Every PE/M&A signal we can find, concrete deals and the broader market mood, each pinned to a
verbatim quote from its source. 1244 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.
Signal volume over time
1,191 dated signals shown · 53 undated (excluded from the chart).
Comfort Systems USA, Inc. entered into an amended and restated senior credit facility on July 16, 2010, replacing its prior 2007 facility. The new $125 million revolving line of credit was arranged by Wells Fargo Bank and provided by a syndicate of banks, expiring in July 2014.
“On July 16, 2010, Comfort Systems USA, Inc. (the “Company”) entered into an amended and restated senior credit facility (the “Facility”) arranged by Wells Fargo Bank, National Association and provided by a syndicate of banks including Bank of Texas, N.A., Capital One, N.A., Regions Bank, and Branch Bank & Trust Company (BB&T).”
Comfort Systems USA · Sponsor Bank of Texas, N.A. · Lender Branch Bank & Trust Company (BB&T) · Lender Capital One, N.A. · Lender Regions Bank · Lender Wells Fargo Bank, National Association · Advisor
Lennox International Inc. announced the retirement of Scott J. Boxer, Executive Vice President, President and Chief Operating Officer of its Service Experts division, effective June 30, 2010. Michael J. Blatz has been appointed to succeed him in the same role.
“On May 26, 2010, Lennox International Inc. (the “Company”) announced that Scott J. Boxer, Executive Vice President, President and Chief Operating Officer, Service Experts, is retiring from the Company effective June 30, 2010. Michael J. Blatz has been appointed to succeed Mr. Boxer as Executive Vice President, President and Chief Operating Officer, Service Experts.”
Comfort Systems USA, Inc. announced that its Board of Directors approved an amendment to its stock repurchase program, authorizing the repurchase of up to an additional 747,878 shares to bring the total available authorization to 1,000,000 shares. The repurchases will be made in the open market or through private transactions, financed with available cash.
“announcing that its Board of Directors (the “Board”) has approved an amendment to the company’s stock repurchase program to increase the shares authorized and remaining as available to purchase back up to 1,000,000 shares by authorizing the company to acquire up to 747,878 additional shares of its outstanding common stock.”
EMCOR Group, Inc. entered into a Second Amended and Restated Credit Agreement establishing a $550 million revolving credit facility, with an option to increase it by $100 million. The company also terminated its existing Term Loan Agreement and paid off approximately $195 million in outstanding indebtedness.
“On February 4, 2010, EMCOR Group, Inc. (the “Company”), Comstock Canada Ltd., a wholly-owned subsidiary of the Company (“Comstock”), and EMCOR Group (UK) plc., a wholly-owned subsidiary of the Company (“EMCOR UK”), entered into a Second Amended and Restated Credit Agreement (the “Credit Agreement”) dated as of February 4, 2010 with Bank of Montreal, as Agent, and certain other lenders listed on the signature pages thereof (collectively, the “Lenders”).”
Comfort Systems USA, Inc. announced certain acquisitions on January 6, 2010, as reported in a Form 8-K filing with the SEC. The specific targets are not named in this excerpt, but the filing references a press release detailing the transactions.
“On January 6, 2010, Comfort Systems USA, Inc. (the “Company”) issued a press release announcing certain acquisitions of the Company.”
EMCOR Group, Inc. elected Anthony J. Guzzi, its President and Chief Operating Officer, to its Board of Directors on December 15, 2009. This expands the board to 10 members, eight of whom are independent.
“On December 15, 2009, the Board of Directors (the "Board") of EMCOR Group, Inc. (the "Company") elected Mr. Anthony J. Guzzi, President and Chief Operating Officer of the Company, to serve as a member of the Board.”
After acquiring EAS, ARS/Rescue Rooter intends to expand the Energy Efficient Attic program through its existing business locations across the country, with EAS continuing under its name in Texas and Phoenix.
“In Texas and Phoenix, EAS will continue to operate under its existing name with current management. ARS/Rescue Rooter also intends to expand the Energy Efficient Attic program through its existing business locations across the country.”
ARS/Rescue Rooter, a privately held nationwide HVAC/plumbing provider, acquired Dallas-based Efficient Attic Systems, marking its first service-line expansion into blown-in insulation, attic ventilation, and radiant barrier services.
