the Spokane market, but also supports our national growth plan.”
The SEER Group positioned the Sturm acquisition as reinforcing its Spokane market position while supporting a national growth plan.
“This acquisition not only reinforces our position in the Spokane market, but also supports our national growth plan.”
Horizon Group Holdings' acquisition of Hurley & David marks its seventh acquisition in the last twelve months, evidencing an active roll-up acquisition pace.
“The partnership marks HGH’s seventh acquisition in the last twelve months.”
AtlasCare's CEO characterized Right Time as the leading consolidator in the Canadian residential HVAC and plumbing industry, citing its track record of integrating strong local companies into a national brand.
“Their track record of integrating strong local companies into their national brand sets them apart as the leading consolidator in the Canadian residential HVAC and plumbing industry.”
AtlasCare's CEO described Right Time as the leading consolidator in the Canadian residential HVAC and plumbing industry, citing its track record of integrating strong local companies into a national brand.
“Their track record of integrating strong local companies into their national brand sets them apart as the leading consolidator in the Canadian residential HVAC and plumbing industry.”
Maitz is described as Horizon Group Holdings' fourth acquisition over the last twelve months, indicating a sustained acquisition pace.
“Maitz marks the fourth acquisition for HGH over the last twelve months.”
The A-Absolute deal is the fifth acquisition by Horizon Group Holdings in the past twelve months, indicating an active roll-up cadence.
“This marks fifth acquisition for Horizon Group Holdings over the past year”
Horizon Group Holdings frames the Eanes deal as furthering its strategic goal of growing in the Southeast and plans to grow Eanes both organically and through further acquisition.
“The acquisition of Eanes furthers HGH’s strategic goals of growing in the Southeast, and we look forward to accelerating Eanes' growth both organically and through acquisition.”
CoolSys describes C.E. Holt as its fourth acquisition in 2020, all along the East Coast from South Carolina to Connecticut, part of an aggressive growth strategy toward becoming a national service provider.
““The acquisition of C.E. Holt was our fourth in 2020, all of which were along the East Coast, stretching from South Carolina to Connecticut,” said Adam Coffey, CEO of CoolSys. “This strategic acquisition builds density in the Southeast market and continues our aggressive growth strategy with the goal of becoming a national service provider.”
Apex Service Partners describes its roll-up model as providing investment for premier service brands to grow while keeping their existing brands and operations intact, positioning itself as a capital and resource partner rather than an operator.
“we provide investment for these premier service brands to grow.”
Wrench Group characterizes the Collins deal as its sixth acquisition in 2020, signaling an active roll-up acquisition cadence in home services.
“This is the firm’s sixth acquisition in 2020.”
Wrench Group is rolling up home-services businesses in the Phoenix market, already holding Parker and Sons and the newly acquired All About Water, signaling active regional consolidation.
“Wrench Group already has an established footprint in Phoenix with its flagship location Parker and Sons and newly acquired All About Water.”
Horizon's founder and chairman framed the acquisition as part of a deliberate strategy of foundational growth through partnerships, signaling an ongoing roll-up approach.
“The addition of Hutchinson to Horizon Group Holdings' family of brands further demonstrates our commitment to foundational growth through partnerships, shared principles, and strategy,”
Wrench Group's Phoenix platform spans HVAC, plumbing, and electrical under the Parker and Sons brand, illustrating a multi-trade home-services roll-up footprint.
“where it operates in the HVAC, plumbing, and electrical space under the flagship name of Parker and Sons.”
The All About Water deal marks Wrench Group's fifth acquisition in 2020, indicating active roll-up acquisition pace.
“This is the firm’s fifth acquisition in 2020.”
SEER's CEO frames the Nolan acquisition as part of a growth plan to expand into multiple markets across the United States, signaling an active roll-up strategy.
“This acquisition strengthens our footprint in the Northwest and supports our growth plan to expand into multiple markets across the United States.”
Wrench CEO Ken Haines described the company's strategy as partnering with market leaders, framing the Donovan deal within Wrench's ongoing roll-up of regional HVAC firms.
“Part of Wrench’s strategy is to partner with market leaders, and Donovan has an outstanding reputation in the Jacksonville area, and has experienced very impressive organic growth over many years”
The Wrench Group's CEO described its roll-up strategy as partnering with market leaders, framing the Donovan deal within that acquisition strategy.
““Part of Wrench’s strategy is to partner with market leaders, and Donovan has an outstanding reputation in the Jacksonville area, and has experienced very impressive organic growth over many years,” he said.”
Florida Cool will combine operations with CoolToday in Sarasota, which The Wrench Group acquired in April 2019, illustrating tuck-in consolidation of Florida HVAC brands under Wrench.