“DALLAS/FORT WORTH, Texas - ARS®/Rescue Rooter®, a privately held, nationwide provider of air conditioning, heating, and plumbing services, has acquired Dallas-based Efficient Attic Systems (EAS). This acquisition marks ARS/Rescue Rooter’s first service line expansion, through the addition of a company that provides blown-in insulation, attic ventilation, and high-tech radiant barrier services.”
ARS/Rescue Rooter acquired Dallas-based Efficient Attic Systems (EAS), marking its first service-line expansion into blown-in insulation, attic ventilation, and radiant barrier services. EAS will continue under its existing name with current management in Texas and Phoenix.
“ARS®/Rescue Rooter®, a privately held, nationwide provider of air conditioning, heating, and plumbing services, has acquired Dallas-based Efficient Attic Systems (EAS). This acquisition marks ARS/Rescue Rooter’s first service line expansion, through the addition of a company that provides blown-in insulation, attic ventilation, and high-tech radiant barrier services.”
ARS/Rescue Rooter intends to expand the Energy Efficient Attic program through its existing business locations across the country, signaling a service-line and geographic expansion.
“ARS/Rescue Rooter also intends to expand the Energy Efficient Attic program through its existing business locations across the country.”
ARS/Rescue Rooter, a nationwide provider of HVAC and plumbing services, acquired Dallas-based Efficient Attic Systems (EAS), marking its first service-line expansion into insulation and energy-efficiency services. EAS continues under its existing name and management.
“ARS/Rescue Rooter, a privately held, nationwide provider of air conditioning, heating and plumbing services, has acquired Dallas-based Efficient Attic Systems (EAS).”
Comfort Systems USA's Board of Directors approved an amendment to increase the authorized shares under its stock repurchase program back up to 1,000,000 shares, authorizing the repurchase of up to 476,400 additional shares. The company had previously repurchased 3,875,409 shares for $43.1 million. This is a capital allocation action, not an M&A or private equity transaction.
“announcing that its Board of Directors (the “Board”) has approved an amendment to the company’s stock repurchase program to increase the shares authorized and remaining in the program back up to 1,000,000 shares by authorizing the company to acquire up to 476,400 additional shares of its outstanding common stock.”
Comfort Systems USA, Inc. announced that its Board of Directors approved an amendment to its stock repurchase program, authorizing the repurchase of up to an additional 546,350 shares to bring the total available for repurchase to 1,000,000 shares. The repurchases will be financed with available cash and may be modified or terminated at any time.
“a copy of a press release of Comfort Systems USA, Inc., a Delaware corporation (the “Company”) dated March 31, 2009 announcing that its Board of Directors (the “Board”) has approved an amendment to the company’s stock repurchase program to increase the shares authorized and remaining as available to purchase back up to 1,000,000 shares by authorizing the company to acquire up to 546,350 additional shares of its outstanding common stock.”
Comfort Systems USA, Inc. announced that its Board of Directors approved an amendment to its stock repurchase program, increasing the authorized shares available for repurchase by up to 964,316 additional shares, effectively topping off the plan to permit repurchase of up to one million shares. The repurchases will be financed with available cash and conducted in the open market or through private transactions.
“announcing that its Board of Directors (the “Board”) has approved an amendment to the Company’s stock repurchase program to increase the shares authorized and remaining as available to purchase back up to 1,000,000 shares by authorizing the company to acquire up to 964,316 additional shares of its outstanding common stock.”
EMCOR reports 14.6% revenue growth in Q3 2008, with 8.0% attributed to organic growth and the remainder from businesses acquired in the past year. The company notes strong performance from both organic and acquired businesses.
“In the 2008 third quarter, revenues were $1.72 billion compared to $1.50 billion in the third quarter of 2007, an increase of 14.6%, of which 8.0% was organic growth which excludes the contribution from businesses acquired during the past year.”
EMCOR's CEO highlights strategic acquisitions like Ohmstede and S.A. Comunale as key to diversifying into stable end markets such as refining and fire protection. The company notes that these acquisitions have shifted its business mix away from cyclical construction toward less capital-intensive services.
“At the same time, we have undertaken strategic acquisitions, such as Ohmstede, S.A. Comunale and a number of mechanical services companies, which have shifted the mix of our business to stable end markets such as refining, fire protection and mechanical services which are less capital intensive and not as vulnerable to economic downturns than construction.”
Comfort Systems USA's Board of Directors approved an amendment to increase the authorized shares under its stock repurchase program, allowing the company to acquire up to an additional 775,060 shares, bringing the total available to 1,000,000 shares.
“Attached and incorporated herein by reference as Exhibit 99.1 is a copy of a press release of Comfort Systems USA, Inc., a Delaware corporation (the “Company”) dated August 18, 2008 announcing that its Board of Directors (the “Board”) has approved an amendment to the Company’s stock repurchase program to increase the shares authorized and remaining as available to purchase back up to 1,000,000 shares by authorizing the Company to acquire up to 775,060 additional shares of its outstanding common stock.”
Comfort Systems USA, Inc. announced the acquisition of Delcard Associates, Inc., a full-service commercial HVAC company based in Wilmington, Delaware. The deal was announced via press release on August 18, 2008.
“Attached and incorporated herein by reference as Exhibit 99.2 is a copy of a press release of the Company dated August 18, 2008 announcing that it has acquired Delcard Associates, Inc., a Delaware corporation and a full service commercial HVAC company based in Wilmington, Delaware.”
ARS leadership described an ongoing strategy of expanding coast to coast through acquisitions of strong service providers, positioning the firm as a national category leader.
““In addition to organic growth, we continue to expand from coast to coast with acquisition of strong service providers,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer.”
ARS/Rescue Rooter framed the acquisition as a platform for geographic expansion, planning an additional branch north of Boston, as part of a coast-to-coast acquisition strategy.
“This acquisition marks ARS/Rescue Rooter’s first presence in Massachusetts, and will serve as a platform for the company to grow its services throughout the Greater Boston area.”
ARS/Rescue Rooter, through parent American Residential Services L.L.C., acquired Boston-area HVAC and plumbing contractor Climate Zone, marking its first presence in Massachusetts.
“BOSTON - ARS/Rescue Rooter, a nationwide provider of heating, air conditioning, and plumbing services, has acquired Climate Zone, based out of Bradford, Mass., through parent company American Residential Services L.L.C.”
Climate Zone founder and former president Andy DiPietro took on a new role as sales manager for both Climate Zone and the new ARS/Rescue Rooter location following the acquisition.
“In his new role, DiPietro will serve as sales manager for both Climate Zone and the new ARS/Rescue Rooter location.”
ARS/Rescue Rooter's president framed the company as a national category leader expanding coast to coast through acquisition of strong service providers alongside organic growth.
““In addition to organic growth, we continue to expand from coast to coast with acquisition of strong service providers,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer.”
The Climate Zone acquisition is ARS/Rescue Rooter's first Massachusetts presence and will serve as a platform to grow services across Greater Boston, including a new branch in the Woburn area.
“This acquisition marks ARS/Rescue Rooter’s first presence in Massachusetts, and will serve as a platform for the company to grow its services throughout the Greater Boston area.”
ARS/Rescue Rooter, through parent American Residential Services L.L.C., acquired Climate Zone of Bradford, Mass., marking its first presence in Massachusetts and serving as a platform to grow across Greater Boston. The deal reflects ARS's national acquisition-driven roll-up strategy.
“ARS/Rescue Rooter, a nationwide provider of heating, air conditioning, and plumbing services, has acquired Climate Zone, based out of Bradford, Mass., through parent company American Residential Services L.L.C.”
ARS/Rescue Rooter describes itself as a national network of more than 60 branches providing HVAC and plumbing, signaling an ongoing multi-branch consolidation platform.
“a leading member of the ARS/Rescue Rooter Network, a national network of more than 60 branches that provide HVAC and plumbing across the country.”
American Residential Services (ARS/Rescue Rooter) acquired Lloyds Plumbing Heating & Air of San Diego, which will operate under the ARS/Rescue Rooter brand.
“ARS/Rescue Rooter has acquired Lloyds Plumbing Heating & Air of San Diego through parent company American Residential Services L.L.C.”
American Residential Services (ARS/Rescue Rooter) acquired substantially all the assets of the Las Vegas location of Service Max, expanding its national HVAC and plumbing service network.
“ARS has acquired substantially all the assets of the Las Vegas location of Service Max, through parent company American Residential Services L.L.C.”
ARS, through parent American Residential Services L.L.C., acquired the Las Vegas location of Service Max and Lloyds Plumbing Heating & Air of San Diego, strengthening its HVAC and plumbing presence in both markets.