“CoolToday, serving Sarasota and the surrounding areas since 1963, was acquired by The Wrench Group in April 2019, and has quickly expanded its service offerings to the Tampa and St. Pete area.”
SEER Group leadership framed the Coffman deal as part of a continued national footprint expansion combining synergies and support across its other partner companies.
“we are very proud to welcome the Coffman team to our family of companies as we continue to expand our footprint nationally”
The selling owners of Coffman & Company expressed reluctance about selling to a large acquirer that would come in and change everything including employees, reflecting owner sentiment in trades consolidation.
“We did not want to sell to a large company that would come in and change everything, including our employees.”
The Niemeyer acquisition was Pueblo's sixth since Huron Capital became involved in 2017, reflecting an active buy-and-build roll-up program.
“This acquisition of Niemeyer was the sixth since Huron Capital became involved in 2017.”
CoolSys describes an active M&A strategy, noting BRR Refrigeration is the second acquisition it closed in the same week, signaling rapid roll-up pace in commercial refrigeration/HVAC.
“As part of an active M&A strategy, BRR Refrigeration is the second acquisition CoolSys has closed this week.”
Apex CEO AJ Brown characterizes home and commercial services as a fragmented market where Apex can strengthen companies and accelerate growth via roll-up.
““Home and commercial services is a fragmented market where Apex can further strengthen already great companies to accelerate growth with our resources and support,” said AJ Brown, CEO of Apex”
Apex's CEO characterizes home and commercial services as a fragmented market where the platform can consolidate and accelerate growth.
““Home and commercial services is a fragmented market where Apex can further strengthen already great companies to accelerate growth with our resources and support,””
The article references multiple related acquisitions by The Arcticom Group, including Market Refrigeration Specialists, KIC Refrigeration, and RACE Engineering, indicating an ongoing consolidation strategy in the HVACR space.
“The Arcticom Group Acquires Market Refrigeration Specialists”
The SEER Group is consolidating regional HVAC contractors into a multi-brand platform, growing to eleven brands across the Pacific Northwest and California.
“These two additions expand The SEER Group LLC’s brands to eleven in Washington, Oregon, Idaho, and California.”
Backed by Ares, CoolSys intends to pursue a more aggressive acquisition and expansion strategy in the fragmented refrigeration and HVAC services market, building on eight acquisitions over the prior three years; it is in active discussions with several potential acquisition targets.
“Now, with Ares’ additional support and resources, we can pursue a more aggressive acquisition and expansion strategy while we continue to deliver best-in-class solutions for our customers’ mission–critical refrigeration and HVAC systems throughout North America.”
The cluster of acquisitions complements Service Experts' 21 existing centers in TX, FL, and GA and adds ~247 employees and 184 service vehicles, bringing total U.S./Canada locations to 94 — evidence of an active HVAC/plumbing roll-up.
“These acquisitions complement Service Experts’ 21 existing centers in Texas, Florida, and Georgia and add approximately 247 employees and 184 service vehicles to the Service Experts family, bringing the total number of locations in the U.S. and Canada to 94.”
The acquisitions complement Service Experts' existing 21 centers in Texas, Florida, and Georgia and bring its total U.S. and Canada locations to 94, reflecting an ongoing roll-up of home-service companies.
“These acquisitions complement Service Experts’ 21 existing centers in Texas, Florida, and Georgia and add approximately 247 employees and 184 service vehicles to the Service Experts family, bringing the total number of locations in the U.S. and Canada to 94.”
Southern HVAC, founded in 2016, has grown significantly through acquisitions and now comprises 7 brands and 12 service locations with 430+ employees across Florida and North Carolina, servicing roughly 200,000 households annually.
“Since its inception in 2016, Southern HVAC Corp. has enjoyed significant growth through acquisitions and market share. The company currently services approximately two hundred thousand households annually, and has nearly doubled in size. As a result of the recent acquisitions, Southern HVAC is now comprised of 7 brands and 12 service locations, employing more than 430 experienced professionals throughout Florida and North Carolina.”
Goettl Air Conditioning continued rapid growth in 2016 by adding multiple air conditioning companies to its operations, reflecting an active consolidation strategy.
“Goettl grows 500 percent in 2016”
Source's CEO described the RSI deal as an example of its strategy of acquiring and partnering with best-in-class local and regional refrigeration service providers, signaling an ongoing roll-up approach.
“This deal is a great example of our strategy of acquiring and partnering with best-in-class local and regional refrigeration service providers.”
ARS describes a national platform of more than 70 locally-managed service centers across 22 states with ~5,500 employees, underscoring its scale as a home-services consolidator.
“ARS operates a network of more than 70 locally-managed service centers in 22 states, with approximately 5,500 employees.”