“Yes! ARS has acquired substantially all the assets of the Las Vegas location of Service Max, through parent company American Residential Services L.L.C. Also, ARS/Rescue Rooter has acquired Lloyds Plumbing Heating & Air of San Diego through parent company American Residential Services L.L.C.”
Direct Energy serves Texas homeowners through a portfolio of acquired HVAC and plumbing brands, illustrating an energy-company-led roll-up of residential home-services contractors.
“In Texas, Direct Energy provides services to homeowners under the following brands: Hallmark Air Conditioning and Heating, Airtron Heating and Air Conditioning, Jarrell Plumbing, C.A. Woods, and Wendland Air Conditioning and Heating.”
Direct Energy describes a Texas home-services platform comprising multiple acquired HVAC/plumbing brands (Hallmark, Airtron, Jarrell Plumbing, C.A. Woods, Wendland), indicative of ongoing roll-up consolidation.
“In Texas, Direct Energy provides services to homeowners under the following brands: Hallmark Air Conditioning and Heating, Airtron Heating and Air Conditioning, Jarrell Plumbing, C.A. Woods, and Wendland Air Conditioning and Heating.”
ARS/Rescue Rooter's president framed the Goettl acquisition as part of a strategy to build a national network of HVAC contractors and grow through acquiring additional service providers nationwide.
““We are committed to being the category leader by creating a national network of the best HVAC contractors dedicated to exceptional service and employee satisfaction,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer.”
American Residential Services (ARS/Rescue Rooter) acquired Tempe, Arizona-based Goettl Air Conditioning through its parent company, adding it to its nationwide HVAC/plumbing services network as part of an explicit national roll-up strategy. Goettl retains its brand and existing leadership.
“PHOENIX - ARS®/Rescue Rooter®, a privately held, nationwide provider of heating, air conditioning, and plumbing services, has acquired Tempe, Ariz.-based Goettl Air Conditioning® through its parent company, American Residential Services L.L.C.”
ARS/Rescue Rooter states a strategy of building a national network of HVAC contractors through continued acquisitions of quality service providers, evidencing an ongoing home-service roll-up thesis.
““We are committed to being the category leader by creating a national network of the best HVAC contractors dedicated to exceptional service and employee satisfaction,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer.”
American Residential Services (ARS/Rescue Rooter) acquired Tempe, Arizona-based Goettl Air Conditioning, adding it to its national HVAC contractor network as a clear home-service consolidation add-on. Goettl retains its brand and headquarters.
“ARS®/Rescue Rooter®, a privately held, nationwide provider of heating, air conditioning, and plumbing services, has acquired Tempe, Ariz.-based Goettl Air Conditioning® through its parent company, American Residential Services L.L.C.”
ARS/Rescue Rooter framed the Goettl deal as part of a strategy to build a national network of HVAC contractors via continued acquisitions, signaling an ongoing home-services consolidation play.
“We are committed to being the category leader by creating a national network of the best HVAC contractors dedicated to exceptional service and employee satisfaction,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer. “Goettl’s history of demonstrating their commitment to service and employee satisfaction coincides with our vision, and we look forward to continuing our growth through the addition of quality service providers and staff nationwide.”
ARS/Rescue Rooter, through parent American Residential Services L.L.C., acquired Tempe, Arizona-based Goettl Air Conditioning, adding it to its nationwide HVAC/plumbing service network while retaining the Goettl brand.
“PHOENIX - ARS®/Rescue Rooter®, a privately held, nationwide provider of heating, air conditioning, and plumbing services, has acquired Tempe, Ariz.-based Goettl Air Conditioning® through its parent company, American Residential Services L.L.C.”
ARS/Rescue Rooter stated a strategy of building a national network of HVAC contractors through continued acquisitions of quality service providers nationwide.
“We are committed to being the category leader by creating a national network of the best HVAC contractors dedicated to exceptional service and employee satisfaction”
ARS/Rescue Rooter, through parent American Residential Services, acquired Goettl Air Conditioning of Tempe, AZ as part of building a national network of HVAC contractors. Goettl retains its brand and existing leadership while operating within the ARS/Rescue Rooter network.
“ARS®/Rescue Rooter®, a privately held, nationwide provider of heating, air conditioning, and plumbing services, has acquired Tempe, Ariz.-based Goettl Air Conditioning® through its parent company, American Residential Services L.L.C.”
Service Logic describes itself as a privately held platform made up of leading mechanical service companies across North America, signalling an ongoing roll-up of regional service firms like PSR.
“Service Logic is a privately held company comprised of top mechanical service companies across North America with more than 1,200 dedicated service employees.”
Service Logic, a North American mechanical-services consolidator, acquired Seattle-based PSR HVAC & Mechanical Services. President Rob Miller stays on and PSR continues under its own name.
“Service Logic has announced the recent acquisition of PSR HVAC & Mechanical Services based in Seattle.”
Service Logic is described as a privately held company comprising top mechanical service companies across North America with more than 1,200 service employees, indicating an ongoing platform consolidation of mechanical/HVAC service firms.
“Service Logic is a privately held company comprised of top mechanical service companies across North America with more than 1,200 dedicated service employees.”
Service Logic, a privately held consolidator of mechanical service companies across North America, acquired Seattle-based PSR HVAC & Mechanical Services. PSR's president stays on and the brand is retained.
“Service Logic has announced the recent acquisition of PSR HVAC & Mechanical Services based in Seattle.”
Comfort Systems USA's Board of Directors elected Darcy G. Anderson and Alan P. Krusi as independent directors, expanding the board to eight members. The appointments were effective March 5, 2008.
“On March 5, 2008, the Board of Directors of Comfort Systems USA, Inc. (the “Company”) unanimously elected Darcy G. Anderson and Alan P. Krusi to serve as independent members of the Company’s Board of Directors, and thereby expanded the total number of Company Directors to eight.”
Comfort Systems USA, Inc. announced it has acquired Merit Mechanical, Inc., a full-service commercial HVAC company based in Redmond, Washington. The acquisition was announced via a press release dated March 4, 2008.
“Attached and incorporated herein by reference as Exhibit 99.1 is a copy of a press release of the Company dated March 4, 2008 announcing that it has acquired Merit Mechanical, Inc., a full service commercial HVAC company based in Redmond, Washington.”
American Residential Services LLC (owner of ARS and Rescue Rooter) acquired three companies: Universal Heating and Cooling (Atlanta), Air-Trol Heating and Air Conditioning (Indianapolis), and 24/7 Service Corp. (Las Vegas/Phoenix), expanding its HVAC and plumbing footprint.
“American Residential Services LLC, owner of the [ARS and Rescue Rooter](link:http://www.ars.com) brands, recently purchased three companies: Atlanta-based Universal Heating and Cooling; Indianapolis-based Air-Trol Heating and Air Conditioning; and Las Vegas and Phoenix-based 24/7 Service Corp., which operates Yes! Air Conditioning, Yes! Plumbing and Sunset Sheet Metal & Air Conditioning.”
Comfort Systems USA, Inc. entered into a Stock Purchase Agreement to acquire all outstanding stock of Riddleberger Brothers, Inc., a commercial HVAC company based in Virginia, for $23 million cash, an $11 million note, and a three-year earn-out.
“Effective February 29, 2008, Comfort Systems USA, Inc., a Delaware corporation (the “Company”) entered into a Stock Purchase Agreement By and Between the Company and James P. Young to acquire all of the issued and outstanding stock of Riddleberger Brothers, Inc., a Virginia corporation (the “Agreement”).”
Comfort Systems USA announced it has acquired Riddleberger Brothers, Inc., a full-service commercial HVAC company based in Mount Crawford, Virginia.
“Press Release of Comfort Systems USA, Inc. dated February 28, 2008 announcing that it has acquired Riddleberger Brothers, Inc., a full service commercial HVAC company based in Mount Crawford, Virginia.”
Following ARS's acquisition, 24/7 president and owner Ken Goodrich joined the ARS senior management team and will lead and expand HVAC and plumbing operations in Las Vegas, Phoenix, and Southern California.
“said Ken Goodrich, president and owner, who now joins the senior management team at ARS. Goodrich will lead and expand existing HVAC and plumbing operations in Las Vegas and Phoenix, as well as ARS’s HVAC businesses in Southern California”
ARS framed the deal as part of an ongoing roll-up strategy to build a nationwide HVAC and plumbing footprint by continuing to add quality service providers.
““We are building a nationwide HVAC and plumbing footprint by continuing to add quality service providers such as Yes! and Sunset,” said Dave Slott, president and chief operating officer of American Residential Services.”
